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July
Credit Agricole CIB and Sinosure have signed a comprehensive business cooperation agreement to further develop support for their clients.
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Photos from Trade Finance Magazine’s 5th Annual Asia Awards Dinner held in Hong Kong.
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A loan from PEFCO with a US Ex-Im guarantee is maintaining US jobs through the export of Siemens turbines to Korea.
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Roger Packham at Deutsche Bank assesses the trade climate in Asia and compares how the Asian markets have fared in comparison to the rest of the world.
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The right financial partner can provide a complete trade receivables management solution. By Sanjay Tandon, Managing Director, Asia Head Trade Services Global Transaction Services, Citi
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Ivanhoe Mines has appointed a core lender group of five financial institutions that will lead the arrangement of its Oyu Tolgoi copper and gold mining complex debt package in Mongolia.
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The South Korean government plans to simplify rules and build infrastructure to help domestic companies better capitalise on free trade agreements.
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China is to invest $10 billion in Argentina’s railways in a major win for Chinese exporters, as part of a spate of agreements signed between the two nations.
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The Asian Development Bank (ADB) and Bank of China (BoC) have agreed to cooperate in a number of areas including regional trade finance.
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HSBC has picked its previous treasury head John Li to be its chief executive officer in Taiwan.
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Norton Rose has relocated a banking partner specialising in Islamic and structured trade finance to its Hong Kong office.
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HSBC has completed its first UK cross-border renminbi (RMB) trade settlement transaction for the UK hand and garden tool business Neill Tools Limited.
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MLAs appointed as Noble Group seeks to extend the size and maturity of its existing trade revolver.
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HSBC has launched a renminbi internet banking services for commercial banking customers from 12 July 2010.
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UK firms need to exploit export opportunities in Asia says UK Secretary of State Vincent Cable.
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The European Bank for Reconstruction and Development has signed a loan for the construction of the first coal washing plant in Mongolia, its largest investment in Mongolia to date.
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SG has closed a trade deal for China’s Henan HongKong Longquan Aluminium.
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JP Morgan is now providing RMB Nostro accounts and clearing services globally to support clients’ cross border trade finance and clearing needs with China.
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June
Taiwan and China have signed an economic co-operation framework agreement which will remove tariffs on hundreds of products to boost bilateral trade.
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Standard Chartered Bank and Agricultural Bank of China have signed a memorandum of understanding to increase intra-Asia and Asia-Africa trade corridors.
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BNY Mellon been authorised by the China Banking Regulatory Commission (CBRC) to set up a banking branch in Beijing.
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DBS Bank has made several senior appointments in its global transaction services team.
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China is set to expand its pilot renminbi trade settlement scheme to 20 provinces and cities across mainland China.
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Standard Chartered Bank, together with Chinese state officials have launched a reminbi trade settlement road show in Hong Kong, Korea and Japan.
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Wells Fargo & Company has named the new head of its international group.
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Energy trader Gunvor International has scored a syndication success and is expected to take the full amount of its oversubscribed trade revolver.
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Swedish state insurer EKN sees opportunities in Asia as it relaxes restrictions for Indonesia, the Philippines and Vietnam.
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Standard Chartered has made a key hire and appointed a new head of its commodity traders China team.
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The Export-Import Bank of Korea will increase its credit limit for Russian financial service provider Uralsib.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The Japan Bank for International Cooperation has signed a Letter of Intent with Malayan Banking Berhad (Maybank) and its group banks to secure effective financing in the ASEAN region.
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London-listed Russian miner Petropavlovsk’s discussions with Industrial and Commercial Bank of China to fund its Kimkano-Sutarskiy iron ore mining operation are progressing well.
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Citi is the first bank in China to introduce an integrated relationship model for small business owners including an express trade facility.
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National Australia Bank has hired four new people in Singapore, Hong Kong and Tokyo to expand its trade finance presence in Asia.
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Dutch agricultural bank Rabobank has agreed a strategic partnership with state-owned rural lender Agricultural Bank of China.
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HSBC has promoted one of its bankers to head of trade and supply chain in Taiwan.
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Banks are getting ready to launch a one-year refinancing on behalf of commodities trader Noble Group.
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HSBC adds to its Asia trade and supply chain business development team reflecting the overall growth of this line of business.
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The Japan Bank for International Cooperation and the government of the Egypt have signed a memorandum of understanding to strengthen economic relations.
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DBS Group plans to add 25-30 people to its Asian transaction services business this year to expand its footprint in the region.
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JBIC and Nexi included in project finance debt for British Columbia’s Copper Mountain Mining project.
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May
Chinese state-owned export and credit insurer Sinosure has plans to enhance its short-term export and credit insurance capabilities.
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China-Africa Development Fund and China’s Jidong Development Group have announced a joint venture to build a cement manufacturing plant in Limpopo province, South Africa.
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Ivanhoe Mines has signed a mandate letter with IFIs and is selecting lead arrangers for a major financing package for the construction of a mining complex in southern Mongolia.
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The Asian Development Bank (ADB) has held its 43rd Annual Meeting in Tashkent, Uzbekistan, at which the role of trade, infrastructure development and cooperation in post-crisis Asia were cited as vital to building a more resilient economy.
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Oliver O’Connell examines the potential for renminbi trade settlement to usher in a new phase in global trade, and what the advantages are for China’s trading partners.
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US exports rose 16.7% in 1Q demonstrating progress towards the President’s National Exports Initiative goal of doubling exports in five years.
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The EBRD and the Korea Trade-Investment Promotion Agency have signed a trade agreement.
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JP Morgan is now offering RMB trade settlement services from mainland China, mitigating foreign exchange risk and streamlining payments.
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The Japan Bank for International Cooperation has signed a memorandum of understanding with the Asian Development Bank to finance projects aimed at preserving the global environment.
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Sinosure has reported strong growth in export credit insurance for the first quarter of the year.
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April
Commodities trader Glencore has already secured more than $9 billion in commitments through general syndication for its revolving credit facility.
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Deutsche Bank has appointed two new members to its structured trade and export finance team in Asia.
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By Matthew Frohling, Global Product Manager, Supplier Finance, Global Transaction Services, Citi. The trend is toward supporting small and mid-sized suppliers who don’t necessarily ship their goods across oceans.
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Asian Development Bank has signed a loan for the People’s Republic of China to construct biogas plants and expand the use of biogas energy generated from waste materials.
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Brazil, Russia, India and China’s development banks have signed a memorandum of cooperation to enhance trade and economic relations between BRIC countries.
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The International Chamber of Commerce (ICC) has postponed its Banking Commission Spring meeting, due to take place in Beijing on 21-23 April, as volcanic ash continues to cause travel disruptions across Europe.
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Korean Airlines has mandated banks for two separate export credit agency-backed deals.
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The Asian Development Bank and ASEAN nations, with China, Japan and Korea have approved the establishment of the Credit Guarantee and Investment Facility.
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Chinese factoring firm Sinofactor has joined international factoring association International factors Group.
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JBIC has signed a loan and memorandum of understanding with CIMB as part of a wider strategy in developing trade with ASEAN.
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Mizuho is cofinancing a buyer credit for Singapore’s Tata NYK for the purchase of a bulk carrier from Sumitomo Corporation.
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March
The Japan Bank for International Cooperation has signed a buyer's credit agreement with PT. Telekomunikasi Indonesia to finance a high-capacity submarine optic-fibre cable system.
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Société Générale and BTMU have closed a buyer credit loan, backed by Japan’s Nippon Export and Investment Insurance, on behalf of J. Lauritzen to buy six bulk carriers built by Japanese shipyards.
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The Japan Bank for International Cooperation has signed a loan agreement with ICICI Bank in India to support its trade finance.
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China Development Bank has signed a credit line to Russian state-owned Vnesheconombank to finance investment projects implemented within Russia.
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Jonathan Bell talks with Paul Richards, global head of structured export finance at ANZ, based in Sydney, about the bank’s recent hirings, expansion of activity in Asia-Pacific and views on trends in trade flows.
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Four Mongolian banks have joined the Asian Development Bank’s Trade Finance Facilitation Programme.
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The Inter-American Development Bank is strengthening its partnership with China a year on from the country signing up for membership of the bank.
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The Japan Bank for International Cooperation has signed a loan with the government of Turkmenistan for the construction of the country's largest ammonia and urea fertilizer production plant.
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The Japan Bank for International Cooperation has signed a loan agreement with the Korea Development Bank for the purchase of two Japan-built carriers by South Korea Shipping.
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People’s Bank of China governor says China is open to talks on currency values, but like the US it too must create jobs through exports.
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Credit Agricole CIB has opened a new transactional commodity finance business platform in Shanghai.
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The Japan Bank for International Cooperation has signed a loan with Kubota Saudi Arabia Company to build a petrochemical reactor tube manufacturing plant in Saudi Arabia.
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The Japan Bank for International Cooperation has signed a loan agreement with Petróleos Mexicanos to finance the expansion of its Chicontepec oil and gas field development project in mid-eastern Mexico.
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The Export-Import Bank of Korea has issued five and a half-year senior unsecured bonds to raise funding for 2010.
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Export-Import Bank of China has signed a loan agreement to construct Mattala Airport and the Colombo-Matara Railway in Sri Lanka.
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Standard Chartered Bank has teamed with Chinese officials for a trade delegation to promote renminbi trade settlement in Malaysia, Thailand and Singapore.
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ANZ has expanded its team and reach in export finance with key hires for both Singapore and London.
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An IFC loan to China’s Xiwang Sugar holdings will boost both rural employment and further develop sustainable agribusiness.
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Former trade head for Africa to take over responsibility for Citi’s Bank Services Group in the Asia Pacific region.
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February
The EBRD has sold its minority stake in Centerra Gold, the Canadian-based gold mining and exploration company, operating primarily in the Kyrgyz Republic and Mongolia.
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The Japan Bank for International Cooperation (JBIC) has agreed a loan with Japan’s Engineering-Plastics Corporation to build a new polycarbonate production facility in China.
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Asian Development Bank President Haruhiko Kuroda has announced that ADB will open a resident mission in Turkmenistan's capital, Ashgabat.
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The European Bank for Reconstruction and Development is to provide financing to Leighton Mongolia to offer services for at least two Mongolian projects.
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The Japan Bank for International Cooperation, with BTMU, have signed a buyer's credit agreement for Indonesia’s PT Pamapersada Nusantara.
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Korea Eximbank is to provide additional funding for a selection of South Korean small and medium enterprises.
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Companies based in Hong Kong can now issue renminbi bonds under new guidelines announced by the Hong Kong Monetary Authority.
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Kexim is to devise a financing package for a large-scale nuclear reactor project in the United Arab Emirates.
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Citi Global Transaction Services has named Sridhar Kanthadai as managing director, regional head of treasury and trade solutions for Asia Pacific and Japan.
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Norton Rose LLP today announced that Nick Grandage is to join its banking practice in London as a structured trade and commodity finance partner.
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The Japan Bank for International Cooperation has signed a loan with Norske AEDC AS to acquire an interest in the Yme oil field in Norway.
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Under the government of Japan’s Trade Finance Initiative, JBIC has signed its first loan to CAF to directly support trade finance.
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January
HSBC has made several senior appointments in its Greater China and Taiwan trade and supply chain team.
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JBIC is supporting the export to Turkey of a Japanese-built bulk carrier through the utilisation of a ship export credit line.
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China Construction Bank has appointed two London trade finance executives as it expands its London trade finance team.
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A potential slow-down in Chinese trade flows, and the rise of asset bubbles,are among some of the issues to be discussed at Davos, later in January.
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Korean Gas Corporation has closed a refinancing facility for four LNG carriers.
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Brazilian offshore operator Schahin has signed a debt restructuring for its Black Gold drilling vessels, to be chartered by Petrobras.
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The Asian Development Bank is implementing changes to the way it does business to improve the quality and responsiveness of its work and lower transactions costs.
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IBM has completed its first deal under a new factoring entity, IBM Factoring Company Limited, which will offer factoring to businesses operating China.
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Development banks IFC and the EBRD have launched a fund to be managed by the US’s CRG Capital that will invest in distressed assets in Central and Eastern Europe.
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Export-Import Bank of China is guaranteeing a trade loan for Chile’s Banco de Credito e Inversiones (BCI).
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Latham & Watkins strengthens Asia practice with office launch in China’s capital.
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Two major free trade agreements with the Association of South East Asian Nations (ASEAN) have come into effect.
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China’s central bank has stated it plans to expand a trial for yuan cross-border settlements across the whole of China.
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JBIC credit line will help grow Japanese exports to Bulgaria.
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DBS has implemented Surecomp trade finance solution in the UK and Taiwan with plans for further roll out in the Gulf and US.