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May
HSBC has launched a AED1 billion trade fund for SMEs in the UAE open to new and existing customers with cross border trading requirements.
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Global Business Intelligence (GBI) has published the third edition of its supply chain finance guide focussing on the impact of the Basel capital accord on trade credit and issues from both a buyer-centric and seller-centric model.
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Citi has appointed a new head of corporate and investment banking for the Philippines.
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Finacity and NordLB increase a trade trade receivables securitisation facility for German-headquartered shipping company Hapag-Lloyd Group.
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Citi launches payment analytics tool on CitiDirect BE for increased visibility of payment activities.
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Fundtech introduces global liquidity and risk management solution to better measure, manage and monetise banks’ global cash and collateral.
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HSBC has today launched a mobile payment service for corporates in India.
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HSBC has created a new role within its Asia-Pacific trade and receivables finance department and appointed a head.
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BMO Financial Group has opened a representative office in Abu Dhabi and becomes the first Canadian bank with an onshore presence in that market.
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UAE-based Mashreq has upgraded its trade and working capital facility for small businesses.
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New research from Demica reveals that the European invoice finance market is now worth over Eu1 trillion.
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UniCredit in Germany has launched an app for its corporate customers providing them with an overview of their liquidity and transactions.
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RBS Citizens has created a new treasury solutions group within its commercial banking organisation.
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April
According to data from Swift, after Hong Kong, the largest contribution to global RMB payments now comes from Europe.
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Swift has launched an institute to finance research into global transaction banking that will seek solutions to pressing industry issues.
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Citi appoints Amol Gupte head of transaction services for Asia-Pacific.
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Citi Latin America has unveiled a new executive management team and structure centred on five geographic markets: Brazil, Colombia, Chile, Central America and the Caribbean, and South America.
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Australia’s Westpac is open its first branch in India to increase commercial banking in the region.
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Supply chain finance provider PrimeRevenue names Americas region GM.
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CIT has appointed Andrew Brandman as chief administrative officer.
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Helen Castell talks to EMEA short-term trade financiers and finds them particularly active, innovative and un-phased by the talk of crises and default.
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HSBC recently brought together its traditional trade and receivables finance businesses. Here, Adrian Rigby, Global Deputy Head of Trade and Receivables Finance for HSBC looks at how this benefits its customers.
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The global financial crisis and its repercussions continue to be felt in most parts of the world, the US continues to wrestle with deficit and unemployment issues, and the eurozone battles sovereign crises that threaten the fabric of partnership, and the future of the euro. Alexander Malaket explores the impact of the eurozone crisis on trade finance in the Americas.
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Livingston International has finalised its acquisition of the customs and trade compliance services of JPMorgan Chase.
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March
HSBC reports that its HSBCnet Mobile service has seen a big uptake in corporate e-commerce payments since its launch late last year.
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Dickon Harris reports on a new set of trade finance definitions that show, for the first-time, how trade banks perceive the risk profile for traditional trade finance products.
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Dickon Harris reports on a new set of trade finance definitions that show, for the first-time, how trade banks perceive the risk profile for traditional trade finance products.
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USA’s IIG Capital LLC is rebranding its trade finance division as IIG Trade Finance LLC.
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JP Morgan offers its reaction to the PBOC’s bilateral currency swap with the Reserve Bank of Australia, a move expected to boost renminbi trade settlement.
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Marfin Group extends its usage of Temenos T24 (T24) to its Ukrainian subsidiary, Marfin Bank Ukraine.
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Capital Business Credit hires Steven Fields to lead business development efforts in Midwest.
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PBOC’s bilateral currency swap with the Reserve Bank of Australia will help boost renminbi trade settlement.
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JP Morgan adds China, India and Vietnam to its mobile treasury platform.
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Aqua Star selects PrimeRevenue Supply Chain Finance to address its short term liquidity concerns, and derives early cash flow benefits.
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Bank of America Merrill Lynch has launched TradePro, its next generation integrated, full service trade and supply chain portal.
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Syncada names former RBS banker as new global head of product solutions.
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SWIFT instructed to disconnect sanctioned Iranian banks following EU Council decision.
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Deutsche Bank appoints two global transaction banking heads for Indonesia and Vietnam.
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Citi has been named US General Services Administration’s government-wide solution provider to streamline transportation payments.
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Global supply chain finance Software as a Service (SaaS) provider PrimeRevenue has hired a new CTO to lead development of the OpenSCi solution.
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INTTRA has announced an alliance with Tradeshift, a global secure online electronic invoice network, to support growing industry demand for standardised ocean electronic invoicing.
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Netherlands-based women's apparel retailer MS Mode has gone live with TradeCard’s trade platform.
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Citi has launches a new trade desk in Shanghai to serve as a link for Latin American clients looking to do more business in Asia.
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First Finance Company, a subsidiary of The Swaziland Development Finance Corporation (FINCORP), has begun to offer non-recourse factoring.
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Alliance Lite2 will provide an uncomplicated, low-cost cloud-based option to enjoy the security and standardisation that comes from using SWIFT.
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Standard Chartered has appointed a new global head of SME banking with responsibility for 30 countries across Asia, Africa and the Middle East.
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UK specialist steel products producer Metalrax secures RBS Invoice ABL deal.
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Supply chain finance platform provider PrimeRevenue is continuing its global expansion with the appointment of a general manager for Europe.
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Bottomline Technologies has formed a strategic relationship with Intuit.
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Northern European firms’ confidence in China has tumbled further since September according to a report by SEB.
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UK’s Aldermore has hired an associate director from rival Close Invoice Finance.
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February
Mexico’s Banco Monex has gone live with allTRA, Surecomp’s Java J2EE trade finance bank back-office solution.
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Bank of Ireland is in the process of selecting a new head of trade finance as its present head plans to leave the bank at the end of March.
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ANZ has made several internal appointments to its senior leadership team for its combined global institutional and Asia-Pacific Europe and America (APEA) division.
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In partnership with the NYSE Euronext, The Receivables Exchange (TRE) is pioneering a more efficient way of bringing liquidity into the trade finance market. Oliver O’Connell spoke with Andrew Webb, head of corporate finance at The Receivables Exchange, and Paul DeDomenico, head of global corporate receivables programmes at NYSE Euronext.
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Despite a contraction over the next five years UK trade is set to increase by 59.01% by 2026, according to a report by HSBC.
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Reluctance to pay Chinese trade partners in renminbi (RMB) is costing UK importers, says a report today from Western Union Business Solutions
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Bank of America Merrill Lynch (BofAML) has revealed the results of its inaugural CFO Outlook Asia research poll.
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Standard Chartered launches programme to deliver fast, reliable US dollar payments to Asia.
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HSBC’s latest Global Connections trade forecast predicts global trade to accelerate form 2014, and China to become the world’s largest trading nation by 2016.
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HSBC has launched a new fund aimed at assisting small and medium sized enterprises to trade internationally.
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Barclays Corporate has provided costume maker AFG Media with a short-term, £600,000 trade finance loan, allowing it to increase production of morphsuits to meet global demand.
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HSBC’s Global Connections Trade Forecast finds both US and global trade accelerating ahead of expectations.
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The Royal Bank of Scotland has launched a new China desk to coordinate trade flows between China and EMEA.
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Boeing and Citi to offer small businesses quicker access to cash, lower financing costs, and inject liquidity to help suppliers sustain jobs through US Ex-Im programme.
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Arab Banking Corporation (ABC) has revealed that it made a $204 million profit in 2011, a rise of 43% compared to 2010.
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RBS has appointed a new product head of trade finance.
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HSBC has promoted a banker to the newly created role of head of UK trade, receivables and equipment finance.
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The UK trade deficit contracted in December 2011 according to figures released by the Office for National Statistics (ONS).
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Financial industry agrees offshore RMB guidelines to ensure straight-through processing of offshore Chinese currency.
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PrimeRevenue achieves significant customer growth in 2011 as interest grows in supply chain finance.
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Alcatel-Lucent teams with Crédit Agricole CIB to become the first corporate to manage its bank guarantees using SWIFT’s MT 798.
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ICC Banking Commission appoints Deutsche Bank's Schmand as vice chair responsible for supply chain finance.
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Russia’s Sberbank reported a record trade finance turnover for 2011. Dickon Harris examines the bank’s trade finance strategy for 2012.
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HSBC promotes banker to lead its London offshore RMB business.
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The International Credit Insurance & Surety Association (ICISA) has expressed concern over the deteriorating trade outlook for 2012, and the lack of financing by banks.
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Kazakhstan’s BTA Bank announces formation of creditors’ steering committee and meeting in London tomorrow.
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JP Morgan treasury services has unveiled its JP Morgan ACCESS Mobile banking platform in Asia Pacific.
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Deutsche Bank reports 7% growth in net revenues for global transaction banking for 2011, despite a slight increase in trade credit losses.
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The IFC is in talks with third party SCF platform provider PrimeRevenue to arrange a second supply chain financing (SCF) deal under its newly established SCF programme.
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Speaking at Trade Finance Magazine’s Supply Chain Finance Europe conference in Frankfurt, Klaus-Peter Müller warns of the impact the EBA capital buffer will have on trade and supply chain finance.
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Misys signs software licensing deal to help banks optimise business processes.
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GE Capital has provided an asset based loan to Glasgow-based safety equipment and work-wear supplier Willis Safety.
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High-technology group Safran has selected GlobalTrade Corporation’s multi-bank trade finance platform for monitoring trade credits.
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January
The latest trade traffic statistics from SWIFT reveal there has been a 2.23% decline in the use of documentary trade instruments during 2011.
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Fundtech has partnered with Australian payment services firm Dataline to offer electronic invoice presentment and payment (EIPP) in Asia-Pacific.
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Oliver Belin has been appointed as business development executive for PrimeRevenue Europe.
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JP Morgan has hired a new managing director for its Treasury Services business covering export and supply chain finance across the Americas.
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Barclays appoints new head of trade and working capital, Middle East.
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Jordan’s Investbank has established its second subsidiary – Al Imdad, ?specialising in trade finance and supply chain logistics for traders and manufacturers.?
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PrimeRevenue has announced record growth for 2011 and introduced its new OpenSci™ cloud-based supply chain finance interchange.
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A joint survey by the ICC and the IMF says the lack of availability of trade finance, especially from deleveraging banks, will lead to depressed trade volumes for 2012.
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BBVA has relocated its transactional trade finance head to New York to maximize its cross border business and Latin American and USA networks.
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Deutsche Bank appoints UK trade finance director.
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RBS is merging its corporate banking business with its global transaction services (GTS) arm to form a new international banking unit.
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Livingston International is to acquire the customs and trade compliance services of JPMorgan Chase.
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Misys opens centre of excellence in Beijing in response to significant growth in Chinese business.
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HSBC North America has today appointed a new head of commercial banking for the region based in New York.
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Arab Banking Corporation has announced changes to the top management team at its key European subsidiary, ABC International Bank London.
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Société Générale Corporate and Investment Bank (SG CIB) reveals fresh job cuts in France in addition to planned job losses in Asia and the US.
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RBS to merge a reduced investment bank with its corporate and global transaction services business.
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SMBC has appointed a new group head in Seoul and a new head of trade in Dubai.
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By Chris Conn, Sr. Business Manager, Banking & Corporate Initiatives – Americas, SWIFT