After years of dealing with the oppressive clouds of COVID-19, the world has since experienced the bloodiest land war in Europe since World War II, inflation levels unseen since the 1980s, rising interest rates, and large scale political instability across all regions. And now, a looming debt crisis in the US.
In international trade, shipping containers are vital for transporting goods safely and securely. To use them, however, many shipping lines require traders to put down deposits – known as container deposits – to safeguard against possible liabilities such as damage, demurrage, or total loss of the container.
Economically disadvantaged people have been trafficked into countries as sources of “cheap” labour throughout history. The International Labour Organization estimates more than 50 million people around the world are trapped in some form of modern slavery.
Just over two weeks ago, Commodity Trading Week gathered over 300 experts from across the world, tackling some of the most pertinent questions and challenges in the industry. TFG summarises the key findings.
Fast fashion brands are looking at technology to help improve supply chain sustainability and meet their environmental, social, and governance (ESG) targets.
Historically, the Middle East and North Africa (MENA) region has always been a cornerstone of the global trade landscape, with its strategic location, abundant resources, and diverse economies. However, the region’s complex geopolitical dynamics, regulatory challenges, and ever-changing markets have posed significant obstacles to trade finance in recent decades.
The financial services industry is constantly changing, and the pace of change is accelerating rapidly, especially for the payments sector. The industry has witnessed many shifts: from the barter system to cash, from cheques to cards, and from cards to digital banking and payments.
The COVID-19 pandemic caused global central banks to take emergency action to support the world’s economies; one such measure was the rapid cut in interest rates to record lows.
The Single Trade Window (STW) is a technology concept proposed within the 2025 UK Border Strategy, published by the Cabinet Office in 2020. It builds upon the recommendation and guidelines proposed by the United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT).
As part of trade facilitation, the UK government introduced the Electronic Trade Documents Bill, which is currently undergoing legal stages before being fully enforced. It’s a great step forward, however, industries need more than that.
