Soaring demand for personal protective equipment (PPE) and COVID-19 tests resulted in a scramble for supplies. Governments are borrowing on a grand scale to subsidise and protect domestic capacity.
Trade Finance Global (TFG), today announced a media partnership with Reuters Events flagship Commodity Trading Summit, a virtual series of events featuring commodity producers, traders, buyers and investors.
The pandemic has been vastly disruptive. It has prompted powerful responses from the government and the private sector. The number of new cases globally appears to have stabilised. Lockdown measures early in the quarter weighed heavily on UK growth but the recovery picked up some pace in June, with GDP rising 8.7% from May.
Having an understanding of the types of LC availability, and the differences between them, will help the beneficiary formulate the terms of the letters of credit that it would be willing to accept, and to mention such terms in their discussions and sales contracts with their clients.
TFG heard from Kevin Shakespeare, Director of Stakeholder Engagement at the Institute of Export & International Trade (IOE&IT), on the significant changes in how exporters and importers trade with the EU come 1st January of 2021 – the end of the transition period.
Forecasters are predicting official figures released this week will show the UK economy suffered the worst impact from the coronavirus pandemic of any major advanced economy.
TFG heard from ICC Austria’s Trade Finance Week, in an update around Letters of Credit and Incoterms, the problems, challenges and opportunities. Featuring Bob Ronai and Hugo Verschoren
Your Monday morning coffee briefing from TFG. Productivity in the UK dipped in the first quarter of the year and is likely to fall further as estimates suggest that the fall in output has been greater than the fall in hours worked. Various causes of this slowdown have been proposed including low interest rates, low investment, short-termism in the corporate sector, austerity, Brexit and mismeasurement to name but a few.
The only way to make Trade Finance standardisation and harmonisation opportunity to realise is to make the needed standards coordination and development resources openly available for the business process and systems developers.
Smart Currency Business have collated predictions from major banks and highlighted key factors which may influence the pound, euro and dollar in their latest quarterly forecast.
