Today, Standard Chartered and the IFC announced the signing of a $700 million investment in the IFC’s Global Trade Liquidity Programme (GTLP) in support of global trade finance. Since the… read more →
Saying the world’s oceans are vast is an understatement. If one were to sail from Cape Town to Tristan da Cunha, the world’s most remote inhabited island, located over 2,000 kilometres to the nearest land, the voyage would take longer than it took Apollo 11 to reach the moon.
ESG is certainly not a new development, but its growth and importance in financial services have never been higher. Whilst there has been a big focus on the “E” in ESG, we’re also seeing a lot of progress in tackling other aspects, such as social action to address societal challenges. One of the biggest social challenges in global trade is the huge, and growing, finance gap.
On Wednesday, the United States announced that it ratified a deal to cut subsidies contributing to overfishing, becoming the first large fishing nation to do so. United States Trade Representative… read more →
The Court of Appeal in England has decided in MUR Shipping BV v. RTI Ltd [2022] EWCA Civ 1406 (27 October 2022) that sometimes a party must accept payment in Euros, even though the contract expressly stipulated payment to be made in US Dollars. Although the case is not about independent undertakings, DCW readers might ask if the decision could have implications for letters of credit and demand guarantees.
A modernisation package agreed in principle by participants will specifically allow countries to offer greater support for green projects while also expanding the use of export credits in the context… read more →
To put it lightly, the past few years have been a rollercoaster ride for trade finance. Recent challenges have pushed the industry to the boundaries, which has created significant angst for many. However, this struggle also has a silver lining.
The geographically dispersed nature of international trade creates inherent difficulties when it comes to trusting a counterparty that may be located on the opposite end of the world.
WTO economists have revised world merchandise trade growth projections to grow by 1.7% in 2023, down from 2.7% in 2022, according to their latest “Global Trade Outlook and Statistics” report. … read more →
Allianz Trade in Asia Pacific announced its venture into the rapidly growing B2B e-commerce space and has secured the first partnership with Singapore-based B2B Buy-Now-Pay-Later (BNPL) company Bueno.money. Through the… read more →
