Your Monday morning coffee briefing from TFG. Aung San Suu Kyi’s whereabouts are unknown following a military coup in Myanmar. The UK meets its first major vaccine target, with a record number of jabs administered over the weekend. Redditt day traders have switched their sights to silver after sending GameStop share prices soaring last week.
UK applies to join Asia Pacific free trade pact CPTPP
The UK has applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The area covers 500 million people across 11 different nations, with members including Australia, Canada, Japan and New Zealand. The member countries currently account for 8.4% of UK exports. Read more →
Corporate Payment Undertaking (CPU) defined by GSCFF
The Global Supply Chain Finance Forum (GSCFF) has updated its Standard Definitions to provide further clarity on the distinctions between the individual techniques. Among those added are Corporate Payment Undertaking (CPU), Dynamic Discounting (DD) and Bank Payment Undertaking (BPU). Read more →
Stage set for Virtual World Trade Symposium 2021
TFG are delighted to be partnering with the World Trade Symposium 2021. Taking place Tuesday to Thursday this week, the virtual event has a packed agenda, with speakers including Mukhisa Kituyi, Secretariat-General at UNCTAD and Raj Subramaniam, President of FedEx. Find out more and register here →
What happened at BCR Publishing’s Supply Chain Finance Summit?
Last week saw BCR Publishing’s two day virtual summit, with keynote speakers from the world of trade finance. Dr Robert Koopman from the WTO gave his analysis of what 2021 had in store. We also got some great insight in the Banks vs Fintech debate when considering an SFT programme. Read more →
EBRD shareholders approve membership of United Arab Emirates
The United Arab Emirates (UAE) has taken the first step towards becoming a member of the European Bank for Reconstruction and Development (EBRD). The EBRD Board of Governors’ have approved its request to become a shareholder of the multilateral financial institution. Read more →
MC Payments set to become Singapore’s first listed digital payments firm
Artivision Technologies Ltd. shareholders have approved the proposed reverse takeover of electronic payments company, Mobile Credit Payment Pte. Ltd. The acquisition is expected to be completed on the 18th February 2021, with Artivision renamed MC Payment. Read more →
Asos buys TopShop, TopMan and Miss Selfridge brands
The online fashion retailer has purchased a number of high-profile labels from Philip Green’s fallen Arcadia empire. The total bill comes to £295 million, though the online firm is not taking on the high street stores, placing 2,500 jobs at risk. Read more →
Silver price surges after Reddit army turn to commodities
The share price of silver shot to a five-month high today, after users of the online platform put out a call to invest in the precious metal. It is the latest example of small-time traders buying stocks that large hedge funds are betting against. Read more →
Vaccine hope sees IMF upgrade global growth forecast
Vaccination efforts have seen the International Monetary Fund upgrade its forecast for global economic growth to 5.5% this year and 4.2% in 2022. USA and Japan have been given the largest upgrades, while the UK’s 10% contraction has been labelled the largest of the G7 economies Read more →
African banks sign up to tackle Zimbabwe border chokepoint
Rand Merchant Bank (RMB) and Nedbank and Standard Bank are among those to have signed a US$194mn senior debt facility to rehabilitate the Beitbridge border post, a crossing that connects Zimbabwe and South Africa. Read more →
