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Your morning coffee briefing from TFG. Director-General Okonjo-Iweala highlights the crucial role of trade in combating the effects of the Covid-19 pandemic and reviving the progress towards the Sustainable Development Goals, Brussels delays digital levy plan to increase support for global corporate tax reform, the spread of the Delta variant threatens Europe’s economic rebound and UK advertising watchdog to crack down on misleading crypto marketing to project consumers
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Trade can help put UN Sustainable Development Goals back on track: DG Okonjo-Iweala
In a keynote address to the UN’s High-level Political Forum on Sustainable Development, Director-General Ngozi Okonjo-Iweala said trade has an essential role to play in efforts to combat the COVID-19 pandemic and revive progress towards the Sustainable Development Goals (SDGs). Read more →
Brussels set to delay digital levy plan after G20 backs tax deal
Brussels is set to delay plans for its controversial digital levy until the autumn in an effort to boost the prospects of a global corporate tax reform deal. Read more →
Spread of Delta variant casts shadow over Europe’s economic rebound
The rapid spread of the Delta coronavirus variant is causing economists to worry that Europe’s brightening economic outlook risks being undermined by rising infection levels and the reintroduction of travel and social restrictions. Read more →
Gunvor secures USD 872.5 million off balance sheet instrument facility
Gunvor announces the successful signing and increase of its USD 872.5 million Off Balance Sheet Instrument facility (“Facility”) after receiving a substantial over-subscription of 45% and high levels of support from Gunvor’s banking partners. Read more →
Finastra to co-develop a tailored version of the Fusion Opics treasury solution for the Chinese market
Finastra and Hangzhou Hundsun Lirong Software Co. Ltd. to co-develop a tailored version of Finastras’s Fusion Opics treasury solution for the Chinese market. This treasury solution- currently, used by over 180 customers in more than 300 sites around the world- will enable banks to develop and deliver high-quality treasury operations and capitalize on opportunities. Read more →
Republic of Ghana secures 203 million euro financing agreements for health and transportation infrastructure
Deutsche Bank announces the closing of two new 203 million euro social loans with the Republic of Ghana. The financing agreements have a 95 percent insurance cover by the African Trade Insurance agency (“ATI”) and are set to fund four health and two transportation projects in Ghana. Read more →
Bridge Bank Group, Cote d’Ivoire (BBGCI) receives €10 Million from ITFC to aid in SME funding
The International Islamic Trade Finance Corporation’s West Africa SME Program receives €10 million to finance Covid-19 recovery, job creation, support SMEs and the private sector. Read more →
UK government must “reform itself or fail”, commission reports
The Commission for Smart Government, an independent review set up and led by former Conservative minister Lord Nick Herbert, said on Monday the government “must reform itself or fail” after the coronavirus pandemic, proposing sweeping changes to recruitment and departmental structures. Read more →
UK advertising watchdog to crack down on misleading crypto marketing
The UK’s advertising watchdog said it will clamp down on misleading marketing for crypto investments as part of a wider move by regulators to prevent harm to consumers who decide to trade unregulated digital assets. Read more →
Shell-shocked! Trade finance tortoise ???? ‘Bixi’ picks wrong UEFA winner ⚽️
An infamous tortoise, by the name of ‘Bixi’, unsuccessfully predicted England snatching the 2020 UEFA European Football Championship. Bixi, a rescue sulcata tortoise from the family Testudinida, has been involved in a series of predictions around the UEFA 2020 championship, promoted primarily through LinkedIn, the popular social media platform for businesses. Read more →
