Your Monday morning coffee briefing from TFG:

The UK has signed its first from-scratch free trade deal of the post-Brexit era with Australia.

The Bank of England has raised rates from 0.1% to 0.25% amid decade-high inflation and Omicron uncertainty.

Willis Towers Watson’s Chris Hall discusses ITFA expansion, trade credit, and non-payment insurance.

The ICC has launched a Legal Reform Advisory Board to support harmonisation of the Digital Standards Initiative (DSI).

And 1 in 3 UK small businesses are planning to cut staff, during the worst year for ports since 1983.

‘More than Australia has ever offered’ – UK signs first from-scratch free trade deal of post-Brexit era with Australia

Announced by the UK’s Department for International Trade (DIT), the deal will set new standards in digital and services trade between the two countries, and will create new work and travel opportunities for both Brits and Australians. Read more →

Bank of England raises rates from 0.1% to 0.25% amid decade-high inflation and Omicron uncertainty

The BoE’s Monetary Policy Committee (MPC) voted overwhelmingly for the rate hike in an 8-1 vote. Read more →

VIDEO: Willis Towers Watson’s Chris Hall on ITFA expansion, trade credit and non-payment insurance

Like many organisations during the COVID-19 pandemic, the International Trade and Forfaiting Association (ITFA) has had to adapt to a changing business landscape. Read more →

CASE STUDY: Swiss export credit agency, SERV, co-insures €130m of €1.5bn Turkish infrastructure project

SERV, the export credit agency of the Swiss government, has successfully co-insured part of a major Turkish infrastructure project worth €1.5 billion. Read more →

ICC launches Legal Reform Advisory Board to support harmonisation of Digital Standards Initiative (DSI)

In a press statement, the ICC said the move is part of its drive to promote inclusion and create opportunity for all parties involved in international supply chains. Read more →

Stagflation: 1 in 3 UK small businesses planning to cut staff, worst year for ports since 1983

New data from the UK has revealed yet more evidence that stagflationary clouds are gathering on the horizon, as both ports and small businesses struggle to recover from the COVID-19 pandemic. Read more →

New APAC free trade agreement covering third of global economy will eliminate 90% of tariffs, says UNCTAD report

The Regional Comprehensive Economic Partnership (RCEP), as the agreement is officially known, will come into force on 1 January 2022, and will create the world’s largest trading bloc by combined GDP, according to UNCTAD. Read more →

Gunvor secures $1.13bn LNG syndicated borrowing base facility with emissions measurement commitments

In what Gunvor believes is a first-of-its-kind agreement, the LNG facility will include measurement commitments on Scope 1, 2, and 3 emissions, as per the Enterprise Carbon Accounting (ECA) taxonomy. Read more→