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Your Monday morning coffee briefing from TFG. The UK has now administered 22.2m first vaccine doses and 1.1m second doses. Per 100 population, the UK has administered 34 doses, ahead of the US (26), Germany (9) and France (8) but behind Israel (100) and the UAE (63). UK chancellor Rishi Sunak set out his tax and spending plans for the year ahead in his 2021 budget.
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UK chancellor Rishi Sunak set out his tax and spending plans for the year ahead in his 2021 budget
Further support for jobs and individuals offered through the extension of the furlough scheme until the end of September. The chancellor chose not to raise taxes immediately but instead announced a rise in corporation tax from 19% to 25% and a freeze on thresholds for income taxes in the years ahead. Read more →
Independent review recommends reforms to UK Listing rules to boost growth and markets
An independent review called for changes to the requirements for listed companies to encourage businesses to list in the UK. Key recommendations include updating rules around free float requirements and dual-class share structures, with safeguards to maintain UK’s high standards. Read more →
IsDB and ITFC roll out next stage of pandemic trade finance support
The Islamic Development Bank and its trade finance offshoot the ITFC are set to commence the second stage of a US$2.3bn coronavirus support package to boost exports in 57 member countries. After disbursing US$250mn in health-related assistance last year during the first stage of its coronavirus support strategy, the bank says it has signed an agreement with the ITFC to begin a second stage, focused on trade. Read more →
EU and US agree to suspend tariffs in Airbus-Boeing dispute
The US and the EU agreed to suspend tariffs imposed on one another in the long-running dispute over state assistance to Boeing and Airbus. The US also suspended tariffs on imports from the UK which is a party to the case. Read more →
TDB and Asoko launch a digital deal room for renewable energy projects in Africa
TDB and Asoko Insight announced the launch of the TDB Renewable Energy DealRoom, to accelerate the financing of renewable energy projects in the region served by TDB. Through this facility, TDB will finance long-term infrastructure projects, particularly in renewable energy, including those of MSMEs in need of debt financing in the off-grid energy sector. Read more →
UK signs £1.2bn trade partnership agreement with Ghana
The UK has signed a £1.2bn trade partnership agreement with Ghana promising tariff-free trade. The terms of the economic partnership agreement reinstated terms between the two sides when the UK was part of the EU. Ghanian products including bananas, tinned tuna, and cocoa will now benefit from tariff-free access to the United Kingdom. Read more →
EBID grant €10 million credit line for SME finance in Guinea
The ECOWAS Bank for Investment and Development (EBID) has granted a 10 million euro credit line to Vista Bank Guinea to support the financing and promotion of SMEs in the Republic of Guinea. The line of credit is to assist Vista Bank Guinea in strengthening its capacity to finance medium-term loans for SMEs. Read more →
Celebrating International Women’s Day
Today is International Women’s Day. We’ve launched Women in Trade 2021 with AIG, showcasing 48 female role models within global trade, asking for their stories, advice, and challenges on the way to becoming the inspirational leaders that they are today. Read more →
