Page 31 - Data Controller News Today

Belgium’s export credit agency (ECA) Credendo is weighing up the future of its joint venture with a commercial Russian insurer amid Russia’s invasion of Ukraine, as it nurses an exposure to the country of around €4bn. Credendo, which also offers private trade credit insurance, owns 67% of a joint venture, Credendo-Ingosstrakh Credit Insurance, with Ingosstrakh, ...

Export credit agencies (ECAs) in the EU have been given until the end of next year to set deadlines for ending support for the fossil fuel sector, as the bloc calls for a ban on export credit support for fossil fuels at the OECD. In a statement released following a meeting of EU finance ministers ...

The European Bank for Reconstruction and Development (EBRD) has unveiled fresh trade finance support for businesses affected by Russia’s invasion of Ukraine, both in the war-ravaged country and neighbouring nations. As the conflict approaches its fourth week, the EBRD has announced a €2bn resilience package and says various forms of financial aid will be made ...

Russia’s invasion of Ukraine has placed further pressure on agricultural commodity flows, pushing prices higher and prompting longer-term warnings over food security and fertiliser availability.  Together, Russia and Ukraine provide more than a quarter of the world’s wheat exports and a third of barley exports, according to research by agriculture-focused tech company Gro Intelligence. The ...

Africa’s first continent-wide digital system aimed at facilitating payments for goods and services in local currencies is weeks away from being deployed in live transactions, GTR can reveal. The Pan-African Payment and Settlement System (PAPSS) aims to enable the processing, clearing and settling of intra-African trade and commerce payments, leveraging a multilateral net settlement system. ...

Rising energy prices, shifting trade patterns and margin calls are driving liquidity shortages in the commodities trading market, experts warn, as banks reportedly remain nervous around lending.  Following Russia’s invasion of Ukraine, European and US-led restrictions on oil and gas imports have rattled markets. Oil and gas price rises have accelerated due to potential supply ...

Re/insurance giant Swiss Re has launched its North American trade finance unit with a double hire. Basil Louvaris (pictured) has joined the firm’s global trade finance team as a senior underwriter and lead for the North America region. Starting the role with immediate effect, he reports to the re/insurer’s global head of trade finance, Marilyn Blattner-Hoyle. ...

GTR is pleased to reveal the shortlist for this year’s Leaders in Trade awards, which highlight excellence in the trade, commodity, supply chain and export finance and fintech markets. The names listed under each category are based on submissions sent to GTR and, where relevant, Best Deals signed in 2021 were referenced as further substantiation. ...

A PUBLIC consultation process is underway as Limerick City and County Council seeks to secure authorisation to retain nearly 400 community CCTV cameras across t...

Lloyds Bank is ramping up its invoice finance operations in the United Kingdom, taking a 20% stake in cash management platform Satago. Based in London, Satago provides a cloud-based software solution that connects to companies’ accounting software and offers automated credit control, risk management and invoice finance. The two have been working together since December, ...