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February 23, 2022
Supply chain logjams and macroeconomic headwinds look set to put the brakes on global merchandise trade’s post-Covid comeback, the latest industry data show. According to a new report from the United Nations Conference on Trade and Development (UNCTAD), the overall value of global trade reached a historic high of US$28.5tn last year, an increase of ...
February 23, 2022
Sinochem, China’s fourth-largest state-controlled oil company, has carried out the country’s first digital warehouse receipt pledge for crude oil, using 66 Cloud Chain, its blockchain-based supply chain infrastructure. The transaction saw Qingdao Taihe Jiabai Energy, a subsidiary of Shandong Jingbo Petrochemical, receive Rmb40mn (US$6.3mn) in financing from Shandong Port Finance Holding by pledging digital warehouse ...
February 23, 2022
Surecomp, a provider of trade finance systems to banks and corporates, has partnered with Swedish fintech Enigio to add digital original documents into its cloud-based solution. The tie-up embeds Enigio’s trace:original digital trade finance documentation product into the Surecomp system, enabling Surecomp customers to create, manage and exchange digital trade documents such as letters of ...
February 23, 2022
Governments in the US and Europe are seeking to disrupt Russian exports in response to the country’s aggression in Ukraine, unveiling fresh sanctions targeting its development bank and export credit agency, and halting the approval of the Nord Stream 2 gas pipeline. The measures were announced on yesterday, following President Vladimir Putin’s statement that Russia ...
February 23, 2022
Japan’s SoftBank has accused Credit Suisse of using court proceedings as a means of “manufacturing claims” against the group, as the Swiss lender continues to pursue losses arising from the failure of Greensill. The dispute relates to a receivables financing arrangement provided by Greensill to US construction company Katerra. Katerra ran into financial difficulties in ...
February 22, 2022
Copyright Copyright ©2023 Cleveland Scene, Inc. all rights reserved. Cleveland Scene is a wholly owned subsidiary of Euclid Media Group LLC. Reproduction in whole or...
February 22, 2022
A UK High Court judge has found that ED&F Man was the victim of a warehouse receipts fraud that ensnared multiple banks in 2017, and has awarded the commodities trading house US$282mn in damages. The fraud, which became public in mid-2017, involved nickel stored at London Metals Exchange warehouses across Asia. It rattled a commodities ...
February 22, 2022
Copyright Copyright ©2021 Detroit Metro Times, Inc. all rights reserved. Detroit Metro Times is a wholly owned subsidiary of Euclid Media Group LLC. Reproduction in...
February 22, 2022
Copyright Copyright ©2021 Orlando Weekly, Inc. all rights reserved. Orlando Weekly is a wholly owned subsidiary of Euclid Media Group LLC. Reproduction in whole or...
February 22, 2022
Copyright Copyright ©2021 Riverfront Times, Inc. all rights reserved. Riverfront Times is a wholly owned subsidiary of Euclid Media Group LLC. Reproduction in whole or...