Page 49 - Data Controller News Today

The UK government’s rush to secure new trade agreements means it may not be doing enough to ensure companies can take advantage of deals already reached, according to an independent audit.  A report published today by the National Audit Office (NAO), a public spending watchdog, says officials have made “significant progress” in running multiple trade negotiations at the same time.  The ...

Danish export credit agency EKF has signed its largest ever export loan for the construction of a high-speed railway project in Turkey. The agency is lending €576mn to the Turkish finance ministry for the project. The loan is classified as green because the electric railway is categorised as sustainable under the EU’s sustainable financing taxonomy. ...

Trade finance marketplace LiquidX has launched an automated digital distribution tool for trade finance assets, as part of efforts to do away with inefficient paper-based processes. The fintech company says that US$400-500bn of bank-intermediated trade finance is distributed annually, predominantly manually. Its solution addresses this by allowing banks and asset managers to initiate single-click trading ...

British Arab Commercial Bank (BACB) has hired Paul Jennings as chief banking officer and deputy chief executive.  Jennings previously spent more than 21 years at ABC Bank, most recently as managing director and chief executive. He was also group head of the bank’s global trade finance business between 2005 and 2015.  BACB, which specialises in supporting trade in ...

Global commodities trader Mercuria has closed an oversubscribed US$2.2bn revolving credit facility from a group of banks in North America. Financing will back the company’s working capital needs in the region, as well as wider efforts to boost Mercuria’s renewable portfolio on the continent and transition towards greener business. The multi-year senior secured borrowing base ...

The trade of merchandise goods hit a record US$5.6tn in the third quarter of 2021, according to the UN, but concerns are growing that the Omicron variant of coronavirus could disrupt supply chains and threaten further recovery. World trade is continuing its strong recovery from the pandemic, states the United Nations Conference on Trade and ...

To welcome in a fresh new year, Visit Belfast has organised for one lucky Irish Times reader to win a luxury two-night stay in Belfast for two.

SSE Renewables and Equinor have closed financing for the final stage of their Dogger Bank wind farm project off the northeast coast of England, drawing in dozens of lenders and a trio of export credit agencies (ECAs). In a deal announced this week, the two energy companies have secured around £3bn for Dogger Bank C, ...

The Irish Times has teamed up with the Glenroyal Hotel to offer one lucky reader an overnight stay in one of the comfortable and stylish bedrooms, a full Irish breakfast and dinner on one night of your choice at The Enclosure, the hotel’s new restaurant.

Greensill’s use of risk mitigants, including trade credit insurance and export credit agency guarantees, was extensive. However, since the company’s collapse, doubts have been raised over its dependence on such cover, and in some cases, whether policies or guarantees were valid in the first place. John Basquill examines the controversial claims at the heart of ...