Page 56 - Data Controller News Today

Compliance vendor Cleareye.ai has hired Vamil Karimbil as head of trade products and senior vice-president. In the newly created role, Karimbil is tasked with expanding the fintech company’s ClearTrade product in Asia Pacific and Europe, as well as clinching new partnerships. The Los Angeles-headquartered company says ClearTrade is designed to ease regulatory compliance and sanctions screening processes in trade operations. Before joining Cleareye.ai, Karimbil spent almost 15 years in the UK ...

The Irish Times has teamed up with The Harbour Hotel, Galway to offer one lucky reader the chance to win a breakaway for two at the award winning four-star hotel in the heart of Galway city.

Investec is setting up a new trade finance team in South Africa, GTR can reveal, with the banking and wealth management firm looking to expand into new areas and strengthen its African presence. The new team will be part of the financial products team within Investec’s corporate and institutional bank in South Africa, and will work closely with fully owned subsidiary Investec Bank Mauritius. It is headed by George Wilson, who joins after more than 11 years at Absa, most recently as a directo...

The UK’s Serious Fraud Office (SFO) has an­n­ounced it is investigating potential fraudulent trading and money laundering at GFG Alliance, dealing another serious blow to the group’s efforts to find emergency funding after the collapse of Greensill. The SFO announced on May 14 it would probe “suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business of companies within the Gupta Family Group Alliance (GFG), including its financing ...

The Irish Times has teamed up with Dublin Climate Dialogues to offer 50 lucky subscribers the chance to win an exclusive VIP ticket to this years pre-COP26 virtual event. Success at COP26 is critical. Urgency, acceleration and decisive actions are needed. Join senior government officials, academia and business leaders as they forge a Declaration to raise global ambition at COP26 - Conference of the Parties. Chaired by Pat Cox, the former President of the European Parliament the line-up of spe...

London-based investment manager Acre Impact Capital, which focuses on infrastructure in emerging markets, has secured fresh investment as it looks to narrow a daunting US$100bn financing gap in Africa. The company announced in early May it had secured catalytic investment from The Rockefeller Foundation and GuarantCo, which is part of the Private Infrastructure Development Group (PIDG) and is funded by the governments of the UK, Switzerland, Australia and Sweden. Acre Impact Capital partners wi...

The International Finance Corporation (IFC) has provided Africa’s first ever certified green loan to South Africa’s Absa Bank to fund renewable energy projects in the country.  The IFC, the World Bank’s private investment arm, will lend Absa US$150mn, which the bank will onlend to finance “biomass and other renewable energy projects” in South Africa, an IFC statement says.  The statement, which does not provide further details on the nature of the projects, says the deal is the firs...

Traxys, a Luxembourg-based metals and natural resources trader, has refinanced and extended its revolving credit facility (RCF) in an oversubscribed deal that saw the entry of new banks into the syndication. The deal, a US$1.33bn multicurrency syndicated RCF, was signed last week, and replaces a US$1.29bn RCF that closed last year. The facility is structured in four tranches: a one-year committed borrowing base tranche, a three-year committed borrowing base tranche, a one-year uncommitted borro...

Greensill, which filed for insolvency in March, has faced widespread criticism for allegedly lending against hypothetical invoices – in some cases from companies that However, giving evidence to the UK parliament’s Treasury Committee on May 11, founder and chief executive Lex Greensill was asked by Labour MP Siobhan McDonagh about lending in situations where there “was no inventory and there was no invoice, there was no evidence of any activity or business whatsoever”. Greensill repli...

Singapore-based GUUD Finance has signed a working capital agreement with Australian renewable fuel producer Just Biodiesel, marking the trade technology company’s first foray into green energy. The two companies signed a short-term US$4mn working capital agreement on May 5, which will see GUUD Finance support the process of purchasing raw materials, converting those into fuel ...