Page 71 - Data Controller News Today

Already facing legal challenges over the extent of its ties to Rhodium Resources, Singapore-based Triterras saw its share price plunge by around 25% on January 15 following the publication of a short seller report by hedge fund Phase 2 Partners. Following analysis of transactions recorded publicly on the Ethereum blockchain, the fund alleges that nearly two-thirds of Kratos-based trades between June 2019 and August 2020 were carried out by companies controlled by Srinivas Koneru and Rick Maure...

Saudi Arabia’s ministry of finance has inked a US$3bn untied loan agreement with nearly a dozen international banks and the Republic of Korea’s official export credit agency (ECA). Korea Trade Insurance Corporation (K-Sure) will provide insurance cover for the total transaction, which aims to boost Korean exports to the Middle Eastern country. Crédit Agricole CIB acted as exclusive ECA co-ordinating bank, structuring and documentation bank, agent, as well as bookrunner and mandated lead ar...

The UK’s export credit agency UK Export Finance (UKEF) is providing £1.7bn in backing for a monorail project in Egypt, the largest amount it has ever provided for an overseas infrastructure project. UKEF’s support takes the form of a buyer credit guarantee on a €1.89bn loan facility, including financed ECA premium, for a €2.7bn contract supplied by Bombardier Transportation UK. The facility is administered by a syndication of banks, led by JP Morgan as the initial mandated lead arrange...

Santos joins from Grunfeld, Desiderio, Lebowitz, Silverman & Klestadt, where she spent almost 12 years. Based in Arent Fox’s New York office, Santos will counsel clients on compliance with federal regulations involving the importation of merchandise, and assist them in structuring their transactions to ensure regulatory compliance, minimise duties, and eliminate customs penalty exposure. Welcoming her to the role, Kay Georgi, international trade and investment leader at Arent Fox, says: “An...

Joe Biden has been sworn in as the 46th president of the United States, bringing hope for a more diplomatic and predictable environment for one of the world’s most powerful trading nations. President Biden takes the reins of a country in turmoil because of the pandemic – the US has recorded more than 400,000 deaths ...

CDC Group, a publicly funded development finance institution, has moved to support the Eastern and Southern African Trade and Development Bank (TDB) with a new US$100mn finance facility. The agreement aims to boost TDB’s capacity for providing credit to African businesses in need of short-term financing, and who are grappling with the economic impact of Covid-19. According to a statement from the parties, the commitment will provide top-up loans and much-needed capital to new and existing TDB...

In its 16th annual Global Risks Report, the World Economic Forum (WEF) has stressed the inequalities and challenges that countries and their exporters face in their recovery from the pandemic, as well as the continued threat to business of climate change and geopolitical tensions. According to the research, in the short term, infectious diseases and ...

Public Access to Documents Applications Legal framework The principle of transparency and the rights of individuals to access documents of EU bodies are laid down in both Article 15 of the TFEU and Article 42 of the Charter of Fundamental Rights of the EU and implemented through Regulation (EC)  No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents (Regulation (EC) No 1049/2001). The link of Re...

Trade finance technology firm Traydstream has hired Jerry Shikhule as a global sales and origination lead for Africa, based in Nairobi. Having started last week, Shikhule reports to Traydstream’s chief revenue officer (CRO), Uzair Bawany, and is responsible for banks and corporates on the continent, with a primary focus on deal origination. A spokesperson for Traydstream says that the hire marks the start of the firm’s expansion in Africa, as it looks to build on its existing client base. T...

British manufacturers say that adapting to a new trading relationship with the EU poses the greatest risk to their 2021 business plans, despite the two parties agreeing a last-gasp trade deal in late December. According to a major industry survey carried out by PwC and Make UK, a trade body representing the manufacturing sector, businesses “will again be faced with a myriad of challenges” this year after months of adapting to Covid-19 containment measures. However, with a vaccine on the hor...