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The Japan Bank for International Cooperation (JBIC) has confirmed it will provide project financing to the Vung Ang II coal project in Vietnam, despite pressure from climate activist and investor groups to reverse course and drop the deal. Alongside the Export-Import Bank of Korea (Kexim) and a group of private lenders, the Japanese export credit agency (ECA) will provide nearly US$1.8bn in loans for the project. Funds will go towards a limited liability company set up in Vietnam, which has rec...

Introduction The evolution of the Internet has changed the world in many ways. Physical (traditional) operations and daily interactions have over time been supplemented, overshadowed or totally supplanted by online versions riding on the back of developments in information and communication technology (ICT), and consequent migration into cyberspace. ICT has become, within a very short time, one of the basic building blocks of modern society, forcing and creating a culture of dependence on innov...

5 Also, much more opportunities in data privacy management envisaged by the Nigeria Data Protection Regulation (NDPR), 2019 will be created. For SCs development to gain much traction, there is the need for a concerted effort by all stakeholders in the real estate sector; public and private sector operators on one hand and technology developers and innovators on the other hand towards improving the Nigerian housing and urban planning landscape. More so, given the recently launched Nigerian Strat...

Following the collapse of energy trader Hin Leong in April 2020 – amid allegations of multiple financing, invoice forgery and other fraudulent activity – there have been a string of court cases filed against oil trading houses in Singapore, as banks scramble to claw back lost funds. However, Bank of China’s claim against BP appears to be the first time since that scandal that fraud accusations have been filed against an oil major. By contrast, larger traders have characterised the latter...

The Asian Development Bank’s (ADB) trade and supply chain finance programme (TSCFP) has unveiled a US$500mn facility to support the purchase of Covid-19 vaccines and related equipment. The facility will provide unfunded support guarantees for private sector purchases of these items, covering the risk of non-payment. Through risk-sharing with its partner banks, the ADB says that the total amount of the facility could be leveraged to US$1bn. “The TSCFP is an excellent crisis response vehicle,...

Following the revelations of commodity trading giant Vitol’s widespread bribery schemes in Latin America, an NGO has called for more stringent and “tailored” regulations to be imposed on Swiss commodity traders. Earlier this month, Vitol agreed to pay US$135mn to US and Brazilian authorities after admitting it had bribed officials in Brazil, Mexico and Ecuador, muscling out competitors and gaining contracts from the countries’ state-owned oil firms in the process. The US Department of J...

Goldman Sachs has continued its venture into new technological territory, following up the launch of a transaction banking service in mid-2020 with an API-based offering that lets clients embed banking services directly into their own products. The US-headquartered banking giant has added hundreds of clients and US$28bn in deposits since the establishment of its transaction banking service, a spokesperson says. Chad Wallace, global head of digital product and design at Goldman Sachs, tells GTR...

Waldo de Vleeschauwer, co-founder and former managing director of Africa Merchant Capital’s trade finance business, has launched Artis Finance, a London-headquartered alternative finance provider. Artis is founded against a backdrop of growing market and regulatory pressure on traditional bank lenders, which de Vleeschauwer says has made it more difficult for companies of all sizes and sectors to access trade finance. The company plans to partner with mid-market corporates looking to optimise...

James Binns, global head of trade and working capital, Barclays Mencía Bobo, global head of trade and working capital solutions, Santander Michael Hogan, head of transaction banking in Emea, MUFG Naeem Khan, global head of trade finance, Crédit Agricole CIB ( chair) Daniel Schmand, global head of trade finance, Deutsche Bank Enno-Burghard Weitzel, global head of trade products, Commerzbank Martina Zimmerl, head of trade finance, Raiffeisen Bank International  

‘Smart City’ Options: Optimizing Real Estate Development in Nigeria Nigeria December 15 2020 “Successful public-private partnerships combine the technology and innovation of governments, cities and companies to benefit citizens. By working together for the greater good, public-private partnerships can help accelerate the pace of change and implementation of smart cities infrastructure.” Hubert Riley, Vice President, External Affairs at Verizon Introduction The idea of a “Smart C...