Page 7 - Exporta Publishing News Today

Russia’s invasion of Ukraine has placed further pressure on agricultural commodity flows, pushing prices higher and prompting longer-term warnings over food security and fertiliser availability.  Together, Russia and Ukraine provide more than a quarter of the world’s wheat exports and a third of barley exports, according to research by agriculture-focused tech company Gro Intelligence. The ...

Africa’s first continent-wide digital system aimed at facilitating payments for goods and services in local currencies is weeks away from being deployed in live transactions, GTR can reveal. The Pan-African Payment and Settlement System (PAPSS) aims to enable the processing, clearing and settling of intra-African trade and commerce payments, leveraging a multilateral net settlement system. ...

Rising energy prices, shifting trade patterns and margin calls are driving liquidity shortages in the commodities trading market, experts warn, as banks reportedly remain nervous around lending.  Following Russia’s invasion of Ukraine, European and US-led restrictions on oil and gas imports have rattled markets. Oil and gas price rises have accelerated due to potential supply ...

Re/insurance giant Swiss Re has launched its North American trade finance unit with a double hire. Basil Louvaris (pictured) has joined the firm’s global trade finance team as a senior underwriter and lead for the North America region. Starting the role with immediate effect, he reports to the re/insurer’s global head of trade finance, Marilyn Blattner-Hoyle. ...

GTR is pleased to reveal the shortlist for this year’s Leaders in Trade awards, which highlight excellence in the trade, commodity, supply chain and export finance and fintech markets. The names listed under each category are based on submissions sent to GTR and, where relevant, Best Deals signed in 2021 were referenced as further substantiation. ...

Lloyds Bank is ramping up its invoice finance operations in the United Kingdom, taking a 20% stake in cash management platform Satago. Based in London, Satago provides a cloud-based software solution that connects to companies’ accounting software and offers automated credit control, risk management and invoice finance. The two have been working together since December, ...

In a new partnership, trade data and analytics provider Coriolis Technologies will incorporate its environmental, social and governance (ESG) scoring system for commercial transactions executed and financed on blockchain platform MineHub. Launched in 2019, the MineHub platform focuses on trade operations and document flows between metals and mining companies. It allows parties involved in selling, buying, delivering ...

Polestar Performance, a Swedish electric car maker, has closed a €350mn uncommitted green trade finance facility with a syndicate of banks, to support the import of electric vehicles (EVs) into Europe and North America. Standard Chartered acted as structuring bank, as well as coming in as mandated lead arranger together with Nordea. ING and Citi ...

Banks and trading companies are increasingly engaging in “self-sanctioning” against Russian entities in the shipping and commodities sector to avoid trouble with regulators and public displeasure, industry experts say. The US has blacklisted Sovcomflot, which owns a fleet of over 100 tankers, and several individual vessels. Sanctions against other companies and banks push the number ...

The US, European Union and UK are seeking to halt imports of Russian oil and gas, with financiers and traders urged to seek out new sourcing markets while upping support for renewables.  US President Joe Biden has announced a total ban on oil, liquified natural gas (LNG) and coal imports from Russia, while the European ...