Page 9 - Exporta Publishing News Today

Tradewind Finance has partnered with Finamco, a Colombian financial services company, to boost its presence in the Latin American country and the surrounding region. Established in Germany in 2000, Tradewind now has more than 20 offices, including two in Latin America – one in Brazil and another in Peru. Finamco, which was set up in ...

The Central Bank of Egypt (CBE) has said it will require importers to use letters of credit (LCs) rather than documentary collection when buying from abroad, despite business concerns over the move. CBE’s rule change, which aims to address import governance issues in the country, came into effect at the beginning of March. “[In recent ...

The US government has slapped sanctions on more than a dozen companies and people it claims are involved in a commodity trading scheme to finance the Houthi rebels in Yemen. The US Treasury says a network led by Iran’s Revolutionary Guards Corps and previously sanctioned financier Sa’id al-Jamal “has transferred tens of millions of dollars ...

Banks across the world are reviewing all trade and commodities transactions involving Russia as the nation’s economy becomes a “massive moving target” in the crosshairs of sanctions enforcers in the US, Asia and Europe. Governments, including those of the US, UK, EU, Japan, Singapore, South Korea and Australia, have now imposed, or vowed to impose, ...

Trade data and analytics provider Coriolis Technologies has launched the first iteration of its Kosmos environmental, social and governance (ESG) scoring tool in partnership with banks, insurers and professional bodies. Kosmos, described by Coriolis as a “for the industry by the industry” ESG monitoring and passporting instrument for global trade flows, is aimed at enabling ...

Mid-market supply chain finance (SCF) platform Finverity has appointed Ahanna Anaba to the newly created role of head of sales, digital solutions and partnerships. Anaba joins from Africa-focused investment deal origination platform Orbitt, where she was head of transactions. During her time at Orbitt, she led the transactions team and managed US$1.3bn-worth of investments transactions ...

Crédit Agricole has promoted Javier Sanchez-Asiain to the position of global head of global trade finance. Sanchez-Asiain made the move to Paris in January from London, where was head of the UK international trade and transaction banking team. He replaces Naeem Khan, who is moving to another position within the French lender. Sanchez-Asiain, who has ...

Australian trade finance platform Marketlend says it intends to file further lawsuits against trade credit insurer the Bond & Credit Company (BCC) and its parent, Tokio Marine, for what it says is failure to honour claims filed after a spate of insolvencies in the Asian commodities trading sector. Marketlend last year asked Australia’s Federal Court ...

Evolution Credit Partners, an alternative credit manager, has launched a trade credit protection (TCP) programme to protect sellers and their related account receivables against non-payment or bankruptcy of buyers. Evolution, which launched in April 2018 after spinning out from Harvard Management Company, has approximately US$2.5bn in assets under management as of December 2021 and invests ...

In recent years fraudsters have managed to swindle banks in the commodities financing sector through double financing, selling commodities of subpar quality or which simply don’t exist. In this Industry Perspective, Sean Birrell, chief technology officer of Veridapt, and David Thambiratnam, its chief executive officer, explain why technology that monitors physical commodities in real time ...