Page 10 - Personal Data Held News Today

Trafigura has refinanced its European multi-currency syndicated revolving credit facilities (RCFs) worth US$5.3bn, in a pair of deals that the commodity trading giant says are once again structured as sustainability-linked loans. The loan structure comprises two separate RCFs, a 365-day agreement worth US$2bn and a three-year facility valued at US$3.3bn, both of which come with ...

TradeSun has struck a partnership with information and analytics provider IHS Markit, as the trade finance technology firm works to strengthen its artificial intelligence (AI)-powered compliance checking solution. The agreement allows users of TradeSun’s platform to tap into IHS Markit’s financial crime datasets when conducting compliance checks, including vessel tracking for sanctions breaches, container compliance ...

The Multilateral Investment Guarantee Agency (Miga) has issued a guarantee to JP Morgan for a loan that it is providing to a Colombian state-owned enterprise for a new port in Antioquia. The Miga guarantee covers a US$103.7mn facility being provided by JP Morgan to Financiera de Desarrollo Nacional (FDN), a government-backed infrastructure development bank, which ...

Proposed changes to the treatment of trade finance in the EU’s capital requirements regulations could push up financing costs for businesses and allow insurers a bigger slice of the guarantees market, banks and borrowers claim. The European Commission published the final text of its proposed changes to the Capital Requirements Regulation (CRR) in October last ...

The International Civil Aviation Organization (ICAO) and the United Nations Economic Commission for Europe (UNECE) have released new digital air cargo technical specifications guidance that they say will help to accelerate the transition away from long-standing paper-based documents. The specifications, which cover three main documents – the air waybill (AWB), dangerous goods declaration (DGD), and ...

Global trade credit insurer Euler Hermes has made two senior appointments, naming Jennifer Baert as the group’s general counsel and Riccardo Rosa CEO of its World Agency division. As part of a change in the Euler Hermes group’s leadership team, Baert will start in the newly-created role this month and takes charge of the credit ...

Banks caught up in money laundering scandals suffer an average 21% slump in their share price, researchers say, as warnings grow over regulatory scrutiny of the trade finance sector.  Penalties for anti-money laundering (AML) failings worldwide totalled around US$2.2bn in 2020, and another US$1bn in the first half of last year, according to a paper ...

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 ...