Page 4 - Personal Data Held News Today

The World Trade Organization (WTO) has cut its 2022 trade growth outlook, saying prospects for the global economy have “darkened” amid the Russian invasion of Ukraine. The international body says it now expects merchandise trade volume growth of 3.0% in 2022 – down from its previous forecast of 4.7% and well below the increase of ...

Efforts to recover lost funds following Greensill’s insolvency are being held up by a dispute over insurance cover, following accusations of fraudulent conduct and warnings that litigation could last years.  Insurance giant Tokio Marine reiterated accusations of fraud against Greensill this week, issuing a statement saying the collapsed finance company made “material misrepresentations and non-disclosures” ...

Blockchain platforms MineHub and TradeWaltz have connected their respective networks following a proof-of-concept transaction with trading company Sumitomo Corporation. Incorporated in 2020 by a consortium of Japanese corporations and supported by the Japanese government, TradeWaltz is an NTT Data-led cross-industry trade collaboration platform that digitises trade processes in the Asian country. On the platform, electronic ...

India’s Axis Bank has signed an agreement with the Asian Development Bank (ADB) to enable it to provide more supply chain finance to small and medium-sized enterprises, with a focus on ESG and priority sectors. The deal, which takes the form of a partial guarantee facility agreement under the ADB’s Trade and Supply Chain Finance ...

The ESG & Trade Issue assesses efforts to advance the sustainability agenda across the world of trade and trade finance. Meanwhile, it also features the official reveal of the annual GTR Best Deal Award winners.

Momentum continues to build around environmental, social and governance (ESG) efforts in trade and trade finance. Every week, the GTR editorial team reports on encouraging new developments in this space. Recently, this has included a decision by the European Council that gives export credit agencies (ECAs) in the EU until the end of 2023 to ...

The UK now has what is being tipped the “world’s first” hub dedicated to accelerating the digitalisation of trade, with the launch today of the Centre for Digital Trade and Innovation (C4DTI). The centre will be based in the UK’s Teesside region. Co-ordinated by the International Chamber of Commerce (ICC) UK as an impartial convener, ...

The African Export-Import Bank (Afreximbank) has announced a new multi-billion-dollar initiative to help member countries battle soaring import costs and foreign currency challenges stemming from the Ukraine conflict. Afreximbank’s board has approved additional financing of US$4bn for the Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA), a package comprised of several types of credit ...

Estonian supply chain finance platform SupplierPlus has hired sustainable trade finance specialist Maria Mogilnaya to lead its expansion efforts. Until recently Mogilnaya was a principal banker in the European Bank for Reconstruction and Development’s trade facilitation programme, leading the multilateral lender’s green trade finance and digitalisation efforts. Mogilnaya will split her time between London and ...

Financial technology solutions provider MonetaGo has appointed Jairo Romo Marugan to lead its newly launched Spanish business. Romo, who started in his role on March 1, joins MonetaGo from Wipro, where he developed cross-industry fintech solutions. Prior to this, he headed up the strategic expansion of California-headquartered UST into Spain, Mexico, Peru and Colombia. His ...