Page 8 - Personal Data Held News Today

JP Morgan has hired Rodrigo Boulos to lead its US west coast trade and working capital team. Based in San Francisco, Boulos starts with immediate effect and reports to the bank’s global head of trade for commercial banking, Anubhav Shrivastava. The move supports JP Morgan’s wider efforts to enhance its client focus in the region, ...

Blockchain-based invoice financing provider VoloFin has partnered with Highmore, a US-based alternative asset management group, as the Singapore fintech looks to deepen its working capital support for SMEs.  VoloFin, which has offices in the US and India as well as its Singapore headquarters, helps SMEs unlock liquidity in unpaid invoices via its financing platform.  Highmore, ...

UK Export Finance (UKEF) has agreed to guarantee a €2.4bn loan from a group of commercial banks for a high speed electric railway project in Turkey. The deal, signed in December, will see the UK’s official export credit agency (ECA) cover 85% of the total financing through its buyer credit scheme, which backs exports by ...

Adoption of the legal entity identifier (LEI) in trade is gathering pace, with Toronto-headquartered tech firm Surecomp becoming the latest company to integrate it into its systems. In a new partnership with the Global Legal Entity Identifier Foundation (GLEIF), the trade finance software and solutions provider will embed the global LEI index into all of ...

Belgium’s export credit agency (ECA) Credendo is weighing up the future of its joint venture with a commercial Russian insurer amid Russia’s invasion of Ukraine, as it nurses an exposure to the country of around €4bn. Credendo, which also offers private trade credit insurance, owns 67% of a joint venture, Credendo-Ingosstrakh Credit Insurance, with Ingosstrakh, ...

Export credit agencies (ECAs) in the EU have been given until the end of next year to set deadlines for ending support for the fossil fuel sector, as the bloc calls for a ban on export credit support for fossil fuels at the OECD. In a statement released following a meeting of EU finance ministers ...

The European Bank for Reconstruction and Development (EBRD) has unveiled fresh trade finance support for businesses affected by Russia’s invasion of Ukraine, both in the war-ravaged country and neighbouring nations. As the conflict approaches its fourth week, the EBRD has announced a €2bn resilience package and says various forms of financial aid will be made ...

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 ...