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MUFG has promoted Belinda Han to the newly created role of head of transaction banking for Asia Pacific, exactly two years after she was hired from Standard Chartered. Han’s role became effective on April 12 and she reports to the Japanese lender’s global transaction banking chief, Rajana Clark. She will be responsible for strategy, sales, ...
As the US deliberates over the scope of new legislation cracking down on imports from Xinjiang, fresh research warns global aluminium supply chains could be exposed to the Chinese region. US-based consultancy Horizon Advisory’s analysis of open account data including government and corporate documents finds eight major Xinjiang-based aluminium producers – accounting for roughly 17% ...
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 ...