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A UK Court has rejected an attempt by Gazprombank’s Luxembourg subsidiary to force a Swiss-headquartered commodities trader to repay millions of dollars in alleged missed payments, setting the stage for future court action. The UK High Court of Justice has dismissed Bank GPB International’s summary judgement application to secure an immediate payment on dozens of ...
Saudi British Bank (SABB) has completed its first sharia-compliant inventory finance transaction, as it works to further develop its offering for importers and re-exporters in the Kingdom of Saudi Arabia (KSA). As part of a deal signed in March, SABB is providing finance to Saudi Arabian dairy company, Al Safi Dairy, with funding supporting the ...
Russia’s invasion of Ukraine is expected to contribute to a slowdown in global economic growth, push up the cost of trade and exacerbate liquidity shortages in the commodities markets, researchers warn. Sanctions imposed on Russia by governments in the EU, UK and US are expected to decelerate economic growth, particularly in Europe, according to research ...
Electronic bill of lading (eBL) providers Bolero and TradeLens have entered into a collaboration to connect their respective networks of banks, corporates and supply chain participants. Under the new partnership, the TradeLens eBL– which has thus far largely been targeted towards the shipping industry – will be integrated into Bolero’s Galileo platform, which uses APIs ...
Finastra has appointed Jenny Alexandrou to the newly created role of lead product manager for trade and supply chain finance. Based in London, Alexandrou reports to Anastasia McAlpine, Finastra’s head of product for trade and supply chain finance. Alexandrou joins Finastra after 20 years at software company Temenos. In the new role, Alexandrou says she ...