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Switzerland’s Helvetia has become the latest insurer to rule out any future involvement in the Adani Group’s controversial Carmichael coal mine project in Australia, GTR can reveal. Helvetia has previously stated it has no current involvement in the project, following pressure from Market Forces, which has led a sustained campaign to dissuade banks and insurers ...
London-based Finverity has raised US$2mn in an equity funding round to help fuel the trade finance marketplace’s growth. Finverity, which focuses on supply chain finance for mid-market companies in emerging markets, won backing from Jersey-based BY Venture Partners and existing Canadian investor Loyal VC. An emerging market family office and “a number of strategic angel ...
A Lithuanian official says a spat over alleged restrictions by China poses a challenge to the World Trade Organization’s (WTO)’s ability to protect rules-based trade. As the European Union prepares for WTO dispute settlement consultations with China over what it says are discriminatory trade practices against Lithuania, Vytautė Šmaižytė-Kuliešienė, spokesperson for the country’s ministry of ...
Australia’s public export finance institution has conditionally approved the first loans to be rolled out under a financing scheme to develop the country’s critical mineral sector. Export Finance Australia (EFA) has offered two loans worth a total of A$239mn (US$170mn) to two companies developing graphite processing projects for the supply chains of electric vehicle batteries. ...
TradeLens, a digital platform launched by IBM and AP Moller-Maersk, has completed its first end-to-end paperless trade finance transaction. The deal, which involved the shipment of agrichemicals from South Korea to Bangladesh by Syngenta, was financed with a letter of credit from HSBC. All associated documentation was shared among the parties via the TradeLens platform. ...