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Covid-19 containment measures in Shanghai are causing increasing disruption to supply chains, with shipping and logistics firms warning of diverted cargoes, container congestion and blank sailings.  China’s largest city has experienced by far its largest outbreak of confirmed cases since the start of the pandemic, prompting strict virus containment measures from authorities. A total lockdown ...

Toronto-based tech firm Surecomp is seeking to tackle attempts at double financing through the launch of an invoice comparison tool, which it hopes will broaden access to finance by minimising banks’ risk of exposure to fraud.  Surecomp announced this week that the solution has been introduced to more than 25 international banks since the first ...

Paperless trade solutions provider essDocs has been acquired by Intercontinental Exchange (ICE), an owner and operator of financial and commodity marketplaces and exchanges. The financial terms of the transaction were not disclosed. GTR understands that essDocs will continue as a standalone brand within ICE, with co-CEOs Alexander Goulandris and Marina Comninos remaining in their current ...

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% ...