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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 ...
India’s Axis Bank has signed an agreement with the Asian Development Bank (ADB) to enable it to provide more supply chain finance to small and medium-sized enterprises, with a focus on ESG and priority sectors. The deal, which takes the form of a partial guarantee facility agreement under the ADB’s Trade and Supply Chain Finance ...
The ESG & Trade Issue assesses efforts to advance the sustainability agenda across the world of trade and trade finance. Meanwhile, it also features the official reveal of the annual GTR Best Deal Award winners.