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A rundown of the major stories from the world of trade and trade finance, brought to you by the news team at Global Trade Review (GTR).
Episodes
Wednesday Oct 14, 2020
Wednesday Oct 14, 2020
Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.
A new report from security think tank RUSI warns against a blanket approach to free trade zones, but says many risk exposing banks to trade-based money laundering, as well drugs, weapons and counterfeit goods trafficking.
Oswald Kuyler, the newly appointed managing director of the Digital Standards Initiative, spoke to GTR about efforts to scale up the digitalisation of trade in Asia.
In other news, Singapore’s financial regulator has called for a move away from paper-based trade transactions in a bid to reduce fraud, after a series of high-profile scandals in the city state’s commodities sector.
Last month, Chinese President Xi Jinping announced a goal of carbon neutrality for his country by 2060.
However, the move has been met with scepticism from experts, given that Chinese creditors have given billions of dollars to fossil fuel projects around the world through the country’s Belt and Road Initiative.
Senior reporter John Basquill also provides a closer analysis after a group of major banks launch a blockchain-based registry for trade finance transactions in Singapore.
Music credit to Kevin MacLeod for his track Loopster, taken from incompetech.com. Licensed under creative commons by attribution 3.0 license. Further music credit to Sunrise Drive by South London HiFi. Licensed under creative commons Attribution 4.0 License. Music promoted by CopyrightFree.org
Wednesday Oct 07, 2020
Wednesday Oct 07, 2020
Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.
Blockchain trade finance initiative Contour has now left beta, bringing the decentralised, digital trade finance platform into full live production.
UK businesses are largely optimistic about growth prospects over the medium term, with business confidence higher now than this time last year, according to new data from Santander.
A group of major banks are hoping that a new blockchain-based registry of trade finance transactions will put a stop to the fraudulent practices that have plagued Singapore’s commodities trading sector this year.
Reporter Maddy White also explains why hundreds of thousands of seafarers are stuck at sea, and how the situation could pose significant problems for supply chains and trade.
Music credit to Kevin MacLeod for his track Loopster, taken from incompetech.com. Licensed under creative commons by attribution 3.0 license. Further music credit to Sunrise Drive by South London HiFi. Licensed under creative commons Attribution 4.0 License. Music promoted by CopyrightFree.org
Wednesday Sep 23, 2020
Wednesday Sep 23, 2020
Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.
Payments network Swift has unveiled a dramatic overhaul of its infrastructure, which will see it expand its focus beyond financial messaging into end-to-end transaction management services.
The Bankers Association for Finance and Trade (Baft) has released a series of guiding principles to define the essential criteria for the use and structuring of payables finance.
A new report from the African Development Bank and Afreximbank finds that rejection rates for trade finance applications for SMEs in Africa are on the rise, with bank participation in activities decreasing.
The continent’s trade finance gap, estimated to be more than US$81bn, is also growing.
Felix also provides a closer analysis of the UK-Japan trade agreement signed earlier this month, the first deal of its kind since Britain left the EU.
Music credit to Kevin MacLeod for his track Loopster, taken from incompetech.com. Licensed under creative commons by attribution 3.0 license. Further music credit to Sunrise Drive by South London HiFi. Licensed under creative commons Attribution 4.0 License. Music promoted by CopyrightFree.org
Wednesday Sep 16, 2020
Wednesday Sep 16, 2020
Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.
According to new data, French financial institutions have the most robust policies in place when it comes to eliminating support for coal projects.
A wide range of topics were discussed at the annual GTR Asia event, which was held virtually last week, as the trade finance sector reflected on the impact of Covid-19 on the region, and a string of fraud scandals in the Singaporean commodity sector.
Elsewhere at the event, Michael Froman, vice-chairman of strategic growth at Mastercard, gave his take on just how global we can expect the future of trade to be.
We have more on the UK striking a free trade agreement with Japan, the first deal of its kind since it exited the EU.
Reporter Maddy White also gives a closer analysis, after a new Verisk Maplecroft report showed an increase in modern slavery risks across key manufacturing markets in Asia.
Music credit to Kevin MacLeod for his track Loopster, taken from incompetech.com. Licensed under creative commons by attribution 3.0 license. Further music credit to Sunrise Drive by South London HiFi. Licensed under creative commons Attribution 4.0 License. Music promoted by CopyrightFree.org
Wednesday Sep 09, 2020
Wednesday Sep 09, 2020
Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.
HSBC says trade transaction volumes in Asia have reverted to 2019 levels over the past couple of months, leading to optimism for the prospects of a V-shaped post-pandemic recovery in the region.
A new trade finance fund has been rolled out to help the Lebanese manufacturing sector as the country’s economy falters.
According to a new report from global risk analytics and advisory firm, Verisk Maplecroft, Covid-19 has increased modern slavery risks across key manufacturing markets in Asia.
Senior reporter John Basquill also provides a closer analysis on the latest allegations of fraud in the Singapore commodity sector.
Wednesday Aug 19, 2020
Wednesday Aug 19, 2020
Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.
GTR has seen a review of disgraced oil trader Hin Leong’s activities and finances, carried out by interim judicial managers PwC.
Submitted to Singapore courts in June, it paints a damning picture of a company that had become reliant on fraudulent transactions and forging documents “on a massive scale”.
US authorities have seized Iranian oil from four tankers that were en route to Venezuela, in what is the latest escalation of American-led sanctions pressure on maritime trade.
According to a new report from Western Union and Oxford Economics, the post-pandemic recovery and growth of cross-border trade in services is expected to rely on digitalisation and the adoption of new technology.
Senior reporter John Basquill also provides a closer analysis on ABN Amro’s decision to cease all trade and commodity finance activities, following heavy losses due to Covid-19, low oil prices and the Hin Leong fraud scandal in Singapore.
Music credit to Kevin MacLeod for his track Loopster, taken from incompetech.com. Licensed under creative commons by attribution 3.0 license. Further music credit to Sunrise Drive by South London HiFi. Licensed under creative commons Attribution 4.0 License. Music promoted by CopyrightFree.org
Wednesday Aug 12, 2020
Wednesday Aug 12, 2020
Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.
Damage to Beirut Port following last week’s explosion is disrupting vital food supply lines, while questions emerge over how a 2013 shipment of ammonium nitrate ended up in storage there.
Elsewhere, Afreximbank's customer due diligence platform has onboarded nearly 200 African entities, but barely a handful of international financial institutions have signed up.
Reporter Maddy White also gives a closer analysis on the European Council's decision to impose cyber sanctions for the first time ever.
Music credit to Kevin MacLeod for his track Loopster, taken from incompetech.com. Licensed under creative commons by attribution 3.0 license. Further music credit to Sunrise Drive by South London HiFi. Licensed under creative commons Attribution 4.0 License. Music promoted by CopyrightFree.org
Wednesday Aug 05, 2020
Wednesday Aug 05, 2020
Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.
Natixis has accused oil trader Sugih Energy of conspiring with scandal-hit trading house Hontop over fraudulent crude oil transactions in Singapore.
A British government committee has launched a fresh inquiry into the activities of UK Export Finance.
Elsewhere, the European Council has imposed sanctions against entities and individuals in China, Russia and North Korea in response to high-profile cyberattacks.
Senior reporter John Basquill also provides a closer analysis after the UK’s top sanctions regulator issued landmark guidance for all companies involved in maritime trade.
Music credit to Kevin MacLeod for his track Loopster, taken from incompetech.com. Licensed under creative commons by attribution 3.0 license. Further music credit to Sunrise Drive by South London HiFi. Licensed under creative commons Attribution 4.0 License. Music promoted by CopyrightFree.org
Wednesday Jul 29, 2020
Wednesday Jul 29, 2020
Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.
The UK’s top sanctions regulator has issued landmark guidance for all companies involved in maritime trade, instructing them to pay closer attention to vessel behaviour, company structures and potentially forged documents.
According to a new report from Coface, the credit insurance provider, Central and Eastern Europe could benefit from a post-pandemic relocation of industrial supply chains.
In other news, British MPs have expressed relief that the government’s mysterious “Project Defend” will not involve localising supply chains.
Senior reporter John Basquill also provides an update from the Singapore commodity sector, after Hontop Energy became the latest oil trader to be embroiled in a fraud scandal.
Music credit to Kevin MacLeod for his track Loopster, taken from incompetech.com. Licensed under creative commons by attribution 3.0 license. Further music credit to Sunrise Drive by South London HiFi. Licensed under creative commons Attribution 4.0 License. Music promoted by CopyrightFree.org
Wednesday Jul 22, 2020
Wednesday Jul 22, 2020
Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.
Scandal-hit Agritrade is urging banks to accept a new offer from a London-based investment manager, rather than push ahead with a winding up order.
In another major story in the Singapore commodities sector, Hontop Energy has become the latest oil trader to be embroiled in a fraud scandal.
In other news, according to a report released by the International Chamber of Commerce this week, banks are upbeat about the trade finance market in spite of Covid-19-related challenges.
Reporter Maddy White also provides a closer analysis of a major story from last week. While the Japanese government tightened its lending criteria for overseas coal-fired power plants, NGOs say there are major “loopholes” in the plans.
Music credit to Kevin MacLeod for his track Loopster, taken from incompetech.com. Licensed under creative commons by attribution 3.0 license. Further music credit to Sunrise Drive by South London HiFi. Licensed under creative commons Attribution 4.0 License. Music promoted by CopyrightFree.org