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December
Representatives of Bank of New York Mellon, Falcon Trade Corporation, Deutsche Bank and Abbey provided Trade Finance with a brief snapshot of regional activity at the close of 2008.
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The global financial crisis, sparked by sub-prime lending and the use of high-risk, poorly understood financial instruments, has set off a worldwide downturn unlike any seen in a generation. Falling commodity prices, and the spread of recession, hundreds of billions in government bailouts – and with all this, dare we contemplate the idea of trade – and trade finance – coming out of the tunnel? The realities are harsh, and their full implications are not yet known; is there room for tactful, cautious optimism? Alexander R. Malaket takes a forward-looking view on some aspects of the questions that are on the minds of leading trade finance specialists across the globe.
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Trade Finance (TF) talks with Lars Millberg (LM), head of trade finance at SEB in Stockholm about the merging of cash and trade, dealing with trade provision through the liquidity crisis, and the changing face of trade.
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Trade Finance (TF) talks with Eija Talvenheimo, the recently appointed global head of trade finance at Nordea Bank, based in Helsinki.
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While supply chain finance works extremely well in a booming economy, the real test comes during an economic downturn. In the Indian sub-continent, banks are becoming far more structured and focused in their approach to lending, writes Michele Martensen.
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Some believe the recent terrorist attacks that struck Mumbai – the commercial heart of India – were perpetrated to undermine the country's democracy and capitalist economy. But how are South Asia trade flows faring in the midst of the global economic storm? Michele Martensen reports.
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The implementation of Misys' Islamic retail solution will complement the existing trade finance platform to expand the bank's scope.
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Partnership with Serisys sees Surecomp's treasury matching solution rolled out across Asia.
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UniCredit introduces Trade Purchase – an internet form of cross-border supply chain financing.
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Olivier Berthier, solutions director for transactional banking at Misys, comments on the impact of the credit crunch and subsequent crisis on trade finance and where it may lead the industry.
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Asian exporters have found access to letters of credit considerably harder of late. Trade Finance asks a panel of financiers in the region to assess how severe this problem really is.
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The supply chain collaboration platform TradeCard, has added more than 900 supplier members to its network this year and seen trade finance volumes on the platform triple since 2007.
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Bank aims to gain a competitive edge through re-engineering internal processes and improving overall risk management.
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The Finnish-headquartered bank Nordea has streamlined its trade division with three new global trade head appointments.
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TradeCard platform provides importers access to key data required to meet anticipated trade regulation.
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Banco Canarias Venezuela selects Surecomp's Java end-to-end trade finance solution.
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November
ECGD comes "through with the goods" as the government promises to act as trade credit guarantor to ease supply chain woes for the UK's smaller exporters.
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The ICC and World Customs Organisation have accepted Montenegro membership for the ATA carnet system.
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Tech vendor looks to take advantage of lucrative opportunities in Middle East market through DIFC office.
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The Bank of New York Mellon has released its latest supply chain offering.
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With the financial crisis reaching what many consider to be a peak, international trade finance provision has slowed to a trickle as many banks claim their hands and balance sheets are tied. Jonathan Bell examines what initiatives have already come or may come from agencies, central banks and governments to provide the much needed help
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Speaking to Trade Finance, Andrew Long, group general manager and head of global transaction banking at HSBC, provides an insight into the discussions held at the WTO in Geneva on 12 November.
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Following the meeting of the G20 in Washington DC the leaders of both the International Chamber of Commerce and World Bank have issued statements reflecting on the discussions.
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Enhanced collaborative inventory management solution provides insight into supply chains and optimises working capital.
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The ICC Commission on Banking will continue exploring the impacts of the current situation following participation in the WTO meeting in Geneva on 12 November.
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DC Master includes online instruction and training in documentary credit practice.
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North Asian and South Asian regional heads, global head of client access and global product head for securities services appointed.
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Collaboration, transparency and relationships will be the core ingredients needed to rebuild trust in trade say bankers, as trade works through the global liquidity squeeze.
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Back office solutions provider appoints new services director for Europe.
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Banco Exterior adopts Surecomp's Java-based internet trade finance option.
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Misys Equation and Trade Innovation selected for implementation across 20 branches building on long term partnership between AlBaraka and Misys.
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October
The Bank of New York Mellon has appointed Richard Brown as head of international payment and trade services for Asia continuing the bank's growth plans in the region.
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Adoption of trade finance e-business system gives Bank of the West optimal front-end support.
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Richard Bird, head of correspondent banking at Unibanco in Sao Paulo, and coordinator of the International Affairs sub-committee of the Brazilian Federation of Banks (Febraban), comments on the effects of the liquidity crisis on trade finance in Brazil.
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India's HDFC Bank has opened its first fully-fledged overseas commercial branch at Bahrain Financial Harbour.
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Real-time information on NAFTA region accounts links to existing foreign exchange and trade finance services.
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Bank chooses end-to-end transaction banking ASP platform to add seamless services and reduce operational expense.
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Logica appoints financial supply chain specialist with previous experience at Swift, Bolero and Twist.
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Proview International has secured an unsecured trade payable facility for its manufacturing operations in China and Malaysia from working capital solutions provider First Capital.
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ANZ looks to grow corporate, retail, agribusiness and trade finance offering in Vietnam with local incorporation.
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PKO looks to establish itself as the premier trade finance bank in Poland.
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Principia Partners will monitor both risk exposure and cash flows for GE Capital Corporation's structured trade business.
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Flexibility of Citi GTS solution allows Abu Dhabi National Energy Group to continue its global expansion.
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Global trade finance (including aircraft and shipping) down 3% to $144.2 billion
BBVA topped global arranger and MLA rankings
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WTO director general Pascal Lamy told an informal meeting of the Trade Negotiations Committee on 10 October 2008 that he has convened major providers of trade finance to a meeting on 12 November 2008 to ensure developing-country access to financing of imports and exports.
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Kamback takes the top spot as the new CEO of treasury services for Bank of New York Mellon.
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Fundtech has acquired Synergy Financial making it the world's largest Swift service bureau provider.
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CMB New York selects Temenos solution to facilitate trade finance and services between the US and China.
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Agreement enables Misys customers to modernise their payments infrastructure.
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RBS launches MaxTrad Express offering in UAE and Romania and expands availability of MaxTrad.
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While globalization may add volatility to your supply chain, the evolution of Supply Chain Financing means better choice and control for importers/ exporters. Scotiabank's Alberta Cefis outlines and explains some of the new options now open to corporates.
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At Sibos 2008 in Vienna, JPMorgan's Treasury Services business unveiled plans to expand and enhance its global capabilities including trade finance, cash management and treasury solutions.
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Deutsche recruits Standard Chartered banker to head North America sales of trade finance and cash management.
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Anglo-Eastern has been chosen to pilot Deutsche's cross-currency payment solution.
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September
STP solution will benefit the bank's trade finance operations, symbolising its repositioning and strategic transformation.
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Mizuho has selected Misys solutions to support its ambitious plans for international growth.
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Industrial and Commercial Bank of China (ICBC) targets Australian trade finance with new branch.
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Dickon Harris reports from Johannesburg on Trade Finance and Euromoney Seminars' inaugural Structured Trade & Export Finance Africa Conference.
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Insurers, brokers and reinsurers to partner with Swift on central electronic transmission platform.
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Centres in Bahrain, Jakarta and Pakistan strengthen bank's imaging capabilities in Asia.
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HypoVereinsbank will provide Bolero multi-bank support to clients either for LCs, guarantees or both.
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Bolero multi-bank solution will be rolled out in stages through ECT Commodities branches to enhance their trade finance offering
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Gresham Partners pilots Alliance Lite, the light-weight low cost access to Swift for small corporates and financial institutions.
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Increased flexibility and scalability for trade finance solution launched with new ebanking cash platform.
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Advisory panel to act as sounding board for new concepts in the trade and supply chain sphere.
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Financial supply chain investment comes as bank invests heavily in Treasury Services business division.
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Misys launches Global Cash Pooling solution so banks can offer advanced cross-border cash management services at a low cost
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Supply chain finance solution will be offered as part of Gresham's Clareti suite through Quadrem International Limited.
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Alliance Lite enables new low-volume customers to get up and running on SWIFT in days
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Agreement allows Westpac the ability to expand its supplier finance offering while increasing Citi's footprint through the Westpac network.
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Bank will continue to focus on developing and expanding the reach of its transaction banking services.
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Turkey's largest bank looks to China Systems to further develop its trade finance, open account and payments operations.
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VTB sets sights on becoming a major player in the Kazakhstan market.
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New version includes enhancements in the areas of trade finance, Islamic banking and treasury.
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A busy August for China Systems as it signs up two more banks to its list of trade services solutions clients.
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State bank approves HSBC and Standard Chartered to be the first foreign banks to open wholly-owned entities in Vietnam.
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RBS Swift Service Bureau will aid corporates looking to connect to Swift network.
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UPS Capital has launched a targeted supply chain product for small American importers to allow them raise financing in advance based on their international in-transit inventory.
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QNB upgrades its representative office in Singapore to a full-fledged branch.
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AIG releases insurance coverage to protect companies against supply chain disruptions.
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Wholesale banking solution provider launches Java J2EE designed and driven confirmation matching solution.
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Nigerian bank to open its first European office in London. New branch to be led by former Moscow Narodny banker.
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Rapid growth of vendor network provides clients with greater efficiency in transaction processing.
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With many traditional sources of capital closed to borrowers it is up to trade and supply chain finance practitioners to step up and help corporate clients realise the efficiencies to be made through managing their trade flows. Oliver O'Connell looks at how trade banks in the US are rising to the occasion.
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Demand for both trade and supply chain solutions is at a record high. Driven by a combination of high commodity prices, higher credit demands and a market which is increasingly credit constrained, trade
and supply chain financiers have never been busier. Dickon Harris talks to several big players active in the region to get their views on the market's development.
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Through close, enduring partnerships, RBS Global Transaction Services helps its Financial Institution clients rise to the challenge of a fast-moving market environment.
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Alexander R. Malaket explores some of the preliminary developments in the state of trade and supply chain finance in the Asia-Pacific region.
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Oliver O'Connell looks at two institutions that focus on developing the physical side of the supply chain to the benefit of the SME and middle market.
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Michele Martensen assesses how the trade finance banking sector is facing up to the realities of the market when it comes to the convergence of cash and trade-related payments.
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With Sibos approaching – and with SWIFTNet's Trade Services Utility (TSU) still among the hot topics in the trade finance sector, Trade Finance put some FAQs to Dominic Broom, head of global trade services, EMEA, at The Bank of New York Mellon.
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When Simon Tyler arrived at Landbanki's Aldgate office last September he was given the keys and instructions to start a London-based trade finance division for Iceland's largest bank. Dickon Harris talks to the man who created a new banking division three weeks into the start of the credit crunch.
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Swiss Commercial Capital becomes the fourth European financial institution to license allFAC this year.
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August
Fifth Third Bank veteran elevated to board of directors of trade finance association.
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Lo takes over as regional head client delivery as Carole Berndt is promoted to global head of client delivery for Treasury & Trade Solutions.
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Corporate clients in the Americas are leveraging open account settlement and pre- and post-export financing services to improve margins and cash flow.
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Raza to drive regional business, lead sales and product initiatives. JPMorgan is latest bank to up its trade business in Dubai.
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Misys BankFusion Universal Banking and trade products at the heart of Tanzanian bank's expansion plans
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Four geographic clusters supported by seven product groups. Nappi to continue as regional head of global transaction services.
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Metavante and Temenos establish joint marketing strategy to jointly sell T24 trade finance solution in the US.
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DBS India CEO recalled to Singapore to head up transaction services.
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Arab Bank uses Misys to expand its Shari'a compliant commercial retail operations.
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Canara Bank is the latest Indian bank to open a branch in China. It aims to take advantage of the huge growth in trade between the two nations.
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Atradius become the first global collections firm to sign an agreement with a Chinese partner.
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New agreement extends existing contract. Multi-bank tool is proven across various commodities sectors making it a good fit for Fortis' business.
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Opening confirms strategic interest in the region and plan to be privileged reference point for Italian companies' investments and international trade.
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Alliance with IT arm of the Ministry of Commerce sees demand for trade platform spike significantly.
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DLA Piper has appointed a new partner in its finance and projects group to lead the banking practice in Russia.
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One of Morocco's largest banks has boosted its foreign trade finance offering through the Misys suite of products.
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State bank expands its global presence to take advantage of growing India-China trade flows.
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Bahraini bank elevates trade banker to senior role.
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July
Gil Gadot, Fundtech co-founder, to lead expansion strategy in Asia-Pacific
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Programme will support small and medium enterprises in Bahrain to expand through greater access to finance.
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Experienced banker chosen as senior country officer for Brazil by French trade bank.
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New centres extend bank's trade and treasury operations in Asia and add to existing international network.
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Syndication will close shortly on the Indian bank's latest loan.
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Institutions looking to expand collaboration in a number of areas including treasury and project finance.
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Hong Kong-based trade finance boutique structures solution for Chinese manufacturer.
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Nigerian bank looks to exploit francophone trade opportunities.
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Aims to deliver high-assurance, greater visibility and control over transactions.
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Bank set to increase its foothold in the CIS and capture major trade flows.
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Name change to reflect core supply chain business.
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New role to build Citi's trade and treasury business out of Singapore.
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China Merchants' to offer trade finance and trade services in NY branch.
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Mizuho to ramp up project, shipping and trade finance in Singapore.
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New appointments will develop trade offering in Greater China.
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The economic revival of sub-Saharan Africa flies in the face of the financial turmoil gripping Western markets. Increasing levels of South-South trade and booming commodity prices are drawing yet more interest in the continent. Oliver O'Connell assesses how the market is developing.
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Oliver O'Connell talks to Wang Guosheng, general manager, global trade services department at Bank of China's head office, about China's changing trade flows.
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Over the past few years, managing an effective supply chain has become part-and-parcel with a successful treasury and trade operation. In June 2008, Citi's Global Transaction Services in Asia hosted a panel discussion with key clients to discuss global industry trends, and how new supply chain techniques in Asia are impacting their business and driving their business going forward.
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Photos and highlights of the 3rd Annual Hong Kong Awards Dinner.
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Jonathan Bell sits down to talk with SMBC global head of trade, Toshihide Orita, about the bank's expansion in the sector and expectations going forward.
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Moving from strength to strength
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Key trade player takes first place
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Consolidating core areas
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Hot competition in vibrant market
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Longest presence wins through
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Global and local advantage adds up
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Korea's best keeps finger on trade
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Working at the hub
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HSBC snaps up the trade dragon
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Tight race for Vietamenese trade
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Rising force in Malaysia
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Out of the acorn – the oak
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Steady climber clinches it
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Pole position in a changing climate
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Innovator beats competition
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Tough competition at the top
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Best Local trade Bank in Vietnam
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Local presence pays dividends
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Keeping trade flows moving
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Oldest bank secures top spot
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Heavyweight lender in control
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Danamon strengthens its hold
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Effective network brings results
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Short cut to success
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Keeping a hold on the region
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June
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In what has been a record year for many institutions in the trade finance sector, the results of the Trade Finance magazine Awards for Excellence annual poll demonstrate indicators of the regular changes in the sector hierarchy
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Alexander R. Malaket explores some of the preliminary developments in the supply chain finance area in the North American context.
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May
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Priding itself on its level of service SEB has stood out in the competitive and limited Nordic market becoming the best service provider for their clients in the region. The bank has responded to its customer demands with the creation of a joint cash and trade department but has ambitions to do more. Dickon Harris talks to Lars Millberg head of trade finance at SEB as he reveals the bank's impressive expansion plans.
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The Nordic export credit agencies are widely perceived as among the most flexible, proactive and solution-oriented of the agencies. Despite their relatively small size, each excels in its respective sectors. Michele Martensen reports.
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Conference report – Asia Trade & Supply Chain, Hong Kong
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April
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Much heralded promises of cost-savings and efficiencies have accelerated the development of financial supply chain management. Yet banks and their corporate clients still face significant challenges in structuring these solutions says Axel-Peter Ohse from Deutsche Bank's Global Transaction Banking division.
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In these uncertain economic times a bank liquidity squeeze is bad news for companies that trade internationally. Corporates need to look at ways of maximising their working capital in the face of a dearth of financing options. The efficiencies offered by supply chain finance techniques may be the answer they are looking for. Oliver O'Connell investigates.
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By Elizabeth Galletly, Director, Transaction Banking, Wholesale Banking, Standard Chartered Bank
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While the speed and scale of automation for trade services has picked up significantly in recent years, it has left in its wake a series of questions. Ben Collins looks for some answers.
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Dickon Harris assesses how banks have faired in the merging of cash and trade.
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Trade finance is, most would agree, a mature business with a well-established, admirably global value proposition, but one which has historically lacked a creative energy. Is this mature banking service heading into a twilight period, or are recent developments akin to a watershed event in the life of trade finance? Alexander R. Malaket illuminates some of the challenges and opportunities that preoccupy senior specialists across the globe.
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By Viktoriya Sadlovska, research analyst, global trade management/supply chain finance, Aberdeen Group
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March
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A 100-strong gathering of structured trade financiers, corporates, traders, lawyers and government representatives have gathered at the Hilton Towers, Nariman Point, Mumbai for the 2nd Annual Structured Trade & Export Finance India Conference organized by Trade Finance and Euromoney Seminars.
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Belarus is a country rarely visited by much of the international trade finance community. However, with parts of the local economy and the banking sector gaining strength it can be expected to be a more familiar destination for emerging market activity through this year. Simon Pirani provides an insight to the market and also assesses the impact of rising energy prices which Belarus is having to cope with.
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Innovation in UAE warehouse receipts
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JPMorgan creates a new paradigm
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February
Standard Chartered welcomes American Express Bank employees
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Group of eight Crédit Agricole regional banks chooses trade services solution from Misys that is fast becoming a standard across the industry.
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Dmitri Lebedev, head of trade finance at Uralsib in Moscow speaks to Trade Finance.
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January
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Enhancement to JPMorgan's Receivables Edge solution suite allows exceptions to be repaired same day.
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