Trader Phoenix 'goes into liquidation due to coronavirus'; Italian companies ask for $20bn in state-guaranteed loans, says SACE; and Citi names new head of HK treasury and trade

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Phoenix Commodities Pvt, a trader of agricultural products with offices in Dubai and Singapore, is being liquidated after amassing more than $400 million in potential trading losses, according a document prepared by the liquidators

• Large Italian companies have requested €18.5 billion in state-guaranteed loans to weather the coronavirus crisis, state-backed export credit agency SACE said.

• Citi has named Vishal Kapoor as the new head of its Treasury and Trade Solutions unit in Hong Kong - its largest APAC market in the space.

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