TXF Podcast

AIIB appoints new chief economist; Buffett takes stakes in Japanese trading firms; and Tysers Insurance boosts team

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:

• The Asian Infrastructure Investment Bank has appointed Erik Berglof as its first Chief Economist

• Berkshire Hathaway has bought a 5% stake in each of Japan’s five biggest trading houses, together worth over $6 billion, marking a departure for chairman Warren Buffett as he looks beyond the United States to diversify his conglomerate

• London-headquartered Tysers Insurance Brokers has appointed John Lentaigne as its new Global Head of Political Risk Trade

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Minas Gerais asks court to block Vale assets worth $4.7bn; Almonty close to sealing KfW IPEX financing for Sangdong project; IFC appoints Ary Naïm as Regional Manager for Central and Southeast Europe

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:

• Toronto-headquartered Almonty Industries says it has finalised the completion agreement with Germany's KfW IPEX-Bank over its $75 million project financing for its Sangdong Mine, in South Korea

• Brazil’s Minas Gerais state authorities and federal prosecutors have asked a judge to order Vale to pay for economic losses and other damages stemming from last year’s deadly Brumadinho tailings dam disaste

• The International Finance Corporation has appointed Ary Naïm as its Regional Manager for Central and Southeast Europe

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KfW: Strong recovery after April low; Trafigura, Gunvor 'take Hin Leong's storage leases at Singapore Universal Terminal’; GSCFF unveils report responding to criticism of payables finance

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:

• KfW Research says it stands by its forecast that Germany’s gross domestic product will contract by around 6% in 2020, before growing again by 5% in the coming year. 

• Oil traders Trafigura and Gunvor have taken over the fuel oil storage leases previously under Hin Leong at Singapore's Universal Terminal

• The Global Supply Chain Finance Forum (GSCFF) has released a new paper in response to growing concerns regarding the use of supply chain finance

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Korea exits overseas coal-fired plant financings; Storebrand divest oil assets; and Deutsche appoints new acting chief country office Vietnam

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:

• South Korea is set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired plant deals under way at risk of being scrapped

• Storebrand, Norway’s largest private asset manager, has divested from ExxonMobil, Chevron, Rio Tinto and BASF - citing their lobbying practices regarding climate

• Deutsche Bank has appointed Huynh Buu Quang as Acting Chief Country Officer Vietnam

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EBRD mulls loan for Hellenic Petroleum's 204MW PV portfolio; Europe considers permanent refinery closures; IFC raises $1bn through 10-yr global benchmark bond

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:

• The European Bank for Reconstruction and Development (EBRD) is considering lending up to €75 million ($88.5 million) to Hellenic Petroleum to finance 204MW of solar projects in Greece

• European refining capacity is likely to be trimmed permanently in the wake of the COVID-19 pandemic's impact on margins and inventories

• The International Islamic Trade Finance Corporation (ITFC) has signed an $8 million Murabaha-structured line of trade finance with Trustbank in Uzbekistan. 

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KDB sells A$500m of bonds in Australia; Greensill adds two senior distribution hires; ING leads $235m syndicated financing for Auramet

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:

• The Korea Development Bank has issued A$500 million of bonds in Australia as part of efforts to help coronavirus-hit South Korean firms

• Precious metals merchant Auramet has signed a $235 million syndicated loan

  Greensill has appointed Peter Charles as vice chairman of Distribution, and Dolph Habeck, as managing director, head of Distribution, Americas

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Panbil looking at Karimun LNG feasibility; Olam upsizes Samurai facility to JPY38.85bn; Access Bank secures $93m syndicated loan

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:

• Nigeria's Access Bank has announced the signing of a Subordinated Syndicated Loan Agreement totalling $93.8 million with the Dutch development bank FMO

• Olam upsizes Samurai facility to JPY38.85bn

• Panbil looking at Karimun LNG feasibility

   

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StanChart conducts first blockchain trade in Bangladesh; COFCO names ex-Cargill director as head of Asia; US Ex-Im mulls $450m deal to support exports to Iraq

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:

• Standard Chartered is believed to have successfully conducted Bangladesh’s first blockchain trade transaction

• Chinese commodities trader COFCO International has named Andrew Wong Mui Sang as managing director of the Asian-Pacific region

• US Ex-Im mulls $450m deal to support exports to Iraq

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Almaty ring road reaches FC; BHP to pay $840m for early end to thermoelectric contract in Chile; and trade finance start-up Incomlend raises $20m

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:

• Kazakhstan's 66km BAKAD ring road project has reached financial close, making it the largest public-private partnership project in the country and Central Asia

• BHP-controlled Chilean copper mines Escondida and Spence will jointly pay $840 million for an early end to a contract signed in 2008

• Singapore-based invoice marketplace Incomlend has raised $20 million in a new financing round

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Bolero International joins Marco Polo network; Afreximbank extends up to $400m to Mozambique LNG; Glencore scraps $2.6bn dividend after fall in H1 profits

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:

• Afreximbank extends up to $400m to Mozambique LNG

• Israel's Delek Drilling said on Wednesday it will pay an average interest of 6.28% in a $2.25 billion international bond offering to help it finance the development of the Leviathan natural gas project off Israel's Mediterranean coast

• Bolero International has joined the Marco Polo to bring Bolero’s e-Bill of Lading including e-documents and e-presentation solutions to the trade finance network

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.