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Leading credit rating agency Moody’s has upgraded the Insurance Financial Strength Rating (IFSR) of Coface, a prominent player in the credit insurance industry, from A2 to A1.
10/10/2023
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According to the latest report from Allianz Trade, the global economy will continue to face challenges, with lackluster growth from the cumulative impact of monetary policy tightening until the end of 2024.
10/10/2023
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New research by Praetura – the Manchester-based debt and equity capital provider to UK SMEs – has revealed that three in five (59%) SMEs and their brokers surveyed say that it is more difficult now to access the funding they need to grow than in the last five years, as a funding crunch hits Britain’s small businesses.
10/10/2023
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Scottish neobank Alba Bank has announced that it will migrate to Mambu’s cloud banking platform to manage its small and medium-sized enterprise (SME) lending services, as well as its retail and business deposits.
10/10/2023
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The European Bank for Reconstruction and Development (EBRD) is set to expand its activities in the Middle East and North Africa region (MENA). Francis Malige, Managing Director, Financial Institutions (EBRD), speaking last week at the EBRD’s Trade Finance Forum in Vienna announced that the EBRD’s board had approved its expansion to Iraq and some Sub-Sahara countries.
10/10/2023
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Investree, an Indonesian B2B marketplace lending platform for Micro, Small and Medium Enterprises (MSMEs), has raised US $231m in a Series D funding round, bringing its total funds raised to approximately US $280m .
09/10/2023
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Lloyds Bank is enabling corporate customers to request digital Guarantees or Standby Letters of Credit under a new 'Paperless Guarantee' initiative.
09/10/2023
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“Almost every Saudi bank has or is planning to have a supply chain finance solution in place”, says Betül Kurtulus, Regional Director for Central, Eastern and South-Eastern Europe and the Middle East, FCI
09/10/2023
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As part of a complex recapitalisation strategy, Toronto-based fintech startup Clearco has secured a new asset-backed financing facility of up to US100m from Pollen Street Capital and US$60m in Series D funding led by existing investors Inovia Capital and Founders Circle Capital.
06/10/2023
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Sallyport Commercial Finance has announced a US$1m accounts receivable (AR) facility for a lighting manufacturer headquartered in Tennessee. The business held a very strong sales position through the pandemic, however with subsequent supply chain challenges and inflationary pressure, sales plateaued over the last couple of years. The market is now experiencing an uptick in activity and the business will use the funds to support this growth and pay down some debt to reduce the incumbent bank’s position.
06/10/2023
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As announced back in June 2022, the current Secretary General, Mr. Peter Mulroy, will be stepping down on 29th February 2024. FCI is pleased to announce that his successor will be Mr. Neal Harm.
06/10/2023
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The Singapore economy grew by 3.6 per cent in 2022, slower than the 8.9 per cent growth in 2021, said Alan Wong, CEO, Financial Services, Hubble Pte Ltd in his article included in the most recent edition of the
06/10/2023
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Triterras, Inc. (Triterras) a leading fintech company focused on trade and trade finance, has announced the appointment of Vinay Kapoor to the role of Executive Vice President. Mr. Kapoor joins the C-suite to lead the company’s global corporate development efforts.
06/10/2023
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The Ministry of Industry and Advanced Technology (MoIAT) of UAE has announced a collaboration with Etihad Credit Insurance (ECI) to provide innovative incentives and enablers that enhance industrial sustainability, investment attractiveness, and competitiveness. The partnership is aimed at introducing green insurance and securing investments for startups as well as small and medium-sized enterprises (SMEs).
05/10/2023
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Solv Kenya, a B2B marketplace for Small and Medium Enterprises (SMEs) and a venture powered by Standard Chartered PLC, has surpassed KSh1bn ($6.7m) of invoices funded to Kenyan SMEs in its first full year of business.
05/10/2023
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