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Allianz Trade expects a global GDP growth of +1.4 per cent in 2023, albeit with significant differences between countries and a slight recession expected in advanced economies. Despite easing supply-side constraints, global trade will slow with slight growth. Robert Meters, TRF News Editorial Member and Director SCHUMANN International, sees a slight recovery of global trade in 2023 and tell us why.
23/02/2023
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The High Court of Ireland appointed yesterday insolvency practitioners Ken Fennell and Andrew O'Leary of Interpath Advisory Services as provisional liquidators to Marco Polo Network Operations Limited (Marco Polo) which was declared insolvent and unable to pay its debts of over €5.2m.
23/02/2023
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Rosenthal & Rosenthal, a factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, completed two transactions, including a US$35m acquisition deal for a large consumer products importer and a combined US$3m purchase order financing and factoring deal to support an established footwear company.
22/02/2023
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The European Bank for Reconstruction and Development (EBRD) and the Multilateral Investment Guarantee Agency (MIGA) have signed a landmark first co-financing agreement, under which MIGA will issue up to US$200m in trade finance guarantees to the EBRD to take part of the EBRD’s risk under its Trade Facilitation Programme (TFP). The first country to benefit from this agreement will be Ukraine.
22/02/2023
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Jacob Raphael (pictured) has been appointed by Mynd Group as a Chief Executive Officer (CEO) for M1 NXT, a new ITFS platform (International Trade Finance System), a digital marketplace for international factoring products from M1xchange. The appointment, with an immediate effect, comes to facilitate trade receivable services to Indian exporters.
22/02/2023
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Bibby Financial Services, a leading provider of financial support and funding solutions to Irish SMEs, and Coface, a global leader in trade credit insurance, have joined forces in a new collaboration to help SME’s access securely structured funding solutions while also ensuring they are protected against potential lost revenue.
22/02/2023
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Allianz Trade, the world leader in trade credit insurance and Fintecture, a fast-growing fintech specialised in B2B payment solutions, partnered to develop a new B2B Buy Now Pay Later (BNPL) solution dedicated to the French market.
22/02/2023
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“By keeping trade finance assets simple we can hugely expand and make it very attractive for non-bank investors,” Geoffrey Wynne, Partner, Sullivan & Worcester.
21/02/2023
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Demand for finance from the UK’s 5.5m small and medium-sized businesses is on the rise at the same time as banks are “reducing their lending appetite,” according to iwoca’s latest SME Expert Index.
21/02/2023
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At the end of December last year, the alternative lender Just Cashflow was placed into administration, amid the company experiencing financial difficulties following the collapse of its parent company JLG Group in September of the same year.
21/02/2023
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Slovenia’s CargoX, a provider of an electronic trade document platform and CEBS Worldwide, Texas headquartered global integrator of business solutions and a former TradeLens integrator, launched a partnership to help corporations continue the digitalisation of their bills of lading and trade document workflows.
21/02/2023
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Finastra, a global provider of financial services software applications and marketplaces, today announced a partnership with Integro Technologies a subsidiary of Aurionpro, the pioneer provider of high-end lending platforms, to offer Integro’s SmartLender Trade Limits solution alongside its own Trade Innovation solution.
21/02/2023
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The bank-dominated factoring industry in Croatia has welcomed the Czech fintech Roger, which anticipates development in the sector owing to inflation.
20/02/2023
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In 2022, the group posted a turnover of €1.8bn, up 13.4 per cent at constant exchange rates and scope. The insurance business (including surety and Single Risk) grew by 14.4 per cent, while revenues from the other divisions increased by 8.3 per cent compared to 2021. Those from factoring increased by 10 per cent and from information services by 11.6 percent.
20/02/2023
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Mercore, the global trade focused fintech group, today announced that it has executed a trade finance transaction utilising an electronic payment undertaking (ePU) structure (in digital bill of exchange format) working with one of its SME clients, Abercore, a UK based sugar trader and advisory firm.
20/02/2023
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