HSBC, Barclays and Standard Chartered to expand their fossil fuel business despite all scientific warnings Climate activist group Market Forces has accused HSBC, Barclays and Standard Chartered of continuing to provide billions of dollars in fresh funding to fossil fuel projects, despite increasingly urgent calls for drastic action on carbon emissions. The organisation, which typically […]
“Fight to quality” across the banking sector The commodity finance market is divided. Nervous after a string of fraud scandals and losses during 2020, banks have increasingly restricted financing to smaller trading houses – yet at the larger end of the market, business is booming. In May, agri trading giant Cargill disclosed record earnings to […]
NFTs In The Digital Content Industry. (Original article by CARTER HOFFMAN, in Trade Finance Global) You might have heard a lot of hype around these things called NFTs, or non-fungible tokens. How can these digital things be selling for millions of dollars? TFG investigates. Non-fungible what now? If you poke your nose around the blockchain space these […]
[SINGAPORE] Oil trader GP Global APAC has applied to the Singapore High Court for a six-month debt moratorium as its parent company seeks to restructure more than US$1 billion in debt, according to a company director, lawyers and a court document.
By the year 2030, it’s expected that ESG factors will be incorporated into 95 per cent of all assets. With the world’s biggest asset managers already on board and millions of dollars in green funding ready to be deployed, there’s pressure for businesses to buckle down on ESG in the coming years.
Agritrade, Hin Leong, ZenRock, Hontop, Sugih Energy : Frauds in 2020 Commodity Finance Fraud In 2020, commodity finance fraud claimed its place as the most popular topic on the GTR website, following several allegations and cases of fraudulent activity that were exposed across Asia and the Middle East. The first sign of trouble appeared in March when Singapore-based commodities […]
Societe Generale SA is closing its trade commodity finance unit in Singapore after the collapse of Hin Leong Trading (Pte) Ltd. prompted the bank to halt fresh funding to such firms in the region, Bloomberg News reported.