World food prices dipped in May for second consecutive month World food prices dipped in May for a second consecutive month after hitting a record high in March, although the cost of cereals and meat both rose, the United Nations’ food agency said on Friday. The Food and Agriculture Organization’s (FAO) food price index, which tracks […]
Impact of armed conflict on global trade and environment Over the last ten years, nature dependent exports accounted for 40% of annual world trade ($7.4 trillion) – 36% of which stemmed from non-democratic regimes, as defined by the Economist Intelligence Unit’s Democracy Index. For this sector of global trade, the conflict in Ukraine has brought the risks associated with […]
“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.
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.
Singapore is continuing its drive to promote e-invoicing with the aim of helping companies improve efficiency, reduce costs, streamline payment cycles and minimize environmental impact.