John Basquill

International banks HSBC and Citi have revealed a spike in demand for traditional trade finance instruments over recent months, seemingly bucking the trend of a longer-term decline. As a centuries-old financial instrument, letters of credit (LCs) are often considered somewhat unfashionable, and over recent years have accounted for only a small portion of trade-related payments.…

Financing deployed by the Asian Development Bank’s (ADB) trade and supply chain division has surged 50% in value year-on-year in the wake of the Middle East conflict, its director has said. The dramatic drop in vessel traffic through the Strait of Hormuz and a series of attacks on energy-related infrastructure in the region have had…

Trade finance and technology veterans Ali Ansari and Cesar Ortega have announced the launch of Nifina, a platform that aims to use AI to help corporates optimise working capital and improve access to finance. Once live, the platform will draw data from companies’ ERP systems, market sources and Nifina’s own models to assess where companies…

Former Raistone and LiquidX executive Mike Walker has launched Price Ridge Capital, a Florida-based firm that connects investors to mid-market corporates seeking working capital finance. Officially launched last month, Florida-based Price Ridge originates and services both receivables and payables finance programmes, targeting companies with revenue of over US$20mn that would benefit from optimising their working…

The most common causes of sanctions breaches at UK financial institutions are weaknesses in screening and alerts, the Financial Conduct Authority (FCA) has revealed, following a probe into more than 150 supervised firms. The regulator said it has carried out an examination of the financial sector’s approach to sanctions since September 2023, assessing reports related…

The founder of failed supply chain finance firm Greensill Capital has been banned from acting as a company director in the UK for nine years after signing a disqualification agreement with the country’s Insolvency Service. Lex Greensill, who acted as a director of three Greensill companies prior to the group’s infamous 2021 collapse, had been due to stand…

Surging demand for AI-related products has helped drive growth in global goods trade this year, but signs of a slowdown are emerging as the Middle East conflict continues, the World Trade Organization (WTO) has said. The WTO’s latest goods trade barometer, which measures several key indicators of merchandise flows, has showed that trade in electronic components remained “firmly above trend” over the last…

HSBC has launched a digital post-shipment financing product, HSBC TradeCash, allowing companies to draw down loans against invoices issued to their buyers without uploading trade documentation. Users of the solution can upload sales invoice data to the bank’s digital platform and receive funds within minutes once approved, the London-headquartered lender said today. Repayment is made directly from the buyer…

Oil inventories could reach historic lows in the coming months despite hopes of a peace agreement between US and Iran that would reopen the Strait of Hormuz, the International Energy Agency (IEA) has said. US President Donald Trump said on June 15 the country had reached a deal with Iran that would restore toll-free commercial traffic…

Soaring fertiliser prices due to the disruption in the Middle East has already impacted food production in Africa and Asia, and could have lasting effects for years to come, experts have warned. Prior to the conflict, the Strait of Hormuz carried 20-30% of global fertiliser exports, as well a significant share of crucial inputs such as sulphur and urea, according to UN estimates. But while…