Global Trade Review, London, 12 Sepptember 2016) Euler Hermes has announced a credit insurance joint venture (JV) with China Pacific Property Insurance Company (CPPIC). Headquartered in Shanghai, the venture will operate under the name CPPIC Euler Hermes and be managed by existing members of...
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2016/09/30
Country: Russia
(Global Construction Review, London, 29 September 2016) Russia has offered to embark on a spectacular renewal of its economic relations with Cuba, based on 55 projects with a total value of some $4bn over the next four years, and has also agreed a cooperation agreement in the nuclear power...
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2016/09/30
Country: Canada, United Kingdom
ECAs: Export Development Canada
(The Telegraph, London, 17 September 2016) Canada is setting up an export agency office in the UK in an attempt to boost trade links with one of its biggest trading partners after the EU referendum. In the latest indication of the desire of non-EU countries to do more business with the UK,...
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2016/09/30
Country: France, Germany, United Kingdom
Issue: Aircraft, World Trade Organization
(The Week, London, 23 September 2016) French aircraft-maker Airbus has benefitted from as much as $22bn (£17bn) in illegal state aid from EU member states, including £3bn from the UK, the World Trade Organisation (WTO) has ruled. The judgement marks the latest chapter in what the BBC brands the...
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2016/09/29
Country: Netherlands
ECAs: Atradius
Issue: OECD
(Both Ends, Amsterdam, 5 September 2016) At the end of 2016, the Dutch government will present a policy review of its export credit facility - as implemented by Atradius Dutch State Business (ADSB) - to the national Parliament. In conversations with multiple staff members of parliamentarians,...
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2016/08/29
Country: France, United Kingdom
Issue: Aircraft
(Global Trade Review, London, 3 August 2016) France’s Airbus group supplied a near tenfold increase in customer financing following a freeze in export credits from the UK, France and Germany earlier this year, in light of potential corruption and transparency issues. In its half-yearly...
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2016/07/31
Country: Russia, United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Nuclear
(Tehran Times, Tehran, 14 July 2016) Iran’s Ministry of Energy and UK Export Finance (UKEF) signed a memorandum of understanding in London over financing Iranian water and electricity projects, IRNA reported on July 13. “All the Iranian energy projects which require foreign investment or...
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2016/07/30
Country: France, Germany, United Kingdom
ECAs: COFACE, Euler Hermes Deutschland AG, UK Export Finance (UKEF)
Issue: Aircraft, Corruption
(Reuters, Paris, 27 July 2016) Airbus Group has agreed with European governments a process for regaining access to export credits, suspended earlier this year over flawed disclosures on the use of third-party agents to help to sell passenger jets, the company said on Wednesday. In a footnote in...
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2016/06/29
Country: Italy, Russia
ECAs: SACE S.p.A.
Issue: Oil, Gas and Mining
(Trend News Agency, Baku, 18 June 2016) Gazprombank, the Italian export credit agency, the Russian export credit agency EXIAR and Azerbaijani company SOCAR have signed a Memorandum of Understanding (MoU) on the financing and construction of a gas chemical complex in Azerbaijan. The new large-...
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2016/06/29
Country: Russia
(Belarus News, Minsk, 17 June 2016) The National Center for Marketing and Price Studies of the Belarusian Ministry of Foreign Affairs and the Russian Agency for Export Credit and Investment Insurance (EXIAR) have reached an agreement on sharing information and working together to arrange visits...
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2016/06/29
Country: Italy
ECAs: SACE S.p.A.
(Gulf News, Dubai, 27 June 2016) Italy’s export credit agency SACE plans to move into Islamic finance, becoming one of the first Western trade finance bodies to do so, in order to support expansion of its business in the Middle East and North Africa. SACE insured €40.7 billion ($46.4 billion;...
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2016/06/29
Country: France, USA
ECAs: COFACE, Export-Import Bank of the United States
(Global Trade Magazine, Newport Beach, 27 June 2016) GE has announced an agreement under which COFACE, the French export credit agency, will provide an additional line of credit for gas turbine combined cycle projects that require export financing in countries such as Saudi Arabia, Mexico, and...
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2016/05/31
Country: Argentina, Italy
ECAs: SACE S.p.A.
(TFX News, Rome, 30 May 2016) Italian ECA SACE reopened its support of transactions with Argentina after the Italian undersecretary for development Ivan Scalfarotto last week announced guarantees for €700 million credit lines during his visit to the newly-liberalised Latin American country.
2016/05/31
Country: Italy
ECAs: SACE S.p.A.
Issue: OECD
(BelTA, Minsk, 12 May 2016) Italian insurance companies will assist Belarus in improving its ratings in the Organization for Economic Cooperation and Development (OECD) country risk classification. The matter was discussed at the meeting between Ambassador Extraordinary and Plenipotentiary of...
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