The bank signs a memorandum of understanding with General Electric and the Trade Bank of Iraq, a sign counterparties are ready to help companies finance Iraqi projects.
*Singapore and Korea team up on fintech
*CFTC proposal offers comfort to non-US entities
*Philippine SEC to regulate shadow banking lending rates
*FASB updates rules on intra-entity asset transfer
*China opens interbank money market to foreign FIs
*OECD finalising BEPS multilateral instrument
*PBoC appoints RMB clearing banks in US, Russia
*China begins direct trading of RMB, Saudi riyal and UAE dirham
Long the tool of choice in trade finance, fewer companies are using a letter of credit for its traditional purpose – but don't expect LCs to disappear any time soon.
The Netherlands-based paint manufacturer has promoted Timmerman, its Southeast Asia treasury head and a former CT award winner, to the role of director of business treasury.