In managing a world of suppliers, the Australian conglomerate has a platform that allows it to play its banks like it’s conducting an orchestra. Group treasurer Cliff Allison explains.
The unmet demand for trade finance services yawns widely reaching more than $1.6 trillion. The ICC concludes banks alone will not solve this desperate issue.
The aircraft maker said it had failed to provide full disclosure on its use of third-party agents for sales in the emerging markets. Authorities are looking into the case while freezing credit support.
The Reserve Bank of India has further pushed its plan to get the whole country’s payment and settlement system onto an electronic platform. But the plan, called Vision 2018, does not oblige companies to comply.
Basel III proposals requiring banks to report intra-day liquidity will severely stifle correspondent relationships, but the infrastructure could be valuable to companies.