The Poseidon Principles has announced revising its framework to align shipping’s top banks with the International Maritime Organization’s new climate change emissions target. The change marks a significant update following the…
Banking
Global Trade Finance Gap at Record $2.5 Trillion, Says ADB
(Bloomberg) — The global trade finance gap jumped to a record $2.5 trillion last year, as heightened economic risks left banks’ financing capacity stretched, according to the Asian Development Bank….
https://gcaptain.com/global-trade-finance-gap-at-record-2-5-trillion-says-adb/
World’s Biggest Blue-Bond Swap Emerges To Protect The Galapagos
By Esteban Duarte, Maria Elena Vizcaino and Natasha White (Bloomberg) –The world’s biggest ocean friendly debt swap is coming together in Ecuador, with Credit Suisse Group AG offering a yield of…
https://gcaptain.com/worlds-biggest-blue-bond-swap-emerges-to-protect-the-galapagos/
UBS Likely to Shrink Credit Suisse’s $10 Billion Shipping Portfolio -Report
March 22 (Reuters) – UBS Group AG will likely shrink Credit Suisse Group’s $10 billion shipping portfolio that it inherited as part of its emergency takeover on Sunday, the Wall Street Journal reported on Wednesday. UBS…
https://gcaptain.com/ubs-likely-to-shrink-credit-suisses-10-billion-shipping-portfolio-report/
UBS Likely to Shrink Credit Suisse’s $10 Billion Shipping Portfolio -Report
March 22 (Reuters) – UBS Group AG will likely shrink Credit Suisse Group’s $10 billion shipping portfolio that it inherited as part of its emergency takeover on Sunday, the Wall Street Journal reported on Wednesday. UBS…
https://gcaptain.com/ubs-likely-to-shrink-credit-suisses-10-billion-shipping-portfolio-report/
SVB Bailout Could Immediately Solve Global Problems
What is the common denominator in the recent port congestion crisis and current Taiwan security crisis, global food crisis, global energy crisis, US military PACOM logistics crisis, the Silicon Valley…
https://gcaptain.com/an-svb-bailout-could-immediately-solve-many-global-problem/
EU has opportunity to harness crisis to deepen economic union, Structural reforms required to safeguard democratic future, and more
EU has opportunity to harness crisis to deepen economic union
By Ellie Groves and Taylor Pearce
The response from the European Commission after the 2008 financial crisis was slow and partial. Having learned from these missteps, the European Union’s response to Covid-19 was swift. The Russian invasion of Ukraine has posed yet another crisis. The EU has an opportunity to harness these crises to implement much-needed reform within its institutions and member states.
Structural reforms required to safeguard democratic future, Europe needs action now on inflation to brake loss of euro trust, and more
Structural reforms required to safeguard democratic future
By Sunil Sharma and William White
Macroeconomic stabilisation policies cannot address the deep structural problems that confront the economies of many advanced democracies. Indeed, pretending that they can poses a threat to democracy itself as a worsening economic reality increasingly disappoints popular expectations. To confront this political vulnerability, actual policies must be improved, but popular expectations must also become more...
FTSE opens higher following mixed overseas trading, with Tesla helping lift tech sentiment
- Tech-heavy NASDAQ is down over 1% after Netflix’s disappointing subscriber losses, but Tesla results put the worst of tech fears to bed
- FTSE100 up 0.4%, following mixed trading from Wall St and Asia
- US Federal Reserve chair Jerome Powell, ECB President Christine Lagarde and Bank of England governor Andrew Bailey are due to meet today, with inflation, interest rates and the Ukraine crisis likely to be discussed
- Oil price...
Cyprus Shipping Deputy Ministry supports seafarers impacted by Ukraine crisis by facilitating the opening of bank accounts
CYPRUS, 20th April 2022: The Cyprus Shipping Deputy Ministry (SDM) has collaborated with the financial institutions in Cyprus to facilitate the opening of bank accounts for seafarers affected by the war in Ukraine.
The Seafarer Workforce Report, published in 2021 by BIMCO and ICS, reports that combined, Ukrainian and Russian seafarers represent 14.5% of the global workforce. As more Russian banks are...