Tag: Commodity Trading
The International Islamic Trade Finance Corporation (ITFC) has signed a €100-million Murabaha financing deal with the Senegal National Power Company (SENELEC). The deal is aimed at meeting Senegal’s growing demand for electricity, improving the reliability of its power supply, and expanding access to previously unserved communities. Under the terms of the deal, the ITFC is […]
The course of this last year has seen a fluctuation within fuel markets. Like many other countries, India has experienced similar trends. India’s crude oil imports from Russia fell in July for the first time since March. Meanwhile, its overall purchase of supplies from Saudi Arabia surged for the first in five months. This comes […]
The U.S. trade deficit in goods narrowed in May as imports declined, but the improvement was probably insufficient to prevent trade from being a drag on economic growth in the second quarter. However, this potential setback to gross domestic product (GDP) is expected to be counterbalanced by an increase in inventory investment. A recent report […]
Estimated reading time: 2 minutes India’s edible oil imports in July rose to a record 1.76 million metric tonnes as refiners built up stocks for upcoming festivals, given uncertainty over supplies from the Black Sea, five dealers told Reuters. Higher purchases by the world’s biggest importer of vegetable oils could help to lower palm oil […]
Estimated reading time: 2 minutes In 2023, UK exports in whisky and gin saw a 13% growth, reaching £9.4 billion. This increase is largely driven by young professionals who are opting for high-end brands to demonstrate “status and success”. A recent study by Hazlewoods, a group of chartered accountants and business advisers, has identified that […]
Estimated reading time: 1 minute In October, the eurozone shifted from a trade deficit to a surplus, according to the latest non-adjusted figures released on Friday. This change was largely due to a decrease in the value of energy imports compared to the previous year. Eurostat, the European Union’s statistics office, reported that the unadjusted […]
Estimated reading time: 3 minutes The African Export-Import Bank (Afreximbank) has effectively organised a syndicated $3.3 billion crude oil prepayment facility, under the sponsorship of the Nigerian National Petroleum Company Limited (NNPCL). An initial amount of $2.25 billion has already been distributed, with a further $1.05 billion anticipated in a subsequent tranche. This finance arrangement […]
