Business as unusual
Our articles and posts cover topics from business strategy to the nitty–gritty of daily operations. We publish in English, Russian, and French.
How to hedge steel prices without derivatives
If you deal with steel, the word “hedging” is a magic spell to turn you off. “Thanks, but this is not for us.” We know because we’ve been in your shoes. Time and again we were battered by a pricing roller coaster when trading and financing steel. We tried to do...
Commodity exports: turning a resource curse into an economic engine
Last month I attended the 5th edition of the Africa CEO Forum, a two-day event dedicated to the continent's socio-economic development. One of the forum’s key—and, unfortunately, protracted—discussions was how to end Africa’s resource curse and climb up the value...
Trade finance dichotomy
We live in an increasingly polarized world, and trade finance is no exception. The good old days when banks were able and willing to support a wide spectrum of exporters, importers, and traders are gone. Today, most lenders are chasing the same client: a...
Формирование банковских резервов в целевом финансировании ВЭД (Международные банковские операции)
Среди российских банков распространено убеждение, что заниматься целевым финансированием ВЭД невыгодно из-за высоких кредитных рисков и низкой эффективности использования капитала в условиях ценовой конкуренции с международными банками. На самом деле этот подход...
Фонды торгового финансирования (Банки и деловой мир)
Для внешнеэкономической деятельности экспортерам и торговым компаниям нужны значительные оборотные средства. В случае недостатка традиционных форм банковского кредитования на выручку приходит торговое финансирование, позволяющее заемщикам увеличить базу и снизить...
Who’s next to finance Russian exports? (TXF)
The Russian economy depends on exports of natural resources and commodities. The Federal Statistics Service reports that these accounted for half a trillion dollars in 2013, or 93% of all export revenues. Oil, gas, and petroleum products fetched $377bn followed by...
Финансирование экспорта: двигатель роста или упущенная возможность? (Банковское дело)
В 2013 году российский экспорт сырья и продукции низкого передела составил полтриллиона долларов, или 93% всех внешнеторговых доходов. Поставки нефти, газа и нефтепродуктов принесли 377 млрд долларов, черных и цветных металлов — 55 млрд, продукции химической...
L’assurance-crédit : à l’aube d’une nouvelle ère? (L’Agefi)
Parmi les fournisseurs qui vendent des biens et services à des conditions ouvertes, l’assurance-crédit est considérée par certains comme étant indispensable, alors que d’autres n’en voient pas l’utilité. Comment expliquer une telle polarité des opinions? ...
Exportations africaines: vers de nouvelles opportunités (African Business Journal)
Imaginez une entreprise de fabrication sans un département des ventes. Un non-sens ? Pourtant, de nombreux exportateurs africains ne sont pas équipés pour commercialiser leur production dans le marché mondial. Ensuite, imaginez une industrie bancaire qui laisse...
Trade credit insurance: more of the same or new era? (Trade and Forfaiting Review)
Among suppliers selling goods and services on open terms, trade credit insurance is seen as indispensable by some but useless by others. What accounts for such a polarity of opinions? International credit insurance is a relatively young industry. Having evolved from...
Old trade, new opportunities (Trade and Forfaiting Review)
Imagine a manufacturing business without a sales department. Nonsense? Yet, many producers in developing countries turn out commodities for export without being able to sell them to overseas customers.
Exporting with confidence
As all businesses expanding beyond national boundaries learn, global market opportunities go hand in hand with intrinsic risks. Whether one is aware or not, SMEs operating in foreign markets are routinely exposed to many risks. Examples include: · Price...
My cargo, my bond (Trade and Forfaiting Review)
As more customs bonded warehouses spring up around the globe, exporters may benefit from a new tool to manage the counterparty performance and credit risks. Consider the following situation as an example: Two parties enter into an international sales contract that...
FCR: flaws, risks, and solutions (Trade Finance Magazine)
A Forwarder’s Certificate of Receipt (FCR) facilitates international trade by offering the shipper of goods a possibility to advance receipt of payment, on the one hand, and providing the payer with the forwarder’s undertaking to ship the goods as indicated in the...
Choppy waters
At first glance, the global shipping industry may appear to be regulated and organized. A number of international organizations and industry associations—the United Nations Commission on International Trade Law (UNCITRAL), the International Chamber of Commerce (ICC),...
Embracing international business
If you produce a commodity product for export but don’t consider trade as your “core” business, chances are that you outsource international sales and distribution to third parties. This setup may have perfectly worked for a time, but one day you may get confronted with the following challenges:
