Sector - Commodity Finance

Betting on black

The GCC nations’ natural resources lie at the heart of their continued recovery, writes Joseph Trevisani.
 

Kucharczyk to lead Amreya Metal

Casting company goes for experience to push growth.

Renaissance launches oil and gas adviser

Bank and Jeffrey Waterous form new advisory service.

Promotions at Fortis Dubai

Bank expands commodities services. 

Mixed outlooks for MENA

Oil exports should rebound, but banking troubles remain, says IMF.

Severstal buys Core Mining stake

Deal funds development of African iron ore projects.

Warming up

Despite the disappointing outcome of the Copenhagen climate summit, banks are still hopeful of a brighter future for carbon trading. If uncertainty around the clean development mechanism scheme is addressed, the African market for one could yet take off, reports Julian Evans.

Zorlu to receive €130mn loan for wind farm

Zorlu Energy Group (Zorlu) said that its subsidiary is set to receive a loan of €130mn from multilateral lenders including the EBRD, for building a wind farm in Turkey.

Gunvor signs US$600mn one-year loan

Gunvor International, an independent oil trader headquartered in Amsterdam, which mainly exports oil from Russia, has signed a revolving one-year credit facility of US$600mn, successfully refinancing and extending last year’s debut of US$370mn.

Stemcor loan cheers commodity finance market

Stemcor, the UK-based steel trader, cheered the commodity finance market with a US$480mn renewal of its revolving credit facility. The new loan is US$80mn more than the company hoped to raise.

Standard Chartered makes senior capital markets appointment

Standard Chartered has appointed Tee Choon Hong as managing director, regional head of capital markets for North East Asia. Tee is based in Hong Kong and will report directly to Christian Wait, global head of capital markets.

Tullow secures $2bn new debt for Ghana oil project

African oil explorer Tullow Oil has managed to secure a massive US$2bn worth of new reserve-based debt facilities, based on its success in uncovering world-class oilfields in Africa in the past three years.

GCC insurance industry picks up speed

As international business continues its steady stream into the Gulf Cooperation Council (GCC) area, growth in the region’s insurance markets is accelerating, writes Kevin Godier.

The six GCC states have experienced breathtaking economic growth in recent years, witnessed by an estimated total of US$1.25tn of public and private projects planned or underway. As the level of insurable assets continues to rise, the world’s largest brokers and underwriters are keenly eyeing the opportunities.
 

West Africa’s new resource curse

Behind the sudden spike in some West African countries’ FDI is a dark story of state capture by Latin American narcotics gangs, as Mark Weston reports.

EBRD, EIB and World Bank join forces to support Eastern Europe

On February 27, the largest multilateral investors and lenders in Eastern Europe – the European Bank for Reconstruction and Development, the European Investment Bank and the World Bank – have pledged to provide up to €24.5bn to support the banking sectors in the region and to fund lending to businesses hit by the global economic crisis.