The growth of business and consumer lending in the eurozone slowed in November. According to the latest figures from the European Central Bank (ECB) published on Thursday (Dec. 29), the annual growth rate of adjusted loans to nonfinancial corporations decreased to 8.4% in November from...
The Ukraine economy is beating expectations nearly a year into the war. The country’s economic growth is expected to level off or even grow as much as 1% in 2023 after dropping 30% this year, Bloomberg reported Tuesday (Dec. 27). In addition, the inflation rate...
Foreign exchange (FX) volatility presents challenges for cross-border payments, but digital multi-currency wallets offer a solution. According to Ola Oyetayo, CEO at B2B cross-border FX and payments enabler Verto, several of their customers are concerned about how the “macro” will impact them on a 6-month...
Trade finance firm Afreximbank has allocated $1.5 billion to help Caribbean countries access its services. The Cairo-based company announced the arrangement Monday (Dec. 26), saying it followed the addition of nine Caribbean countries to its Afreximbank Partnership Agreement at the first Africa-Caribbean Trade and Investment...
The African Development Bank Group is supporting the trade finance efforts of Bank One Limited. The Group will provide a $40 million trade finance package that is meant to help Bank One of Mauritius increase its capacity to provide trade finance to small to medium-sized businesses (SMBs), local...
Drip Capital and Vayana TradeXchange have partnered on trade finance services for small to medium-sized exporters. Through this partnership, Drip Capital — which offers post-shipment export financing — will use Vayana’s International Trade Finance Service (ITFS) platform to convert Indian exporters’ trade receivables into cash,...
Iraqi financial app provider Blue now enables users to trade U.S.-listed stocks. The Iraq-based FinTech said in a Friday (Dec. 16) press release that the launch of this latest technology for its Bluepay mobile app comes as the Central Bank in Iraq recently approved Blue to offer international money...
International money transfer company Wise has launched a new savings product. Launched in the U.K. on Thursday (Dec. 15), the new “Interest” product lets Wise Assets customers in the U.K. earn interest on their pounds, euros and dollars. The annual variable yields are 3.29% on...
The digital economy’s capacity to operate in real time across international borders can add layers of complexity to businesses’ commercial opportunities. Digital businesses can launch globally as quickly as they can locally, but they must take the challenges and complexities that come with international payments...