Latest news with #workingcapital
Zawya
a day ago
- Business
- Zawya
DP World, JP Morgan in deal to boost trade finance availability
DP World Trade Finance and JP Morgan are collaborating to improve access to working capital in emerging markets, where supply chain disruptions and limited credit continue to hinder trade. The deal comes at a time when the world is facing a $2.5 trillion global trade finance gap, hindering the growth of global trade and impacting businesses worldwide. Many businesses are underserved by traditional financial institutions due to limited data on their creditworthiness, making it challenging for businesses to secure affordable credit, said DP World Trade Finance in its statement. This collaboration aims to address this gap and enables both companies to share the risk on trade finance transactions, it stated. The first transaction supported a leading global food company in procuring cocoa from Ivory Coast, one of the world's most important agri-export regions. This collaboration unlocked over $70 million in annual procurement opportunities for the client, and brought significant value into an emerging economy like Ivory Coast, it stated. Raj Jit Singh Wallia, Board Member, DP World Trade Finance, said: "This is a significant step in our mission to bridge the global trade finance gap and help businesses tap into new sources of funding. By leveraging risk-sharing mechanisms and combining them with logistics in one ecosystem, we reduce the overall credit risk profile and enhance liquidity in emerging markets." "This is one of many transactions stemming from our collaboration with JP Morgan. As regions like Central Asia and Sub-Saharan Africa continue to grow, we anticipate our work with JP Morgan will continue expanding into new markets," he added. James Fraser, Global Head of Trade & Working Capital, said: "At JP Morgan, we are committed to supporting global trade. Our collaboration with DP World Trade Finance allows us to offer innovative financing solutions that provide working capital to businesses while mitigating risk through DP World's expertise." "Looking ahead, we are excited to work together to explore and broaden access to structured trade finance in pivotal markets through innovative financial frameworks, he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Al Bawaba
02-06-2025
- Business
- Al Bawaba
NBB Launches Fully Digital Supply Chain Finance Solution to Enhance Working Capital Efficiency
The National Bank of Bahrain (NBB) has launched a fully digital Supply Chain Finance solution that connects buyers with their suppliers to enhance liquidity and optimise working capital to facilitate seamless trade and build better commercial ties, NBB's Supply Chain Finance solution, enables suppliers to receive early payments against approved invoices, while offering buyers the opportunity to improve their cash flow cycles. The solution, enabled through DigiCorp platform, reduces the administrative burden typically associated with manual payment processes by automating key interactions across the supply chain, allowing for quicker turnaround times and improved operational on the launch, Hisham Al Kurdi, Group Chief Executive – Markets & Client Solutions at NBB said, 'We are pleased to introduce the Supply Chain Finance solution, which demonstrates our ongoing efforts to provide digital-first services that empower our clients and enhance their business operations.'Vineet Munot, Group Head of Transaction Banking at NBB stated 'This initiative marks another important addition to our growing Transaction Banking offerings portfolio and reinforces our position as a market leader in delivering end-to-end trade finance and cash management solutions.'The solution offers a unique advantage to suppliers, particularly SMEs, by providing timely access to working capital without requiring additional borrowing or utilising existing bank credit lines. By offering attractive rates and a transparent financing process, NBB's Supply Chian Finance solution supports suppliers in maintaining financial stability and meeting their operational obligations more buyers, the solution contributes to more efficient balance sheet management and enables stronger alignment with strategic suppliers through improved payment cycles. By introducing an automated and transparent payment mechanism, buyers can not only streamline their internal processes but also reinforce long-term supplier with NBB's ESG objectives, the Supply Chain Finance solution plays an important role in strengthening the SME ecosystem by offering inclusive access to cost-effective financing. It seeks to build more sustainable and collaborative supply chains, reflecting the Bank's commitment to inclusive economic development. With the launch of NBB's Supply Chain Finance Solution, the Bank continues to expand its suite of innovative products aimed at driving business efficiency, growth, and resilience across Bahrain and the wider region.
Zawya
21-05-2025
- Business
- Zawya
Saudi Ground Services obtains $80mln loan from Banque Saudi Fransi
Riyadh: Saudi Ground Services Company inked a sharia-compliant bank facility agreement worth SAR 300 million with Banque Saudi Fransi on 15 May 2025, according to a bourse disclosure. The loan is valid until 30 April 2026, which is subject to a one-year renewal. It is secured by a promissory note. The company will use the funding to anchor its liquidity position and boost its working capital requirements when needed. In the three-month period that ended on 31 March 2025, Saudi Ground Services recorded 37.18% higher net profits at SAR 97.62 million, compared to SAR 71.16 million in Q1-24. Meanwhile, Banque Saudi Fransi logged net profits amounting to SAR 1.33 billion in the first quarter (Q1) of 2025, an annual rise of 16.34% from SAR 1.15 billion.
Globe and Mail
20-05-2025
- Business
- Globe and Mail
Stocks in play: Mountain Province Diamonds Inc
Announces today that it has entered into an amended and restated bridge credit facility agreement to provide for the Company's previously announced $33 million working capital credit facility with Dunebridge Worldwide Ltd., as administrative agent, security trustee and lender. The A&R Bridge Facility Agreement amends and restates the Company's existing bridge credit facility agreement with Dunebridge dated February 24, 2025. Mountain Province Diamonds Inc shares are trading unchanged at $0.07.
Zawya
19-05-2025
- Business
- Zawya
Saudi Ground Services secures $146.66mln shariah-complaint facility
Saudi Ground Services Company has signed a shariah-compliant bank facility agreement with the Banque Saudi Fransi (BSF) of up to 300 million riyals ($80 million). The facility, which is available to be drawn up to April 30, 2025, will be used to support working capital requirements. The company is a Saudi-based provider of ground-handling services in commercial airports and is majority owned by Saudia. (Writing by Brinda Darasha; editing by Seban Scaria)
