Welcome to April's issue of Credit Management News Digest, our new sister newsletter to Credit Insurance News Digest. This issue is sponsored by Markel

Index
UK Economy
UK growth to slow in 2019 as uncertainty bites, but could pick up in 2020 with an orderly Brexit. UK GDP growth could dip to 1.1% in 2019 before picking up to around 1.6% in 2020 according to PwC’s latest UK Economic Outlook report. Pwc advises that the drag on business investment due to ongoing uncertainty about the outcome of Brexit is causing slower growth at present, but assuming an orderly exit from the EU followed by a transition period, investment and GDP growth should pick up later in 2019 and in 2020. John Hawksworth, chief economist at PwC, commented: “Brexit-related uncertainty is likely to dampen growth in all regions in 2019, but there could be some acceleration in growth across the UK in 2020 if an orderly Brexit can be achieved. In this scenario, the Bank of England could resume very gradual interest rate rises later in 2019 or in 2020, but it is unlikely to take any action until the fog of uncertainty has cleared.” To read PwC's news release go to https://www.pwc.co.uk/press-room/press-releases/UK-growth-to-slow-in-2019-as-uncertainty-bites.html.
The UK economy might have been about 3% larger by the end of 2018 without Brexit. Standard & Poors (S&P) has published an article, 'Countdown to Brexit: What might have been for the UK economy', which analyses the extent to which the UK economy has already suffered from the mere anticipation of Brexit. According to the article, the economy actually moved onto a lower growth trajectory almost immediately after the referendum and had the UK not decided to leave the EU in the 2016 referendum, S&P estimate that the economy might have been about 3% larger by the end of 2018. Furthermore, If and when, uncertainty finally lifts, S&P note that it will take time before some of the effects kick in. "Moreover, some businesses have ventured well beyond the point of no return." To read S&P's article go to https://www.capitaliq.com/CIQDotNet/CreditResearch/RenderArticle.aspx?articleId=2190948&SctArtId=469326&from=CM&nsl_code=LIME&sourceObjectId=10935272&sourceRevId=1&fee_ind=N&exp_date=20290403-14:31:51.
UK economy to falter further as Brexit uncertainty bites. The British Chambers of Commerce (BCC) has slightly downgraded its growth expectations for the UK economy, forecasting growth of just 1.2% in 2019 (down from 1.3%), which if realised would be the weakest growth in a decade. The BCC has also downgraded its growth forecast for 2020 to 1.3% (down from 1.5%) and published its first forecast for 2021 of 1.4% growth. Growth in the dominant services sector is expected to weaken to 1.1% in 2019, which would be the slowest growth since 2009. The manufacturing and construction sectors are also expected to grow by less than expected in BCC's previous forecast. The BCC forecast assumes that the UK avoids a messy and disorderly exit from the EU. Another scenario would lead to revisions in the next forecast. To read the BCC's news release go to https://www.britishchambers.org.uk/news/2019/03/bcc-forecast-uk-economy-to-falter-further-as-brexit-uncertainty-bites.
KPMG revises UK growth forecast due to Brexit and global headwinds. According to KPMG UK’s quarterly Economic Outlook, the lack of clarity around Brexit and headwinds from the global economy has resulted in a downgrade of the short-term outlook for the UK economy. Assuming that a Brexit deal can be reached, the analysis predicts the economy will grow at a rate of 1.2% in 2019 and 1.5% in 2020. Regardless of the outcome of Brexit, the EU will continue to be one of the largest markets for the UK by virtue of its size and proximity. Based on KPMG analysis, seven EU countries currently feature among the top 10 largest potential trading partners for the UK, representing 49% of UK’s potential exports market, with Switzerland accounting for another 3%. The two largest world economies, China and the US are the only non-European economies among the top 10. To read KPMG's news release go to https://home.kpmg/uk/en/home/media/press-releases/2019/03/kpmg-revises-uk-growth-forecast-due-to-brexit-and-global-headwinds.html.
UK mid-sized businesses outpaced by EU counterparts. According to new research by BDO, turnover growth of the UK’s mid-sized businesses increased by a healthy 11% in the last year, bringing overall turnover to £1.3 trillion. This pales in comparison, however, to the accelerated growth witnessed in equivalent EU markets, with Germany seeing an upturn of 20% during the same period, while both Italy and Spain welcomed increases of 15%. Of the top five EU economies analysed, only French mid-sized businesses experienced slower growth than those in the UK, with a 9% increase bringing overall turnover to £1.8 trillion in the last year. Although UK mid-sized businesses still remain the most profitable across the top five EU economies, profit growth tells a similar story to revenue growth with UK mid-sized businesses recording a 4% increase in the last year compared with a 19% increase in the previous year. European counterparts Spain, Germany and Italy experienced significantly higher profit growth of 37%, 30% and 24% respectively. Again, only France lags behind the UK having experienced a profit drop of 3%. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2019/uk-mid-sized-businesses-outpaced-by-eu-counterparts.
Brexit Sensitivity Index 2019 shows which countries are the most vulnerable. Standard & Poors (S&P) has published its second edition of 'Brexit Sensitivity Index 2019: Who Has The Most To Lose? 'which lists the 21 countries most exposed to Brexit. S&P found that nine of the ten countries with the greatest exposure to Brexit in 2016 are still in that group today, although there has been a reshuffling in the rankings, with perhaps the most notable change being that the Netherlands has moved up four places to become the third most vulnerable economy. Between year-end 2015. Ireland (1st place) and Luxembourg (2nd place) also feature as the economies most susceptible to any trade and migratory aftershocks of a potential Brexit. To read S&P's article go to https://www.capitaliq.com/CIQDotNet/CreditResearch/RenderArticle.aspx?articleId=2187857&SctArtId=468960&from=CM&nsl_code=LIME&sourceObjectId=10927634&sourceRevId=1&fee_ind=N&exp_date=20290327-23:47:13.
The number of UK scale-ups hits a record high. According to a new report, 'ScaleUp Insights' from The ScaleUp Institute, the total number of scaleups in the UK increased in 2017, with 36,510 businesses growing their turnover or employee numbers by more than 20% a year - an increase of 3.7% (or 1300 scaleups) compared of 2016. There are now 35% more scaleups in the UK than there were in 2013, compared to GDP growth over the same period of just 9%. Furthermore, growth has taken place across the country and there are now no scaleup ‘cold spots’ in the UK. According to the Institute, Scaleups generated £1.3 trillion in combined turnover in 2017, more than half the total of all SMEs, and were on average 42% more productive than their peers. To read The ScaleUp Institute's report go to http://www.scaleupinstitute.org.uk/research/the-scaleup-landscape/.
Late Payment
New proposals to tackle UK late payments. Real Business has reported that the UK Chancellor, Philip Hammond's Spring Statement included some important new proposals to tackle the continued problem of slow payments for SME suppliers. These included requiring large buyers to appoint a non-executive director with specific oversight of the company’s payment terms and requiring businesses to publish audited reports on their payment times in their annual account. The Federation of Small Businesses, which has been campaigning on this issue for many years, described them as potentially marking the end of the late payments crisis, which according to FSB figures leads to the closure of 50,000 businesses a year. To read Real Business' article go to https://realbusiness.co.uk/tackling-slow-payments-spring-statement/.
The impact of late payments on SMEs. Accountancy Age has published an article, 'The impact of late payments on SMEs', in which Duff & Phelps has highlighted their concerns that the late payment culture is resulting in further low productivity and financial instability. In their statement, the firm reported: “Our concerns follow recent research by Bacs Payment Schemes, which claimed that small businesses are facing a collective bill of £6.7 billion per annum in outstanding payments owed by other companies—up from £2.6 billion in 2017.” Paul Williams, Managing Director at Duff & Phelps went on to cite the fact that around 50,000 businesses fail each year due to late payments. This amounts to a £2.5 billion shortfall for the UK economy to withstand. The average value of each late payment now stands at £6,142, according to Mr Williams. To read Accountancy Age's article go to https://www.accountancyage.com/the-impact-of-late-payments-on-smes/.
UK Exports and Trade
A third of EU trade is with the United States and China. Latest data from Eurostat has found that in 2018, the US (€674 billion, or 17.1% of total extra-EU trade in goods, i.e. the sum of exports and imports) and China (€605 billion, or 15.4%) continued to be the two main goods trading partners of the EU, well ahead of Switzerland (€265 billion, or 6.7%), Russia (€254 billion, or 6.4%), Turkey (€153 billion, or 3.9%) and Japan (€135 billion, or 3.4%). However, the trends observed over time differ for these top trading partners of the EU. After recording a significant and almost continuous fall from nearly 25% in 2000 to 14% in 2011, the share of the US in EU total trade in goods increased again to reach 17% in 2018. In contrast, the share of China has almost tripled since 2000, rising from just over 5% to more than 15% in 2018. To see Eurostat's latest research go to https://ec.europa.eu/eurostat/documents/2995521/9678910/6-20032019-AP-EN.pdf/0ebd7878-dad5-478e-a5f0-3ae2c91f7ea3Please note that the text above is a summary of Eurostat's news.
The share of UK exports to the EU has decreased significantly from 54% in 2000 to 45.6% in 2018. New data released by the Office for National Statistics indicates that UK exports increased by 2.7% to 634.1 billion in 2018, with exports to India (up 19.3%), Japan (up 7.9%), China (up 4.6%) and Canada (up 4.2%) growing faster than those to the EU (up 3.6%). The ONS' figures also show that the UK's export of goods and services to non-EU trading partners in 2018 reached a high of £345.1 billion, with the share of exports going to the UK’s top 3 non-EU trading partners - USA, China and Switzerland - increasing from 21.3% in 2000 to 25.4% in 2018. In contrast, the share of UK exports to the EU has decreased significantly from 54% to 45.6% over the same period. According to Eurostat, the UK was one of only two EU member states to export more goods to non-EU countries than within the EU in 2018. To read Gov.UK's news release go to https://www.gov.uk/government/news/uk-bsuinesses-embrace-global-demand-for-british-produce.
UK export growth on brink of contraction in the first quarter of 2019. According to the latest European Export Index report by BDO, UK export growth fell perilously close to the point of contraction in the first quarter of 2019 with further disruption expected later this year. German export growth also slowed due to weaknesses in the global automotive industry as car sales continued to stall in key markets. BDO suggests that dismal figures from the UK and Germany are consistent with a broader slowdown in export growth observed across the EU, although the French economy bucked the trend witnessed across Europe, exceeding expectations to become the top performing exporter among the EU’s five largest economies. To read BDO's news release and download the full report go to https://www.bdo.co.uk/en-gb/news/2019/uk-export-growth-on-brink-of-contraction-in-first-quarter-of-2019.
UK Trade Sectors
UK manufacturing activity continues to weaken. Manufacturing output growth in the quarter to March was at its weakest since May 2018, according to the latest monthly CBI Industrial Trends Survey. Output volumes expanded in 11 out of 17 sub-sectors, with growth driven predominantly by the food, drink, & tobacco, chemicals, and metal manufacture sub-sectors. Meanwhile, the mechanical engineering, paper, printing & media, and motor vehicles & transport equipment sub-sectors were the main drags on growth. Looking ahead, firms anticipate output volumes to grow at a broadly similar pace in the next three months. Anna Leach, CBI Head of Economic Intelligence, said: “The manufacturing sector has slowed again this month and is now barely growing. Brexit uncertainty is one of the biggest threats to growth in the UK manufacturing sector – both current and future – as firms prioritise stockpiling goods over investing in the future of their business." To read the CBI's news release go to http://www.cbi.org.uk/news/cbi-march-2019-manufacturing-survey/.
UK High street struggles to gain ground as retail woes heighten. According to BDO’s latest High Street Sales Tracker, disappointing in-store like-for-like sales in March failed to offset last year’s dire performance. Sophie Michael, Head of Retail and Wholesale at BDO LLP, said: “With increased footfall, falling unemployment and rising wages, the stars should have aligned for high street retailers in March. Yet sales remained extremely poor and any positive movement failed to make a dent in the huge negative result we had last year caused by the Beast from the East. “There has been noise of increases in total consumer spending, but these results only demonstrate that the spending is largely driven as a result of price inflation of weekly essentials with the discretionary purse remaining bare. Retailers continue to trade on paper-thin margins and the impact of further increases in business rates and staffing costs from this April will only add to the fears of further possible high street casualties.” To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2019/high-street-struggles-to-gain-ground-as-retail-woes-heighten.
UK Quarterly Economic Survey for Q1 2019 indicates that both the Services and Manufacturing sectors are performing weakly. The British Chambers of Commerce’s (BCC) has reported that its latest quarterly economic survey found that in the services sector, the percentage balance of firms reporting an increase in export sales stood at zero, its weakest level since 2009 and the orders balance turned negative (more firms reporting that orders have decreased than those reporting an increase) for the first time in eight years. The balance of firms reporting improved domestic sales and orders also weakened significantly in the quarter. Among manufacturers, the percentage of firms reporting an increase in domestic and export sales and orders dropped back to their 2016 levels. Reacting to the Q1 results, Dr Adam Marshall, Director General of the BCC, said: “These are some of the weakest figures we’ve seen in nearly a decade." To read the BCC's news release go to https://www.britishchambers.org.uk/news/2019/04/bcc-quarterly-economic-survey-q1-2019-business-hits-the-brakes.
UK retail sales fell in March. UK retail sales volumes fell in the year to March, compounding a subdued start to 2019, according to the latest monthly CBI Distributive Trades Survey. The survey indicated that retail sales volumes fell sharply (-18%), the fastest contraction in 17 months and marked a four-month run in which sales have not grown. Although this disappointed retailers’ expectations for strong growth in March, sales volumes are expected to rise again in April (+15%). Year-on-year growth in internet sales slowed in March (+21%) to the lowest rate in 12 months. The CBI noted that It is possible that year-on-year sales growth in March has been distorted by the later timing of Easter this year. Indeed, sales volumes actually rose further above average for the time of year (+13% from +4% in February) and are expected to remain above seasonal norms in April (+12%). To read the CBI's news release go to http://www.cbi.org.uk/news/retail-sales-fall-in-march-cbi/.
2019 will see 70% of the global economy experience a slowdown in growth. The Head of the International Monetary Fund (IMF), Christine Lagarde, has predicted that the global economy is losing momentum and that many countries will experience slower growth in 2019. In a speech delivered ahead of the IMF’s annual spring meeting next week, where it will issue its world economic outlook, she commented: "Only two years ago, 75% of the global economy experienced an upswing. For this year, we expect 70% of the global economy to experience a slowdown in growth." However, she also stressed that though the outlook is 'precarious', the IMF does not anticipate a recession in the near term. To read the IMF's transcript of Ms Lagarde's speech go t https://www.imf.org/en/News/Articles/2019/03/29/sp040219-a-delicate-moment-for-the-global-economy.
Overall, stable GDP growth in G20 area with the exception of Mexico, UK, Brazil and Canada. The OECD has advised that provisional estimates indicate that growth of GDP in the G20 area was stable at 0.8% in Q4 2018 and slowed marginally in the OECD area (to 0.3%, from 0.4%). Most notably, growth rebounded in Japan to 0.5% in Q4, following a contraction of 0.6% in Q3, while Korea (to 1.0%, from 0.6%) and India (to 1.6%, from 1.5%) also saw significant improvements. On the other hand, GDP growth slowed in a majority of the remaining G20 economies - significantly in Mexico and the UK (to 0.2%, from 0.6%), in Brazil and Canada (to 0.1%, from 0.5%), and more moderately in South Africa, the US, China, Italy and Australia. Overall, year-on-year GDP growth for the G20 area slowed to 3.4% Q4 2018 (from 3.6% in Q3), with India recording the highest growth (6.8%) and Turkey the lowest (- 3.1%). Year-on-year growth for the OECD area slowed to 1.8% (from 2.2%). To read the OECD's news release go to http://www.oecd.org/newsroom/g20-gdp-growth-fourth-quarter-2018-oecd.htm.
Global trade growth loses momentum as trade tensions persist. The World Trade Organisation (WTO) has reported that world trade will continue to face strong headwinds in 2019 and 2020 after growing more slowly than expected in 2018 due to rising trade tensions and increased economic uncertainty. WTO economists expect merchandise trade volume growth to fall to 2.6% in 2019 (accompanied by GDP growth of 2.6%.— down from 3.0% in 2018. Trade growth could then rebound to 3.0% in 2020, out-pacing GDP growth due to faster GDP growth in developing economies, although this is dependent on an easing of trade tensions. To read the WTO's news release go to https://www.wto.org/english/news_e/pres19_e/pr837_e.htm.
Credit Management News and Recommended Business Apps
The vital role of credit management for SMEs in the post-Brexit future. The Chartered Institute of Credit Management (CICM) and ITN Productions Industry News have announced that they have launched “Credit Experts”, a news and current affairs-style programme exploring the evolving credit landscape – from new technologies and artificial intelligence solutions for managing customer outcomes to essential guidance for SME. Philip King, Chief Executive of CICM said: “Credit professionals play a vital role in multiple areas of commercial and consumer credit, delivering expert knowledge, advice and services that support economic growth and best client/customer outcomes. ‘Credit Experts’ focuses on some of the most recent examples of best practice and new technology, providing a ‘snapshot’ of an industry that continues to innovate and evolve.” “Credit Experts” can be viewed at www.cicm.com.
The likelihood of late payment most can be mitigated by good cash flow management. Hilton Baird has reported that 57% of UK businesses have experienced problems with cash flow, with 38% of these consequently unable to pay their debts. The average small business is owed £31,055 in overdue invoices, with self-employed workers 2.5 times more likely to have cash flow issues than businesses with up to 49 employees and are three times more likely to apply for a loan than any other group. According to Hilton Baird, the likelihood of late payment most can be mitigated and controlled to a degree by good cash flow management. Hilton Baird notes, for example, that for many companies, employing a digital solution can make a fast and significant change and cites research that raising an invoice on mobile, for instance, results in payment after an average of 8 days as opposed to 28. To read Hilton Baird's news release go to https://www.hiltonbairdcollections.co.uk/small-business-lose-an-average-of-26000-due-to-poor-cash-flow/.
Tripit. The Tripit software and app allows frequent business travelers to manage a master itinerary of travel. Once users have forwarded their confirmation emails for flights and hotel bookings to Tripit, Tripit automatically creates a master itinerary that can be easily shared to managers, colleagues or family. Tripit users are also provided with updates on the status of their flights, allowing them to check for delays or even find better seats. It also corrals weather forecasts, maps, and directions. To sign up for Tripit go to https://www.tripit.com/uhp/features.

Square Point of Sale. Square Point of Sale allows you to turn any iPhone, iPad or major Android device into a mobile POS that accepts credit and debit cards (including contactless cards) and mobile payments like Apple Pay. The Square Point of Sale app is free to download, card readers are £39+VAT and payment processing fees are 1.75% of each transaction for all major credit cards. Additional capabilities include online sales reports, inventory and digital receipts. For more information go to https://squareup.com/shop/hardware/gb/en
 
Basecamp is a great app that can simplify tasks for you and your team. It offers six main components: a chatroom, a message board, a documents and images bank, a task list, a calendar, and a recurring check-in system which together eliminate the difficulties and extra work when emails, chat threads, Word docs, etc are scattered in too many places. It's also free for the first 30 days! Go to https://basecamp.com/ or download from the App Store or Google Play. 

Late Payment iCalc is a useful free app from Safe Collections which is designed to encourage prompt payment by UK companies. Enter the invoice value, day it became overdue and the app gives you a complete breakdown of both the fixed costs and interest payable on any unpaid invoice. The app holds no logs and requires no special permissions. Download from the App Store or Google Play. 

MY MINUTES is an excellent app to focus the mind and avoid distractions. The app allows you to easily set up daily business and personal goals. such as 'spend 1- hour emailing clients' or 'exercise for 30 minutes' and set reminders for activities. Build up streaks as you meet your goals; keeping your streak alive will motivate you to keep going tomorrow. The app is available for iPhones only.
April's Quiz - sponsored by Markel. 
We are delighted to launch April's News Quiz.
Just nine short questions (most answers can be found in this issue and Credit Insurance News Digest), with the chance to win a wonderful prize, kindly donated by Markel, of a £50 Amazon gift card.
We will announce our next winner in the next issue on 8 May.
Click here to take part.

Thank you to readers who took part in March's Quiz. We are delighted to say that the prize went to Clodagh Garavan at Evo Surety.
Events & Offers
ICC Banking Commission Annual Meeting, 8-11 April. Beijing, China.
The Banking Commission of the International Chamber of Commerce (ICC), in collaboration with China Chamber of International Commerce (CCOIC) and ICC China, is pleased to invite you to the highly-anticipated ICC Banking Commission Annual Meeting to be held at the China World Summit Wing on 8-11 April 2019. 
This two-day flagship event will bring together over 600+ of the most influential trade finance experts, banking professionals, business leaders, lawyers and government officials from over 65 countries to debate the critical issues affecting the trade finance industry.  Objectives
  • Gain valuable insight into the latest developments in trade finance from prominent keynote speakers, industry experts and business and finance experts.
  • Exchange ideas in lively discussions specially designed to address the most topical themes in trade finance.
  • Influence the debates through active participation in the Plenary and breakout sessions - the Annual Meeting is the most open forum to influence policy and guidelines that govern the trade finance industry.
  • Learn about the policy and regulatory changes affecting the industry through ICC’s market- leading work in standard setting, market intelligence and policy making.
  • Extend your sphere of influence through our network of over 600 members in more than 100 countries. Be a part of the largest and most authoritative voice in the field of trade finance. 
Target Participants 
  • Financial institutions (sales and client relationship managers, product managers, back office managers, risk managers)
  • Multilateral development banks and export credit agencies
  • Government organizations
  • Corporates
  • Independent financiers
  • Insurance brokers
  • Underwriters
  • Lawyers and consultants
  • Service providers
Link to Program/Agenda.
To view the full programme, please click here
Register here to attend the 2019 Annual Meeting Registration deadline: 08 March 2019
GTR UK 2019, 8 May 2019. London.
With negotiations between the United Kingdom and the European Union set to conclude in March 2019, GTR UK 2019 provides one of the earliest opportunities for the UK business community to convene and discuss the country’s post-Brexit trade strategy, taking place in London on May 8, 2019.
Enjoying unrivalled support from the UK’s primary trade bodies and leading export-focused institutions and having welcomed around 500 delegates gathered across leading industries in 2018, the event provides a crucial forum for domestic exporters, financiers and trade specialists to network, discuss and debate.
Join GTR and over 50 speakers as we explore the future of UK trade and exports, examining the trading opportunities within and beyond Europe and the implications of this new economic landscape for businesses.
Last year, 54% of attendees were corporates & traders and 14% were bankers & financiers representing over 250 different companies from around the world. 84% of all attendees held a senior to a c-level position.
10% early booking discount available until April 5 when booking online with code: EBD10. Click here for more information.
GTR East Africa 2019, 21-22 May 2019, Nairobi.
For over a decade, the GTR East Africa conference has brought together leading commodity producers and traders, manufacturers, trade finance specialists, risk management experts, and trade tech innovators, providing unrivalled insight on operating in this exciting region.
Returning to Nairobi for 2019, a comprehensive two day agenda will provide a comprehensive view of the East African trade landscape, featuring in-depth analysis of geopolitical and macroeconomic trends, regulatory and finance sector developments, and the trade financing and risk mitigation techniques being utilised throughout key regional value chains, from agribusiness to oil and gas and value-add manufacturing sectors.
With over 170 different companies represented at 2018’s event including 50% corporate sector representatives, the GTR East Africa conference is established as the region’s leading gathering for all those seeking to build crucial contacts and gain the inside track on doing business across the region. 
10% early booking discount available until April 26 when booking online with code: EBD10. Click here for more information.
BCR’s Consortia 2019. Blockchain for Trade and Receivables Finance, 21-22 May 2019. London. 
BCR’s Consortia 2019 is the first international conference to raise the profile of consortiums who are pioneering blockchain and distributed ledger technology (DLT) for trade finance to the business and financial community. 
Consortia will provide a forum for the consortiums and their prospective partners and other interested parties to showcase and evaluate their development and the future. The event will provide opportunity for discussion on how blockchain and DLT are impacting trade finance and the business opportunities these new technologies offer to banks, funders, SMEs, government bodies, trade bodies and corporates etc. 
With case studies of live transactions, examples of POCs and insights from the leading consortiums, this is not an event to be missed. 
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link www.consortia2019.com The Credit Insurance News delegate discount code is CIN19– please utilise the code upon booking.
Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
TXF Global 2019: Export, Agency & Project Finance 12, 13 & 14 June, Grand Hyatt Berlin.
This 12, 13 & 14 June we bring your flagship export, agency & project finance show to Berlin! If you only attend one event of the year in this industry, TXF Global is ‘the one’. Join the gig and throw yourself into deal heaven with the CEOs of Corporates, ECAs, DFIs, SOEs and government ministers. 
3 days of epic headline acts, intimate networking, inspiring content and innovative session types await anyone brave enough to get themselves a ticket. 
Keynote speakers include:
  • Prof. Dieter Kempf, President, FEDERATION OF GERMAN INDUSTRIES
  • Dr. Christoph Herfarth, Head of Export Finance and Export Credit, Guarantee Department, GERMAN FEDERAL MINISTRY FOR ECONOMIC AFFAIRS AND ENERGY
  • Anna-Karin Jatko, Director General, EKN - THE SWEDISH EXPORT CREDIT AGENCY
  • Gabriel Cumenge, Deputy Assistant Secretary, MINISTRY OF FINANCE OF FRANCE - DG TRÉSOR
  • Jose Pedro Freitas, CFO, MOTA-ENGIL GROUP
  • Debora Revoltella, Chief Economist, EUROPEAN INVESTMENT BANK 
Visit the website for the full speakers list and agenda. To secure your ticket please book online here .
GTR US 2019, 13 June 2019. Chicago.
The GTR US conference is set to return to Chicago for its third consecutive year on June 13, 2019.
With the US midterm elections taking place in November 2018 amidst ongoing global geopolitical volatility and technological disruption across the trade sector, the strategic challenges surrounding trade financing, working capital optimization, and credit risk management remain a firm fixture on the boardroom agenda. A rapidly evolving market offering competing digital solutions across physical trade flows and the associated financing sectors only adds to the complexity faced by those tasked with financing US commerce.
Featuring a host of expert speakers, GTR US 2019 provides the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling corporate treasurers, financiers and trade credit managers to form a resilient, bottom line-boosting business strategy.
An in-depth, interactive agenda spanning business-critical insights from geopolitical risks to the latest financing trends, liquidity sources and tech innovations in the trade space will furnish attendees with a comprehensive view of the key commercial trends emerging in 2019. 2018’s meeting saw record attendance from across the trade sector, welcoming companies including Microsoft, Mars Inc, Caterpillar, Motorola, Bunge, Siemens, Olam, Samsung, BP, Louis Dreyfus Commodities and IBM, as well as leading trade and supply chain financing practitioners, credit risk mitigation experts, government bodies and those tech companies leading the disruption of trade.
With a keen focus on networking, GTR US 2019 will once again provide the ideal forum for US companies and financial service providers to meet and discuss the next steps for US trade, and the evolution of the trade finance space.
Last year, 26% of attendees were corporates & traders and 24% were bankers & financiers representing over 100 different companies. 91% of all attendees held a senior to a c-level position.
Companies that attended last year included ArcelorMittal, BP, Caterpillar, Louis Dreyfus Commodities, Mars Inc., Microsoft Corporation, Plexus Corp, and more. View the full list of companies that attended last year’s event here.
10% early booking discount available when booking online by May 17 with code: EBD10. Click here for more information.
GTR Asia 2019, 3-6 September 2019, Singapore.
GTR Asia 2019 (formerly known as Asia Trade & Treasury Week) will return to Singapore September 3-6, 2019. Recognised as the world’s largest international gathering for the trade, commodity, fintech and treasury community, GTR’s annual event in Singapore last year welcomed a record-breaking total of over 1,100 industry participants from local and international banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and more!
2019’s event is set to be even bigger and better! Participants will have the chance to hear over 100 of the world’s leading trade, treasury and fintech experts reflecting on developments in the Asian market and more globally, whilst also having the chance to network and discuss trade priorities with over 500 different companies.
Delegates will also benefit from the use of multiple streams with coverage at the event focused on a range of topics and markets, whilst a variety of formats (breakouts, workshops, debates, formal launches, speed-networking) will provide excellent opportunities for engagement and knowledge sharing.
With the event once again enjoying unrivalled support from local government organisations and public bodies including the Monetary Authority of Singapore (MAS) and Enterprise Singapore, as well as the world’s leading financial institutions, attendees will receive critical market insight, build business relationships and gain the inside track on the latest financing trends and techniques.
Use code: EBD10 for 10% early booking discount – expires August 2. Click here for more information.
GTR Europe 2019, 14 October 2019, Paris.
GTR Europe 2019 returns to Paris to welcome regional trade experts from across the continent. A key market gathering for European trade and export finance business heads and key relationship builders, the event will further expand on GTR’s unrivalled reach across the regional and global trade finance market.
Expected to welcome over 250 delegates from 15 countries, the conference will deliver a well-rounded outlook on Europe’s economic growth, trade concerns and priorities for the future, allowing representatives to share their insights on the most current topics.
This one-day event features sessions addressed by and for corporates and is one not to be missed by those looking to build trade relations across a range of exciting markets! 
Last year, the two largest sectors in attendance were corporates & traders (39%) and bankers & financiers (22%). Over 250 different companies from around the world were in attendance, 78% of all attendees held a senior to a c-level position. Use code: EBD10 for 10% early booking discount – expires September 20. Click here for more information.
TRAINING: STECIS Training Seminars 2019
Training and education on Trade Credit Insurance and Surety is provided by STECIS, the educational foundation endorsed by ICISA. STECIS promotes knowledge and professionalism in the technical theory and practice (case studies) of trade credit insurance and surety underwriting. This includes in-depth analysis of industry developments, the terminology and the current market.
STECIS is happy to announce that it will, as usual, organize two-day training seminars on Trade Credit Insurance and Surety on both basic and advanced levels in 2019.
The STECIS training seminars are two-day events which are highly interactive. They cover technical and practical knowledge on respectively Trade Credit Insurance and Surety Bonds, the theory of underwriting, in-depth analysis of industry developments, the terminology and the current market. In addition, participants are asked to review case studies.
The basic training seminars are on 9 and 10 April 2019 and are open to participants with limited experience. The advanced training seminars are set for 11 and 12 April 2019 and are suited to participants who have attended the basic training seminar or have more experience. The seminar fee is €2200 - and includes all training material, the welcome cocktail & all meals (dinners & lunches). Travel costs and any additional expenses (e.g. hotel room, phone, (mini) bar) are not included.
Please go to the STECIS website for more information on the training seminars and to download the registration forms: www.stecis.org.
About the Sponsor: Markel
Credit is vital to the commercial world. Markel’s global solutions promote trade by ensuring that buyers and sellers can do business with confidence. We offer a wealth of experience in trade credit, political risk and surety covers, to control counterparty payment default, expropriation, confiscation and performance risks.
Markel's team offers expert knowledge of commercial counterparty and sovereign covers across a wide spectrum of trade sectors. The key benefits for clients include security of non-cancellable credit and country limits, balance sheet and cash flow protection, improved terms for bank financing facilities, effective alternatives to letters of credit or other types of collateral, reduced need for bad debt reserves, fulfilment of capital adequacy requirements, increased potential for sales growth and security of performance obligations - all because the risks are hedged and secured on a firm foundation.
The team has extensive experience of providing global solutions for clients, but can also tailor policies for specific credit risks, markets and contingencies. As a result of the complexity of our clients’ risks spanning political, cultural, legal and social differences, it is crucial to choose an insurer who understands all of the facets of international and domestic trade, combined with a detailed understanding of available solutions across a variety of contexts and geographies.

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