ING has been awarded ‘Best Trade Finance Bank 2014 in the Netherlands’ by Global Finance magazine at the BAFT-IFSA Global Annual Meeting on 21 January. ING also won the ‘Best Trade Finance Bank 2014 in Romania’ award. Winners were chosen by country, region and globally.
The editors of Global Finance selected the best trade finance providers in 76 countries and 7 regions, based on input from industry analysts, corporate executives and technology experts. In addition, a poll of Global Finance’s readership was conducted in order to increase the accuracy and reliability of the results. Criteria for choosing the winners included transaction volume, scope of global coverage, customer service, competitive pricing, and innovative technologies. The full survey and report will be published in the February 2014 issue of Global Finance.
“An excellent trade finance bank is an essential partner for corporations as they expand their global reach, ” said Joseph D. Giarraputo, publisher and editorial director of Global Finance. “It takes a strong international network, investment in technology, and specialised talent to deliver the trade services and financial solutions that corporations need to succeed in today’s increasingly competitive environment.”
Dollar facing collapse, warns Mahathir
The US dollar is facing an imminent collapse and the global economy will suffer a "catastrohpe" when it is rejected as the currency for trade, former Malaysian prime minister Mahathir Mohamad said in remarks published Wednesday.
Mahathir, who famously ignored International Monetary Fund (IMF) advice and instead chose to peg his country's ringgit to the US dollar during the Asian financial crisis, said a standard gold currency was now the best alternative for world trade.
The dollar was retaining some value because of fears of a global economic catastrophe if it was rejected, he told a conference of some 650 chief executives from 30 countries at a conference in Kota Kinabalu on Borneo island Tuesday, The Star newspaper reported
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"Of the 20 most developed countries in the world, the U.S. was dead last in the growth rate of total compensation to its workforce in the 1980s.... In the 1990s, the U.S. average compensation growth rate grew only slightly, at an annual rate of about 0.1 percent" (The European Dream, p.39). Yet Americans work longer hours per year than any other industrialized country, and get less vacation time.
"Sixty-one of the 140 biggest companies on the Global Fortune 500 rankings are European, while only 50 are U.S. companies" (The European Dream, p.66). "In a recent survey of the world's 50 best companies, conducted by Global Finance, all but one were European" (The European Dream, p
The biggest dollar surplus country today is China. Globalization is in fact just a code word for dollarization. The Chinese Yuan is fixed to the dollar. The US is being flooded with cheap Chinese goods, often outsourced by US multinationals. China today has the largest trade surplus with the US, more than $100 billion a year. Japan is second with $70 billion. Canada with $48 bn, Mexico with $37 bn and Germany with $36 bn make the top 5 trade deficit countries, a total deficit of almost $300 billion of the colossal $480 deficit in 2002. This gives a clue to US foreign policy priorities.
Capital City Bank Group, Inc. to Present at 2014 KBW Community Bank Investor .. — MarketWatch
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