The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Frankly, I've been too busy this past month with research for this diary to pay this matter proper attention.
Thank you. "It Can't Be Just About Us"--Frank Schnittger, ETian Extraordinaire
India Times: Commodity traders hit by arrest of interbank lending (27 October, 2008)
The credit crisis has begun to take a toll on the real economy, slowly but surely. Among the sectors feeling the pinch, is commodities, though traders are not openly expressing their angst. A large south-based trader of edible oils has been unable to procure de-gummed soybean oil from a South American exporter, whose bank refused to discount the latter's bill owing to shortage of dollars. "Our banker, State Bank of India, issued a letter of credit (LC) to the exporter's bank in South America, but the bank refused to negotiate the LC and pay the exporter. We will now have to negotiate with another banker to get the consignment totalling 1.5 million tonne of de-gummed soybean oil," said a company source.
A large south-based trader of edible oils has been unable to procure de-gummed soybean oil from a South American exporter, whose bank refused to discount the latter's bill owing to shortage of dollars.
"Our banker, State Bank of India, issued a letter of credit (LC) to the exporter's bank in South America, but the bank refused to negotiate the LC and pay the exporter. We will now have to negotiate with another banker to get the consignment totalling 1.5 million tonne of de-gummed soybean oil," said a company source.
Icelanders are NOT terrorists
Gordon Brown unjustifiably used the Anti-terrorism, Crime and Security Act of 2001 against the people of Iceland for his own short-term political gain. This has turned a grave situation into a national disaster, affecting families in both Iceland and the United Kingdom. Help us avert greater damage by signing this petition now.
by gmoke - Nov 28
by gmoke - Nov 12 9 comments
by Oui - Dec 5
by Oui - Dec 41 comment
by Oui - Dec 2
by Oui - Dec 123 comments
by Oui - Dec 16 comments
by gmoke - Nov 303 comments
by Oui - Nov 3012 comments
by Oui - Nov 2838 comments
by Oui - Nov 2713 comments
by Oui - Nov 2511 comments
by Oui - Nov 24
by Oui - Nov 221 comment
by Oui - Nov 22
by Oui - Nov 2119 comments
by Oui - Nov 1615 comments
by Oui - Nov 154 comments
by Oui - Nov 1319 comments
by Oui - Nov 1224 comments
by gmoke - Nov 129 comments