CGA, the French factoring subsidiary of Société Générale (SG), said that it has finalised a deal to provide factoring services to Air France.
“Through close dialogue and cooperation, CGA was able to tailor its services to suit Air France’s needs, offering non-recourse factoring up to an agreed amount of €250m,” it added in a statement.
CGA described the operation as a new step in the close relationship between SG and Air France and showed the will of SG to support its clients and their needs by offering tailor-made solutions and innovative services.
CGA provides factoring services to around 4,600 clients in France and elsewhere in Europe.
Data from Swift’s latest RMB tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE), witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base.
SWIFT has announced that it has successfully completed the first phase of the global payments innovation (GPI) initiative pilot, clearing the way for the go-live of the service in early 2017.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.