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Semiconductor Tech Firm IceMOS Technology One of Only Ten Exceptional Exporters Honoured in UK Government’s Made in the UK, Sold to the World Awards

Retrieved on:

tisdag, april 23, 2024

MEMS, MBE, Isles, Export, Research, IOE, Business, Growth, DBT, International trade, CO2

Recognized in the Advanced Manufacturing & Construction category, IceMOS Technology is a privately held semiconductor technology corporation and manufacturer of a new class of MEMS-based (microelectromechanical systems-based) power and sensing advanced semiconductor technologies.

Key Points:

Recognized in the Advanced Manufacturing & Construction category, IceMOS Technology is a privately held semiconductor technology corporation and manufacturer of a new class of MEMS-based (microelectromechanical systems-based) power and sensing advanced semiconductor technologies.
The proven technology serves wide-ranging applications anywhere that power efficiency and sensing matters.
Through strategic global exports, IceMOS has not only expanded its customer base but fortified the resilience of the UK semiconductor sector.
With a strong focus on market diversification, IceMOS has achieved remarkable growth and now serves over 150 customers.”

Nexgen Packaging Opens Its African Headquarters in Nairobi, Kenya

Retrieved on:

torsdag, april 25, 2024

MAS, RFID, Republic, Heart, Export, Partnership, Marketing, Property management

WESTMONT, Ill., April 25, 2024 /PRNewswire/ -- Today, Nexgen Packaging, a global provider of apparel brand identification and packaging products, announced the grand opening of its African headquarters in Nairobi, Kenya. The event was marked by a ceremony and tour attended by His Excellency Hon. William Samoei Ruto, Ph.D., C.G.H., President of the Republic of Kenya, and Meg Whitman, U.S. Ambassador to Kenya.

Key Points:

Dignitaries Attend Launch of Nexgen's Leading-Edge Sustainable Facility, the Industry's First on the Ground in Kenya
WESTMONT, Ill., April 25, 2024 /PRNewswire/ -- Today, Nexgen Packaging , a global provider of apparel brand identification and packaging products, announced the grand opening of its African headquarters in Nairobi, Kenya.
"Nexgen is proud to be the first global supplier in this industry to be on the ground in Kenya," said Jim Welch, chief executive officer, Nexgen Packaging.
Nexgen Kenya brings a comprehensive set of capabilities and product offerings to the African market, focusing on sustainable solutions.
"For nearly a decade, Nexgen has been a key partner, supplying essential trims and packaging solutions for our apparel products.

Dominant currency pricing in international trade of services

Retrieved on:

torsdag, april 25, 2024

SF1, Goldberg, LCP, Statistics, Research Papers in Economics, VCP, Place of birth, Postal, A.4, Journal of International Economics, Business, International, ISIC, Data collection, Heritage, Macroeconomics, Banco de Portugal, Computer, Tech, Prevalence, MCI, Agriculture, Audiovisual, European Economic Association, CNY, Journal of Monetary Economics, Pauwels, Insurance, Paper, Corsetti, Laurent, Environment, R2, Portuguese Economic Journal, Website, Table, Working paper, VB, Public opinion, World Bank, Collection, Travel, Transport, Science, PII, International economics, PDF, ECB, Foreign exchange market, Policy, Angelo Bacchetta, Social science, Labour economics, Communication, Journal, Research, Classification, A.5, Literature, DCP, European Central Bank, Mining, Export, Equation, Monetary economics, Section 5, Practice of law, Elasticity, ISO, COVID-19, BIS, Electricity, Automation, The Economic Journal, Chung, Employment, A.2, Telecommunications, International Monetary Fund, Tourism, UTC+01:00, Section 4, IUSD, Health care, F14, Database, Section 3, PCP, International finance, NIPE, Annual report, Note, Section 2, Conference, CPI, Central bank, SH42, Incidence, FE, American Economic Review, SF3, Exercise, Test, Justice, Forestry, SK22, Quarterly Journal, GDP, Central Statistics Office (India), Green, SG1, B.1, SF, Swings, Payment, IES, A.6, JPY, Colum, Bank, Reproduction, World Trade Organization, IMF, SF2, F31, Geography, Data, SF4, Cryptocurrency

Abstract

Key Points:

Abstract
We analyze, for the first time, how firms choose the currency in which they price transactions
in international trade of services and investigate, using direct evidence, whether the US dollar
(USD) plays a dominant role in services trade.
JEL: F14, F31, F41
Keywords: dominant currency paradigm, international trade, services.
Related research has
shown that the US dollar (USD) exchange rate is a major source of swings in
global trade in goods?a ?dominant currency pricing? (DCP) phenomenon?since
most goods traded internationally are invoiced and sticky in USD.
Yet it is also key to look at dominant currency pricing in international trade
in services for several reasons.
First, global trade in services is big?accounting for
about a quarter of global gross trade flows and for around 40% in terms of valueadded trade.
Third, and relatedly, the
future of globalisation might be in trade in intermediate services?as progress with
digitech lowers technological barriers to such trade across borders.
But perhaps the main reason is that trade in services is conceptually different
from trade in goods.
Our paper is the first, to our best knowledge, that analyzes how firms choose
the currency in which they price transactions in international trade of services and
that examines whether dominant currency pricing differs between trade in goods
and services using direct evidence? hitherto unavailable?on patterns of currency
choices in international transactions in services compared to goods.
Work on dominant currency pricing has
almost exclusively focused on trade in goods.
One reason is that data on patterns
in invoicing currency for trade in services are ?virtually nonexistent? (Adler et al.
Yet it is important to look at dominant currency pricing in international trade
in services for several reasons.
Using the exporter?s (or producer) currency in exports is known in the literature as producer
currency pricing (PCP), while using the importer?s currency is known as local currency pricing (LCP)
and using a third currency is known as vehicle currency pricing (VCP).
Our paper is the first, to our best knowledge, that analyzes how firms choose the
currency in which they price transactions in international trade of services and that
examines whether dominant currency pricing differs between international trade in
goods and services using direct evidence ? hitherto unavailable ? on patterns of
currency choices in international transactions in services compared to goods.
First,
we rule out compositional effects, that is that differences in the use of currencies
reflect differences in trade partners in services vs. goods trade.
Both in extra-EU and intra-EU trade, the EUR is the
most widely used currency, be it on the export or import side.
Based
on the framework, we stress which factors should determine currency choices in
international trade, and to what extent one should expect differences between
services trade and goods trade.
Second, it can price in the importer?s currency
(local currency pricing, LCP).4 Third, it can use a third currency, say currency
v (vehicle currency pricing, VCP).
That is,
the currency choice problem is equivalent to determining the currency in which the
desired price is least volatile.
(2022)
provide systematic empirical evidence ? firm size and exposure to foreign currencies
in imported inputs ? should also shape currency choices in services trade.
Dominant currency pricing in USD ? services vs. goods trade
Having established that currency choice in international trade of services is an
active firm-level decision as well as the determinants of this decision, we now
8.
Services and goods exports: prevalence of different pricing strategies (percent)
Notes: The table shows the shares (in value terms) of different pricing strategies: producer currency
pricing (PCP), local currency pricing (LCP) and vehicle currency pricing (VCP).
To make comparisons with goods trade, we rely on Eurostat?s
macro data on international trade in goods by invoivcing currency.
If intra-EU trade is more important in services than
in goods trade, this could hence be an explanation for the lower prevalence of the
USD in services trade.
We showed
that while the USD is also extensively used as a vehicle currency in services trade, its
prevalence is systematically lower than in goods trade.
Hence for all travel services exports
the invoicing currency is the EUR; for travel imports it is the currency of the
destination of travel (i.e.
Also for these
ECB Working Paper Series No 2932

33

services it seems plausible that trade does not take place vis-?-vis all counterparts
in each currency.
Figure B.2: Share of international trade in services in global GDP broken down by type (%)
Notes: Authors? calculations using World Bank and World Trade Organization data.
An earlier version of this paper circulated under the title ?Currency choices and the role of the
U.S. dollar in international services trade?.

SBA Names First American Bank Export Lender of the Year for the Second Time

Retrieved on:

onsdag, april 3, 2024

SBA, First American Bank, International trade, Bank, Export

CHICAGO, April 03, 2024 (GLOBE NEWSWIRE) -- The U.S. Small Business Administration’s (SBA) Office of International Trade selected First American Bank as its 2024 Export Lender of the Year.

Key Points:

CHICAGO, April 03, 2024 (GLOBE NEWSWIRE) -- The U.S. Small Business Administration’s (SBA) Office of International Trade selected First American Bank as its 2024 Export Lender of the Year.
The three SBA export loan programs—including the Export Working Capital Program (EWCP), International Trade Loan, and Export Express Program—provide federal support to small businesses aiming to expand their operations abroad.
With more than a decade as a delegated EWCP lender, First American Bank’s trade finance department extensively leverages SBA export loans to fulfill customers’ export goals.
By working closely with small businesses to fill trade financing gaps, First American Bank earned its first SBA Export Lender of the Year honor in 2017.

WorldFirst Launches New Solution to Support Growth of UK SME’s Global Trade

Retrieved on:

onsdag, mars 27, 2024

WorldFirst, a one-stop digital payment and financial services platform for global businesses, especially SMEs in international trade, has launched an e-commerce growth solution to help UK SMEs trade globally.

Key Points:

WorldFirst, a one-stop digital payment and financial services platform for global businesses, especially SMEs in international trade, has launched an e-commerce growth solution to help UK SMEs trade globally.
Through the solution accessible via the World Account, SMEs need just one account which has a simple set-up process to start cross-border e-commerce trade.
View the full release here: https://www.businesswire.com/news/home/20240326208316/en/
Bruce Ding, General Manager of WorldFirst International Business, shares global e-commerce opportunities for UK SMEs at a WorldFirst partner conference in London, March 2024.
Global trade is expected to grow by 3.3% this year and retail e-commerce sales are expected to grow 8.8% over the same period.

Digital Realty to Host NVIDIA-Powered AI Supercomputer in Denmark

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tisdag, april 2, 2024

Deep learning super sampling, H100, Digital Realty, Research, AI, DGX, Carbon, Novo Nordisk Foundation, Imagination, Investment fund, Export

The DGX SuperPOD also includes NVIDIA AI Enterprise software for pretrained models, optimized frameworks, and accelerated data science software libraries.

Key Points:

The DGX SuperPOD also includes NVIDIA AI Enterprise software for pretrained models, optimized frameworks, and accelerated data science software libraries.
Chris Sharp, Chief Technology Officer at Digital Realty, commented, "Digital Realty is at the forefront of crafting the digital future, transcending mere infrastructure development to become architects of tomorrow.
We envision Digital Realty as more than a meeting place for AI; we aim to establish it as the premier nexus for private AI, where enterprises and data converge.
This collaboration between Digital Realty, the Novo Nordisk Foundation, EIFO, and NVIDIA marks a significant milestone in Denmark's AI research and innovation landscape.

Denmark to build one of the world's most powerful AI supercomputers, accelerating solutions to societal challenges

Retrieved on:

måndag, mars 18, 2024

The collaboration is led on the Danish side by the Novo Nordisk Foundation and the Export and Investment Fund of Denmark (EIFO).

Key Points:

The collaboration is led on the Danish side by the Novo Nordisk Foundation and the Export and Investment Fund of Denmark (EIFO).
"Drug discovery, disease diagnosis, and treatment, as well as complicated life science challenges, are examples of areas where extreme AI computing power can enable the positive transformation of our society.
The collaboration with NVIDIA and the resulting national AI innovation centre can help Denmark's brilliant researchers and innovators rise to the next level."
"Our government is committed to enhancing Denmark's global standing when it comes to cutting-edge technology alongside our unparalleled data resources.

Denmark to build one of the world's most powerful AI supercomputers, accelerating solutions to societal challenges

Retrieved on:

måndag, mars 18, 2024

The collaboration is led on the Danish side by the Novo Nordisk Foundation and the Export and Investment Fund of Denmark (EIFO).

Key Points:

The collaboration is led on the Danish side by the Novo Nordisk Foundation and the Export and Investment Fund of Denmark (EIFO).
"Drug discovery, disease diagnosis, and treatment, as well as complicated life science challenges, are examples of areas where extreme AI computing power can enable the positive transformation of our society.
The collaboration with NVIDIA and the resulting national AI innovation centre can help Denmark's brilliant researchers and innovators rise to the next level."
"Our government is committed to enhancing Denmark's global standing when it comes to cutting-edge technology alongside our unparalleled data resources.

Helping Canadian creative businesses and organizations achieve financial success on the world stage

Retrieved on:

måndag, mars 11, 2024

Government, Organization, Environment, Perception, Travel, Quarter, City, POP, Ecosystem, Creativity, Export, Tourism

SAINT-JEAN-SUR-RICHELIEU, QC, March 11, 2024 /CNW/ - The Government of Canada is committed to helping Canadian creative businesses and organizations enhance their visibility and increase their export profits in global markets.

Key Points:

SAINT-JEAN-SUR-RICHELIEU, QC, March 11, 2024 /CNW/ - The Government of Canada is committed to helping Canadian creative businesses and organizations enhance their visibility and increase their export profits in global markets.
This support helps Canadian companies and organizations grow their business and achieve financial success abroad.
This includes support for 8 creative businesses and organizations from equity-deserving communities and 1 Indigenous business.
Since its launch in 2018, Creative Export Canada, under the Export-Ready Stream, has invested $51.7 million in 116 export-ready projects from 103 creative industry businesses and organizations.

Yara Growth Ventures invests in Dynelectro – an innovation leader in electrolysis technology for low-cost renewable hydrogen.

Retrieved on:

fredag, mars 8, 2024

SOE, Heinz, Export, Investment fund, Electrolysis, Hydrogen, Renewable energy

Yara Growth Ventures invests in Dynelectro, who develops technologies to unlock the potential of solid oxide electrolysis (SOE).

Key Points:

Yara Growth Ventures invests in Dynelectro, who develops technologies to unlock the potential of solid oxide electrolysis (SOE).
While SOE yields the highest possible efficiencies to produce renewable hydrogen and e-fuels, it has been suffering from system lifetime issues up to now.
The investment is part of Yara’s ambition to decarbonize fertilizer production and enable the hydrogen economy.
Investing in companies like Dynelectro realizes that strategy by supporting new technologies for the production of affordable low-emission end products.