Stock News 2011: Swiss Reinsurance to insure $250-million trade financing of ADB

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s part of an innovative agreement to boost exports and imports in developing Asia, re-insurance giant Swiss Re will insure $250 million of trade finance conducted via the Asian Development Bank’s (ADB) trade finance program.

The move marks the first time that the Swiss Re Group, through its commercial insurance unit Swiss Re Corporate Solutions, has provided insurance via a trade program run by a multilateral development bank and also the first time ADB’s Trade Finance Program has offset risk with a private insurance company.

Asia’s economy is growing rapidly, but that is largely due to the exporting prowess of a handful of countries led by the People’s Republic of China, along with a few others such as the Republic of Korea and Singapore.

Many other Asian nations, by contrast, find it difficult to export or import key goods because they struggle to get the trade finance they need from international and local banks.

To fill that gap, the ADB’s Trade Finance Program provides guarantees and loans to banks to enable them to provide trade finance, particularly in so-called frontier economies.

http://mb.com.ph/articles/325896/swiss-reinsurance-insure-250million-trade-financing-adb

International News 2010: Legendary Asian brand continues to make ripples around the world

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Credit goes to a Chinese herbalist named Aw Chu Kin from Xiamen, China for creating the legendary Asian brand, Tiger Balm--a combination of various special blends like camphor and menthol and other aromatic oils in order to provide remedy to daily pain.

It was no surprise that Tiger Balm grew to become one of the world’s leading topical analgesics ever since it was introduced almost 100 years ago.

The product of Aw’s ingenuity did not escape the eyes of his two sons, Aw Boon Haw and Aw Boon Par, whose entrepreneurial acumen quickly saw the potential in their father’s creation. The brothers gave it the name “Tiger Balm,” the word “Tiger” being the English version of “Haw”, and symbolizing strength and vitality. They established their main headquarters in Singapore in 1926.

Tiger Balm captured the attention of global markets like the United States and Europe with its unique formulation and became a leading topical analgesic brand in the United States; a high no. 5 in its category.

Its position in the United Kingdom is also something to be proud of as it reached no. 10, ranking among other muscle and body pain ointments in an otherwise discriminating market.

Now present in nearly 100 countries worldwide, Tiger Balm has set phenomenal standards of success to which only few Asian brands can lay claim. Its current slogan is “works wherever it hurts.”

http://www.mb.com.ph/articles/285201/legendary-asian-brand-continues-make-ripples-around-world

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