Singapore and South Korea launch green shipping corridor

Singapore and South Korea have signed an agreement to establish a Green and Digital Shipping Corridor (GDSC), aiming to advance decarbonisation and digitalisation in the maritime sector. Under the MOU, the two countries will cooperate on developing the infrastructure, standards, and technology needed to support ships running on low- or zero-emission fuels. This includes joint work on bunkering facilities, technical alignment, knowledge exchange, and pilot projects involving both industry and research partners. Training initiatives for maritime professionals will also be part of the collaboration.

The agreement extends beyond environmental goals, with a focus on using digitalisation to improve data sharing and operational efficiency in global shipping. Both governments see this as an important step towards enhancing supply chain resilience across the Asia-Pacific region.

For corporate treasurers, particularly those whose businesses have logistics or trading operations in the region, the move could signal future shifts in shipping costs, fuel sourcing, and sustainability reporting requirements. The initiative aligns with growing expectations for greener supply chains and could help corporates meet decarbonisation targets as shipping routes begin transitioning to alternative fuels such as ammonia, methanol, or hydrogen.

Singapore and South Korea are among Asia’s largest maritime hubs, and both play pivotal roles in regional trade flows. By developing shared frameworks for green fuel adoption and digital tracking systems, the corridor could eventually offer greater transparency and efficiency in cross-border trade documentation and payment processes. These areas are increasingly relevant for treasury teams managing liquidity and risk across multiple jurisdictions.

Chun Jae Soo, the South Korean Minister of Oceans and Fisheries, commented: “The Republic of Korea and Singapore are key maritime partners in Asia, and together we will lead efforts to achieve international shipping decarbonisation.

Jeffrey Siow, Singapore’s Acting Minister for Transport, added: “This partnership underscores our shared commitment to building a sustainable and future-ready maritime sector. By advancing clean energy, digital innovation, and skills development, we not only address national priorities but also contribute to global efforts for green shipping and strengthen supply chain resilience."         

 

Steady recovery forecast for Sweden’s economy

Sweden’s economy is beginning to recover after a prolonged slowdown, with growth expected to accelerate in 2026 as inflation and interest rates fall, according to Swedbank’s latest Economic Outlook. The bank predicts that a combination of stronger household consumption, expansionary fiscal policy, and rising public investment will underpin the recovery, though uncertainty remains high.

Recent indicators show consumer activity picking up, with both household consumption and retail turnover improving. Swedbank expects household spending to rise by around 3% in 2026, supported by higher disposable income and lower borrowing costs. Mattias Persson, Swedbank’s group chief economist, said the shift marks a turning point: “We’re seeing clearer indications that household consumption has started to increase, and that sentiment has improved. Lower inflation, tax cuts and a decline in interest expenses will give consumption and the Swedish economy a boost.”

The labour market, which has softened over the past two years, is forecast to strengthen gradually as the recovery takes hold. Employment is projected to rise from 2026, with unemployment expected to fall to around 7.7% by the end of 2027.

Swedbank expects the Riksbank to keep its policy rate unchanged at 1.75% until at least late 2027. With inflation expected to remain below the 2% target for much of next year, and the krona likely to appreciate, the central bank has limited incentive to move rates in the near term. Persson noted that although growth is improving, “resource utilisation is low, and it will take time for the situation on the labour market to normalise.” He added that a rate cut remains more likely than a hike if economic momentum weakens.

Fiscal policy is expected to play a more active role in stimulating growth. The government’s upcoming budget includes tax reductions, additional support for Ukraine, and loan-financed defence and infrastructure spending, pushing the public-sector deficit to just over 2% of GDP next year. Public investment is projected to reach its highest share of GDP since 1980 by 2026.

The housing market, meanwhile, is stabilising after a sharp downturn, with Swedbank forecasting price growth of 2% in 2026 and 4% in 2027 as lower rates and stronger household finances support demand.

Overall, the bank expects GDP to rise by 2.4% in 2026 and 2.2% in 2027. For corporate treasurers, the outlook suggests a period of relative rate stability and a gradual return of consumer-led growth. Such conditions could help ease refinancing pressures and improve liquidity planning across Swedish operations.

 

Goldman Sachs expects Fed to cut rates in December

Goldman Sachs expects the Federal Reserve to deliver another rate cut in December, despite recent comments from Chair Jerome Powell that signalled a more cautious stance. The US central bank lowered its benchmark rate by 25 basis points to a range of 3.75-4% in October, marking its second reduction this year.

Powell said during last week’s press conference that a December cut is “not a foregone conclusion,” citing “strongly different views” among members of the Federal Open Market Committee (FOMC). His remarks were interpreted as hawkish by markets, suggesting that the Fed remains wary of cutting too quickly.

Even so, Goldman Sachs Research believes that the broader direction of policy remains towards gradual easing. In its September projections, the FOMC’s median forecast pointed to at least one more cut before the end of 2025. Chief US economist David Mericle said that, while the Fed’s tone has become more cautious, the underlying data continue to support further easing.

The latest inflation readings indicate that price growth is close to the Fed’s 2% target, while employment data suggest a continued cooling in the labour market. “Because the FOMC does not want further cooling, this is likely to be a strong argument for another cut,” Mericle wrote.

The recent US government shutdown has limited the availability of official economic data, adding to uncertainty ahead of the Fed’s December meeting. However, most indicators point to moderate economic expansion, slower wage growth, and stabilising inflation expectations. This mix could justify another small rate reduction.

For corporate treasurers, an additional cut would further ease short-term funding costs and could bolster market confidence heading into 2026, though the Fed’s cautious tone suggests it will continue to balance rate adjustments against signs of persistent inflation pressure.

 

Citi expands tokenised payments platform to Europe

Citi has expanded its Citi Token Services (CTS) platform to include euro transactions and operations in Dublin, strengthening its ability to offer round-the-clock liquidity and payment solutions for corporate and institutional clients. The move extends the platform’s reach beyond existing hubs in the US, UK, Singapore, and Hong Kong, marking another step in the bank’s digital asset strategy.

The Dublin launch positions Citi to better support clients in Europe, enabling continuous transfers between USD and euro accounts at any time of day. By integrating CTS with its global infrastructure, Citi aims to remove the constraints of traditional banking hours, helping treasurers manage liquidity more efficiently across jurisdictions.

Citi Token Services operates on a private, permissioned blockchain, allowing clients to move funds instantly between accounts while maintaining the security and compliance standards of traditional banking. Since its launch last year, the platform has processed billions of dollars in transactions, offering an alternative to conventional clearing systems that depend on cut-off times and intermediaries.

The latest expansion follows the September integration of CTS with Citi’s 24/7 USD Clearing platform, which was the first of its kind in the industry. Together, the developments aim to simplify cross-border transactions by combining real-time settlement with tokenisation technology.

For treasurers and institutional clients, the ability to move funds between key markets in multiple currencies without time-zone restrictions could improve working capital management and reduce operational friction. Dublin’s addition to Citi’s CTS network reflects growing demand for tokenised payment solutions in Europe, particularly among corporates seeking faster settlement, reduced costs, and greater control over liquidity.

The move underscores a broader trend among global banks experimenting with tokenisation to improve cross-border settlement efficiency. For Citi, extending CTS to Europe positions it to test real-time, multi-currency capabilities in one of the world’s largest liquidity hubs.

 

Honduras and Suriname partner with global firms on rainforest carbon credits

Honduras and Suriname have signed a Letter of Intent with Deutsche Bank, Bayer, Siemens and Symrise to develop a new class of sovereign Rainforest Carbon Credits aimed at protecting existing forests. The agreement, formalised at the opening of COP30 in Belém, Brazil, is part of efforts to mobilise private-sector finance for rainforest conservation under Article 6.2 of the Paris Agreement.

Working alongside the Coalition for Rainforest Nations (CfRN), both countries intend to issue high-integrity rainforest-based Internationally Transferred Mitigation Outcomes (ITMOs) that reward the protection of standing forests rather than reforestation. Deutsche Bank and CfRN have been mandated to arrange a potential sale, with Honduras and Suriname already making substantial investments to meet UNFCCC performance criteria.

The initiative could establish a new asset class within global carbon markets, allowing countries and corporates to purchase credits linked to verified forest protection. Participants stress that social safeguards will be central to the model, including respect for indigenous and forest-dependent communities, along with transparent auditing and monitoring of proceeds.

Unlike many existing nature-based carbon projects, this approach focuses on preserving large-scale national ecosystems. Honduran President Xiomara Castro said the partnership recognises the global value of the region’s biodiversity, noting that protecting such ecosystems requires sustained international financial support. Suriname’s foreign minister, Melvin Bouva, added that the country’s extensive forest cover, which is around 90% of its land area, makes it well placed to demonstrate how sustainable management can coexist with economic development.

For corporate participants such as Bayer, Siemens and Symrise, involvement provides an opportunity to help shape the design and governance of the credits from a buyer’s perspective. These companies are contributing feedback on safeguards and eligibility criteria to ensure alignment with climate and biodiversity goals.

The credits could eventually be traded under national emissions systems, provided buyers also maintain strong decarbonisation efforts across their operations. The signatories have extended an open invitation to other governments and corporates to join the initiative, describing it as a step toward integrating high-integrity rainforest protection into mainstream carbon markets.

 

Nomentia and BearingPoint partner on treasury transformation

Nomentia and BearingPoint have formed a collaboration focused on improving how corporates across Europe manage treasury operations. The partnership links Nomentia’s treasury and cash management technology with BearingPoint’s consulting experience in finance, risk and treasury process design.

BearingPoint has worked with corporates on treasury transformation projects for more than two decades, including system selection, digital maturity assessments and the alignment of cash, risk and liquidity management processes. The firm advises clients on integrating technology with governance standards and operational frameworks.

Nomentia’s software supports centralised cash and payment management, liquidity planning and risk oversight. Its platform connects with banks and enterprise systems to help treasurers consolidate visibility and automate daily workflows.

Through the collaboration, the two firms plan to offer joint projects where technology implementation is informed by consulting insight and process evaluation. The goal is to help treasurers address integration challenges between strategy, systems and operations.

Nomentia’s head of partnerships, Tapani Oksala, said the alignment allows both firms to “support corporate treasuries through strategic guidance and robust platform capabilities.” Alexander Odenthal, partner for corporate treasury at BearingPoint, added: “Clients benefit from a stronger bridge between strategy and system deployment.”

The partnership reflects a broader trend of consultancies and technology providers working together to meet growing demand for data-driven decision-making in treasury. Both firms said their combined expertise is intended to provide practical support for corporates looking to increase automation, transparency and control in cash and liquidity management.

 

AtlasFX launches tool to assess bank performance and FX costs

AtlasFX has introduced BankMinder, a new module within its foreign exchange risk management platform, aimed at helping corporate treasurers evaluate the cost and quality of their banking relationships. The tool is designed to improve transparency in FX execution and reduce transaction costs by turning relationship data into measurable performance insights.

BankMinder allows treasury teams to monitor FX spreads, wallet share, lending exposure and counterparty risk across their banking partners. The module provides benchmarking and analytics intended to show how execution quality aligns with the level of business allocated to each bank. According to AtlasFX, this approach is meant to encourage more objective decision-making and support data-driven discussions with financial counterparties.

The system provides continuous monitoring rather than periodic transaction cost analysis, allowing treasurers to adjust strategies as market conditions evolve. This includes assessing how bank performance compares with internal benchmarks and ensuring governance frameworks remain in line with best practices.

By integrating BankMinder into the wider AtlasFX platform, users can connect relationship management with existing tools for exposure forecasting, trade execution and risk oversight. The company says the module aims to help treasury teams link FX performance with overall banking strategy, offering a single view of transaction efficiency and counterparty management.

The launch reflects a broader trend among corporate treasuries toward data-led performance evaluation, as finance teams look to balance relationship value with measurable cost savings across global banking networks.

 

DBS expands Gen AI virtual assistant for corporate clients

DBS has rolled out its generative AI-powered virtual assistant, DBS Joy, to all corporate clients following successful trials earlier this year. The enhanced chatbot, developed in-house, is designed to provide 24/7 support through the bank’s digital platform, IDEAL, offering both automated and human-assisted responses.

Since pilot testing began in February, DBS Joy has managed more than 120,000 chats from around 4,000 corporate users, most of them small and medium-sized enterprises. The bank reports that customer satisfaction scores have risen by over 20% since the tool’s introduction, reflecting faster response times and greater convenience for clients.

The system integrates large language models with DBS’s internal knowledge base, enabling it to provide conversational, context-aware answers to banking queries. For more complex issues, users are routed to service specialists who receive AI-assisted guidance to deliver tailored support. Human evaluators continue to review responses to maintain accuracy and improve the model over time.

DBS said the virtual assistant is part of its broader strategy to apply generative AI across client and employee workflows. The technology supports staff with faster data retrieval and summarised recommendations, freeing time for higher-value work that requires human judgement.

The bank plans to expand the functionality of DBS Joy and roll out the service to additional markets, including Hong Kong and India. The initiative builds on DBS’s broader adoption of AI in its operations, which has been recognised by Global Finance, naming it the World’s Best AI Bank in 2025.

The expansion of DBS Joy reflects a wider industry shift towards AI-enabled banking tools that aim to balance efficiency with human oversight, as financial institutions seek to improve customer service while managing operational complexity.

 

Santander launches Navigator Global to support international expansion

Santander has launched Navigator Global, a digital-first platform designed to help businesses expand internationally by connecting them with verified partners, local experts, and real-time market intelligence. The service aims to make cross-border growth more accessible while reducing the risks typically associated with entering new markets.

Navigator Global combines digital tools with expert human support, offering tailored action plans, market insights, and access to a global network of over 250 verified providers. The platform helps companies identify regulatory requirements, understand local conditions, and connect with trusted partners. It also features events, webinars, and curated content to guide businesses through every stage of international growth.

The platform builds on Santander’s earlier UK-based Navigator service, which supported more than 2,500 firms between 2021 and 2025. The new version will be available in over 40 markets by the end of 2026, with launches in the UK and US taking place this month. In countries where Santander does not have a direct presence, the bank plans to work through partner institutions.

Research conducted by Santander and Navigator Global highlights the challenges businesses face when expanding abroad: 62% cite uncertainty around regulation and compliance, 58% point to the high cost of failure, and 54% struggle to identify reliable local contacts. Navigator Global is designed to address these barriers by providing a single, data-driven platform for planning, execution, and support.

Santander said the initiative reflects its commitment to helping companies of all sizes access new markets more confidently. By combining technology, expert advice, and global connectivity, Navigator Global aims to give firms clearer visibility and control over their international growth strategies.

 

QNB partners with TransferMate to enhance global collections

QNB Group has partnered with TransferMate to expand its global multicurrency collections and local account capabilities for corporate clients. The collaboration integrates TransferMate’s cross-border payments technology into QNB’s banking platform, allowing businesses to invoice and receive international payments in multiple currencies more efficiently.

Through the partnership, QNB customers will gain access to faster settlement times, lower transaction costs and improved transparency in reconciliation. The integration aims to simplify the management of cross-border receivables and strengthen cash flow visibility, particularly for corporates operating across several jurisdictions.

The initiative represents TransferMate’s first banking partnership in the Middle East, extending the reach of its global payments network. For QNB, the move supports its ongoing digital transformation strategy and reflects growing demand among regional corporates for seamless international payment solutions.

By linking QNB’s client base with TransferMate’s infrastructure, the partnership is designed to create a more connected payments ecosystem and improve the overall efficiency of global business transactions.