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Thursday, April 24, 2014
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Ex-Im Bank Supports Export of U.S. Aircraft for Food Security in Brazil

24/10/2013 12:26 (181 Day 22:29 minutes ago)

The FINANCIAL -- The Export-Import Bank of the United States (Ex-Im Bank) announced support for a seven-figure purchase of two new American agricultural aircraft by Jose Antonio Goncalves Viana, a soybean and corn agribusiness in Brazil.



The buyer is a repeat customer of Air Tractor Inc., an employee-owned small business manufacturer of specialty aircraft. For this transaction, Ex-Im provided a medium-term insurance policy that was designed to mitigate risk in export of capital goods, according to EX-IM BANK.

"We're pleased to support this sale to Brazil's food industry, where innovative U.S. products are being put to use," said Ex-Im Bank Chairman and President Fred P. Hochberg. "But the Bank's long-standing relationship with Air Tractor owes to its competitive products and success in keeping global customers. This transaction will help support jobs in Texas while increasing food production in Brazil," he added.


Air Tractor Inc. is headquartered in Olney, Texas, and employs 275 U.S. workers to build its aircraft and customized equipment such as sprayers.Since 1972, the Air Tractor product lines of agricultural and fire-fighting aircraft have been exported to six continents; for the past 18 years, the company has relied on Ex-Im Bank loan guarantees and insurance for worry-free exporting.In August, Air Tractor presented a previous Brazilian buyer with a bright yellow single-seat model AT-502B, the three thousandth aircraft to roll off the Texas production line.

"With the purchase of two new Air Tractor AT-502Bs, JAG Viana has improved its agricultural capabilities allowing them to be more efficient and productive with the production of soybeans and corn in Brazil. In addition to helping with food security, the sale and export of these two aircraft help create and sustain jobs on Main Street in Olney, Texas.The central link in making this deal possible and gaining these achievements is the Medium Term Credit Insurance product of the Export-Import Bank of the United States," said David Ickert, Air Tractor's chief financial officer.


The Bank's exposure to Brazil as of the end of fiscal year 2012 amounted to $3.3 billion, according to EX-IM BANK.



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“The former Yugoslav Republic of Macedonia”: presidential election and early parliamentary elections

23/04/2014 16:38 (18:17 minutes ago)

The FINANCIAL -- A 14-member delegation of the Parliamentary Assembly of the Council of Europe (PACE), led by Stefan Schennach (Austria, SOC), will travel to “the former Yugoslav Republic of Macedonia” from 25 to 28 April to observe the conduct of the presidential election (2nd round) and the early parliamentary elections, alongside observers from the OSCE’s Parliamentary Assembly and Office for Democratic Institutions and Human Rights (ODIHR), according to PACE.



Zurich identifies seven cyber risks that threaten systemic shock

23/04/2014 17:00 (17:55 minutes ago)

The FINANCIAL -- The recently published Zurich Cyber Risk Report, created in collaboration with the international think tank Atlantic Council, argues that cyber-risk management professionals need to look beyond their internal information technology safeguards to interconnected risks which can build up relating to counterparties, outsourced suppliers, supply chains, disruptive technologies, upstream infrastructure and external shocks, according to Zurich Insurance Company.


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