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SRC Business Ecosystem is enhancing the commodity trade between EU and New Silk Road




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The way we carry out transactions, nationally and internationally, is changing fast. After the commodity trade volumes declining during COVID-19, global trade is booming. Recently trading volumes have increased and commodity prices have been growing and many are talking about new commodities supercycle. This has put significant pressure into global supply chain, global shipping volumes and shipping costs have sky rocketed. The increase in global trade in commodities has been so large in recent months that many are comparing it into China growth fuelled supercycle during the 2000s, writes Colin Stevens.

The multi-commodity trading industry is already a complex global ecosystem with numerous stakeholders, intermediaries and banks operating together to make deals happen. Business deals are massive in value and happen very frequently; it’s a high volume, high-stakes industry. With 20 million or so containers afloat at any given time across the world’s oceans, transporting more than $20 trillion of merchandise over the course of a year, smoothly running supply chain and trade-finance processes are essential to keep things moving. The volume of cross border transactions has been growing steadily at 6% for years now, and the international payments industry alone is worth $200 billion.

The over-stretched global supply chain is now impacting to deliveries. Due to rapid growth in trade there is now shortage of shipping capacity and shipping containers, port congestion has become increasingly frequent and shipping industry is seeing the biggest jump in lost containers in seven years. More than 3,000 containers dropped into the sea last year, and more than 1,000 have fallen overboard so far in 2021. These are all causing major disruptions into global supply chain.


The over stretched global supply chain also ultimately impacts on end user companies who use raw materials produce finished goods. Since 1950`s global companies, as a part of their strategy to cut the production and supply chain costs have moved part of their manufacturing into lower cost countries such as China. Meanwhile, Europe has become increasingly place where final product assembly is taking place. This has significantly increased trade between Europe and China but also dependence to effective global supply chain. At the same time, global companies have adopted “just in time” methodology in order to reduce inventory and cash tied into working capital. The combination of complex global supply chain and lower safe stocks has made the global supply chain increasingly vulnerable for disruptions.

COVID-19 has also brought into attention the global supply chain vulnerabilities. We have seen that in supply chain delivery issues for medical devices and more recently raw materials to manufacture COVID-19 vaccine. Similarly, the global supply chain vulnerability is impacting the commodity trading industry. One key problem in the global supply chain is the lack of visibility where the goods are and when they are expected to arrive to final destination. Commonly end user companies have a six-week window during which the goods may arrive and meanwhile they do not know where their goods are and whether or not they will arrive in time. Further problem with soft commodities is that they often have limited shelf life and they have to be transported in certain temperature and humidity conditions to prevent damage to the goods. Today, there is little end user visibility and certainty that their products are transported in agreed conditions.

COVID-19 has also changed how companies can finance their global trade transactions. Over the year banks dominated trade finance and bank were the primary source of financing for trade transaction. Due to large trade transactions, banks traditionally lent money to traders or end users for six to nine months, while the physical goods moved from producer to the end destination. Over the years, however, banks become increasingly unwilling to lend money trade finance and recently during the COVID-19 epidemic, two major banks, BNP Paribas and ABN Amro have closed down their trade finance desks in Geneva, a major commodity trading hub. As a consequence, there is now shortage of liquidity providers to global commodity trade.


Traditionally trade finance transaction were largely handled by international banks, who had little insight and interest into physical goods. Meanwhile, global supply chain had large number of digitalisation projects which we disconnected and could not provide end-to-end visibility and traceability to the global supply chain. LGR Global is a FinTech and InsurTech company that was set up 2021 to integrate and digitalise the commodity trade between Europe and New Silk Road countries. By creating SRC business ecosystem, LGR global was able to integrate end-to-end global supply chain with trade finance and achieve higher level of interconnectivity and automation. When traditional banks after issuing Letter of Credit (LC) contract, reactively waited that the physical goods and all trade finance related documents have arrived before they started reviewing the transaction for payment. SRC business ecosystem on the other hand issues digital LC in blockchain and uses smart contracts to process and validate global supply chain documents as on going process. This allows detecting delivery discrepancies, document frauds and even container brake ins, fire or drop damages in real time. This is a major improvement to current practice where vast majority of trade finance documents are paper-based, moving from one country to another using 24-hour courier services. In fact, it is estimated that 4 billion pages of trade and trade finance documents are currently in circulation.

LGR Global has designed and developed a secure and controlled business environment that revolutionizes the way international trade is executed and realised. In SRC Business Ecosystem we are connecting global supply chain with trade finance and money movement to create multi-dimensional view of the trade. In our Ecosystem we are connecting buyers, sellers, traders, banks, insurance, shipping, freight forwarders, port authorities and government together in a secure ecosystem where transactions are fueled by SRC (Silk Road Coin). This allows us to reduce total transaction costs to all trading partners.

SRC Business Ecosystem is designed to provide traceability of goods, prevent damage and delays of goods delivery, digitalize document collection and validation, increase transparency, stimulate economic growth, and drastically improve money movement capacities in this exciting and fast-growing market. We use smart contracts that power the real time document validation and finance transactions, and digital twin scenario planning capabilities to better manage trading risk, provide better compliance and manage supply chain and trade finance disruptions when external conditions change. Quantitative and qualitative analysis dictates that at least 80% of relevant stakeholders within the trading commodity finance market will be primed to plug in and use the SRC business ecosystem.

LGR Global CEO Ali Amirliravi told this website: “The commodity trading and trade finance industries have shown us an appetite for next-generation, digital solutions. However, piece-meal applications simply don’t fit the bill – our SRC controlled business environment is a comprehensive solution that has been built from the ground up leveraging industry insights and market-leading technologies.”

The transformation from old manual paper based systems into digital can revolutionise how companies do global trade. While currently end user companies had hardly any visibility to their supply chain, and they have to have large safety stock to safeguard their production operations, which ultimately led to high working capital levels. In SRC business ecosystem end user companies can now better plan, monitor and manage their global supply chain with real time visibility and traceability, which helps them to reduce excess inventory and total working capital.

While currently, end user companies have little visibility or control over whether or not their food or other perishable goods were transported safe temperature and humidity conditions in the global supply chain which leads to high level of product wastage. In the SRC business ecosystem companies can plan, monitor and manage their perishable goods global supply chain and if there is disruption such as temperature or humidity level suddenly increasing, system automatically alerts the end user and freight forwarders, so the problem can be prevented. This will improve delivery certainty that goods arrive in given time and good conditions. This way companies can reduce product wastage, need for excess inventory which helps organisations to meet their sustainability targets.

From trade finance, supply chain finance and money movement perspective, when companies traditionally had to rely on international banks, and bureaucratic, highly costly, slow and unreliable service. In SRC business ecosystem, due to integration and partnerships, companies are able to better manage their supply risks, shipping risks, credit risks, currency fluctuation risks and compliance risks. They have also flexible access to liquidity and different banking instruments either directly from LGR or through pre-qualified trading partners in the SRC business ecosystem. This allows companies to improve their operating efficiency and reduce transaction risks and costs.

The are many benefits to both client company finance and global supply chain leaders. First, better end to end visibility allows better planning and management of global supply chain which again improves delivery certainty that the row materials arrive in time and in good conditions. This frees up liquidity, reduces excess inventory and working capital while better safeguarding against global supply chain disruption.

Second, by integrating trading partners in the SRC business ecosystem, the client companies are able to reduce and manage trading risks such as credit, market, operational, compliance and currency fluctuation risks. Furthermore, if e.g. goods are damaged during the transportation, buyer gets to know it in advance and the data from SRC business ecosystem can help insurance companies in claim processing.

Third, due to higher transparency and lower risk in the SRC business ecosystem, customer have access to more flexible, low cost supply chain finance that allows organizations to better manage their cash flow. Fourth, due to end-to-end global supply chain insight, organizations are now able plan and manage their global supply chain better towards sustainable development and environment impact goals such as reducing carbon footprint. Fifth, the SRC business ecosystem allows continuous improvement of companies global supply chain and trade finance operations by providing historical and benchmark data and suggestions for improvements.

 “While the pandemic has caused a lot of negative effects on the global scale, a potential positive impact is that it has made clear to the industry and the public at large that changes do need to be made to optimize processes and improve the overall functioning of international trade, trade finance, and cross-border money movement.”

Looking ahead to 2022 and 2023, the SRC Business Ecosystem is set to be extended with the creation of its FI liquidity, commodities and insurance marketplace and implementation of new products such as digital twin.


Betting software provider for a successful business



NuxGame is an iGaming solution and products provider offering new operators an opportunity to launch their casino/sportsbook website fast. The solution provides instant access to a wide range of casino and betting products, including a seamless wallet API, ready-made Turnkey platform, and sports betting engine. With NuxGame, you can start an online gambling casino in 48 hours. Operators have access to all essential features and the best products from top-rated providers. What's more, NuxGame partners with many well-respected game providers, allowing casinos to offer an impressive collection of games in their lobbies.

NuxGame Solutions

NuxGame has three leading solutions for those looking to start an online casino and sportsbook, as shown below.

  1. Turnkey

Turnkey is a high-class platform designed to offer a sleek modern gambling website in 48 hours. The ready-made solution allows aspiring casino operators to launch their platform with all required tools and features. Besides its quick setup, Turnkey offers all major games, providers, personalized branding, and a plethora of universal payment methods. The suite also features all crucial integrations, including sports betting software, video slots, live casinos, table games, video sports, etc.  All you need to do is to contact NuxGame, discuss the terms with the representative, and launch your platform.

  1. Seamless APIs

Operators will get either casino or sports betting APIs. A user-friendly dashboard connects NuxGame and the client's website, so you can easily add and remove features. The easy-to-use iFrame dashboard has various useful tools that allow managing the content fast and easily. For instance, operators can use the sports odds API to provide competitive odds, allowing players to start betting without any further action.

  1. Sport Engine

The NuxGame sport engine is a simple and easy-to-use solution that allows to add a sports betting module to your website or to launch a sportsbook of your own from scratch. It allows 100% customization and is ideal for operators of any scale - big well-established brands and private entrepreneurs who are only entering the betting market. You'll get a reliable core product that allows you to build a unique betting portal featuring pre-match fixed odds, live matches, multi bets (bet combinations), risk management, and brand control. Your players will also enjoy instant access to thousands of markets across popular sports like football, basketball, tennis, golf, hockey, etc.

NuxGame Products

The NuxGame a number of first-class iGaming products to the benefit of their clients. Below is an overview of the five major products we recommend you to use instead of building a website from scratch.

  1. Online Casino – NuxGame platform offers instant access to popular casino games. You can start offering video slots from top-rated providers, including classic fruit machines, jackpots, megaways, standard five-reel-themed games, and many more. In addition to slots, the solution features table games like blackjack, roulette, baccarat, and poker. You’ll get games from Habanero, Endorphina, Pariplay, Spinmatic, Pragmatic Play, Tom Horn Gaming, Playson, Boongo, 1X2, Platipus, Evoplay, Push Gaming, Yggdrasil, Relax Gaming, One Touch, and more.
  2. Sportsbook – NuxGame is widely recognized for its sport engine, which offers access to all types of sports betting. The online bookie solution comes with various tools and features for a memorable betting experience. Notable attributes include real-time data feeds on customers and bets, gambling management tools, quick integration, risk/odd management, and multiple payment methods. Players will have access to your sportsbook within 48 hours and will get access to betting on major worldwide tournaments and competitions.
  3. Live Betting – Live betting is an integral part of any online betting website. Most operators offer pre-match fixed odds and live betting for players looking to take advantage of fluid live odds. NuxGame has reliable live betting software that allows you to provide a complete sports betting experience. You'll get real-time odd adjustments to satisfy the growing demand for flexible in-game odds.
  4. Live Dealer Casino – Live dealer casinos offer players something closer to the classic land-based gambling experience, complete with real-life croupiers. NuxGame allows you to add the best live games from the most reputable studios in the industry. You can offer Live Blackjacks, Roulettes, Baccarat, and Poker. You’ll also get other popular live dealer products, such as Dream Catcher, Monopoly, Craps, Keno, Dice, and many more. The cutting-edge live dealer solution offers top-rated studios with HD quality streams, multi-camera, and intuitive player settings.
  5. Virtual Sports – Virtual sports have seen tremendous growth over the past few years. When there is no current real-life sport to bet on, your players can always look for something interesting in this section since life sports events are very frequent. NuxGame Turnkey comes with virtual sports software that offers RNG-based simulations of popular games, such as football, basketball, horse racing, and more. Unlike regular sports betting and eSports, virtual sports are available 24/7, which is a great benefit.

Advantages of NuxGame

The benefits of using NuxGame are quite straightforward, especially for operators looking to launch their gambling websites. Without solutions like Turnkey, you'd have to build everything from scratch and complete all required integrations, which is time-consuming, expensive, and overwhelming. Here are some advantages of using NuxGame for your gambling business.

  • Wide Range of Games - NuxGame has partnered with leading casino game developers such as Pariplay, Pragmatic Play, TVBet, Ezugi, Evolution, Golden Race, Habanero and many others. You’ll have an impressive game lobby with all the fan favorites (slots, blackjacks, roulettes, poker, live dealer, etc.).
  • Massive Sportsbook – The sports engine offers access to thousands of markets across all kinds of sports and major tournaments worldwide. You can feature bets on football, hockey, tennis, cricket, badminton, rugby, golf, racing, cycling, swimming, eSports, and more.
  • 24/7 Support – All NuxGame clients get support around the clock, so you can resolve any issue to give your players the best gambling experience. The solution also comes with a personal manager to help you navigate issues in real-time and an Amazon Cloud Infrastructure.
  • Fast Implementation – One of the top advantages of using NuxGame and Turnkey solution is the opportunity to implement your business within 48 hours. You’ll get a ready-made platform featuring sportsbook software, casino software, live betting software, virtual sports betting, and more.
  • Mobile-Friendly – The NuxGame solution and products are fully optimized for mobile efficiency and work across Android and iOS devices. You can launch a mobile-friendly casino and sportsbook compatible with modern phone browsers. The solution is also optimized within dedicated mobile casino apps.


NuxGame is an efficient solution for new entrepreneurs considering starting an online gambling/betting business. The solution offers a ready-to-launch platform ready to start accepting registrations and real money bets. It is also incredebly secure and features personal account managers and 24/7 customer support. Your players will have access to the best casino games and popular betting markets and sports.

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European Investment Bank

EIB strengthens global development focus and backs €4.8 billion new financing for energy, transport, COVID vaccines and business investment



The Board of Directors of the European Investment Bank (EIB) has approved plans to strengthen its global development engagement. It also approved €4.8 billion of new financing for 24 projects to support climate action, COVID vaccines and economic resilience, sustainable transport and education.

“In June the Council of Ministers asked the EU Bank to enhance its contribution to the Union’s development efforts through dedicated strategies, stronger presence on the ground globally, and better coordination with partners in a genuine Team Europe approach. Today we responded to the Council’s call by proposing the creation of a branch of the EIB focused on development finance, and the Board endorsed this proposal. As a result, the EU Bank will be able to make a stronger contribution to boosting Europe’s strategic autonomy, by placing more experts on the ground, and be a more effective partner for other multilateral and national development banks. And we will be in a better position to pursue our global ambition in terms of the fight against climate change,” said EIB President Werner Hoyer.

Strengthening EIB’s development impact


The EIB Board of Directors approved the bank’s proposal to set up a development branch to increase the impact of its activities outside the European Union. It underpins the EIB’s response to the call for action expressed in the “Council conclusions on the enhanced European financial architecture for development (2021)” adopted on 14 June 2021. Through its development branch, the EIB will reorganise its activities outside the European Union and increase its presence on the ground, developing more targeted strategies and services in close cooperation with partners.

The bank will reinforce representations outside the EU and create a number of regional hubs, intensifying complementarity and cooperation with Multilateral Development Banks, national Development Finance Institutions and local partners, in a Team Europe approach. The hubs will focus on thematic sectors, product competences and services that respond to the needs of the region in which they are located. The first regional hub, strengthening EIB work in East Africa, will be located in Nairobi.

A new advisory group will advise the EIB for its operations outside the European Union. It will include


EU development policy makers nominated by the Member States, the European Commission and the EEAS.

€2.2bn for climate action, clean energy and energy efficient homes

The EIB agreed new financing to increase wind and solar energy generation in Spain and Portugal, upgrade national energy networks in Poland and improve energy efficiency and cut heating bills in Hungary and Finland.

Targeted financing schemes to accelerate investment in small scale renewable energy and climate action projects in Austria and Poland, and across Latin America and Africa were also approved.

€647 million for COVID vaccine deployment, health and education

Building on the European Investment Bank’s backing for COVID vaccine development and deployment new programmes to finance purchase of COVID-19 vaccines for distribution in Argentina and across South Asia, including Bangladesh, Bhutan, Nepal, Sri Lanka and the Maldives were confirmed.

The Board decided to support the expansion of long-term care for disabled patients in the Netherlands, the roll-out of digital learning technology in primary and secondary schools and upgrading scientific research in Croatia was also agreed.

€752m for sustainable urban, regional, air and maritime transport

Tram passengers in the Slovak city of Košice and commuters in the Polish cities of Gdansk, Gdynia and Sopot, and across Moldova, will benefit from new EIB backed investment to modernise and improve transport links.

The Italian ports of Genoa and Savona will receive EIB financing to upgrade rail access and better protect the ports from flooding and more extreme weather through the construction of a new breakwater.

The EIB also agreed to finance the replacement and upgrade of air traffic control and navigation equipment to maintain safety and security standards in Hungarian airspace.

€500m for private sector investment and COVID-19 economic resilience

The EIB board also approved new financing programmes managed by local banking and investment partners to support investment by businesses across Spain, Poland and South East Asia facing COVID-19 challenges.

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its member states. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Overview of projects approved by the EIB Board.

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EU Reporter under attack



Last week an article in the publication Politico Europe alleged that EU Reporter had engaged in “EU lobbying dressed up as journalism” because our marketing literature says: “Use EU Reporter to influence”.

EU Reporter totally rejects this accusation of undercover lobbying, which was an attack by Politico Europe on a smaller but successful rival publication and its publisher.

We were given just hours to respond to these ill-founded accusations, mostly based on a trawl through stories we’ve published over the past ten years, to defend our well-earned good name.


To reassure our audience, we have asked the independent news monitoring organization NewsGuard, to monitor our output from now on, and to make its findings publicly available.

EU Reporter believes Politico EU’s attack on us is a cynical attempt to achieve market dominance, and invites our readers to view today’s Politico Brussels Playbook, which offers:

“POLITICO Media Solutions provides brands with the solutions to create, convene, and connect with power players. We create opportunities for brands to connect with our influential audience”


A case of people in glass houses throwing stones perhaps?

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