Commercial Credit

Deutsche Bank strengthens the high yield trading business in Europe

Thu, 02 Sep 2010 16:19:17 +0100

Deutsche Bank today announced a number of key hires to strengthen its already successful high yield trading business in Europe.

Bibby Financial Services Canada names Bobby Lall as managing director

Mon, 05 Jul 2010 17:27:11 +0100

Leading global business finance provider Bibby Financial Services has announced that its Canada team has been bolstered with the appointment of Bobby Lall as managing director.

If P&C Insurance renews IT outsourcing agreement with Tieto

Mon, 28 Jun 2010 16:24:43 +0100

If P&C Insurance has concluded a new five-year IT services agreement with Tieto as a one-stop supplier. The contract includes operations management services for If's IT systems in the Nordic countries.

Aspect joins newly launched Unified Communications Interoperability Forum

Tue, 25 May 2010 16:08:13 +0100

CHELMSFORD, MASSACHUSETTS - Aspect has announced its membership in the newly formed Unified Communications Interoperability Forum (UCIF), a non-profit alliance of worldwide technology leaders working together to fully realise the potential of unified communications. The UCIF is focused on enabling standards-based, cross-vendor interoperability of unified communications hardware and software across enterprises, service providers and is designed to help global organisations be more productive.&nbs ...

LCH.Clearnet SA becomes FSA authorised Recognised Overseas Clearing House

Tue, 25 May 2010 15:23:00 +0100

LONDON - LCH.Clearnet SA has been granted Recognised Overseas Clearing House (ROCH) status by the UK Financial Services Authority (FSA). Through this ROCH status, LCH.Clearnet SA is able to conduct any regulated activity in the United Kingdom which is carried out for the purpose of the provision of clearing services.

ICAP expands global enterprise data distribution via Thomson Reuters

Mon, 26 Apr 2010 11:43:20 +0100

Tokyo / London - ICAP (IAP.L) the world's premier interdealer broker today announced the expansion of ICAP’s global enterprise data distribution via Thomson Reuters to include key Japanese benchmark data from TOTAN-ICAP in Japan.

Aspect and Datapoint Ireland Announce Channel Reseller Agreement

Thu, 25 Mar 2010 17:01:59 +0100

STOCKLEY PARK - Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced it has a signed a new channel reseller agreement with Datapoint Ireland to expand its presence in the Irish contact centre market. Datapoint Ireland, an Irish-based systems integrator focused on the contact centre market, will be offering all of Aspect's unified communications applications for the contact centre that are powered by the AspectR Unified IPR and Performa ...

BNP Paribas announces Global Debt Syndicate changes

Wed, 24 Mar 2010 13:02:33 +0100

London - BNP Paribas Corporate & Investment Banking (‘BNP Paribas’) is pleased to announce strategic changes to the BNP Paribas Global Debt Syndicate platform. These will underpin the bank's commitment to the expansion of its Primary Market capabilities throughout the world across all currencies and instruments.

Aspect Appoints Steve Boakes as Channels and Partners Manager, Northern Europe

Wed, 24 Mar 2010 12:51:31 +0100

STOCKLEY PARK, London - Aspect, a global provider of unified communications (UC) and collaboration services and software, announces the appointment of Steve Boakes as channels and partners manager, Northern Europe.

Aspect Marks Two-Year Anniversary of Global Strategic Alliance and Equity Investment with Microsoft

Tue, 23 Mar 2010 16:57:17 +0100

ORLANDO - VoiceCon - Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced that it has marked the two-year anniversary of its global strategic alliance with Microsoft Corporation.

High Court orders seizure of Zeeman buses

Sun, 21 Mar 2010 23:07:26 +0100

SWAZILAND - The High Court yesterday gave Nedbank permission to seize two Zeeman’s buses over a E894 479 debt. ...

Access Bank gives K1.1bn to NAPSSF

Sun, 21 Mar 2010 22:03:43 +0100

ZAMBIA - ACCESS Bank Zambia has given K1.1 billion to the National Association for Peasant and Small Scale Farmers (NAPSSF) as support for farming inputs.

Credit Managers Index shows small growth in February

Sun, 21 Mar 2010 21:47:32 +0100

USA - The Credit Managers Index grew slightly in February due to growth in manufacturing and increasing optimism, which counteracted declines in other areas.

Aspect Celebrates One Year Phone-Free with Microsoft Office Communications Server

Fri, 19 Mar 2010 15:50:27 +0100

CHELMSFORD, Massachusetts - Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced its one-year anniversary of operating completely phone-free following its global implementation of Microsoft(R) Office Communications Server 2007 R2.

ESCP Europe UK director appointed to Banco Del Sud Italia committee

Thu, 18 Mar 2010 12:58:50 +0100

Professor Davide Sola, ESCP Europe Business School’s UK Director, has been named as a member of the prestigious Banca Del Sud Italia committee by the Italian government.

Worries over economy as credit lines dry up

Fri, 19 Feb 2010 16:11:42 +0100

NIGERIA - There seems to be no respite yet for the prostrate real sector of the Nigerian economy as fresh belt-tightening measures adopted by cash-strapped banks are taking a heavy toll on its operators.

SMMEs offer opportunities, challenges

Fri, 19 Feb 2010 11:58:55 +0100

GABORONE, BOTSWANA - Small, Medium and Macro Enterprises (SMMEs) play an important role in the development of the economy as well as providing employment, finance and development planning minister, Mr Kenneth Matambo, has said.

Tieto Corporation Interim Report

Wed, 10 Feb 2010 17:20:48 +0100

Tieto's interim report 4/2009 (January–December) and financial statements bulletin 2009 showed that the profitability improvement continued in the fourth quarter.

EDB supplies the budgeting model for the Norwegian national budget

Wed, 10 Feb 2010 16:31:32 +0100

OSLO - The Norwegian Government Administration Services agency (GAS) and EDB have entered into an agreement for the development and operation of Budmod, which is the model used to simplify the preparation of the Norwegian national budget. The agreement runs for one year, with an option to extend through to 2014.

Experian launches Hitwise Internet measurement service for France

Tue, 09 Feb 2010 15:35:55 +0100

LONDON - Experian, the global information services company, has further expanded its Marketing Services portfolio in Europe with the launch of Experian Hitwise in France. Experian’s Internet measurement service will help domestic and international marketers operating in France to improve their online marketing, content development, affiliate strategies and search tactics.

Credit managers cheer new economic data

Mon, 08 Feb 2010 12:19:42 +0100

USA - Manufacturers are starting to replenish their inventories and that’s a clear signal the Great Recession is ending, said the National Association of Credit Management this week.

Credit Managers' Index Economic Report Improves for January 2010

Mon, 08 Feb 2010 12:14:16 +0100

COLUMBIA, USA — The latest data is starting to turn in a decidedly positive direction; GDP numbers are the best in over a year and a half, suggesting that the recession is in clear retreat. After a mild recovery in the third quarter, numbers jumped 5.8% in the fourth. The bulk of this growth is attributed to manufacturers starting to replenish inventories, mostly since the beginning of December.

FRSGlobal enters 21st year trading - after another successful 12 months business

Thu, 28 Jan 2010 18:06:25 +0100

BRUSSELS - FRSGlobal, the only provider of risk and regulatory reporting solutions with coverage for 40+ countries on a unified platform, today announced that it signed 36 contracts in Q4 2009, bringing the total number of deals won last year to 94.

Credit index finds "mild progress" in economy

Wed, 13 Jan 2010 17:40:19 +0100

USA - Credit managers are a bit more optimistic going into 2010, but businesses in the Raleigh-Durham area can still expect to have a tough time getting credit, at least until the current surge in bankruptcies subsides.

OECD composite leading indicators continue to signal a recovery

Fri, 08 Jan 2010 11:36:16 +0100

OECD composite leading indicators (CLIs) for November 2009 provide stronger signals of recovery than in last month’s assessment.

Two new directors join Board of Tata Consultancy Services

Tue, 05 Jan 2010 11:28:35 +0100

MUMBAI, INDIA - The Board of Directors of Tata Consultancy Services (TCS), a leading IT services, business solutions and outsourcing firm, announced that it has appointed Vijay Kelkar, former Finance Secretary to the Government of India and Ishaat Hussain, Finance Director of Tata Sons to the Board of Directors of the Company with effect from January 5, 2010.

Firms prepare to restock as confidence in economic outlook grows

Tue, 05 Jan 2010 01:00:00 +0100

AUSTRALIA - Australian businesses are planning to start the New Year with a significant restocking of inventories as expectations of a strengthening economy fuel confidence about New Year sales and profits. In another positive sign for the economy firms are also reporting improved expectations for capital investment.

SCB to lend B100bn more amid optimism next year

Mon, 04 Jan 2010 13:04:19 +0100

THAILAND - Siam Commercial Bank aims to expand its loan book by 6% or 100 billion baht next year based on growing optimism about the overall economy, says president Kannikar Chalitaporn.

Most Irish firms cut payroll by 11% - survey

Mon, 04 Jan 2010 13:02:32 +0100

IRELAND - Seventy per cent of companies in Ireland reduced payroll by an average of 11 per cent in 2009, but the vast majority did not cut salaries, a new survey by Mercer has found.

Bulgarian economy hamstrung by inter-company debt - employer association

Mon, 04 Jan 2010 13:00:21 +0100

BULGARIA - The combined debt of Bulgarian companies, outside the financial sector, is expected to rise by 30 per cent in 2009, compared to the previous year, a trend that is expected to continue for a further two years, according to Bozhidar Danev, chairperson of the Bulgarian Industrial Association (BIA).

Simar Shipping Files Complaint Against Russian Crab Importer, Global Fishing, Inc.

Mon, 04 Jan 2010 12:51:39 +0100

SEATTLE, WASH. USA - Simar Shipping Limited just filed a USD $5.8 million complaint against Global Fishing, Inc., for Global’s alleged breach of a maritime contract to pay for Russian crab. Global Fishing, Inc., was once the largest importer of Russian crab into the United States, but that changed after the arrest of its President in Russia.

Coffee Farmers to Benefit From BRD's FRW4 Billion Loan

Mon, 04 Jan 2010 12:46:50 +0100

KIGALI, RWANDA — Coffee farmers in Rwanda will continue to receive financial support from Rwanda Development Bank (BRD) in form of loans with Rwf4billion available for farmers next season.

NBP says Shujaats textile mills defaulted on Rs300m loan

Mon, 04 Jan 2010 12:13:03 +0100

ISLAMABAD: The Chaudhrys of Gujrat seem to be getting into a thick bank loan default soup involving Rs 300 million as they have been accused of ‘stealing’ the pledged stocks for which the creditor bank is considering the option of lodging a criminal FIR against their textile mills and all its directors.

Armada in bankruptcy protection

Mon, 04 Jan 2010 12:00:10 +0100

Armada Shipping SA says it is protected from enforcement measures by creditors after it filed for bankruptcy. According to reports the Swiss-based dry-bulk company took the action after a deal to buy the company fell through.

Credit Managers Index shows positive trends

Wed, 16 Dec 2009 18:53:26 +0100

November marks the second month in a row that the Credit Managers’ Index (CMI) crested 50 and that mirrors the trends identified in the Purchasing Managers’ Index. The growth in credit availability remains a major concern in the business community as a whole and there are still some strong headwinds as far as the financial sector is concerned, but there is some renewed activity going into the Christmas season and that is construed as a good sign. ...

Survey Uncovers Business Leaders' Predictions for Economic Recovery;

Fri, 04 Dec 2009 15:31:10 +0100

This week, international trade credit insurer Atradius, based in Hunt Valley, MD, released its Global Economic Crisis Survey based on more than 3,500 interviews with executives and senior managers from companies in North America, Europe, Asia and Australia. The survey was designed to learn business leaders' views on current economic indicators, including:

CGI Announces Launch of CGI Enterprise Gateway®

Fri, 04 Dec 2009 10:08:01 +0100

CGI Group Inc., a leading provider of information technology and business process services, has announced the launch of CGI Enterprise Gateway®, a managed service that supports IT interfaces to third party services, helping clients significantly reduce overall costs and achieve greater efficiencies.

Trade Bank of Iraq joins Thomson Reuters world-class global foreign exchange trading service

Thu, 26 Nov 2009 10:22:12 +0100

Thomson Reuters today announced the Trade Bank of Iraq (TBI) will be the first bank in Iraq to connect to the international foreign exchange (FX) community using Thomson Reuters Dealing trading service. This deal reinforces Thomson Reuters strong position in the FX dealing space and further expands its global dealing community.

HML Wins Global Excellence Award for BPM Project

Wed, 25 Nov 2009 23:29:34 +0100

HML, the financial outsourcing provider, has won the Silver Award for Europe in the 2009 Global Awards for Excellence in Business Process Management (BPM) and Workflow.

UK companies look to future beyond recession as confidence continues to rise

Mon, 23 Nov 2009 17:22:24 +0100

Confidence among business professionals has improved in the last three months according to the latest Institute of Chartered Accountants' (ICAEW) UK Business Confidence Monitor (BCM).

CIT Group Files Bankruptcy, Seeks to Reduce Debt

Mon, 16 Nov 2009 13:18:06 +0100

CIT Group Inc., the 101-year-old commercial lender that saw its funding dry up in the credit crunch, filed for bankruptcy in an effort to cut $10 billion in debt following a failed debt exchange and U.S. taxpayer bailout.

Atlantic Fund Administration monitors US 1940 Act Compliance with MIG21 and LawCards

Thu, 12 Nov 2009 10:47:07 +0100

Princeton Financial® Systems (PFS), leading provider of accounting, compliance, data management and reporting solutions for the global investment industry, is pleased to announce that Atlantic Fund Administration, LLC (Atlantic) went live with PFS' MIG21 and the US 1940 Act LawCard® in less than ten weeks.

Clarity Systems Records Highest Revenues Ever in 2009, Continuing 12 Consecutive Quarters of Growth

Wed, 11 Nov 2009 10:54:30 +0100

New Solutions, new markets, a growing partner network and an expanding employee base highlight another successful year for Clarity.

LG advises Australian noteholders on Court of Appeal win under Lehman Dante programme

Tue, 10 Nov 2009 16:19:41 +0100

We are pleased to announce that the Court of Appeal has upheld the Chancellor's decision in another victory for the English law investing public in the set-piece battle being fought out by Lehman investors in the English High Court.

Bailiff Seizes Infringing Devices at Manufacturing Facility in Jena, Germany

Mon, 02 Nov 2009 17:54:09 +0100

AGA Medical Holdings, today announced that the German Regional Court in Düsseldorf, Germany has granted a preliminary injunction against the manufacture, possession and sale of the Figulla Flex occluders manufactured by Occlutech GmbH in Jena, Germany.

Barclays deal with European Investment Bank gives a boost to UK Further Education Colleges

Mon, 26 Oct 2009 10:34:13 +0100

Some 24 Further Education Colleges across the UK will benefit from lower cost finance comprising a total of £200 million to fund almost £1billion of capital projects, due to a loan facility made available following the signing of a new contract between Barclays and the European Investment Bank (EIB).

Irish small firms waiting 66 days for payment-Survey

Mon, 19 Oct 2009 12:18:46 +0100

Small businesses are waiting up to 66 days for payment according to a Small Firms Association (SFA) survey.

Credit Conditions Improve for US Manufacturers

Mon, 19 Oct 2009 12:12:45 +0100

Tightened credit conditions have hit manufacturers hard during the recession, yet recent improvements in credit availability may indicate that better financial health for the industrial sector is on the horizon.

Ingram brings on MoneyTech finance

Mon, 19 Oct 2009 12:03:18 +0100

Ingram Micro has joined forces with financing provider, Moneytech, to provide new credit terms to its reseller base.

Charles Mayhew MICM elected onto the FCIB European Advisory Council

Tue, 13 Oct 2009 10:53:47 +0100

Moreton Smith is proud to announce that Charles Mayhew MICM, a Director at Moreton Smith, one of the largest privately owned credit management solutions specialists, has been elected by the FCIB Board of Directors to the FCIB European Advisory Council for a three-year term beginning 2009.

Begbies Traynor Group plc and Mesirow Financial Consulting, LLC Announce Joint Venture

Thu, 08 Oct 2009 12:58:54 +0100

Begbies Traynor Group plc (BTG) and Mesirow Financial Consulting, LLC (MFC) today announced a joint venture - BTG Mesirow Financial Consulting – which becomes one of the largest insolvency and restructuring practitioners in the world.

Etihad Airways signs first deals in billion dollar programme back by export credit agencies

Fri, 02 Oct 2009 10:47:59 +0100

Etihad Airways, the national airline of the United Arab Emirates, has signed the first Export Credit Guaranteed transactions in a billion dollar aircraft financing programme for 2009 and 2010.

Princeton Financial Systems presents DVS Publisher Suite 3.0

Mon, 21 Sep 2009 13:15:57 +0100

Princeton Financial® Systems (PFS), leading provider of investment accounting, investment compliance, data management, performance measurement, and reporting solutions for the global investment industry, introduces version 3.0 of their DVS Publisher Suite.

Thomson Reuters Strengthens Asia-Pacific Leadership with Key Appointments

Tue, 15 Sep 2009 12:11:55 +0100

Thomson Reuters today announced the expansion of its leadership team across the Asian markets. These strategic appointments reflect Thomson Reuters continued commitment to hiring leaders with proven track records in the industry, deep local market knowledge and an international outlook.

CGI provides banks with improved working capital capabilities through new trade finance offering

Mon, 14 Sep 2009 16:49:50 +0100

CGI Group Inc., a leading provider of information technology and business process services, today announced the addition of accounts receivable and cash management capabilities within its global trade and supply chain platform, Proponix360£.

Agreement on the recapitalisation of servicing operations of the Crown Group

Mon, 14 Sep 2009 11:45:27 +0100

Crown Mortgage Management and Forum Partners have today announced an agreement involving the recapitalization of the servicing operations of the Crown Group. The agreed transaction, which is subject to regulatory approval, will result in the purchase of Crown’s servicing and mortgage co-investment operations from Crown Westfalen Bank with financing proceeds from an affiliate of Forum Partners, a global real estate investment management firm.

DebtX to Sell $788 Million in Loans

Fri, 11 Sep 2009 13:27:05 +0100

DebtX, the largest marketplace for loans, today announced that it will sell $788 million in loan participations in FDIC receivership from the failed Silverton Bank of Georgia.

Recovery arriving quicker than expected but activity will remain weak, says OECD

Fri, 04 Sep 2009 15:18:36 +0100

Recovery from the global recession is likely to arrive earlier than had been expected a few months ago but the pace of activity will remain weak well into next year, according the Organisation for Economic Co-Operation and Development's (OECD) latest Interim Economic Assessment.

Bank of Ireland provides 133mn for Silverfleet's acquisition of Kalle

Thu, 20 Aug 2009 10:05:49 +0100

Bank of Ireland today announces its role as Mandated Lead Arranger and Global Coordinator of a €133 million financing package for the acquisition of Kalle GmbH (“Kalle”) by Silverfleet Capital, subject to anti trust approval in Germany and Russia. The debt financing comprises €113 million of term debt and a €20 million revolving credit facility.

EU clears German export-credit insurance scheme

Mon, 17 Aug 2009 10:20:51 +0100

The European Commission approved on Wednesday a short-term export-credit insurance scheme adopted by the German government to limit the impact of the financial crisis on export companies.

LandSource Communities Emerges from Chapter 11

Sun, 16 Aug 2009 17:41:57 +0100

LandSource Communities Development LLC announced that it has emerged from Chapter 11 reorganization as Newhall Land Development LLC.

Plan to revamp Zarai Taraqiati Bank

Sun, 16 Aug 2009 17:35:31 +0100

ISLAMABAD: President Asif Ali Zardari has approved a plan to revamp the Zarai Taraqiati Bank Limited (ZTBL) to make it commercially viable and competitive for agriculture growth.

Italian firm buys into African trade insurance agency

Sun, 16 Aug 2009 17:24:14 +0100

Italian credit management company Sace has acquired a stake in African-owned development finance institution African Trade Insurance Agency (ATI) for $10-million.

£3 Million Investment For Tech Firms

Thu, 13 Aug 2009 13:08:12 +0100

Technology firms KeTech and Vamosa are the first to benefit from a government-backed fund providing vital investment to innovative small businesses.

Liechtenstein and UK agree package of measures to improve tax compliance

Wed, 12 Aug 2009 16:40:35 +0100

The OECD welcomes the announcement of a package of measures between Liechtenstein and the United Kingdom intended to ensure effective exchange of information for tax purposes between the two countries and to address the important issue of undeclared funds in a cooperative way.

KPMG Business Outlook Survey - EU manufacturing outlook turns positive in July

Mon, 10 Aug 2009 15:30:16 +0100

The summer 2009 KPMG Business Outlook Survey, which surveys over 3,700 manufacturing firms across the EU, shows returning confidence across the manufacturing sector, but sentiment remains much weaker than pre-crisis levels.

LG represents Australian noteholders under Lehman Dante Programme

Mon, 03 Aug 2009 12:16:35 +0100

A group of 29 Australian noteholders (the Belmont claimants) under the $2 billion plus Lehman sponsored Dante Notes Programme has secured a judgment in the English High Court against Lehman Special Financing Inc (LBSF) upholding the validity of provisions which provide for the subordination of swap counterparty claims in the event of the bankruptcy or default of the swap counterparty.

New Council and Officials for The Malta Association of Credit Management

Wed, 29 Jul 2009 11:23:50 +0100

Following the Annual General Meeting of MACM, the new council elected the new officials to manage the Malta Association of Credit Management for the coming two years (2009 – 2011).

Coface increases its estimate of the contraction in world growth despite some signs of stabilisation

Tue, 28 Jul 2009 09:33:50 +0100

Coface’s new growth forecasts published recently take into account a growth contraction of 6.6 points between 2007 and 2009. Coface projects the 2009 recession at -2.5% and sees growth recovering in 2010, settling at 1.7%.

Belgium makes progress implementing OECD standards on tax information exchange

Fri, 17 Jul 2009 16:36:20 +0100

In the past two days Belgium has signed protocols to its tax conventions with Luxembourg, Singapore, San Marino, and the Seychelles as well as a tax convention with the Isle of Man and a tax information exchange agreement with Monaco.

Multi-billion Euro BayernLB advisory mandate appointment

Thu, 16 Jul 2009 16:42:05 +0100

Cairn Financial Products Limited, the specialist credit asset manager, today announces its appointment to provide advisory services to BayernLB, in respect of the management and unwinding of its multi-billion Euro European asset-backed securities portfolio.

Aspect Appoints Mike Sheridan Executive Vice President of Worldwide Sales

Tue, 14 Jul 2009 18:53:05 +0100

Aspect, a unified communications (UC) solutions provider, today announced that Mike Sheridan has been named executive vice president of worldwide sales reporting directly to chief executive officer, Jim Foy.

Companies Are Failing to Keep Their Overseas Subsidiary Reporting in Good Shape

Fri, 10 Jul 2009 18:14:46 +0100

Companies across the globe are failing to maintain the required legislative and regulatory reporting requirements for their subsidiaries, according to TMF Group, (TMF) the world's leading independent provider of accounting and corporate secretarial services and Computershare Governance Services (CGS), the leading subsidiary governance software supplier.

Actis to invest US$244 million in Egypts Commercial International Bank

Fri, 10 Jul 2009 18:08:22 +0100

Actis, an emerging markets private equity specialist, is pleased to announce today that it has executed an agreement to invest US$244 million to acquire shares in Commercial International Bank, the leading bank in Egypt. Actis is acquiring 50% of the stake held by the consortium led by Ripplewood Holdings. The transaction makes Actis the largest single investor in CIB.

SEB ranked Best Trade Bank - Nordics & Baltics

Thu, 09 Jul 2009 16:59:48 +0100

SEB is ranked best trade bank in the Nordic and Baltic region according to recent Global Awards survey done by Trade Finance Magazine.

China YiBai Host the 2009 Chinese SMEs Investment and Financing Summit

Thu, 09 Jul 2009 16:28:40 +0100

China YiBai United Guarantee International Holding Inc. (Pink Sheets: CBGH; hereafter referred to as "China YiBai") staged the 2009 Chinese SMEs Investment and Financing Summit On June 27, 2009 ("Summit"), which could help SMEs develop financing.

CME Group Announces Latin American Commercial Incentive Program

Tue, 07 Jul 2009 17:38:26 +0100

CME Group, the world's largest and most diverse derivatives exchange, have announced a new Latin American Commercial Incentive Program that will enable Latin American-based commercial agricultural hedgers to receive discounted trading fees for electronic trading of CME and CBOT Agricultural products, scheduled to begin August 1.

Sweden: SEB survey shows business climate still weak but finances improving

Wed, 20 May 2009 10:02:14 +0100

Despite a deteriorating economic outlook driven by falling demand, Swedish financial officers are now less pessimistic than they were three months ago. While most respondents forecast lower profits this year, a turnaround is now expected in 2010. Any potential profitability improvements this year are expected to come from cost cutting and increased efficiency rather than volume increases and higher prices.

Commission fights late payments

Wed, 08 Apr 2009 17:45:01 +0100

Despite some improvements during the past years, late payments in commercial transactions between companies or between businesses and public authorities still happen in the EU.

P&A Receivables - directors change

Wed, 11 Mar 2009 09:55:58 +0100

The Directors of P&A Receivables Services are pleased to announce changes to their board. Jacky Cooper moves to take over a new role as director of performance management with specific responsibilities for developing the business infrastructure and the development and training of staff. Charles Bliss takes over the role of operations director.

SEK: increased demand for financing from the export industry

Fri, 20 Feb 2009 23:24:51 +0100

Despite a market situation characterised by liquidity crisis, SEK has remained able to offer Swedish export companies access to financing. The demand for financial solutions has grown during the year, increasing SEK's importance for the Swedish export industry.

Healthy profits for DnB Norway in 2008

Sat, 14 Feb 2009 19:53:11 +0100

DnB NOR achieved pre-tax operating profits before write-downs of NOK 5 573 million in the fourth quarter of 2008, an increase of NOK 1 937 million compared with the year-earlier period, which is the best quarterly financial performance ever. Profit for the period was NOK 1 943 million. The year as a whole showed strong underlying earnings in spite of a deep downturn in the global economy.

6th Annual Credit Management conference

Sat, 14 Feb 2009 19:40:27 +0100

On Thursday 19 March 2009, Financial Management magazine and Alex van Groningen are organising the 6th Annual Credit Management Conference in the NH Leeuwenhorst conference centre in Noordwijkerhout, Holland.

D&B Australia - latest survey

Tue, 10 Feb 2009 15:21:42 +0100

The latest D&B National Business Expectations Survey shows:

Kazakhstan banks start to fold

Thu, 29 Jan 2009 16:34:36 +0100

Newswires are reporting that leading Kazakh bank Alliance has been taken over by the state-owned Samruk-Kazyna fund, making it the first Kazakh victim of the crisis. Over the last two years the bank has grown at phenomenal triple digit rates by focusing on the retail end of the spectrum and catapulted itself into the top tier of banks.

OECD: trade flows weaken in third quarter 2008

Wed, 28 Jan 2009 11:25:05 +0100

Merchandise export volumes of the Group of Seven countries fell 0.2% in the third quarter of 2008 compared with the previous quarter, while import volumes rose 0.4%. On a year-on-year basis, import volumes fell 1.4% in the third quarter, the first decline since the third quarter of 2006. Exports rose 1.9%, their lowest growth rate since the third quarter of 2006.

ING Group: Michel Tilmant to step down as CEO

Mon, 26 Jan 2009 10:43:19 +0100

ING announced earlier this morning, that in light of the extraordinary developments over the past few months and given his personal condition, Michel Tilmant will step down from the Executive Board as of today. Michel Tilmant will be an advisor to the company until his retirement from ING on 1 August 2009.

New rules provide confidence for cross-border trade

Thu, 22 Jan 2009 21:39:28 +0100

The UK government has announced that it will implement a European Commission regulation that will provide confidence for cross-border trade.

Chinese economy - sharp decline

Wed, 21 Jan 2009 09:06:34 +0100

A raft of Chinese data is scheduled for release later this week and will provide further evidence of the economy's sharp downturn at the end of the year. This downward trend looks set to continue in coming months, supporting our view that Chinese growth will fall to uncomfortably low levels in 2009, and in turn implying that China will be unable to deliver meaningful support to the global economy or EM sentiment.

Will Sneden Joins Aon Consulting

Mon, 12 Jan 2009 18:37:01 +0100

Aon Consulting Worldwide, the global human capital consulting organization of Aon Corporation , today announced that Will Sneden was hired as senior vice president and Health and Benefits practice leader of the Carolinas.

Budget surplus of SEK 135 billion in 2008

Mon, 12 Jan 2009 13:35:39 +0100

The Swedish central government budget showed a surplus of SEK 135 billion in 2008. The large surplus is to a large extent explained by sales of government-owned enterprises. The sales of Vin & Sprit, Vasakronan and OMX totaled SEK 77 billion in 2008.

SEB ranked Best Nordic Trade Finance Provider

Mon, 12 Jan 2009 13:29:02 +0100

SEB is ranked best provider of trade finance services in the Nordic region overall, as well as in Sweden, Lithuania and Latvia according to a recent survey done by Global Finance publication.

Swedish National Debt Office considering new long-term bond

Fri, 19 Dec 2008 17:14:22 +0100

The Swedish National Debt Office is investigating the possibility of issuing a new long-term nominal government bond. The first issue may take place during the first quarter of 2009.

SEB awarded title Best Trade Finance Bank in the Nordic Region

Fri, 19 Dec 2008 16:49:14 +0100

SEB has won the title The Best Trade Finance Bank in The Nordic Region in the annual Trade Finance customer poll from the Global Trade Review (GTR) publication.

UK: Prompt payment code starts

Thu, 18 Dec 2008 17:43:38 +0100

The UK’s Secretary of State for Business (and former EU Trade Commissioner) Lord Mandelson) has launched a Prompt Payment Code to increase the speed of payments to smaller companies.

Directors may hide behind new EU law

Fri, 12 Dec 2008 00:00:00 +0100

New EU Regulations governing the chemicals industry could upset other industries by combining with new UK Government legislation to erode the quality and quantity of information available to businesses seeking to update their credit policy.

Amlin closes for news business