Commercial Credit

Bowles ratifies new EU law on statistics

Wed, 22 May 2013 17:36:35 +0100

Sharon Bowles MEP, Chair of the influential Economic and Monetary Affairs Committee in the European Parliament, has overseen the signing into law of ESA 2010, the European System of National and Regional Accounts, after a successful campaign to improve transparency in EU Member States´ statistics, and limit exceptions to the rules.

"Banking Union is a greater pooling of sovereignty than signing up to the Euro" - ...

Tue, 21 May 2013 14:50:18 +0100

Sharon Bowles MEP, who chairs the European Parliament’s Economic and Monetary Affairs Committee, today cautioned that the plans to hand over supervision of Eurozone banks to the ECB constituted a major pooling of sovereignty.

"EU must get tough on tax" says Sharon Bowles MEP

Tue, 21 May 2013 13:28:40 +0100

Ahead of tomorrow’s EU Summit in Brussels, the European Parliament has backed a common European strategy to combat tax fraud, evasion and havens.

The sky's the limit for air freight business

Tue, 21 May 2013 09:33:26 +0100

A Crawley-based air freight business has undergone a management buyout with the support of funding from Lloyds TSB Commercial Finance.

New Proposals to Change to IFRS Lease Accounting May Hinder Much-Needed EU Economic Growth

Thu, 16 May 2013 15:55:42 +0100

Brussels, 16 May, 2013 - After several years of re-considering proposals to change the international accounting standard for leases and rental transactions, the IASB and FASB have today released a revised draft standard for public comment.

Seeds of MENA Recovery Grow Stronger as We Head Into 2014, says S&P Capital IQ Equity Research

Wed, 08 May 2013 12:18:04 +0100

London, 8 May 2013 – 2014 is set to be the first year where a credible recovery from the global recession takes place, according to S&P Capital IQ Equity Research.

Sharon Bowles MEP comments on Funding for Lending Scheme extension

Wed, 24 Apr 2013 09:53:51 +0100

Commenting on today’s announcement that the Bank of England will extend the Funding for Lending Scheme until 2015, Sharon Bowes MEP said:

Japan is poised for expansion but must curb government debt, OECD says

Tue, 23 Apr 2013 12:11:35 +0100

Japan is poised for an economic expansion, but long-term growth prospects remain contingent on additional efforts to revitalise the economy and reduce unsustainable levels of public debt, according to the OECD’s latest Economic Survey of Japan <http://www.oecd.org/eco/surveys/japan-2013.htm.> .

Basel must not penalise trade - Sharon Bowles MEP

Thu, 18 Apr 2013 13:22:36 +0100

Liberal Democrat MEP Sharon Bowles, who chairs the European Parliament’s Economic and Monetary Affairs Committee, today called on the Basel committee on banking supervision to recognise the significant steps taken this week in the EU to alleviate the regulatory burden for trade finance, an issue Ms Bowles championed during negotiations.

Feminised companies a better investment, according to Human Resource Management Professor

Thu, 18 Apr 2013 13:12:08 +0100

Michel Ferrary, professor of Human Resource Management at SKEMA Business School, has revealed that investing in companies with management teams which consist of at least 35% women considerably improved investment performance during the recent financial crisis.

ABA to Congress: It's Time to Move from Good Intentions to Tangible Results for Community Banks

Tue, 16 Apr 2013 16:36:15 +0100

WASHINGTON – The American Bankers Association testified today on the critical steps that are needed to reduce community banks’ regulatory burden and assure our country has a healthy and vibrant community banking sector in the future.

ABA Offers Tips for Small Business Owners: Assessing Your Banking Relationship

Tue, 16 Apr 2013 16:31:09 +0100

WASHINGTON — Now that the 2012 tax season is in the rear-view mirror, it’s a good time for small business owners to reassess their company’s financial health and their relationship with their bank. The American Bankers Association offers the following tips to help small business owners enhance their current banking relationship or choose the best bank for their needs.

Strengthening EU banks to get Europe back on the path to growth and trade - Sharon Bowles MEP

Tue, 16 Apr 2013 11:44:23 +0100

Sharon Bowles MEP, Chair of the European Parliament’s Economic and Monetary Affairs Committee, today welcomed the vote in favour of the Capital Requirements Directive and Regulation, which implements Basel III - the international accord which sets global standards for banks - into EU law.

SCRLC launches tool to protect businesses from emerging global risks

Thu, 11 Apr 2013 13:12:11 +0100

With an increasing number of complex supply chain risks emerging across the globe - potentially costing organisations billions of dollars - the Supply Chain Risk Leadership Council (SCRLC) has published its first ever emerging risks report.

Bowles claims victory on new EU corporate transparency rules

Wed, 10 Apr 2013 15:24:42 +0100

Final agreement on greater corporate transparency was reached last night in Brussels with the completion of the last trialogue negotiations between the European Parliament, Council of Ministers, and European Commission.

Capital investment fades in a weak outlook to mid-year

Tue, 02 Apr 2013 10:41:56 +0100

Fewer executives are planning to make a capital investment in their business during the coming months, with investment expectations among Australian businesses fading in the lead-up to the middle of the year.

Linedata Finalises Acquisition of CapitalStream

Fri, 22 Mar 2013 12:55:19 +0100

Neuilly-sur-Seine, France, 22 March 2013 - Linedata, the global solutions provider for the investment management and credit finance communities, has finalised its acquisition of the CapitalStream business and launched a strategic partnership with HCL Technologies Ltd.

Study shows 1.5 million new jobs could be generated by the European internet economy

Thu, 21 Mar 2013 18:59:51 +0100

A new study published by Vlerick Business School in Belgium and carried out on behalf of IAB Europe has revealed that Europe has the potential to generate an additional 1.5 million jobs in the EU through the digital economy.

New Chair for Leaseurope Automotive Steering Group

Wed, 20 Mar 2013 17:53:26 +0100

BRUSSELS – 20 March 2013 – Leaseurope, the voice of the leasing and automotive rental industry at European level, is pleased to announce the appointment of John Lewis (UK) as the new Chair of its Automotive Steering Group (ASG) effective as of 6 March 2013 as per the decision of its Board of Directors.

Todays agreement on a bankers bonus cap will usher in a much needed culture change

Wed, 20 Mar 2013 12:31:56 +0100

Final agreement on a cap for bankers’ bonuses will be reached tonight in Brussels with the completion of the last trialogue negotiation between the European Parliament and European Commission.

Sharon Bowles MEP hails victory for making ECB accountable in historic agreement for a Banking Union

Tue, 19 Mar 2013 18:55:50 +0100

Speaking from Brussels today following the final negotiations on the Banking Union Sharon Bowles MEP, who chairs the European Parliament’s Economic and Monetary Affairs Committee, said:

ABA statement on events in Cyprus

Mon, 18 Mar 2013 16:33:51 +0100

James Chessen, chief economist of the American Bankers Association (ABA), comments on the latest events in Cyprus.

The Cyprus bailout deal is a disaster for EU rules and Single Market principles BOWLES

Mon, 18 Mar 2013 10:10:16 +0100

Sharon Bowles MEP, Chair of the European Parliament’s Economic and Monetary Affairs Committee, has said she is appalled by the Cyprus bailout, which includes ‘bailing-in’ some guaranteed deposits – i.e. swapping them for shares.

Bowles claims victory for transparency in European statistics

Wed, 13 Mar 2013 16:22:59 +0100

Sharon Bowles MEP, Chair of the European Parliament’s Economic and Monetary Affairs Committee, today welcomed the successful adoption of her report on European statistics.

NICE Proactive Compliance Suite for Consumer Protection to Mitigate Risk for Financial Instituitions

Wed, 13 Mar 2013 15:46:44 +0100

RA’ANANA, ISRAEL, March 12, 2013 – NICE Systems today announced the launch of its Proactive Compliance Suite for Consumer Protection, which helps financial institutions adhere to regulations and effectively respond to audits. The suite offers investigation and operational capabilities for managing compliance across the enterprise, including in the contact center, back office, and branch. It also enables companies to implement processes and policies to address future regulation ...

ASEAN growth momentum remains robust, while slowing in China and India

Mon, 11 Mar 2013 15:05:29 +0100

11 March 2013 – Overall growth momentum in ASEAN continues to show resilience despite ongoing global uncertainty, while that of China and India are slowing, according to the latest Asian Business Cycle Indicators (ABCIs).

SunGard Selects J.P. Morgan Clearing Corporation

Mon, 11 Mar 2013 12:42:14 +0100

March 11, 2013 – New York – SunGard is adding the ability for customers of its SGN Short-Term Cash Management multi-fund cash investment solution to access centralized custody and settlement services through J.P. Morgan Clearing Corp. The combination of SGN and J.P. Morgan capabilities will help provide cash investors with cost savings and operational efficiencies by accessing multiple fund providers through a single connection.

José Manuel González-Páramo appointed Chairman of European DataWarehouse

Thu, 07 Mar 2013 11:44:54 +0100

Frankfurt am Main, 7th March 2013 - European DataWarehouse (GmbH) (ED) is pleased to announce today that it has appointed José Manuel González-Páramo as Chairman.

Results of Leaseurope Index Survey for Q4 2012 just released

Tue, 05 Mar 2013 10:32:25 +0100

Brussels – The Leaseurope Index is a unique survey that tracks key performance indicators of a sample of 17 European lessors on a quarterly basis. This Q4 2012 is the eighth edition of the survey.

In 2012 Coface improved its results despite the crisis

Mon, 04 Mar 2013 11:47:14 +0100

"In 2012, Coface achieved good results: we succeeded in combining profitability and growth in the difficult context of a Europe still in crisis. Our claims and costs are under control. The support offered to our customers has been the driver of our commercial activity. We continue to make their exchanges safer through innovative solutions," commented Jean-Marc Pillu, Chief Executive Officer of Coface.

TriOptima compresses Irish Bank Resolution Corporation CDS trades

Mon, 04 Mar 2013 11:04:46 +0100

New York / London – March 4, 2013 TriOptima announces that it held compression cycles for both the subordinated and senior debt-related single name credit default swaps (CDS) of the Irish Bank Resolution Corporation Limited following a bankruptcy event on 7th February. The Resolution Corporation was created by the court-mandated merger in July 2011 of Anglo Irish Bank and the Irish Nationwide Building Society. Over 70% of the notional principal outstanding of subordinated debt ...

Oakwood appointed as standby servicer on Irish loan portfolio

Thu, 28 Feb 2013 11:04:38 +0100

Financial services outsourcer Oakwood Global Finance LLP has been appointed as standby servicer on a portfolio of corporate and commercial loans in Ireland.

ABA Statement on FDIC Bank Earnings Report

Tue, 26 Feb 2013 19:42:45 +0100

James Chessen, American Bankers Association (ABA) chief economist commented: “It was another strong year for the banking industry, which showed significant improvement in every category from strong loan growth to improving asset quality. A strong banking system and a growing economy go hand in hand. Going forward, there are questions as to how the sequester will impact the banking industry. All businesses, including banks, will suffer if the economy slows dramatically because ...

"Time is right for greater transparency in global banking" - Sharon Bowles MEP

Mon, 25 Feb 2013 15:50:33 +0100

Sharon Bowles has sent a joint letter* today to the 27 Finance Ministers across the EU calling on them to force banks to reveal how much tax they pay, what their turnover is and what their profits are in each country in which they operate. This is part of the ongoing discussions on the Capital Requirements Directive in the European Parliament which seeks to ensure stricter transparency for banks as well as to implement Basel III bank capital rules.

BIAN community delivers Service Landscape 2.0 bringing core banking interoperability one step closer

Tue, 19 Feb 2013 16:40:39 +0100

19 February 2013 – BIAN, the Banking Industry Architecture Network, today announces the launch of its new Service Landscape, version 2.0 (‘SL 2.0’). The BIAN Service Landscape represents a step forward for common standards within retail banking. This latest Service Landscape provides 63 Service Domains (25% more than expected with this version) and 39 business scenarios, providing a blueprint of these building blocks of core banking systems, for use by banks, technology v ...

Crown Mortgage Management wins new £40 million bridging portfolio standby deal

Mon, 18 Feb 2013 11:39:56 +0100

UK mortgage servicer Crown Mortgage Management has won a £40 million standby deal for a bridging portfolio on a mixed residential and commercial book.

Firstsource reports Third Quarter Fiscal 2013 revenues of $ 130 million

Fri, 15 Feb 2013 18:36:30 +0100

Mumbai, February 14, 2013: Firstsource Solutions Limited (NSE:FSL, BSE:532809), one among India’s leading Business Process Outsourcing (BPO) companies reported its consolidated financial results for the quarter ended December 2012 according to Indian GAAP.

Newgate Brussels announces strategic partnership on dp policy with regulatory strategies limited

Thu, 14 Feb 2013 21:44:22 +0100

The Brussels office of Newgate Communications has announced a strategic partnership with a leading UK-based data protection consultancy, Regulatory Strategies Limited, to help organisations navigate the revision of the EU’s data protection regime, now underway.

Leaseurope welcomes the Association of Lithuanian Banks as its newest member

Wed, 13 Feb 2013 18:08:51 +0100

BRUSSELS, 12 February 2013 - Leaseurope, the trade body representing leasing and automotive rental at European level, is pleased to welcome the Association of Lithuanian Banks (LBA), acting on behalf of its Leasing Committee, as its newest member. That brings the number of members of the Federation to 44.

Falcon Private Bank extends sponsorship agreement with Scuderia Toro Rosso

Tue, 05 Feb 2013 10:30:43 +0100

Zurich, Switzerland, February 5, 2013 - Swiss wealth management specialist Falcon Private Bank and the Scuderia Toro Rosso Formula One(TM) team are pleased to announce the extension of their current sponsorship agreement for the third consecutive year.

Sanoma selects BWise Internal Control and Internal Audit for Increased Efficiencies

Thu, 24 Jan 2013 14:48:09 +0100

New York, NY, ‘s-Hertogenbosch, Netherlands, January 24, 2013 – BWise, a NASDAQ OMX company and a global leader in Governance, Risk Management and Compliance (GRC) software, announced today that it was selected by Sanoma Corporation, a leading European consumer and learning media group. The company selected BWise to support it with their internal control and internal audit processes. With the BWise GRC Platform in place for internal control and internal audit, Sanoma is able t ...

Banks rip-off investment fees must stop says Euro MP Sharon Bowles

Mon, 14 Jan 2013 15:46:05 +0100

Sharon Bowles MEP, who chairs the European Parliament’s influential Economic and Monetary Affairs Committee, has expressed alarm over reports of potential ‘rip-off’ investment fees by high street banks.

Commission Delegated Regulations on OTC derivatives, central counterparties and trade repositories

Wed, 09 Jan 2013 12:15:05 +0100

On 19th December 2012, the European Commission adopted six Delegated Regulations under Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR regulation), based on draft regulatory technical standards submitted by the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) in September 2012.

Industrial producer prices down by 0.2% in both euro area and EU27 November 2012

Mon, 07 Jan 2013 13:17:32 +0100

In November 2012, compared with October 2012, the industrial producer price index fell by 0.2% in both the euro area2 (EA17) and the EU272, according to estimates from Eurostat, the statistical office of the European Union. In October3 prices rose by 0.1% in both zones.

UBS fined £160 million for significant failings in relation to LIBOR and EURIBOR

Wed, 19 Dec 2012 09:53:19 +0100

The Financial Services Authority (FSA) has fined UBS AG (UBS) £160 million for misconduct relating to the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR). This is the largest fine ever imposed by the FSA.

Remium outsources securities management system to Tieto

Wed, 19 Dec 2012 09:38:25 +0100

Improved risk management, better cost control and greater focus on the core business - that's what made stockbroker Remium select Tieto's comprehensive service for securities management. The agreement will run for three years.

SunGard Identifies Ten Trends in Managed Services and Outsourcing in 2013

Mon, 17 Dec 2012 17:44:24 +0100

December 17, 2012 – New York, NY – Kalpesh Master, managing partner for managed services, SunGard’s global services business, said, “As cost pressures and regulatory requirements continue to challenge financial institutions’ and corporations’ ability to grow revenue, they are looking to trusted outsourcing providers for additional managed services. This is particularly true in relation to back-office functions, as well as areas that do not contribu ...

CGA and Air France sign factoring deal

Wed, 12 Dec 2012 14:41:36 +0100

CGA, Societe Generale’s French factoring subsidiary, has finalised in December a deal to provide factoring services to Air France. Through close dialogue and cooperation, CGA was able to tailor their services to suit Air France’s needs, offering non-recourse factoring up to an agreed amount of EUR 250m.

Libor and Euribor settlements should be paid into the public purse Bowles

Tue, 11 Dec 2012 10:09:02 +0100

The Chair of the European Parliament’s Economic and Monetary Affairs Committee, Sharon Bowles MEP, has said that settlements agreed between banks and regulators over the Libor and Euribor scandals should be paid into the public purse to help reduce deficits.

Retail FX comment from FOREX CLUB on the uncertainty surrounding the US economy

Wed, 05 Dec 2012 16:19:16 +0100

Commenting on the uncertainty surrounding the US economy, Andrey Dirgin, Head of Research at FOREX CLUB said:

One in five European businesses unaware of SEPA Direct Debit

Tue, 04 Dec 2012 16:59:56 +0100

LONDON, UK, 4 December 2012 – One in five European businesses (21%) issuing debits is unaware of Single Euro Payments Area (SEPA) direct debits, finds a study from Steria, a leading provider of IT-enabled business services, prepared in collaboration with international strategy consulting firm Edgar, Dunn & Company (EDC). The report, based on an extensive survey of 300 businesses with 250 to 5,000 employees in France, Germany and the UK shows that organisations risk missing out o ...

Tackling tax avoidance begins with adopting EU transparency proposals now - Sharon Bowles MEP

Tue, 04 Dec 2012 13:09:52 +0100

Sharon Bowles MEP, who chairs the European Parliament’s Economic and Monetary Affairs Committee, has called on finance ministers to accept the Parliament’s proposal for country-by-country reporting.

TriOptima and four SGX members complete first portfolio compression cycle in Singapore clearinghouse

Tue, 27 Nov 2012 13:12:59 +0100

Singapore/ London/ New York - TriOptima announces that four SGX member banks successfully eliminated more than 82% of the SGD interest rate swaps they wanted to terminate in the first SGX triReduce portfolio compression cycle. The four participants, including two local institutions, reduced notional principal outstanding by $25billion SGD in the inaugural compression cycle for cleared trades.

SunGard Identifies Ten Trends Transforming the European Financial Services Industry

Wed, 07 Nov 2012 16:53:35 +0100

 November 7, 2012 — London – Peter Banham, head of strategy for SunGard’s capital markets business, said, “The European financial services industry is at a crossroads. Potential new regulations coming onto the statute books are causing institutions of all types to make fundamental changes to their business models. The eurozone remains under intense economic pressure; however, European countries outside of the developed EU economies are growing and are looking ...

SunGard's AvantGard Treasury and Payments Solutions and Services Earn SWIFTReady Labels

Tue, 30 Oct 2012 10:25:08 +0100

October 30, 2012 — Osaka, Japan – Demonstrating SunGard’s commitment to enabling efficient corporate to bank connectivity via the international SWIFT network, SunGard’s AvantGard solutions and services have earned a total of six SWIFTReady labels in 2012.

Todays vote will make financial markets safer for consumers - Bowles

Fri, 26 Oct 2012 11:38:30 +0100

Sharon Bowles MEP has congratulated her colleagues for joining her in pushing for stronger investment protection rules and tighter regulation on commodity derivatives in the Markets in Financial Instruments Directive, voted today by the European Parliament.

Bottomline Technologies Enables Dutch Vita Group sites to Transform Document Management

Thu, 25 Oct 2012 17:30:57 +0100

Growing numbers of businesses are looking to improve the management and control of transactional documents, from inbound invoices to outbound packing lists. For Caligen Europe, based in Breda, The Netherlands, and its sister companies Draka Interfoam in Hillegom and Radium Foam in Maastricht, the combination of recessionary pressure and a consolidation of finance functions prompted a complete overhaul of inbound and outbound document management.

Banking Union is fast becoming Banking Union Lite - getting the taste without the commitment

Tue, 23 Oct 2012 16:43:00 +0100

Speaking in the European Parliament today, Sharon Bowles MEP, who chairs the Parliament’s Economic and Monetary Affairs Committee, denounced any “Banking Union Lite” and questioned the need to rush given that it will not lead to recapitalisation of Spain's banks.

SunGard Makes its Business Process Management Suite Available For Open Source via Eclipse Foundation

Tue, 23 Oct 2012 15:46:23 +0100

New York, October 23, 2012 – SunGard’s Infinity Process Platform is now available from the Eclipse Stardust project, an open source business process management (BPM) suite designed to help improve the infrastructure behind many of the finance industry’s key operations.

SunGard's AvantGard Receives Four Awards from Treasury Management International

Tue, 16 Oct 2012 17:20:23 +0100

October 16, 2012 — New York, NY – SunGard’s AvantGard has been recognized by Treasury Management International (TMI) in the publication’s annual awards. In an online poll of TMI readers, SunGard’s AvantGard received awards in four categories: Cash & Working Capital, Customer Services, Receivables and Back Office & Accounting System.

European bank deleveraging to take at least a further five years

Thu, 11 Oct 2012 00:01:00 +0100

A new banking report from Deloitte, the business advisory firm, highlights the huge challenges European banks face in deleveraging to improve their capital positions.

BIAN research illustrates banking communitys confidence in SOA as future of banking IT

Wed, 10 Oct 2012 13:16:14 +0100

BIAN, the Banking Industry Architecture Network, has released a new report looking into the attitudes of the banking community towards the adoption of Service Oriented Architecture (SOA) in financial IT systems.

FICO Survey: U.S. Bankers Say Small Business Lending on the Rise

Tue, 09 Oct 2012 17:54:20 +0100

London - October 9, 2012 - In FICO’s quarterly survey of bank risk professionals, bankers expressed optimism that lending for small businesses would accelerate over the next six months. By more than a two-to-one margin, respondents said that both the approval rate for small business loans and the total amount of credit extended to small businesses would increase rather than decrease, and more than half of all respondents predicted the overall supply of small business credit would me ...

EUs new growth plan misses value of retail

Wed, 03 Oct 2012 16:35:49 +0100

The EU is right to see achieving a genuine single market as key to economic growth but wrong to regard retail only as a sector that needs more regulation.

Sharon Bowles MEP supports Committee position on EU financial market reforms

Thu, 27 Sep 2012 18:07:27 +0100

Sharon Bowles MEP has given her support to the reports on MiFID and MiFIR being voted on yesterday in the Economic and Monetary Affairs Committee (ECON), saying while they may not be perfect yet, it is a good step forward in the cleaning up of financial trading and a boost for investor protection.

Euro MP Sharon Bowles hails tough new rules on corporate transparency

Tue, 18 Sep 2012 17:40:22 +0100

The European Parliament's Legal Affairs Committee has today voted through tough new amendments to the EU's Transparency and Accounting Directives, ensuring that certain industry sectors can no longer continue to hide profits made in the developing world.

ECB governing council meeting: Reaction from Sharon Bowles MEP

Fri, 07 Sep 2012 15:27:52 +0100

Sharon Bowles MEP, Chair of the European Parliament’s Economic and Monetary Affairs Committee, issued the following statement after the governing council meeting of the ECB. Welcoming the decisions taken as a step in the direction of saving the Euro, Ms Bowles also noted that the reforms must be continued because the ECB’s actions alone are not enough and do not come without cost.

ECM launches senior secured fund

Thu, 06 Sep 2012 12:39:53 +0100

(LONDON, 05 September, 2012) – ECM Asset Management Ltd (‘ECM’), the US$9.0 billion specialist fixed income and credit manager owned by Wells Fargo, has launched a senior secured fund that will invest in loans and bonds, the first time the company has managed the two asset classes exclusively together in a single fund.

Raghuram Rajan named Indias Chief Economic Adviser

Thu, 30 Aug 2012 16:19:20 +0100

Raghuram Rajan, a professor of finance at the University of Chicago Booth School of Business, has been named the Indian government’s Chief Economic Adviser, the school announced today.

Euro expected to rise to $1.27 by the end of September 2012

Thu, 23 Aug 2012 15:09:11 +0100

Speaking at recent conferences in Stavropol and Pyatigorsk, Andrey Dirgin, Head of Research FOREX CLUB Group of Companies, said he expected the Euro to strengthen to $1.27 in September. The conferences, held by FOREX CLUB to give insights and information on major economies and the FX markets, attracted institutional and regional investors.

FICO Announces Plans to Acquire Adeptra

Fri, 17 Aug 2012 13:28:20 +0100

Will Lansing, chief executive officer of FICO, reports: "Today we announced our plans to acquire Adeptra, a leader in cloud-based customer engagement and risk intervention solutions based in Reading, UK, and Norwalk, Connecticut. The transaction is expected to be completed next month.

Survey Finds Large Chinese Financial Institutions Need to Improve Risk Management

Tue, 14 Aug 2012 17:11:03 +0100

SHANGHAI, Aug. 14, 2012- Competition from within the industry and a more complex financial environment now outweigh regulatory factors as key considerations for risk management at large financial institutions in China, according to a survey by analyst firm, Celent, sponsored by SunGard. Celent conducted in-depth interviews with risk managers from large Chinese banks, securities firms and asset management companies. The survey revealed that only 11% of large financial institutions be ...

Sharon Bowles MEP welcomes ECB pledge to preserve Euro

Thu, 02 Aug 2012 17:04:14 +0100

Commenting on the ECB announcements today following the Governing Council meeting, Sharon Bowles, Chair of the European Parliament's Economic and Monetary Affairs Committee welcomed the reconfirmation that the ECB would do 'whatever it takes' to preserve the Euro as a stable currency. She said:

ICAEW on SEC staff report on IFRS

Thu, 19 Jul 2012 10:37:34 +0100

Commenting on the US Securities and Exchange Commission’s (SEC) final staff report on International Financial Reporting Standards (IFRS) in the United States, published Friday, Dr Nigel Sleigh-Johnson, Head of ICAEW’s Financial Reporting Faculty, said:

Princeton Financial Systems Hires DVS Product Director

Mon, 09 Jul 2012 17:26:44 +0100

PRINCETON, July 9, 2012 Princeton Financial® Systems, a global leader in providing accounting, compliance and reporting solutions to the investment industry, today announced the hire of Frank Gärtner as DVS Product Director. Based in Frankfurt, Mr. Gärtner will oversee global initiatives of the DVS Fund Warehouse and DVS Publisher Suite.

Euro MP calls on UK Government to support deal on European Patent Court

Thu, 28 Jun 2012 09:53:46 +0100

Liberal Democrat Euro MP Sharon Bowles, who chairs the European Parliament's Economic and Monetary Affairs Committee, has today called on the UK Government to support a proposed deal on the location of the new European Patent Court.

SunGard - Economist Intelligence Unit Survey Shows Institutions Need a Firmer Grasp on Volatility

Thu, 28 Jun 2012 09:51:31 +0100

June 27, 2012 – London – A majority of bankers, insurers and asset managers, as well as finance executives at non-financial companies, consider their organizations to be vulnerable to exceptional or sudden swings in volatility, according to a global survey conducted by the Economist Intelligence Unit for SunGard.

Central banks' posting of collateral, Round 2 comments by Sharon Bowles MEP

Tue, 26 Jun 2012 13:05:28 +0100

Sharon Bowles MEP, who chairs the European Parliament’s Economic and Monetary Affairs Committee, welcomes the announcement by the Bank of England that they will no longer ask for a special exemption when it comes to certain derivative transactions that it enters into on behalf of the UK. Central banks often enter into such transactions in order to manage their balance sheets and foreign exchange reserves.

Emerging market banks: towards normalization?

Tue, 26 Jun 2012 11:16:10 +0100

The crisis has put the ambitions of emerging country market under stress, leading them to slow the pace of banking network expansion. Aside from increasing the number of branches, banks are more and more relying on “reverse” innovation and multi-channel banking strategies.

SunGard and Sentenial Identify Ten IT Trends Created by the Approaching SEPA Deadline

Tue, 26 Jun 2012 11:08:07 +0100

June 26, 2012 — London – With the legally-binding SEPA (Single Euro Payments Area) implementation deadline now set as February 1, 2014, SunGard and Sentenial have identified ten IT trends that can help corporate treasurers understand the impact of SEPA and how a comprehensive solution can help them reduce banking fees, lower processing costs, and increase automation.

Azule moves into Irish market with Avid ISIS 5000 deal for Egg Post Production

Fri, 22 Jun 2012 15:35:11 +0100

Datchet and Dublin, 22nd June 2012: Leasing specialists Azule Finance have announced their return to the Irish market providing finance options for broadcast and post-production companies in Ireland for the first time since 2008. Azule's latest deal in the Irish market is with Dublin-based Egg Post Production, financing an Avid ISIS 5000 media storage solution to support the company’s expansion and meet increased demand from its customers for file-based production. ...

EU member states want to continue hiding debts Bowles

Thu, 21 Jun 2012 11:01:15 +0100

This morning the European Parliament suspended trialogue negotiations with member states on legislation regarding the disclosure of information of national and regional public accounts.

MEPs vote through tough new rules on corporate transparency

Tue, 19 Jun 2012 18:15:30 +0100

The European Parliament’s Economic and Monetary Affairs Committee has today voted through amendments to the EU’s Transparency and Accounting Directives, making it harder for big multinational companies to hide profits made in the developing world.

Over-the-top executive pay increases must stop Bowles

Tue, 12 Jun 2012 14:57:02 +0100

Sharon Bowles MEP, who chairs the European Parliament's Economic and Monetary Affairs Committee, has criticised some FTSE 100 bosses for demanding ‘over the top’ pay increases at a time of austerity.

Nordea Bank Chooses BancTecs GIRO Processing Solution

Mon, 11 Jun 2012 12:47:41 +0100

STOCKHOLM (June 11, 2012) — BancTec, a global leader in business process outsourcing (BPO) for financial transaction automation and document management, has been selected by Nordea Bank to provide GIRO processing for its Swedish operations as a fully outsourced service. After an extensive evaluation process, Nordea selected BancTec for a five-year contract that will begin in 2014.

"Crisis resolution - both comedy and tragedy" Sharon Bowles MEP

Wed, 06 Jun 2012 16:55:08 +0100

Following the publication today by the European Commission of the Bank Crisis Management Directive, Sharon Bowles MEP, who chairs the European Parliament’s Economic and Monetary Affairs Committee, welcomed the long overdue proposals but fears current events may take over.

Portuguese Bank Millennium bcp Automates 91% of Retail Banking Decisions Using FICO Solutions

Thu, 31 May 2012 16:03:31 +0100

MADRID — May 31, 2012 – FICO, the leading provider of analytics and decision management technology, today announced that its solutions have enabled Portugal’s largest privately owned bank, Millennium bcp, to standardize its decision-making processes. Using FICO analytics and software, the bank has increased automated loan decisions from 8% in 2000 to 91% in 2012, significantly improving customer relationships and driving business growth. Millennium bcp today automa ...

Solidarity in the EU must mean using collective strength to 'help struggling countries'

Wed, 30 May 2012 16:26:10 +0100

"The European Central Bank must respond to demands from electorates across Europe to deploy the necessary economic and monetary resources to resolve the on-going problems with the Euro and to restore confidence", says GMB.

Business powers up for growth with debtor insurance

Wed, 30 May 2012 13:03:19 +0100

A Berkshire-based electrical contractor is on track to increase turnover by 20 per cent this year, despite a customer bad debt of almost £100,000, after utilising a debtor insurance policy from Lloyds TSB Commercial Finance.

Tieto delivers IT on tap to Dina Försäkringar insurance company

Thu, 24 May 2012 18:49:45 +0100

Swedish insurance company Dina Försäkringar extends its cooperation with Tieto for the operation of IBM iSeries and will transfer its server operations to a new, flexible IT-solution: iTAP. The new service can be described as "IT on tap", a flexible solution that allows the capacity to be adjusted according to need. The customer only pays for the power used. The new agreement is valid until January 31 2014.

European invoice finance market worth over 1 trillion, reveals new research from Demica

Wed, 23 May 2012 12:58:54 +0100

Invoice finance is becoming an increasingly significant source of working capital funding, according to new research from Demica, as availability and lending conditions for relationship credit remain tight in Europe. It is believed to be the first time that the aggregated invoice finance market (includes trade receivables securitisation, factoring and invoice discounting, supply chain finance, and a range of other invoice-based finance techniques) has been analysed as a whole. ...

European Parliament votes on Capital Requirements Regulation comments by Sharon Bowles MEP

Mon, 14 May 2012 18:30:00 +0100

“The European Parliament has voted through an ambitious and innovative text today. On the key concern of maximum versus minimum harmonisation there is sufficient flexibility within an EU framework. This will allow countries with a very large debt to GDP ratio to take the necessary action to protect themselves.

Shipping sector 'must become more transparent to attract new sources of financing'

Thu, 03 May 2012 15:24:52 +0100

Global ship financing is undergoing its biggest transformation for decades as sector stakeholders seek new forms of ship financing, some of which will demand significant changes to the way shipping companies are run and the way they raise finances, a report by KPMG claims.

SNR Denton advises HSBC on its merger with Oman International Bank

Tue, 24 Apr 2012 18:13:54 +0100

SNR Denton has advised HSBC Holdings PLC and its subsidiary HSBC Bank Middle East Limited (HSBC) on the merger of HSBC’s operations in the Sultanate of Oman with publicly-traded Oman International Bank SAOG (OIB).

Mid-sized business boost in Turkey

Mon, 23 Apr 2012 11:34:03 +0100

The first trade mission of its kind, focusing solely on mid-sized businesses, will pay a two day visit to Turkey later this week. Led by Trade and Investment Minister, Lord Green, and John Cridland, Director-General of the CBI, the mission to Turkey will help build links between UK and Turkish firms and boost trade and investment between the two countries.

Comment from Forex Club anticipating the fothcoming BOE rate announcement

Thu, 05 Apr 2012 13:27:58 +0100

Commenting on the forthcoming BOE rate announcement, Andrey Dirgin, Head of Research at Forex Club said:

Comment from Forex Club on the importance of a US economic recovery

Wed, 04 Apr 2012 11:22:23 +0100

Commenting on the importance of a US economic recovery, Andrey Dirgin, Head of Research at Forex Club said:

Small businesses will struggle to obtain credit in 2012, say bankers in FICO-Efma survey

Mon, 02 Apr 2012 15:48:43 +0100

LONDON — April 2, 2012 — FICO, the leading provider of analytics and decision management technology, and Efma today announced further results of the fourth European Credit Risk Survey, showing that a “credit gap” looms for small businesses in 2012. The survey, which queried credit risk management professionals in January and February, found that 71 percent of respondents across 31 European countries said small businesses will find it harder to get credit in 2012. ...

Forex Club comments on the impact of the Spanish budget on the recovery of the euro

Fri, 30 Mar 2012 11:15:13 +0100

Commenting on the impact of the Spanish budget on the recovery of the euro, Andrey Dirgin, head of research at Forex Club said:

European Parliament votes through EMIR

Thu, 29 Mar 2012 15:10:51 +0100

Sharon Bowles MEP, who chairs the European Parliament's Economic and Monetary Affairs Committee, has today welcomed the final plenary vote in favour of the European Markets and Infrastructure Regulation (EMIR) in the plenary session of the European Parliament.

Linedata supports Crédit Mutuel ARKEA in developing its equipment leasing activity

Mon, 26 Mar 2012 18:04:24 +0100

PARIS - Linedata, the global solutions provider dedicated to the investment management and credit industries, has been supporting Crédit Mutuel ARKEA in developing its equipment leasing activity with Linedata Ekip, a software package dedicated to the lending, leasing and asset finance industry. A long-standing player in the Property Leasing industry, Crédit Mutuel ARKEA has, in just a few months, created and launched an equipment leasing offering within its ARKEA Crédi ...

Comment from Forex Club on the US giving positive economic signals compared to China and Europe

Sat, 24 Mar 2012 00:02:08 +0100

Commenting on the US giving positive economic signals compared to China and Europe, Andrei Dirgin, Head of Research at Forex Club said: “The Russian currency still remains supported by higher oil prices but the move is confined to narrow ranges due to a relatively neutral market environment. Any rise in demand for fuel will keep RUR supported.

Global Banks: Would European banks have passed the US stress test?

Tue, 20 Mar 2012 17:46:01 +0100

The US bank stress test: The Federal Reserve recently released the results of the 2012 Comprehensive Capital Analysis and Review – or stress test – of 19 US banks. The parameters of the test included a 5% decline in real GDP, a 13.1% unemployment rate, a 52% drop in stock prices, and a 21% drop in home prices. Banks needed to maintain a 5% Tier 1 common capital ratio both before and after any contemplated dividend increases or share repurchases to have been considered to have ...

We must protect European financial watchdog funding says Euro MP

Wed, 14 Mar 2012 15:55:04 +0100

Sharon Bowles, Chair of the influential Economic and Monetary Affairs Committee in the European Parliament, has secured an amendment specifying that funding to the new European Supervisory Authorities (ESAs), which serve as pan-European financial watchdogs, should be prioritised.

South East Euro MP backs campaign for more women in the boardroom

Tue, 13 Mar 2012 17:43:35 +0100

Sharon Bowles MEP, who represents South East England in the European Parliament, has today backed a campaign to get more women in boardrooms across the EU.

Comment from Investec Corporate & Institutional Treasury on Putin, Greece and UK PMI figures

Mon, 05 Mar 2012 11:26:26 +0100

Commenting on Putin being successfully voted in, yet another ratings agency taking action against Greece and anticipated UK PMI Services figures, Lee McDarby, Investec Corporate Treasury, said: “Vladimir Putin being successfully been voted into his second reign as Russian President is surely about as shocking as the sun coming up in the morning.

International Capital Market Association appoints new General Counsel

Thu, 01 Mar 2012 12:41:51 +0100

(Zurich, Switzerland) The International Capital Market Association (ICMA), which represents capital market participants globally, is pleased to announce that it has appointed Leland Goss to the post of General Counsel.

Comments from Investec Corporate & Institutional Treasury

Fri, 24 Feb 2012 12:19:31 +0100

Commenting on Greece appearing to be safe, a stronger than expected German IFO confidence survey and European Union output is now seen to be flat in 2012 compared to 2011, Lee McDarby, Investec Corporate Treasury, said: “So Greece appears to be safe... for now. The laws regarding the Greek debt swap and write downs were passed in parliament and the formal exchange looks set to get started today.

Interest Rate Strategy - Greece: Act Two, Opening Scene

Fri, 24 Feb 2012 10:25:52 +0100

The agreement reached between the Eurogroup and the Greek government, if fully implemented, should be enough to finance Greece for a further three years. The Eurogroup statement, and the impending official launching of the swap offer, leave a number of issues unresolved. On the whole, also considering the uncertainty of the political picture, the second rescue of Greece will in all likeliness prove to be just another act in a drama that may still end with the country exiting the area eu ...

Asian countries are concerned over spill-over effect of Eurozone crisis on world trade - BOWLES

Wed, 22 Feb 2012 12:41:02 +0100

A delegation of the European Parliament's Economic and Monetary Affairs Committee, chaired by UK Liberal Democrat MEP Sharon Bowles, has been meeting with finance ministers, supervisory authorities, stock exchange officials, and monetary authorities in Hong Kong and Singapore to discuss the impact of the Eurozone crisis on Asian markets, as well as developments concerning EU financial services legislation in line with the G20 agenda, such as capital requirements for banks (Basel III) and ...

Comment on Greece and the US recovery continuing in the right direction

Fri, 17 Feb 2012 10:05:45 +0100

Commenting on Greek “savers” and “senders”, and the US recovery continuing in the right direction, Lee McDarby, Investec Corporate Treasury, said: “As The Greek soap opera continues, Germany momentarily rekindled its love affair with the Euro and Greece with key speakers from both sides stating that the tensions between the two are cooling.

Readers Offer - DCS Ltd

Mon, 13 Feb 2012 16:22:31 +0100

CCR World is proud to present a Reader’s Offer in conjunction with DCS Ltd. For more details contact Alison Lucas on 01702 341948 or e-mail alison@ccrmagazine.co.uk.

The Asset Works appoint Jones Lang LaSalle as preferred supplier of professional services

Mon, 13 Feb 2012 12:08:01 +0100

The Asset Works, a global leader in leased asset management and verification services is pleased to announce a new partnership with Jones Lang LaSalle for the integration of expert asset valuation, recovery and disposal capabilities into its comprehensive portfolio of services offered to its client base.

Weekly columnn from Minesh Gandhi

Fri, 10 Feb 2012 12:10:39 +0100

US ECONOMY - Recession fears are receding. At least, what it says in the papers. The economy has been adding new jobs at an average rate of about 130000 per month. That’s only about what it takes to stay even with increases in the population.

Holvi Pioneers New EU Legislation to Empower Prosumers

Tue, 07 Feb 2012 12:15:55 +0100

HELSINKI, Finland and LONDON, UK (Finovate Europe 2012) – 7th February 2012 - Holvi, a Seedcamp Winner and portfolio start-up from Finland, introduces a new service that helps groups handle and manage their finances. The solution is a no-hassle online collaboration tool that offers any association or group a shared checking account and all necessary finance management features. Holvi is showcasing their tool at the Finovate Europe 2012 conference taking place 7th February in London ...

eFinancialCareers Comment on the French financial transaction tax

Thu, 02 Feb 2012 16:51:47 +0100

London, Thursday 2nd February 2011 – the Entente Cordiale has been put under great strain over the last few months, and there are no signs of this abating in the immediate future. Following Mr Sarkozy’s announcement to introduce a financial transaction tax next August, if re-elected, London’s Mayor, Mr Johnson and British Prime Minister, Mr Cameron have invited French bankers to quit Paris and move to London. The latest Anglo-French war of words will do nothin ...

ECB's liquidity operations could cost future generations - Sharon Bowles MEP

Wed, 01 Feb 2012 18:12:47 +0100

Sharon Bowles MEP, who chairs the European Parliament's Economic and Monetary Affairs Committee, has said that the ECB's liquidity operations may save the Eurozone today but at the cost of future generations' livelihoods tomorrow.

Senior Loans outlook: Turbulent 2011 likely to open up to more balanced 2012

Tue, 31 Jan 2012 17:25:06 +0100

2011 was a tale of two halves for the global senior loan market, with a strong start to the year giving way to late-summer volatility. Heading into 2012 ING Investment Management (ING IM) expects this volatility to calm and the market to become more balanced leading to a stabilisation of loan prices.

The European Central Bank should not be a mans world Sharon Bowles MEP

Tue, 31 Jan 2012 17:16:55 +0100

The Chair of the European Parliament’s Economic and Monetary Affairs Committee, Sharon Bowles MEP, has raised concerns that the European Central Bank is dominated by men.

Aircraft industry takes off while air transport remains grounded

Tue, 31 Jan 2012 15:11:02 +0100

Paris – 2011 was a record year for aircraft manufacturers, as much in terms of units produced as in terms of orders, which doubled relative to 2010. Growth in the sector is being driven by the strong expansion of Asian and Middle East airlines, which are developing fast and increasing their capacity in order to gain market share.

British MEP re-elected Chair of European Parliaments Economic and Monetary Affairs Committee

Mon, 23 Jan 2012 17:00:37 +0100

Amid fears that David Cameron’s veto had isolated the UK in Brussels, MEPs from across Europe and the political spectrum have today re-elected British Liberal Democrat MEP Sharon Bowles as Chair of the European Parliament’s Economic and Monetary Affairs Committee.

New Appointment to lead Post Trade Counterparty

Thu, 19 Jan 2012 16:16:24 +0100

LONDON - TRG Post Trade Services, provider of Post Trade Consulting Services to the financial community covering regulatory change, compliance, audit, process flows, trade reporting and operational risk, today announced the appointment of Mark Profeti as Head of Strategic Consulting. His new role also encompasses industry initiatives in Counterpart Default Management Systems delivery (CDMS) and Recovery and Resolution Planning (RRP).

MarketAxess is approved to trade local currency debt in Brazil

Thu, 19 Jan 2012 16:08:43 +0100

NEW YORK and LONDON – MarketAxess Holdings Inc., the operator of a leading electronic trading platform for U.S. and European high-grade corporate bonds, emerging markets bonds and other types of fixed-income securities, today announced it has received authorization from the Comissão de Valores Mobiliários – CVM (Securities and Exchange Commission of Brazil) and the Central Bank of Brazil to offer e-trading of local currency debt.

Interstate Batteries Selects VPI EMPOWER Workforce Optimization

Tue, 17 Jan 2012 16:52:06 +0100

Camarillo, Calif. - VPI (Voice Print International), the premier global provider of analytics-enhanced contact center quality monitoring, performance management and workforce optimization solutions, today announced that Interstate Batteries has selected the acclaimed VPI EMPOWER performance optimization suite to maximize the quality and performance of its customer service center.

Gide Loyrette Nouel London Announces New Partner Promotion

Mon, 16 Jan 2012 15:40:12 +0100

International law firm Gide Loyrette Nouel ('Gide') is pleased to announce that Dimitrios Logizidis has been promoted to partner in the London office, effective from 1 January 2012.

South East Euro MP Sharon Bowles joins capitalism project taskforce

Tue, 10 Jan 2012 18:07:06 +0100

Sharon Bowles MEP, who represents South East England in the European Parliament, has been invited by the Henry Jackson Society to sit on the taskforce of a new project which will analyse the future direction of capitalism.

TriOptima announces the appointment of Ken Nishimura as head of TriOptima Japan

Tue, 10 Jan 2012 12:29:04 +0100

TriOptima announced that Ken Nishimura has been appointed the head of TriOptima Japan. Mr. Nishimura will manage the continuing expansion of TriOptima’s client relationships in Japan as well as the day-to-day operations of TriOptima’s Tokyo office.

Euro MP slams executive pay comments

Fri, 06 Jan 2012 14:05:22 +0100

South East Euro MP, Sharon Bowles, who chairs the European Parliament's Economic and Monetary Affairs Committee, has slammed comments made by the head of corporate governance at the Institute of Directors, Roger Barker, concerning executive pay.

Keller and Heckman LLP Taps ADERANT Expert as Its Practice and Financial Management System

Wed, 04 Jan 2012 16:53:38 +0100

ATLANTA - ADERANT, the world's largest independent legal software company, announced today that Keller and Heckman LLP has selected ADERANT Expert as its new practice and financial management system. As a pioneer in the use of interdisciplinary approaches to problem solving, Keller and Heckman chose ADERANT based on its ability to optimize firm performance and improve cash flow, as well as its history for delivering excellent customer service.

"Cameron has played a dangerous game and lost" says Euro MP Sharon Bowles

Fri, 09 Dec 2011 15:41:04 +0100

The British chair of the European Parliament’s influential Economic and Monetary Affairs Committee, Sharon Bowles MEP, has said today that "David Cameron has played a dangerous game and lost."

CGI receives U.S. patent for its end-to-end trade & supply chain solution CGI Trade360®

Wed, 07 Dec 2011 16:08:22 +0100

Fairfax, Virginia – CGI Group Inc., a leading provider of information technology and business process services, today announced it was issued a patent in the United States for CGI Trade360. This is the second patent CGI has obtained for its trade services technology. The first patent was granted in 2004 for Object Tradeline, now part of CGI Trade360. The patent protects CGI’s exclusive rights to the object-oriented trade finance system designed to support clients ...

Non-financial firms should not be too big to fail says Euro MP Sharon Bowles

Thu, 01 Dec 2011 16:33:14 +0100

Sharon Bowles MEP, who chairs the European Parliament’s Economic and Monetary Affairs Committee, has demanded more concrete provisions for companies deemed 'too big to fail' in the European Commission's forthcoming proposals on corporate governance for EU companies.

Eurobonds are a long-term answer but wont solve immediate Eurozone problems - Sharon ...

Wed, 23 Nov 2011 11:58:25 +0100

Euro MP Sharon Bowles, Chair of the European Parliament’s Economic and Monetary Affairs Committee, welcomes proposals on Eurobonds which will be presented to her committee by European Commissioner Olli Rehn later today, but notes they will not solve the crisis in the short-term.

Europes Catch 2012: a comment on the Eurozone crisis by Sharon Bowles MEP

Mon, 14 Nov 2011 17:51:27 +0100

The direction of the European, and potentially global, economy appears currently to rest on one decision: does the ECB intervene by purchasing periphery government debts in large quantities, also called quantitative easing, thereby basically printing money? To many, this now appears to be the only option - the alternative is a financial meltdown - but is it actually a different option? We did not get into this situation by sheer bad luck and whichever path we take, serious and life chang ...

Euro MP Sharon Bowles radical plan to make lending to SMEs more attractive

Mon, 14 Nov 2011 17:48:09 +0100

Both the UK, and now the EU, is fretting that SMEs are getting squeezed by bank deleveraging. Sharon Bowles MEP is proposing a radical plan to make lending to SMEs more attractive.

Sharon Bowles MEP - plenary speech on the outcome of the Eurozone summit

Thu, 27 Oct 2011 12:29:51 +0100

“Presidents, thank you. As ever, we await details. Concerning the EFSF, the credit-enhancement option has similarity to mortgage and US department guarantees whilst the SPV option has similarities with known structured products. However, neither has been tested on the markets on this scale and so there will be challenges to meet in deployment.

EU proposals on corporate transparency in the developing world is welcome news Sharon ...

Tue, 25 Oct 2011 14:47:41 +0100

New proposals, announced by the European Commission today, will require European companies to divulge more information about their activities in the developing world.

European leaders are on borrowed time to save the Euro - Sharon Bowles MEP

Fri, 21 Oct 2011 14:49:02 +0100

Speaking at the Association for Financial Markets in Europe’s 6th Government Bonds conference in Brussels today, Sharon Bowles MEP, who chairs the European Parliament's Economic and Monetary Affairs Committee, gave a stark warning to European leaders who will be attending the European Council meetings next week, that the stakes have never been higher.

Sharon Bowles MEP welcomes long-awaited review of Financial Markets directive

Thu, 20 Oct 2011 17:48:19 +0100

The Chair of the European Parliament’s influential Economic and Monetary Affairs Committee, Sharon Bowles MEP, has welcomed the Markets in Financial Instruments Directive (MiFID) review, released today. Covering the breadth of financial markets, the MiFID review - which comes in the form of a Regulation and a Directive - legislates on trading venues, transparency issues, transaction reporting, high frequency trading, conduct of business rules, and sanctions.

Aspect to demonstrate new social media channel integration capabilities at Expo 2011

Fri, 07 Oct 2011 16:41:38 +0100

Aspect, a leading provider of customer contact and Microsoft platform solutions, today announced it is participating in the Call Centre & Customer Management Expo 2011 taking place 11-12 October in London.

Chair of European Parliament Committee thanks outgoing European Central Bank President for hard work

Wed, 05 Oct 2011 17:44:07 +0100

The Chair of the European Parliament's Economic and Monetary Affairs Committee, Sharon Bowles MEP, has thanked the outgoing President of the European Central Bank, Jean-Claude Trichet, for his eight years of hard work.

Aspect Recognised in Software Magazines 29th Annual Software 500 for Sixth Consecutive Year

Wed, 05 Oct 2011 10:02:18 +0100

CHELMSFORD, Massachusetts — Aspect, a leading provider of customer contact and Microsoft platform solutions, today announced its inclusion in Software Magazine’s Software 500 ranking of the world’s largest software and service providers, now in its 29th year. Aspect was ranked 117 based on $468.6 Million in revenue and a 4.8 percent growth rate.

Avaloq Group Achieves Oracle PartnerNetwork Specialized Partner Status for (Oracle Database 11g

Sun, 02 Oct 2011 18:53:15 +0100

Avaloq group, the reference for integrated and comprehensive banking software solutions, and a Gold member of Oracle® PartnerNetwork (OPN), has announced it has achieved OPN specialized status for Oracle Database 11g.

Rockspring secures major debt financing for OParinor shopping centre with Helaba and Aareal

Mon, 05 Sep 2011 17:43:40 +0100

Rockspring Property Investment Managers (“Rockspring”) announces that one of its funds has signed an agreement with Landesbank Hessen Thüringen Girozentrale (“ Helaba ”) acting as agent and arranger, and Aareal Bank AG (“Aareal”) as co-arranger, for a €219 million debt facility, securitised against O’Parinor Shopping Centre in the north of Paris. It is one of the largest financing deals in France this year.

British Euro MP Sharon Bowles named on list of Top 10 most influential regulators

Mon, 05 Sep 2011 17:38:55 +0100

British Euro MP, Sharon Bowles, who represents South East England at the European Parliament and chairs the Parliament’s powerful Economic and Monetary Affairs Committee, has been named on a list of the Top 10 ‘most influential’ regulators by Financial News, a leading industry newspaper.

Sharon Bowles MEP, comments on the Eurozone debt crisis

Wed, 17 Aug 2011 16:40:37 +0100

Sharon Bowles MEP, Chair of the European Parliament’s Economic and Monetary Affairs Committee, comments on the Eurozone debt crisis.

Apollo wins another round in its patent infringement lawsuit against Collections Marketing Center

Mon, 15 Aug 2011 19:32:48 +0100

LONG BEACH, CA , August 15, 2011 - The Federal District Court judge presiding over the patent infringement lawsuit between Apollo Enterprise Solutions, Inc. and Collections Marketing Center (“CMC”) has denied CMC’s motion to stay pending reexamination of Apollo’s patent 7,848,978 “Enhanced Transaction Resolution Techniques.”

Investor Confidence Index Increases from 98.9 to 101.1 in July

Wed, 27 Jul 2011 09:54:05 +0100

BOSTON, July 26, 2011 — State Street Global Markets, the investment research and trading arm of State Street Corporation (NYSE:STT), have released the results of the State Street Investor Confidence Index® for July 2011.

Aspect in Leaders Quadrant for Contact Center Infrastructure

Fri, 22 Jul 2011 16:12:50 +0100

CHELMSFORD, Massachusetts, 20 July 2011 - Aspect, a leading provider of customer contact and Microsoft platform solutions, today announced it has been positioned by Gartner, Inc. in the leaders quadrant of the 2011 Magic Quadrant for Contact Center Infrastructure Worldwide.

Reduction of interest rates on EU rescue funds is overdue but welcome news

Thu, 21 Jul 2011 21:51:56 +0100

The British Chair of the European Parliament’s powerful Economic and Monetary Affairs Committee, Sharon Bowles MEP, has said the reduction of interest rates on EU rescue funds, agreed at the Eurozone debt summit in Brussels today, is ‘overdue but welcome news.’

Sharon Bowles MEP welcomes new EU capital requirements proposals

Wed, 20 Jul 2011 17:39:24 +0100

Proposals for the fourth Capital Requirements Directive (CRDIV), announced by the European Commission today, will be the vehicle that brings Basle lll rules on banking regulation into UK law.

BWise Positioned in Leaders Quadrant of the 2011 Magic Quadrant for Enterprise GRC Platforms

Fri, 15 Jul 2011 16:05:24 +0100

New York, NY and ‘s-Hertogenbosch, Netherlands, July 15 2011 – BWise, the global leader in Governance, Risk and Compliance (GRC) management software solutions, announced today that it is positioned in the Leaders Quadrant for Enterprise Governance, Risk and Compliance (EGRC) Platforms in Gartner’s July 13, 2011 report by French Caldwell, Tom Scholtz and John Haggerty. Eighteen companies are positioned in the report based on an evaluation of “Completeness of Vision& ...

Shoosmiths creates national team for asset based lenders

Wed, 13 Jul 2011 18:18:52 +0100

Shoosmiths has created a new national team to work for asset based lenders (ABLs).

Sharon Bowles MEP backs Super Mario Draghi for European Central Bank President

Mon, 27 Jun 2011 10:22:35 +0100

The Chair of the European Parliament’s Economic and Monetary Affairs Committee, Sharon Bowles MEP, has given her backing to Mario Draghi, the man who will succeed Jean-Claude Trichet as President of the European Central Bank.

UniCredit arranges Euro 50m Credit Facility for OJSC VTB-Leasing backed by SACE

Mon, 27 Jun 2011 10:18:32 +0100

UniCredit signed a Facility Agreement with the leading Russian leasing company OJSC VTB-Leasing for an aggregate principal amount of Euro 50m (fifty million) backed by a guarantee from the Italian export credit agency SACE, with UniCredit acting as sole arranger and Bank Agent.

Software and process compliancy for financial institutions by PWC and Transtrack

Fri, 17 Jun 2011 16:15:46 +0100

Amsterdam - Transtrack and PWC entered into a long-term cooperation to strengthen controls measures within the CashWebCommunity (CWC) software product for financial institutions.

Survey: risk management under pressure as firms refocus on profits, growth

Thu, 16 Jun 2011 10:32:06 +0100

The Premier Business Leadership Series, ANTWERP, BELGIUM – 15th June, 2011 – Has the financial services industry reached a comfort zone, placing it in jeopardy of another crisis? Are today's risk management practices and reporting in tune with existing risk culture and organisational expectations?

TriOptima eliminates JPY interest rate swaps with a notional value of 70 trillion JPY ($857 billion)

Thu, 16 Jun 2011 10:05:51 +0100

TriOptima announced that 15 Japanese and international institutions eliminated JPY interest rate swaps with a notional value of 70 trillion JPY ($857 billion) in the first half of 2011 using the triReduce portfolio compression service.

Wells Fargo to join LCH.Clearnets SwapClear service

Fri, 10 Jun 2011 16:56:25 +0100

LCH.Clearnet announced yesterday that Wells Fargo Bank NA has signed a letter of intent to join LCH.Clearnet Ltd’s (LCH.Clearnet) SwapClear, a global clearing service for over-the-counter (OTC) interest rate swaps. By joining SwapClear, Wells Fargo will take the total number of SwapClear clearing members to 54.

LCH.Clearnet appoints Susan Milligan as Head of US Public Affairs

Mon, 06 Jun 2011 15:56:00 +0100

LCH.Clearnet Limited (LCH.Clearnet) has appointed Susan Milligan head of US public affairs. Based in Washington D.C., Susan will be responsible for representing LCH.Clearnet Group with the US Congress and the federal agencies and will liaise with the US media.

Cyrus Ardalan appointed new chairman of ICMA

Fri, 27 May 2011 16:49:27 +0100

Paris, France - The International Capital Market Association (ICMA) has announced that Cyrus Ardalan is the Association's new chairman. Mr Ardalan becomes chairman with immediate affect having been elected by the Board of ICMA during the 43rd AGM and Conference being held in Paris.

Chair of European Parliament delegation says that Ireland is on the right track

Fri, 27 May 2011 16:40:10 +0100

A senior delegation of MEPs from the European Parliament’s Economic and Monetary Affairs Committee concludes its visit to Ireland today.

Aspect Appoints Executives to Lead Product Strategy and Execution

Fri, 20 May 2011 16:48:07 +0100

CHELMSFORD, Massachusetts, 19 May 2011 — Aspect, a leading provider of customer contact and Microsoft platform solutions, has announced the appointments of Michael Regan as senior vice president of engineering and technology, Michael Ely as vice president of technology, and Serge Hyppolite as vice president of product management. Together, these individuals will bring the next wave of innovation and thought leadership to the Aspect solutions roadmap.

Gide Loyrette Nouel advises Veolia Environnement SA on the signing of syndicated loans

Mon, 09 May 2011 17:18:31 +0100

In April, Veolia Environnement SA entered into two syndicated loans: a EUR 2.5 billion multi-currency syndicated five-year facility with a syndicate of 31 banks, and a EUR 500 million three-year facility available in Polish zloty (PLN), Czech koruna (CZK) and Hungarian forint (HUF) with a syndicate of 23 banks.

Tieto offers securities trading business greater efficiency

Tue, 12 Apr 2011 16:24:55 +0100

Tieto has launched its Software as a Service (SaaS) solution to help financial services companies take better control of their capital markets operations and increase efficiency. The Securities as a Service concept addresses securities traders' need to streamline their operations to increase margins while concentrating their resources on getting new customers and retaining current ones.   

ICMA AMTE Council releases new guidance on debt buybacks

Mon, 11 Apr 2011 17:58:43 +0100

PARIS - The AMTE Council of the International Capital Market Association (ICMA), which represents issuers, intermediaries and investors in the euro debt market, has today released new guidance for government, government agencies and supranational issuers on buying back their own debt securities in the international capital markets. The purpose of this guidance is to improve the functioning of the international capital markets by encouraging issuers who intend to buy back their debt ...

Fabrice Damien joins Tikehau Investment Management

Tue, 22 Mar 2011 18:42:53 +0100

Tikehau Investment Management is making a further push into the primary credit and private debt markets by hiring Fabrice Damien from Bank of America Merrill Lynch.

Global Financial Centres Index 9 Published Today - "Asia - The Main Area for Growth"

Mon, 21 Mar 2011 17:51:42 +0100

Today the Z/Yen Group publishes the ninth Global Financial Centres Index (GFCI 9) covering 75 financial centres.

Merkel strikes heavy blow to Ireland's hope of a sustainable recovery - Sharon Bowles MEP

Mon, 14 Mar 2011 14:58:31 +0100

Liberal Democrat Euro MP, Sharon Bowles, who chairs the European Parliament’s Economic and Monetary Affairs Committee, has again spoken out against the decision to not reduce interest rates for Irish debt repayments.

Worlds monetary stance accommodating inflationary pressures

Wed, 09 Mar 2011 16:23:17 +0100

London - Baring Asset Management (Barings) is warning that although the global economic recovery is largely back on track, the risks of inflationary pressures and political unrest in the Middle East are putting this under great pressure. Percival Stanion, Head of Asset Allocation at Barings, believes that central bankers’ response to the inflationary threat is a major cause for concern.

OnGuard pioneers new approach to working capital with customer-centric credit management

Thu, 03 Mar 2011 00:00:01 +0100

London & New York, March 3rd 2011 -- OnGuard, provider of business-to-business credit, collections, and complaints management solutions, has developed a new approach to credit management that optimizes working capital and enhances the customer-supplier interface. By combining credit, collections and complaints management processes into a single customer-centric function, OnGuard’s innovative approach allows firms to better manage accounts receivables, directly improving profitab ...

Welcome for EU review of support for small businesses

Wed, 23 Feb 2011 16:55:15 +0100

The UK Government, alongside other European member states including Belgium and Italy, today welcomed publication of the European Commission’s Small Business Act Review.

Finance leaders anticipate quick recovery in debt market

Tue, 01 Feb 2011 15:30:02 +0100

LONDON - New research from DLA Piper has found that key players in the lending community expect activity in the European acquisition finance market to increase on 2010 levels.

Crown Germany positions itself in Commercial Real Estate Mortgage Servicing

Fri, 21 Jan 2011 16:30:36 +0100

As part of the strategic business development of the German Crown servicing arm, Crown Westfalen Credit Services GmbH (CWCS) has integrated a team of four specialists in the field of commercial mortgage servicing from the J.P. Morgan subisidiary, Whiteshire Debt Solutions GmbH.

Euro MP Sharon Bowles calls for EU rescue package windfalls to be refunded

Mon, 17 Jan 2011 17:41:15 +0100

Lib Dem MEP Sharon Bowles, who chairs the European Parliament’s Economic and Monetary Affairs Committee, is calling for countries bailed out by the European rescue schemes to be refunded some of the high interest they have had to pay, once they have managed to pay off all their debts.

Euro area inflation, December 2010

Fri, 14 Jan 2011 12:56:38 +0100

Euro area1 annual inflation was 2.2% in December 2010, up from 1.9% in November. A year earlier the rate was 0.9%. Monthly inflation was 0.6% in December 2010.

Sharon Bowles MEP calls for EU rescue package windfalls to be refunded

Thu, 13 Jan 2011 12:58:57 +0100

Speaking at a European Commission conference marking the start of the European Semester, Chair of the European Parliament's Economic and Monetary Affairs Committee, Sharon Bowles MEP, said that “now is the time to bring forward bold ideas”, and welcomed the Parliament's proposals.

Banks should be forced to pay bonuses in contingent capital, not shares Sharon Bowles MEP

Tue, 11 Jan 2011 18:27:50 +0100

Liberal Democrat Euro MP, Sharon Bowles, who chairs the European Parliament’s Economic and Monetary Affairs Committee, today hit out at banks which have decided to pay bonuses to staff in shares rather than using the alternative - ‘contingent capital’ - a form of debt that converts into equity when there is a crisis.

EU rules on bankers bonuses are a Lib Dem win Sharon Bowles MEP

Tue, 11 Jan 2011 18:26:30 +0100

Liberal Democrat Euro MP, Sharon Bowles, who chairs the European Parliament’s Economic and Monetary Affairs Committee, has hailed the new rules on bankers’ bonuses, which she introduced into legislation last year, as a success for the Lib Dems now they are being rolled out across the EU.

Aspect to Deliver Small- to Mid-Size Turnkey Contact Centre Product Built for Microsoft Lync

Fri, 17 Dec 2010 17:51:16 +0100

CHELMSFORD, Massachusetts — Aspect, a global provider of unified communications and collaboration services and software, has announced it will be delivering a software-based product for small- to mid-size contact centre applications using Microsoft Lync as its media server. The new product will be a value-priced, turnkey option for IT Help Desks, virtual sales teams, corporate departments, branch offices and small- to mid-size contact centres looking to leverage their unified ...

Economic growth crucial for progress on financial regulation in 2011

Fri, 17 Dec 2010 10:08:09 +0100

This year's considerable progress on international regulatory reform has been recently overshadowed by East-West imbalances and the spectre of Eurozone uncertainty. The International Centre for Financial Regulation (ICFR) has predicted that the implementation of global financial regulatory reform in 2011 will depend heavily on whether the public begins to feel the benefits of economic growth.

OnGuard and AcceptEmail join forces

Wed, 08 Dec 2010 18:51:42 +0100

Nederhorst den Berg & Amsterdam - OnGuard Netherlands BV and AcceptEmail BV have signed a partnership agreement providing an interface between OnGuard’s credit management software and AcceptEmail’s e-Billing & e-Dunning solution. This will bring substantial efficiency savings to clients’ collections processes and also make it easier for their customers to make payments.

Bank of Ireland leads financing supporting the establishment of new food company Valeo Foods

Mon, 29 Nov 2010 11:18:13 +0100

Bank of Ireland Corporate Banking today, 26 November 2010, announces that it has part-financed the establishment of Valeo Foods (“Valeo”), a new Irish-based food company that will combine the businesses of Origin Foods, the food division of the ESM and AIM listed, Origin Enterprises plc (“Origin”), together with the business of Batchelors, the leading privately-owned Irish ambient food company. Valeo will be owned by CapVest Limited (“CapVest”) (55%) and ...

Bibby Financial Services Group acquires Kopparberg Finans AB

Fri, 19 Nov 2010 16:42:04 +0100

The Bibby Financial Services Group has announced today that it has acquired Kopparberg Finans AB, an independent factoring company based in Ljusnarsberg, central Sweden.

CGI Ranks 16th among 100 Leading Global Technology and Service Providers on the FinTech 100

Fri, 29 Oct 2010 13:15:06 +0100

FAIRFAX, Virginia, October 28, 2010 – CGI Group Inc., a leading provider of information technology and business process services, today announced that it ranked 16th among 100 of the leading global technology vendors in American Banker, Bank Technology News and IDC Financial Insights’ 2010 FinTech 100. CGI earned a top spot on the FinTech 100 by growing and expanding its financial services business even through the challenging economic times.

Commonwealth Bank goes live with TCS BaNCS Core Banking in India

Wed, 27 Oct 2010 13:09:27 +0100

SIBOS, Amsterdam, 27th October, 2010 – Tata Consultancy Services (TCS), a leading IT services, business solutions and outsourcing organisation, announced today that the Commonwealth Bank of Australia has gone live on TCS BaNCS Banking platform supporting its first Indian branch in Mumbai.

CGIs Trade360 Platform Provides New Integrated Capabilities Helping Banks Drive Revenue Globally

Wed, 27 Oct 2010 09:41:16 +0100

FAIRFAX, Virginia – CGI Group Inc., a leading provider of information technology and business process services, has announced it’s helping banks drive revenue globally by providing online cash management for corporate customers and fully integrated back office processing on its Trade360 global trade platform.

VocaLink partners with ABN AMRO for SEPA clearing services

Wed, 27 Oct 2010 09:35:33 +0100

Amsterdam, 25 October 2010 - VocaLink, the international payments specialist, today announced that it has selected ABN AMRO as its new Liquidity Bridge Bank. This will ensure it can continue to deliver SEPA payments to all available destinations through its interoperability agreement with EBA Clearing.

Payments not ready for SEPA

Wed, 27 Oct 2010 09:30:54 +0100

Since 2006, the use of IBAN (international bank account numbers) and BIC (bank identifier codes) have been compulsory for all international euro transactions. However under SEPA, the use of BIC and IBAN will be mandatory for domestic as well cross-border payments, replacing the existing BBANs (basic bank account numbers).

European banks reliance on legacy technology 'is hampering flexibility and increasing costs'

Mon, 25 Oct 2010 12:43:22 +0100

Sibos, Amsterdam - Callataÿ & Wouters, a provider of core banking and multi-channel distribution solutions, today releases the findings from research into how IT decision makers in banks across the UK, France and Germany are approaching their investment in core banking systems following the financial crisis. The majority - 66 per cent - agree that the events of the past two years in the finance industry have increased the importance of core banking systems to the business, but 69 per ce ...

EU must act to end corporate irresponsibility and tax avoidance in developing countries

Mon, 11 Oct 2010 17:05:29 +0100

Liberal Democrat MEP Sharon Bowles, who chairs the European Parliament's influential Economic and Monetary Affairs Committee, has called again on the European Commission to speed-up making country-by-country reporting standards compulsory for EU companies.

Aspect Ranked Among World's 100 Largest Software Companies for Fifth Consecutive Year

Fri, 08 Oct 2010 12:19:30 +0100

CHELMSFORD, Massachusetts - Aspect, a global provider of unified communications and collaboration services and software, today announced it has been ranked as the 98th largest company by revenue on Software Magazine's annual list of the top 500 software and services companies in the world. The 2010 Software 500 ranking represents Aspect's sixth consecutive year on the list with five uninterrupted years in the top 100. The ranking, now in its 28th year, also position ...

Sharon Bowles MEP, Chair of ECON, comments on latest capital requirements proposals

Thu, 07 Oct 2010 19:26:33 +0100

Sharon Bowles MEP, who chairs the European Parliament’s influential Economic and Monetary Affairs Committee, was instrumental in getting the last Capital Requirements Directive (CRD3) voted through the Parliament.

Sharon Bowles MEP comments on European Commission's proposals on Economic Governance

Wed, 29 Sep 2010 18:50:00 +0100

Sharon Bowles MEP, who chairs the Economic and Monetary Affairs Committee in the European Parliament, has welcomed the European Commission's proposals on economic governance.

FICO and Bull Partner to Jointly Deliver Advanced Solutions in Latin America

Wed, 15 Sep 2010 18:41:27 +0100

MINNEAPOLIS and SAO PAULO - FICO, the leading provider of analytics and decision management technology, and Bull, the premier European-based global IT supplier, today announced an agreement to market solutions jointly in Latin America. The distribution agreement covers FICO’s decision management solutions and custom analytics in combination with Bull’s technology and systems integration services.

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