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Global

Absence of a clear legal framework hampers factoring industry

Total factoring turnover in India increased to US$1,427m in 2003, from US$1,367m the year before, according to the global industry group Factors Chain International (FCI). Factoring in India has not lived up to its potential. One of the biggest problems...

#bank#global trade#international

CIT ranked top SBA volume lender in 2004

CIT Small Business was awarded Top Volume Lender status by the U.S. Small Business Administration (SBA) among lenders of SBA…

#CIT#economy#leadership


First M&F Corp. of Mississippi reports third quarter 2004...

First M&F Corp. has reported that net income for the quarter ended September 30, 2004 was US$2.781 million, or US$.62…


Exim Bank acquires stake in African Bank, looks to...

The Export-Import Bank of India (Exim Bank) has acquired 30 per cent stake in the Development Bank of Zambia for…


New export finance programme unveiled

A new trade finance initiative has been created to provide California-based small- and medium-sized companies (SMEs), their buyers, suppliers, and…

#bank#exporters#guarantees


SIDBI to hike credit to Kerala SMEs

The Small Industries Development Bank of India (SIDBI) has adopted new instruments and avenues for deploying credit to the small-…


US$1.5 million factoring facility boosts Texas IT services company’s...

Systems Evolution Inc.(SEVI), an information technology services company, announced today that it has closed a $1.5 million factoring facility with…


ADB pledges US$50 million for SME development programme

The Asian Development Bank (ADB) has agreed to provide about US$50 million to the Bangladeshi government-sponsored small- and medium-sized enterprise…

#ADB#Bangladesh bank#bank


Chicago factor in agreed US$10.8 million settlement from fraud...

Capital Factors will receive a US$10.8m settlement from one defendant in a lawsuit in which it claims that customers defrauded…

#international#leasing#receivables


Finance minister welcomes interest rate decision

Finance minister Tibor Draskovics welcomed the Monetary Council's 50 basis point rate cut on Monday, citing it as a sign…


China boosts export credit insurance for agricultural products

According to statistics, insurance premiums on the export of agricultural products increased by more than 70 per cent in the…


Wells Fargo reports Q3 double-digit net income growth

Wells Fargo & Company reported diluted earnings per common share of US$1.02 for third quarter 2004, compared with US$0.92 in…

#interest#leasing#small business

Export insurance and credit

The Pakistan Insurance Corp (PIC) administers an export-credit-guarantee scheme that deals with all exports not covered by letters of credit.…

#bank#exporters#guarantees

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