The weakness of manufacturing exports and issues of currency control were on the agenda, as The Moscow News hosted a round table discussion on international factoring at RIA Novosti s International Press Center this week.
The Association of Factoring Companies (AFC) has conducted another collection of statistical indicators of Russian factors. According to the data, and AFC estimates, for nine months of 2012 the Russian factoring turnover amounted to RUB964 billion, a 62.5 per cent increase compared to the same period in 2011.
Trade credit insurer, Atradius, has launched its latest country report on Russia, which shows that increased liquidity and solvency in the country's economy could place it as one of the world s top export markets, competing with the likes of China.
UK Export Finance has signed a cooperation agreement with EXIAR, the Russian export credit agency.
OJSC Promsvyazbank (PSB) has received RUB2billion from the SME Bank (Vnesheconombank Group) to help attract more small and medium enterprises (SMEs) to factoring.
Net Element International Inc., a US-based technology driven group in mobile commerce and payment processing, has announced that its mobile payment processing company, TOT Money, has entered into a RUB300 million factoring agreement with Alfa-Bank, Russia's largest private bank.
The International Finance Corporation (IFC) has made US$20 million of capital available to support medium-sized companies in Russia by investing in the Elbrus Capital Fund II.
