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The Better Payment Practice Group (BPPG) has launched a new 'email a friend' facility on its website enabling businesses to alert customers and suppliers to the benefits of good credit management and the availability of information on the Late Payment legislation. The email feature can also act as a valuable prompt to potential or persistent late payers.
02/07/2003
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The latest CIPS / NTC Research survey of the UK construction sector indicated that growth of total industry activity was sustained in June, following a further marked increase in the volume of new business received. The headline seasonally-adjusted Construction Purchasing Managers’ IndexТ (PMIТ) registered 53.3, up slightly from May’s eighteen-month low of 52.8, and remaining above the critical 50.0 no-change mark for the fifty-third consecutive month.
02/07/2003
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Thailand’s economy maintained its robust growth in May, driven by strong domestic demand and higher exports in terms of both value and volume according to the Bank of Thailand.
“Overall the Thai economy continued to expand favourably in May, supported by both domestic and external demand,” said Atchana Waiquamdee, senior director at the central bank.
01/07/2003
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Southern African Fruit Terminals (SAFT), the well-known service provider in the national fruit export chain, is going from strength to strength these days.
01/07/2003
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Liaquat Ali Jatoi, federal minister for Industries and Production, has advised the Small and Medium Enterprise Development Authority (SMEDA) to devise strategies with a view to producing tangible results in the development of small- and medium-size enterprise (SME) sector in the country. Attending a presentation from SMEDA's CEO, Zahid Aziz, about the future plans of SMEDA for the next financial year, he said that the government attaches high priority to the SME sector.
01/07/2003
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June’s seasonally adjusted CIPS/Reuters Purchasing Managers' Index (PMI), designed to provide an overall view of conditions in the manufacturing economy, posted 49.2 in June, up from a revised level of 48.3 in May. However, having remained below the no-change mark of 50.0 since last December, the headline index suggested an overall contraction of the UK manufacturing economy for the seventh consecutive month.
01/07/2003
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The well-known juice producer Hortex has obtained credit totalling ZL85 million. The creditors are BPH PBK, Fortis Bank and factoring company, Forin. The move finalises the company's restructuring process, started in 2001.
Hortex, which produces mainly juices and frozen fruit and vegetables, has achieved a 10 per cent increase in its sales revenues, to almost ZL360 million. It has also achieved undisclosed net profit.
01/07/2003
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Leeds-based Cattles Invoice Finance has provided funding to enable the management buy-out (MBO) at W & P Forging Ltd in Hull.
W & P Forging Ltd, previously known as Whittingham & Porter Ltd, serves customers in specialist markets including manufacture of off-highway vehicles, motor racing and petrochemical valves, has been serving businesses in and around Hull since 1881. Pete Waterman and Trevor Harrison, previously managing director and works director respectively at Whittingham & Porter Ltd formed the MBO team.
01/07/2003
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International Factors Belgium (IFB), has announced pre tax profits of Ђ6.7 million for the twelve months to 31 December 2002 compared with Ђ5.67 million in the previous year, a growth of over 18%. In 2002, invoiced volume, the sum of all purchased debts, grew by more than 22%.
01/07/2003
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The Factors and Discounters Association (FDA) is pleased to announce the launch of a new FDA Overview Brochure.
For the first time, the FDA has a piece of literature which outlines who the FDA are, what the FDA does, the services we offer our Members, Membership criteria and how the Association is structured.
There is also an Industry Product Overview section, so that the brochure can be sent out to future clients of the Factoring and Invoice Discounting market to explain the benefits of various solutions.
30/06/2003
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Eritrea has become the ninth country to sign up to the only pan-African credit insurance agency The African Trade Insurance Agency (ATI).
Eritrea hopes its entry into ATI will stabilise the country’s banking system by letting banks offset some of its risks through ATI insurance policies. In turn importers will be able to import their goods at lower banking costs and with insured political risks.
30/06/2003
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If the Government is genuinely interested in improving the service that small- and medium-sized (SME) UK business customers receive from banks, it must address the barriers which deter European banks from entering this market, says the Association of Chartered Certified Accountants (ACCA).
30/06/2003
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The European giants of merchant credit insurance, Coface and Gerling NCM, are increasingly interested in the Polish market.
Coface plans to open a branch of its Austrian affiliate, using the resources and customers of Coface Intercredit, which has operated in Poland since 1992. Merchant credit insurance is a novelty in Poland.
30/06/2003
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Standard Chartered Bank Malaysia Bhd aims to have local small- and medium-scale enterprises (SMEs) making up at least 10 per cent of its total clients before the country's financial services sector is liberalised in 2007.
The bank plans to open branches dedicated to SMEs in areas with a heavy concentration of these enterprises, particularly in Johor. The bank recently launched its RM6 million branch in Johor Baru's SME hub in Taman Johor Jaya. It intends to set up a similar outlet in either Batu Pahat, Muar or Kluang by the year-end.
30/06/2003
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Leading business finance firm Bibby Factors Northeast has appointed Glen Callander as new business development manager. In his new role, Glen will be responsible for developing new business opportunities and establishing a network of business introducers throughout the North East.
Source: BCR
30/06/2003
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