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The International Factoring Association is to hold a one-hour teleconference seminar on Thursday, 12 June at 1pm Pacific Daylight Saving Time (PDT).
Mike Ullman, of Ullman,Ullman & Vasquez will speak on the topic “Your first priority Article 9 lien may not save you from an Article 3 holder in due course - can you protect yourself?”
For more information go to www.factoring.org,
email info@factoring.org,
or call 800-563-1895.
Source BCR
09/06/2003
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Ian Roundell has been appointed Director Investor Relations at the international insurance, banking and investment group Fortis.
Ian spent the early part of his career with Deloitte & Touche. More recently he was the Investor Relations Director at Barclays plc. Ian will be based in Brussels, but will also regularly operate out of Utrecht.
Ian succeeds Frank Dausy who joined the Investor Relations team in 1996 and became Director in 2000. Frank will take up new responsibilities within the Credit Department of Fortis Bank as their new communication manager.
09/06/2003
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Businesses were hit by a double whammy yesterday as the Bank of England refused to cut interest rates and the pound responded by hitting a three-year high against the dollar and rose against the euro.
The final meeting of the monetary policy committee chaired by Sir Edward George, who retires as Governor this month, left rates on hold at 3.75 per cent. The decision had been widely expected but was immediately condemned as a "lost opportunity" by business groups and trade unions.
06/06/2003
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In an effort to boost overseas sales, AMD Telemedicine just added another small weapon to its arsenal. The Shattuck Street based company, which makes medical devices that enable patients' information to be transmitted over telephone lines, has just secured a $500,000 export credit insurance policy.
The move, which the quasi-public MassDevelopment helped orchestrate, enables the company to sell its products more easily to foreign-based companies. Company executives say it will inevitably lead to more sales.
06/06/2003
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A new fund to provide finance for start-up and fast-growth businesses in the East Anglia region was launched in Cambridge by Small Business Minister Nigel Griffiths.
The GEIF Ventures Fund will provide investments in early-stage businesses - typically between GBP50,000 and GBP100,000 - matching the investment made by business angels.
06/06/2003
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Standard & Poor's Ratings Services (S&P) announced yesterday that it had downgraded its outlook on the long-term credit rating for Kookmin Bank at BBB plus to ‘negative’ from ‘stable’.
The global ratings agency said the downgrade reflects concerns over Kookmin's credit to small- and medium-sized enterprises (SMEs) amid the economic downturn.
It added that the revision also incorporates the bank's weakened earnings prospects due to its relatively large exposure to credit card debt and its ability to manage these risks over the next few years
06/06/2003
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Small-scale units can now get a composite bank loan of up to Rs 50 lakh as against a maximum of Rs 25 lakh earlier. According to the Reserve Bank of India (RBI), public sector banks have agreed to enhance the credit limit to help SSI units meet the term loans and the working capital requirements.
Composite loans are those loans which are given to meet both the working capital requirements and also for the acquisition of fixed assets by a unit.
06/06/2003
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The Government has made credit access sufficiently easy for small- and medium- scale enterprises (SMEs) that they can stop turning to loan sharks and illegal moneylenders for funds.
The recently announced stimulus package allows SMEs to secure funds from development financial institutions without the need for guarantors and collaterals.
Deputy Prime Minister Datuk Seri Abdullah Ahmad Badawi said the waiver of the collateral requirement, long a sore point among entrepreneurs, should give a major boost to the setting up of new enterprises.
06/06/2003
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Having attended eight out of the last nine FDA dinners I can tell you this year’s event, which was at the Grand Ballroom of the Intercontinental Hotel, London, on the 29 May, surpassed the ones before in terms of attendance levels, entertainment and guest speakers to name but a few.
05/06/2003
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Many businesses suffering from persistent late payment of invoices by their customers choose to engage a factoring company as a means of freeing up working capital. The BPPG has launched new information on its website, www.payontime.co.uk, to explain in more detail the services that a factoring agent can provide.
05/06/2003
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State Bank of Pakistan (SBP) governor, Dr. Ishrat Husain, said the central bank was working on new prudential regulations that will allow the small- and medium-size enterprise (SME) sector to grow in the country.
05/06/2003
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Euler do Brasil, the local credit insurance unit of German financial group Allianz, has received government authorisation to insure export credit, breaking the virtual monopoly of Seguradora Brasileira de Credito a Exportacao (SBCE), a joint venture led by France's Coface.
"Prospective exports we can insure surpass US$10bn [a year]," Euler do Brasil's chief executive Marc Cambourakis was quoted as saying.
05/06/2003
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The interview with Stuart Parker of NMB-Heller on how the company thrives in an increasingly competitive market is up on factorscan.com under UK in depth within articles.
Go to 4 June 2003: Stuart Parker tells BCR how NMB-Heller has continued to thrive in an increasingly competitive market for the full interview.
BCR
04/06/2003
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A KPMG/Economist Intelligence Unit survey, focusing on the middle-market sector, which accounts for 40% of the UK economy, has discovered high levels of confidence among the country’s business leaders.
Six out of 10 of those questioned were upbeat and confident saying their business prospects over the coming year are ‘good’ or ‘very good’.
The survey found that middle-market companies believe they have the edge over larger businesses because of better customer service, innovation, quality of products and workforce and cost efficiency.
04/06/2003
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The results of this quarter’s survey have a particular significance as it was conducted in the period just following the ending of the war in Iraq.
The survey revealed that firms in the consumer services sector continue to struggle with falling profitability and volumes, with no recovery expected in the near term.
Consequently, firms in this sector are more concerned with defending their current market position than engaging in expansionary growth and investment.
04/06/2003
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