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France-based trade insurance provider Coface's entry into Ecuador has already sparked the interest of local companies, Coface Chile's marketing and communication manager Maria Jose Sebastian said.
Coface Chile's CEO Louis des Cars is currently in the capital Quito to open the local Coface office, he said.
Sebastian added that local banana and flower producers have already shown an interest in Coface's insurance products.
16/05/2003
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For the past year and a half, the hottest topic at conferences and seminars held by banks has been the small- and medium-sized business (SME) segment. While SME owners complain they still don't have easy access to finance, new initiatives and better laws should bring big improvements
Antonin Taks is the chairman of the board of Napako Praha, a company that produces primarily security doors. The company has an annual average turnover of Kc 55 million. About 20 per cent of production is exported, three quarters of that to the EU, the rest to Switzerland.
16/05/2003
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The Barbados-based Caribbean Financial Services Corporation (CFSC) has received funds of Ђ8 million from the European Investment Bank (EIB) to further its work in helping to launch and develop small- and medium-sized enterprises (SMEs) in the Organisation of Eastern Caribbean States (OECS) and other parts of the region.
16/05/2003
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GMAC Commercial Finance plc, the UK's largest independent invoice finance and asset-based lending specialist, is celebrating the 20th anniversary of its business relationship with Manchester-based Avis Steel Services Limited.
16/05/2003
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Valtech, the French global group of Advanced Technology Solution Centres, has transformed its main line of credit in France into a factoring agreement resulting in the level of financial debt reducing by Ђ1.1 million over the past 3 months. This will give us a much higher borrowing potential, but the transition has been longer than expected allowing customers to delay payments. Valtech is therefore yet to maximise the cash flow benefits of this factoring agreement.
16/05/2003
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Wee See Long, formerly country manager with CIT/Newcourt, Singapore, has joined GE Commercial Finance as director of business development, Asia and head of sales, Singapore.
On taking up his new post on 12 May 2003,Mr Wee said: “After the fruitful and satisfying years in CIT/Newcourt Singapore, I have decided to move on and pursue other interests and new challenges.”
Visit the GE Commercial Finance website at www.gecommercialfinance.com
Surce:BCR
16/05/2003
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BCR has today added the specialist article on international regulations regarding money laundering and their effect on import and export factors in international factoring, to the factorscan.com website. The article will also be published in the World Factoring Yearbook 2003, due out next month.
Click on International regulations regarding money laundering and their effect on import and export factors in international factoring to take you through to the article.
15/05/2003
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As the date for the Chancellor’s announcement on the results of the five economic tests for the euro looms on 9 June, the latest research from Bibby Trade Finance has found that UK firms involved in trading overseas are becoming increasingly confident in the euro. The findings show that 58 per cent of firms believe that the UK should definitely join the euro, a 10 per cent increase on this time last year. Of these, 22 per cent feel that Britain should join immediately, with 36 per cent preferring to see entry in a few years.
15/05/2003
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Figures released today by Ernst & Young and VentureOne reveal a traumatic start to the year for the UK and European Venture Capital industry, as investment in the quarter across Europe fell from Ђ1045m in Q4 2002 to Ђ639m in Q1 2003.
15/05/2003
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Ann Horan, the first woman to become MD of a Bank of Ireland business unit, has now also become the first woman to Chair the Factors & Discounters Association (FDA), the trade association that represents the interests of factors, discounters and asset-based lenders in the UK and Ireland.
15/05/2003
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Fifty-six per cent of UK financial directors believe that their organisation’s sales team is willing to accept too many orders from higher credit risk customers to hit steep sales targets, according to a new report by GERLING NCM to be launched at the Credit Show in London on 12 and 13 May 2003.
15/05/2003
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CIT Small Business Lending, a subsidiary of CIT Group Inc., announced another major addition to the organisation. John Little was named as Regional Account Manager for North Carolina.
15/05/2003
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Executive Summary
Included in this Notice is a summary of the Commonwealth counter terrorism laws as they affect members together with suggestions for compliance. The laws create various offences to prevent the use by known terrorists of the legitimate financial system. The primary offence is that of financing terrorism (an offence punishable with life imprisonment for recklessly providing or collecting funds to facilitate terrorist activities).
15/05/2003
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New entrepreneurs can now qualify for loans of up to 500,000 baht within just seven days under a fast-track programme offered by the state-owned SME Development Bank.
Samran Bhuanantanondh, president of the SME Development Bank, said the bank was allocating an initial budget of three billion baht for the lending programme.
New or existing small business owners can apply to borrow funds under the programme ranging from 50,000 to 500,000 baht.
15/05/2003
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Molecular Imaging Corporation, formerly known as Mobile PET Systems, Inc., announced that it has secured a US$3.2 million asset-based finance facility provided by Meridian Commercial Healthcare Finance, LLC. The company intends to use available funds under the facility for potential Positron Emission Tomography (PET) imaging centre acquisitions and for additional working capital.
15/05/2003
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