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Kaulkin Ginsberg, a leading provider of advisory services to service businesses including accounts receivables management (ARM) organisations, announced today that Brian Greenberg has been promoted to the position of Managing Director.
Greenberg is responsible for client development and many of the firm's most prominent deals. During 2002, Greenberg led some US$125m in Kaulkin Ginsberg merger and acquisition (M&A) activity.
27/03/2003
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Tenon Group, the UK accountancy and corporate recovery specialists, published their preliminary results statement declaring a pre-tax profit of Ј4.3m. Reference was made to the Company's restructuring of its corporate finance activities into a cohesive division integrated within the Tenon Group.
27/03/2003
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Swiss Reinsurance Ltd's Chief Financial Officer, John Fitzpatrick, declined to confirm or dispel rumours in the German press that Swiss Re plans to increase its 25 per cent holding to own a majority of Gerling NCM, the Netherlands-based credit insurance company.
"There isn't yet news that I can give you, we monitor this investment like any other investment," he told reporters in a conference call.
27/03/2003
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Bank of India (BoI) plans to introduce an exclusive Small Scale Industries (SSI) credit rating system which will take into consideration problems unique to the sector.
Dr J.B. Kulkarni, General Manager, Priority Sector of BoI,said: "Borrowers in the SSI industry are the most vulnerable in respect of receivables, or money which is due from customers to whom they have supplied the finished goods. If there is a delay in receiving payment, the borrower's liquidity is affected which reflects in the conduct of his account,"
26/03/2003
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Small firms are still being caught out because they offer longer credit periods to customers than they receive from their suppliers, said a new report by the Credit Management Research Centre (CMRC).
On average, the companies responding to the poll had payment deadlines 12 days more generous than the companies they buy from. Professor Nick Wilson of the CMRC said: "Good credit management practices and procedures are proven to reduce the incidence of late payment and it is more important than ever that this message is acted upon."
26/03/2003
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EULER Trade Indemnity, the UK’s leading credit insurer, has restructured senior management team responsibilities. These changes are designed to streamline all commercial underwriting activities and provide a central focus for consistent and effective service delivery.
26/03/2003
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Last year, Export Finance and Insurance Corporation (EFIC) re-launched the Export Working Capital Guarantee (EWCG) facility to extend its range of products to Australian exporters.
Angus Armour, EFIC's General Manager Export Finance said, "We are seeing more Australian businesses take advantage of the facility; a diverse group of companies, exporting products and services, are using the EWCG facility to grow their overseas activities and, as a result, their overall business."
26/03/2003
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Dynamic Commercial Finance plc, specialising in invoice factoring and invoice discounting, produced a profit before tax for the second half of 2002 of Ј52,000, which resulted in a loss before tax for the full year of Ј96,000 compared to 2001 Ј663,000 loss.
During the year the company has increased its client base from 88 to 159 clients with turnover increased by 225 per cent to Ј2.9m on total sales financed of Ј148m (2001: Ј46m).
25/03/2003
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Offshore selling of Australian bank stocks had been overdone in recent months because fears that the home-lending market would collapse were unfounded, JP Morgan said on Tuesday.
The quarterly survey, jointly published by JP Morgan and East & Partners, focused on Australian corporate and commercial banking. It surveyed the top 500 Australian corporates by annual turnover, and a sample of companies with annual turnover in the range of A$20m to A$100m on topics such as future borrowing plans.
25/03/2003
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Indonesia and Guatemala recently held seminars on understanding their bilateral economic and cultural potentials, an Indonesian official has said. Indonesia's permanent representative and the Guatemalan Foreign Affairs Ministry held the seminar simultaneously in two Guatemalan universities.
"The lack of bilateral understanding has hampered ways to enhance bilateral ties, notably in trade and economy," spokesman of Indonesia's permanent representative to the United Nations, Tatang Razak, said.
25/03/2003
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Go to Factoring: Safety net when payment falls through.
24/03/2003
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Financial services giant Wells Fargo & Co. increased its presencein Philadelphia recently when one of its subsidiaries bought most of asset-based lender Sunrock Capital Corp.'s portfolio and acquired its office lease. There could be more to follow for San Francisco-based Wells Fargo, whose prior presence was limited mostly to mortgages.
24/03/2003
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Anti-terrorism measures being taken by states around the world could add up to 3 per cent to the cost of international trade, a conference of exporters in Dublin was told yesterday. The conference, entitled 'Trade facilitation 2003', was organised by the Irish Exporters Association (IEA) to examine the impact of new customs and security regulations on Irish and global supply chains.
24/03/2003
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Snoras, Lithuania's fourth-biggest commercial bank, posted an audited net profit of 10.55m litas(Ђ3.057 m)for 2002, compared to 4.51 m litas for 2001.
The audited profit of the Snoras group reached 10.28m litas last year, up by 270 per cent compared with 2001. The group is comprised of the bank and its subsidiaries Snoro Lizingas (Snoras Leasing), Snoro Garantas (Snoras Guarantee)and Vilniaus Kapitalo Vystymo Projektai (Vilnius Capital Development Projects).
24/03/2003
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Hebros Bank completed the first stage of their national education campaign about bank credit financing offered to small- and medium-sized businesses (SMEs).
Under the title "My Perspective - Financing SMEs" the campaign included a series of nine seminars all over the country, involving more than 1000 participants in Sofia, Plovdiv, Stara Zagora, Bourgas, Pleven, Veliko Turnovo, Rousse, Varna and Blagoevgrad.
21/03/2003
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