|
Broadcastle plc, the specialist bank and finance company, announced its audited results for the year ended 31 December 2002.
Profit before tax and goodwill amortisation was up 39 per cent to Ј2.97m from the 2001 figure of Ј2.13m and record sales were achieved with a 46 per cent jump to Ј41.3m.
13/03/2003
|
|
Gerling, the cash-strapped German insurer, said yesterday it was seeking regulatory approval to inject Ђ200m (US$220m) in emergency funds into its ailing reinsurance unit. The funds would be transferred from the group's equalisation reserves, an emergency cash pile to cover exceptional losses, to reinsurance arm Gerling Global Re, officials said.
Gerling, under pressure from Deutsche Bank, wants to find a buyer for its reinsurance operations to ensure the survival of its core industrial and credit insurance businesses.
12/03/2003
|
|
Three members of Latvia's Leasing Provider Association, Hanza Lizings, Unilizings and Nordea Finance Latvija have reported a factoring and leasing portfolio rise of 31 per cent last year to 278.4m lats (Ђ437m), with another 30 per cent growth expected for 2003.
The association’s aim is to popularise leasing and factoring services in Latvia and to harmonise the legal and legislative issues related to leasing and factoring services. Members include Latvia’s top three leasing and factoring companies.
12/03/2003
|
|
Malaysian exporters are now able to sell to Russian buyers on credit terms, said Bank Industri and Teknologi Malaysia Bhd.
In a statement it said that an agreement was signed between Malaysia Export Credit Insurance Bhd (MECIB) and Ingosstrakh Joint Stock Insurance Company (Ingosstrakh) of the Russian Federation.
Following the agreement, it said, the trade arrangements were reciprocal in nature with each party supporting trade between the two countries by providing Export Credit Insurance and Guaranteed facilities to exporters and banks.
11/03/2003
|
|
Go to Corporate Restructuring practitioner gives fraud prevention advice.
11/03/2003
|
|
Underwriter Euler American Credit Indemnity has notified policyholders it will no longer insure their accounts receivable on business done with beleaguered U.S. Foodservice Inc., people familiar with the matter said.
10/03/2003
|
|
Indonesian small- and medium-sized enterprises (SMEs) have called on the government to provide help in promoting their products overseas to boost their exports.
Yonni Soeharyo of Watu Dewa Art, a furniture manufacturer, said the current worldwide phobia of terrorism was discouraging overseas buyers coming to Indonesia to look for products, so local manufacturers had to fly overseas to promote them. He added that the possible war in Iraq made overseas promotion more important to penetrate other markets less affected by the situation.
10/03/2003
|
|
Exim Bank has extended a line of credit of $2m to the Trade & Investment Development Corporation of the Philippines (TIDCORP) to support India's exports to the Philippines.
Under the line of credit, importers based in Philippines would make advance payment of 10 per cent of the contract value and credit would be provided by Exim Bank for 90 per cent of the contract value to TIDCORP.
Exim Bank would reimburse Indian exporters on shipment of goods. The credit period would be up to five years, said an Exim Bank statement.
10/03/2003
|
|
Produced for Ulster Bank by NTC Research Ltd, the PMI (Purchasing Managers’ Index) Report is based on a new monthly survey of the Northern Irish economy. Ulster Bank Limited is a member of the Royal Bank of Scotland Group The survey draws on information provided by a broad representative panel of private sector companies drawn from the manufacturing, services, construction and retail/wholesale sectors, and will provide the first indication every month of trends in Northern Ireland economic activity.
10/03/2003
|
|
The Kanara Small Industries Association (KSIA) has asked the Karnataka Government to take steps to provide adequate Budgetary support for the entire investment subsidy due to the small-scale units (SSIs) in the State.
10/03/2003
|
|
The European Bank for Reconstruction and Development will provide Slovakia's VUB [General Credit Bank] bank a further Ђ20m to support small and medium-sized enterprises (SMEs) under a contract signed in Bratislava on Friday .
The EBRD loan has a maturity of five years, and the Italian-owned VUB may use it to extend loans of up to Ђ125,000. "
Source: Financial Times
10/03/2003
|
|
Murray Chisholm told BCR this week about Fortis’s pan-European set-up and how the company’s structure helps it thrive against the threat of increased competition.
07/03/2003
|
|
Enterprise Finance Europe (EFE), the receivables finance and asset-based lender which launched in the UK just over 12 months ago, has taken its first step into Continental Europe by expanding its operations into Germany. The German head office is located in Frankfurt am Main with regional presence in the north, west and south of Germany.
07/03/2003
|
|
Two Romanian businessmen with considerable factoring experience are looking for an investor to help launch a new factoring business in Romania. The businessmen want to exploit the considerable market potential that they feel there is in Romania and already have a team lined up and ready to go.
Interested parties should contact Michael Bickers at mb@bcrpub.co.uk for further information.
BCR
07/03/2003
|
|
There has been much speculation in the financial press regarding the unregulated status of independent factoring and invoice discounting firms in recent weeks.
While invoice discounting divisions of the big banks are regulated by The Bank of England, British Bankers Association and the Financial Services Association, and US banks’ invoice discounting arms operating in the UK are regulated by the Securities and Exchange Commission, no such statutory regulation covers the independents.
07/03/2003
|