China has played down the risks in a wave of borrowing by local governments, saying that officials were getting to grips with a debt problem that economists warn could yet destabilise the financial system. A statement issued by the Ministry of Finance and the China Banking Regulatory Commission (CBRC) gave a largely clean bill of…
Life insurer Friends Provident, now part of the British group Resolution, sees a rise in employee benefits in the Middle East as a springboard to growth in the region’s nascent insurance industry, an executive said. “The main focus is on the United Arab Emirates and we are currently speaking to another territory about getting a…
Founded in 1926, Banca March is the foremost family-owned Spanish bank. Soundness, prudence and a close-knit relationship with its clients are the cornerstone values of a bank that has been around for nearly a century. Banca March also has the best solvency ratio among Spanish banks and one of the highest in European banking (19.7…
The bank prides itself on understanding the needs as well as the strategies of its clients in order to provide them with customised services efficiently and quickly. The bank focuses on corporate clients with annual revenues above R$150m. Its culture led to fast growth throughout its more than twelve years of existence, positioning Banco PINE…
The plunge of the European common currency has been the market theme for much of 2010. With the euro value declining to the lowest level against the dollar since 2006, foreign exchange trading has given way to extraordinary profit taking. Feeding on turbulence, the forex market offers unparalleled opportunities in both upturn and downturn markets…
Back in the fifties, Mifel was a small company servicing SMEs on financial strategies. Later on, it began to grow a small fund to operate with and eventually obtained the first private concession for an exchange house in Mexico back in the tumultuous and complicated eighties. In 1993, Mifel set up a leasing company and…
For over three years, Western governments have been battling one of the most severe economic crises of the last century. It commenced with the subprime mortgage crisis in the US, Northern Rock in the UK, Lehmans, and now new rumours of uncertainty coming from Europe. In the midst of all of this, there have also…
Many of these changes and reforms have been possible, through the use of public private partnerships. Shalakany Law Office has been working closely with the three main parties involved; the government, the service providers and the lenders, on a variety of different public partnership projects across different sectors, giving them a unique insight into inner…
Peru’s Finance Minister Mercedes Araoz will be replaced in a cabinet shuffle this week, three sources in the ruling party and close to the government have unveiled. One of the sources said Ismael Benavides, who once led one of Peru’s largest banks, will be the new finance minister and that a swearing in ceremony was…
Mazda Motor Corp will recall 215,000 Mazda 3 and Mazda 5 vehicles sold in the US because of the risk that they could lose power steering without warning. The Mazda recall of vehicles from the 2007 through 2009 model years was announced in a filing with the US National Highway Traffic Safety Administration. Mazda said…
