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Ontario makes FDI shortlist
The Ontario region should be on the UK’s overseas investor shortlist. It has a highly skilled workforce, its banking system is the envy of the world, it will shortly have one of the lowest rates of corporate tax and it has a first-class infrastructure system. Clare Barnett, UK Ontario government senior economic officer, says Ontario’s benefits regularly surprise newcomers. But first, how has the region weathered the global recession? Is it still in fighting health, despite the tough financial pressure of the last two years? “We’ve done very well,” says Ms Barnett, “which is down to our government addressing some of our original ec... -
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Central American region enters EU
Six years ago the Central American Region and Dominican Republic signed the Free Trade Agreement with the US (DR-CAFTA). The treaty has eliminated commercial barriers and taxes for the introduction of certain products, which certainly has brought further economic development for the participant countries. Despite the international financial crisis there has been a considerable increment in the regional exports to the US, especially regarding agricultural and manufactured products. Last May 2010 the Central American Region including Panama signed an Association Agreement with the European Union. The agreement is focused on three basic pillars:... -
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Advisories eye Moroccan deals
Kettani Law Firm (KLF) is a major Moroccan business law firm founded in 1971 by Professor Azzedine Kettani who was admitted to practice as a lawyer in 1968 and is approved by the High Court of Justice of the Kingdom of Morocco. He was joined in 1992 – after internships in France and the US – by Nadia Kettani, who is the Head of the International Consulting Department while supervising some areas of the Litigation Department; and Rita Kettani in 1993, who is the Head of the Commercial Department, the Litigation Department and the Labour Law Department. The firm acts for banks and other financial institutions, international businesses, majo... -
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Austria relaxes legal hurdles
In the past, the registration of a branch of an English company in Austria encountered significant legal resistance and was often rejected by the courts. The cause of this resistance was more often than not a lack of understanding of the Austrian courts of the legal structure of English companies and the inability of the applicants explaining the characteristics of English companies to the Austrian courts. With the recent decision of the Commercial Court of Vienna the registration of an English limited company was accepted and the resistance was finally broken. BMA Brandstätter Rechtsanwälte GmbH represented the English limited company in t... -
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Is the recovery still under construction?
It used to be said that you could measure a city’s economic wellbeing in direct proportion to the number of tower cranes visible along its skyline. But now, with so many building projects shelved or in limbo awaiting remission from the downturn, the exact opposite is often true, with those erstwhile symbols of prosperity standing mournfully idle as an ironic reminder of better times. With some exceptions, the picture across Europe is fairly uniform. Recent Atradius analysis, in its monthly Market Monitor, shows a pattern of continuing pessimism. In the Netherlands, for instance, where traditionally the construction sector has accounted for ... -
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Tanzania poised to become a destination
The largest state in East Africa has for decades been best known for its touristic attractions – most notably the ever snow capped Mount Kilimanjaro, the Serengeti National Park and the Ngorongoro Crater. Mining is giving the country a new layer of international prominence. In little more than a decade, Tanzania has emerged from being a small producer of gold into the third largest in Africa – after Ghana and South Africa – and now plays host to big names in mining like Barrick and Canaco of Canada, Resolute of Australia, and Anglold Ashanti and Shanta Mining of South Africa. The latest estimates point to the mining industry as a contri... -
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The back-to-front world view of Standard Chartered
Standard Chartered does not see the world in quite the same way as other banks. In March this year, the bank appointed V Shankar as chief executive of the Middle East, Africa, the Americas and Europe and moved him to Dubai. Read the job title again, and it almost looks like a deliberate snub to the traditional Atlanticism of the financial markets. At a time when most of the banking world is rushing east to take advantage of fast-growing markets in Asia and Africa, Standard Chartered, which generates just seven percent from the region it calls “Europe/US”, is already there. Instead, it is asking itself whether it should be going the other ... -
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Short-term pain, ?long-term gain
The credit crisis waves of 2008 triggered a panic across the globe and to all types of sectors, irrelevant of their operating nature. The storm specially haunted the financial services sector, where the Kuwaiti banking sector was no exception to its regional and international counterparts. Crunching derivative loss at one of the prominent local bank, refraining ease financial flow to industries, hefty losses by debt ridden companies and consistent parliamentary blockages to Central Bank’s rescue package were primary causes for the humongous fall of the banking stocks. The market sentiments went extremely bad as banking stocks were out of fa... -
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Uruguay economy braces for growth
Besides its long-standing political and juridical stability, the richness of its natural resources and the high social and educational level of its inhabitants, a sustained process of economic growth experienced in recent years has turned Uruguay into the “jewel of the region”. The Oriental Republic of Uruguay, a small country located in the south east coast of South America, has stirred up the interest and attention of the international community, due to its socio-economic, political and geographic characteristics that have made of it one of the most stable, reliable and safe economies in the Americas. Strategically located between Argen... -
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Expanding Taiwan
Trying to find a success story in the financial industry from the past few years can be nearly as difficult as trying to untangle the global economic mess. With so many firms lying in ruin, it is a surprise to come across one that has managed not only to grow in its home country, let alone entering foreign markets. Cathay Life, based in Taiwan and with a steady growth record since 1962, has achieved in the last five years a feat unheard of among its competitors: entering the larger China and Vietnam markets. The accomplishment owes thanks to the winning combination of strategic organisation, a well rounded risk management framework, strong cr...
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