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Corporates warm to Chile
Chile’s Global Services industry has grown over 86 percent in the last 3 years putting Chile as the regional leader in this industry. More than 60 world-class companies have chosen the country because of the outstanding pro business environment, talent pool and government support. Given the growing dynamism of this industry and the success stories of countries such as India and Ireland, in 2000 Chile began promoting foreign investment in high technology, highlighting the political and economic stability of the country, its modern telecommunication infrastructure, and the skills of its human resource. As a result, the global services industr... -
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Rio CEO seeking BHP iron ore approval
Global miners BHP and Rio expect the iron ore joint venture in Western Australia will fail to get regulatory approval, the Sydney Morning Herald reports. The joint venture would generate $5bn in cost savings annually for BHP and comes as the world’s largest diversified miner launches a $39bn hostile bid for Potash Corp. Albanese, speaking to reporters on the sidelines of an industry conference in Shanghai, said the technical arguments for the iron ore joint venture remained strong. “The synergies are worth striving for, we’re going to continue to strive to attain those synergies,” Albanese said. “We’re going to do everything we ca... -
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BVI expands services
Over the last 30 years, the BVI has established itself as a leading offshore financial centre, offering one of the most sophisticated and convenient frameworks for international businesses. The business environment is supported by a sound legal system, efficient and efective regulatory environment, stable government and quality infrastructure. Over the last two decades the BVI has worked to diversify its financial service products and has seen strong growth in the areas of trust and estate planning, mutual funds and captive insurance. By recent estimates, 50 percent of all currency transactions processed internationally involve offshore finan... -
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Bank targets future generation
After more than a century of relentlessly meeting and satisfying customers’ needs, FirstBank of Nigeria Plc (FirstBank) has continued to adapt and innovate to meet the different challenges and opportunities presented by different generations of customers, competitors and other stakeholders, thus assuring not only its longevity but also sustaining its market leadership. With over 5 million customers, ten financial subsidiaries, 581 locations in Nigeria, and presence in the UK, France, South Africa and China, the bank is arguably the country’s most diversified full-suite financial services group. The aspiration of its holistic brand transfo... -
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Shift to Shankong
The heart of the main retail district in Seoul could hardly be more different than that of western cities. Instead of competing businesses being dispersed among outlets selling non-competing products as you’d find elsewhere, in South Korea’s capital city they are all congregated together. Standing side by side on the main retail strip – the Jongno road – are dozens of businesses selling car parts, dozens more selling lighting products or textiles or electrical fittings or homeware. And further down the road, one of the oldest east-west thoroughfares in the city, there’s an old, multi-level department store standing directly in front... -
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Transforming business
Some companies like to think big and move fast. Aabar Investments PSJC, based in Abu Dhabi in the UAE, shows how it is done. Incorporated in 2005 with a mandate to develop an oil and gas business focusing on exploration and production, Aabar has since transformed itself into a global investment fund with holdings in real estate, automotive, financial services, infrastructure and transportation. “Was this transformation part of the plan from the company’s inception?” asks Mohamed Al-Husseiny, Aabar’s Chief Executive Officer. “Not at first. It was an evolution. Eventually, hydrocarbon assets were shed and put to work in a more profita... -
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Businesses turn to balkans platform
Montenegro is certainly one of the most interesting spots in the world. Even though it only covers around 14,000 km2 and it only has about 650,000 citizens, its contribution to the World cultural heritage is impressive compared to its size. Montenegro is a Southern European and a Mediterranean country. Its landscape combination of mountains, deep valleys, natural ice lakes, sandy beaches and attractive islands is breathtaking. Since regaining its independence in 2006, Montenegro has proved to be a safe, politically stable and economically viable state with the potential to grow rapidly. The country has signed the Stabilisation and Association... -
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Brazil reforms corporate governance
During a period of recession that has hit most of the world’s influential economies, Brazil has still managed to develop a strong corporate governance programme that builds on legislation changes and promises to protect the country should future global financial problems occur. Deloitte has worked hard in building Brazil’s corporate governance, a process which is designed to withstand another battering from a global recession, strengthen the country’s long term financial security and produce an economy that is attractive to investment. The reputation and status worldwide enjoyed by Deloitte for being innovators in their market has seen ... -
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Family banker to familiar entrepreneur
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 percent Core Capital and Tier 1 as at December 2009). Its non-performing loan ratio is one of the lowest in the Spanish financial system (2.82 percent in 2009), namely due to the excellent quality of its investment portfolio, and it has a high allowance coverage ratio for insolvencies (97.20 percent), in accordance ... -
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Bovespa-based bank expands loan porfolio
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 as one of the most profitable among its peers. Clients’ needs at Banco PINE are assessed on an individual basis, as are credit risks, resulting in personalised solutions. The agility and creativity when serving clients are the main features of the bank and were achieved thanks to the management model c...
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