Economy · 07. July 2020
Zurich, 2nd July 2020 – 10,539 new businesses were set up in the 2nd quarter of 2020, which represents a decline of 5.3% compared with the previous year. Ticino and Geneva suffered declines of 22% and 21% respectively, but a record total of 4486 company start-ups were also reported in June. CRIF AG has looked at how many new businesses were established in the 2nd quarter and how many companies went out of business. All in all, 11,413 companies were set up in Switzerland during this time. This...
Country report · 03. July 2020
THE COVID-19 EPIDEMIC HAS CAUSED VIETNAMESE PEOPLE TO CHANGE THEIR CASH USE HABITS. BESIDES, DISCOUNT POLICIES OF ONLINE PAYMENT CHANNELS HAVE ALSO CONTRIBUTED TO THE STRONG GROWTH IN CASHLESS PAYMENT ACTIVITIES. As of May 2020, there had been 34 companies licensed to provide intermediary payment services in Vietnam, of which more than 20 are e-wallets associated with an active bank account. The frequency of use and average daily spending value via e-wallets are recorded to be really high....
Members News · 02. July 2020
Cedar Rose, based in Cyprus, Lebanon and the United Arab Emirates, has been crowned the winner of the CCRi Credit Collections & Risk 2020 Credit Excellence award in the ‘Export & International’ category. The virtual announcement was released on the 24th of June 2020 following a webinar organized by the UK based media organization, CCR Interactive. The judges said that “The applications showed the professionalism of people and organisations in International Credit” Managing...
EU Newsletter · 01. July 2020
The EU is temporarily adapting banking rules in order to maximise the capacity of banks to lend money and support households and businesses to recover from the COVID-19 crisis. The banking package adopted today provides targeted and exceptional legislative changes to the capital requirements regulation (CRR 2). These changes will allow credit institutions to fully play their role in managing the economic shock that stems from the COVID-19 pandemic by fostering credit flows. More specifically,...
Economy · 19. June 2020
We are gradually returning to a state of normality, which, while not new, will be different. Beyond the landscape of faces at a distance of one and a half metres and covered by masks, the business world is obviously faced with limitations in terms of capacity, protective screens and constant cleaning and disinfecting of fitting rooms, chairs, tables and premises. What is not so obvious is that it will live pending the evolution of consumption, a possible new closure of the financing flow and...
FEBIS · 18. June 2020
The PSI and Open Data review directive which has been adopted last year is opening the possibilities to access and reuse data held by public sector, which is a great improvement in data access. Article 13 of the Directive mandates the EU to put in place High Value Datasets which should be available as open data and free of charge in the Internal Market, and one of categories identified as High Value Dataset is company and company ownership information. The European Commission is currently...
Insolvencies · 18. June 2020
Business insolvencies in Western Europe at 10-year low The number of corporate insolvencies in Western Europe (EU-15 plus Norway and Switzerland) declined further in 2019. The total, 163,548, represented the lowest level for ten years. Compared with the previous year (165,213 cases), the decrease was 1.0 percent. However, only six of the 17 countries surveyed recorded a reduction in their insolvency volumes – but these included large economies like France, Germany and the United Kingdom. The...
Economy · 18. June 2020
Companies in Rhineland-Palatinate with the greatest delay in payment There are regional differences in the average late payment. Companies in Rhineland-Palatinate overdraw the payment deadlines the most - on average by 56 days. Companies in Bremen (average delay 45 days) and Hamburg (43 days) also pay bills with a severe delay. The best situation is in Saarland, where companies pay on average 25 days late. The worst payment behaviour is currently evident in the cultural, entertainment and...
EU Newsletter · 06. June 2020
Digital EU unveils its consultation on the Digital Services Act Package The Commission launched on June 3rd, 2020 its awaited public consultation on the Digital Services Act. The consultation, open until 8 September, covers issues such as safety online, freedom of expression, fairness and a level-playing field in the digital economy. Executive Vice-President Margrethe Vestager said: “The Internet presents citizens and businesses with great opportunities, which they balance against risks that...
FEBIS · 02. June 2020
Febis Regulatory Committee has worked over the past weeks on a submission to the EU consultation on the EU Data Strategy unveiled by the Commission early 2020. In this submission paper, Febis insists on major points that are of great importance for credit and business information providers in terms of data access, data quality, fair competition, and technological adaptation. The paper thus outlines the need to foster access to data and the need not only to invest in data infrastructures , but...