Economy

Economy · 10. August 2020
The number of filed bankruptcy petitions also decreased month-on-month. In July this year, 54 bankruptcies of commercial companies, 605 bankruptcies of natural persons, entrepreneurs and 1,391 personal bankruptcies were declared. The number of bankruptcies thus decreased month-on-month. At the same time, 53 petitions for the bankruptcy of companies, 570 petitions for the bankruptcy of natural persons and entrepreneurs and 1,508 petitions for personal bankruptcy were filed. The number of...

Economy · 10. August 2020
It is expected that the Russian economy will face a wave of bankruptcies in the next 6 months. The reason - the end of the moratorium on bankruptcy introduced on April 1, 2020 due to business activity deceleration resulting from the impact of Covid-19. Realizing the scale of future damage, the Government of Russia suspended the initiation of insolvency proceedings for 6 months in order to avoid mass company liquidations. Along with the moratorium, restrictions are introduced that directly...
Economy · 21. July 2020
Among the most resilient sectors (Top) are the Pharmaceutical, TLC, ICT and Media, Chemical, and Consultancy sectors. Among the most affected (Bottom) are the Tourism/Leisure, Motor Vehicle Trade, Mining/Oil & Gas, Civil Engineering, and Construction sectors. The expected rebound in 2021 will allow a recovery in turnover and margins, but not enough to return to pre-crisis levels. In order to investigate the economic and financial effects of the COVID-19 emergency on businesses, CRIF has...

Economy · 21. July 2020
After a lot of debate, Vietnam’s amended Investment Law, which has been passed, will be effective on 1 January 2021. Accordingly, debt collection services will be banned. In the course of discussing the draft law, many people proposed to prohibit "debt collection service business". Some suggested not prohibiting the service by changing its name to "loan collection service business". However, after asking for opinions of National Assembly deputies, the National Assembly decided to ban...

Economy · 09. July 2020
During the first half of the year, in Czech Republic there are one third more entrepreneurs if compared to one year ago. In June, 4,884 people started doing business in the Czech Republic and 1,652, on the other hand, revoked their business license. In total, 3,232 new entrepreneurs are registered in June, which is the highest number since January 2012. The reason is the very low number of closed trades. While the number of new entrepreneurs is close to the values before the spring closure of...

Economy · 09. July 2020
Credinform Rus: The Court of Arbitration does increasingly become a tool for settlements of debt in Russia Every 10th case returns to the applicant without consideration. It means that many Russian companies try to recover bad debts through an arbitration but withdraw cases as the claim amount was settled before legal action started in practice.

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...

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...

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...

Economy · 01. June 2020
Vietnamese consumers continue to pay the greatest attention to health In the first quarter of 2020, among Vietnamese consumers' top 6 concerns, there came the welfare and well-being of their parents, with 10% of respondents saying they were worried about that, according to the latest update of The Conference Board's global consumer confidence index survey conducted in collaboration with Nielsen. “Since the Tet holiday, schools have been closed, many parents have not only struggled with having...

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