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World Bank Boosts Support for Recovery in Ukraine

World Bank Boosts Support for Recovery in Ukraine

The World Bank’s Board of Executive Directors have approved three new projects for Ukraine amounting to US$1.48 billion. “The Ukrainian authorities have developed a comprehensive program of reforms, which they are committed to undertake with support from the World Bank Group,” said World Bank Group President Jim Yong Kim. “We are stepping up our assistance to Ukraine because we want to help improve the lives of people in the country and to achieve economic recovery at a crucial time...

26-05-2014 Banking and Finance Breaking News

World Bank Vice President for Africa to Visit Seychelles to Reinforce Ties

World Bank Vice President for Africa to Visit Seychelles to Reinforce Ties

The World Bank’s Vice President for the Africa Region, Mr. Makhtar Diop will visit Seychelles from May 24-27. Mr. Diop’s visit will build on recent development talks between the Government of Seychelles and the World Bank Regional Vice-President held in Washington DC in April, and further deepen the strong relationship between the two partners. “I’m delighted to make this trip to Seychelles, and I look forward to meeting the President and other members of the Government, Parliamentarians, and the people...

23-05-2014 Banking and Finance Breaking News

Asia's Small Firms Need More Nonbank Financing to Grow

Asia's Small Firms Need More Nonbank Financing to Grow

Small- and medium-sized enterprises (SMEs) are the backbone of Asia’s economies, but they need better access to finance to grow and generate badly needed new jobs for the region, says a new Asian Development Bank (ADB) report. “Most of Asia’s smaller firms are faced with difficulties in obtaining finance,” said Noritaka Akamatsu, Deputy Head of ADB’s Office of Regional Economic Integration, which produced the inaugural edition of Asia SME Finance Monitor, released today. “SMEs need to be able to...

10-04-2014 Banking and Finance Breaking News

AfrAsia, MasterCard and Infinia Launch Pioneering Travel Rewards Program

AfrAsia, MasterCard and Infinia Launch Pioneering Travel Rewards Program

AfrAsia Bank and MasterCard introduce Africa’s first travel rewards program offering real time booking on over 450 airlines and at 200,000 hotels to its World and Titanium MasterCard cardholders. In collaboration with Infinia Services & Solutions and MasterCard, this travel rewards program enables cardholders to earn XtraMiles whenever they swipe their World or Titanium MasterCard credit cards. This innovative product underpins further the bank’s unremitting commitment to creating value for its niche market and differentiating itself through unique products...

18-12-2013 Banking and Finance Breaking News

Developing Asia Growth Outlook Steady As Industrial Economies Firm

Developing Asia Growth Outlook Steady As Industrial Economies Firm

An improving growth outlook in Japan and the United States paired with stronger-than-expected performance in the People’s Republic of China (PRC) support a steady growth outlook for developing Asia, says a new Asian Development Bank (ADB) report. The Asian Development Outlook Supplement, released today, forecasts growth of 6.0% in 2013 for ADB’s 45 developing member countries, improving to 6.2% in 2014. The forecasts are unchanged from the Asian Development Outlook Update issued in October. “Despite uncertainties in the global...

11-12-2013 Banking and Finance Breaking News

ECB Comprehensive Assessment In Advance of Supervisory Role

ECB Comprehensive Assessment In Advance of Supervisory Role

Large banks to undergo risk assessment, asset quality review and stress test Exercise starts in November and will take 12 months Aims to foster transparency, to repair and to build confidenceThe ECB is announcing details of the comprehensive assessment to be conducted in preparation of assuming full responsibility for supervision as part of the single supervisory mechanism. The list of banks subject to the assessment is also being published. The assessment is an important step in the preparation of the...

23-10-2013 Banking and Finance Breaking News

ECB Launches Comprehensive Assessment of 124 EU Banking Groups

ECB Launches Comprehensive Assessment of 124 EU Banking Groups

The European Central Bank (ECB) has published first details of its comprehensive assessment. The assessment will include a total of 124 banking groups in the euro area, 24 of them German, and is to be concluded before the launch of the Single Supervisory Mechanism (SSM) in November 2014. Measured against total assets, the comprehensive assessment therefore covers around 65 % of the German banking sector. The ECB has stipulated a minimum ratio of 8 % of core tier 1...

23-10-2013 Banking and Finance Breaking News

Nakumatt Collaborates With Mastercard To Launch New Card To Over One Million Customers

Nakumatt Collaborates With Mastercard To Launch New Card To Over One Million Customers

Leading Regional East African retail chain Nakumatt Holdings Limited today launched the Nakumatt Global Prepaid MasterCard card, in partnership with Kenya Commercial Bank and Diamond Trust Bank. The new card, which is EMV compliant, replaces the current Nakumatt Cybercash loyalty smartcard and provides a range of enhanced benefits and security features. With the multicurrency Nakumatt Global Prepaid Mastercard card, existing Nakumatt smartcard holders will continue accumulating their smart points for all purchases made across Nakumatt outlets. Nakumatt Global Prepaid MasterCard...

23-10-2013 Banking and Finance Breaking News

Dubai International Financial Centre Unveils Updated Master Plan at Cityscape Global

Dubai International Financial Centre Unveils Updated Master Plan at Cityscape Global

Dubai International Financial Centre (DIFC), the financial and business hub connecting the region’s emerging markets with the markets of Europe, Asia and the Americas, presents its master plan at Cityscape Global. The new developments will add to DIFC’s world-class infrastructure and unique value proposition to meet the growing needs of regional and international clients. The latest plan is in line with DIFC’s long-term growth strategy and reflects the growing demand for space, from both existing and potential clients, who...

16-10-2013 Banking and Finance International Financial Centers News

Power Swaps Can Help Asia-Pacific Manage Daunting Future Energy Needs

Power Swaps Can Help Asia-Pacific Manage Daunting Future Energy Needs

Cross-border power exchanges can play a central role in helping Asia and the Pacific meet its booming demand for power, which is set to sharply outpace the rest of the world’s over the next two decades, says a comprehensive new report from the Asian Development Bank (ADB). “Our projections show the region will consume more than half the world’s energy supply by 2035, with electricity consumption more than doubling as economic growth and rising affluence drive demand,” said S...

16-10-2013 Banking and Finance Markets

Developing Asia Slowing Amid Global Financial Jitters

Developing Asia Slowing Amid Global Financial Jitters

Softer than expected economic activity in the People’s Republic of China (PRC) and India and jitters over the United States (US) quantitative easing (QE) program will weigh on Asia and the Pacific’s growth prospects in the near term, says a new Asian Development Bank (ADB) report. “Asia and the Pacific 2013 growth will come in below earlier projections due to more moderate activity in the region’s two largest economies and effects of QE nervousness,” said ADB Chief Economist Changyong...

16-10-2013 Banking and Finance Markets

PRC Growth Moderation Highlights Need to Quicken Structural Reforms

PRC Growth Moderation Highlights Need to Quicken Structural Reforms

Growth rates in the People’s Republic of China (PRC) in 2013 and 2014 will fall below earlier projections, highlighting the need to quicken structural economic reforms, says the Asian Development Bank (ADB). In an update of its flagship annual economic publication, Asian Development Outlook 2013, ADB revised down its 2013 gross domestic product (GDP) growth forecast for the PRC to 7.6% from 8.2% seen in April. For 2014, growth will slow further to 7.4% from the previous estimate of...

16-10-2013 Banking and Finance Markets

UK Digital Adspend Hits Record 6 Month High Of £3bn

UK Digital Adspend Hits Record 6 Month High Of £3bn

British consumers average 43 hours a month online – 1 in every 12 waking minutes¹ – and advertisers spent a record six-month figure of £3.04 billion to attract their attention, according to the latest Internet Advertising Bureau UK (IAB) Digital Adspend report, conducted by PwC, with UKOM-approved comScore consumer data. UKOM/comScore reveals that 22% of all UK internet time across computers, tablets and mobile phones is now spent enjoying entertainment online. Social networks and blogging now account for 12%...

16-10-2013 Banking and Finance Breaking News

Sopra Banking Software Named A ‘Leader’ in Gartner’s 2013 International Retail Core Banking Magic Quadrant

Sopra Banking Software Named A ‘Leader’ in Gartner’s 2013 International Retail Core Banking Magic Quadrant

Sopra Banking Software is proud to announce that in Gartner’s annual International Retail Core Banking (IRCB) ‘Magic Quadrant’, it is considered a leading company in core banking solutions, based on its ability to execute and completeness of vision. Gartner is a world-leading IT research and advisory company. Gartner’s IRCB ‘Magic Quadrant’ is widely held as an authority on the performance, achievements, scope and strategy of the world’s key players in the core banking market. The Magic Quadrant is important...

16-10-2013 Banking and Finance Technology News

HSBC Rolls-Out Talking ATMs

HSBC Rolls-Out Talking ATMs

HSBC today announces that it will roll-out talking ATMs in the UK to aid blind and partially sighted customers. The bank is investing in new machines and software across the UK. The roll-out began in 2012 and is ongoing, and new software which gives the ATMs the ability to ‘talk’ will be installed in early 2015. There are almost two million people in the UK living with sight loss, estimated to rise to 2.25m by 2020. Research shows that...

16-10-2013 Banking and Finance Technology News

WFP Launches E-Cards for Syrian Refugees in Lebanon with MasterCard’s Support

WFP Launches E-Cards for Syrian Refugees in Lebanon with MasterCard’s Support

As part of its massive humanitarian response to the Syrian crisis, the United Nations World Food Programme (WFP) is rolling out an innovative electronic voucher programme in Lebanon that will allow hundreds of thousands of Syrian refugees to meet their food needs and help boost the local economy. By the year’s end, some 800,000 refugees will be using these electronic cards – or “e-cards” – at participating shops in Lebanon under an initiative realized with the technical support of...

14-10-2013 Banking and Finance Technology News

The Ritz-Carlton, Dubai International Financial Centre Partners With Bloomingdale's-Dubai To Provide Luxury Shopping Experience

The Ritz-Carlton, Dubai International Financial Centre Partners With Bloomingdale's-Dubai To Provide Luxury Shopping Experience

A new partnership between two icons of luxury will provide a unique shopping experience for guests of The Ritz-Carlton, Dubai International Financial Centre. The five-star hotel, located in the heart of DIFC, has partnered with international retailer, Bloomingdale's-Dubai, to create a shopping package for guests who enjoy a weekend stay in one of the hotel's luxury suites. The new luxury hotel package, called 'Shop with You', will see guests of the hotel's Club, Premium and Royal Suites, enjoy a...

25-09-2013 Banking and Finance Breaking News

The International Banker: HSBC’S Best Service Awards Launched To Drive Service Excellence

The International Banker: HSBC’S Best Service Awards Launched To Drive  Service Excellence

HSBC announced the launch of HSBC’s Best Service Awards as part of its continuous drive to enhance service quality and to improve customers’ banking experience in Hong Kong. At the launch ceremony, Diana Cesar, HSBC’s Head of Retail Banking and Wealth Management for Hong Kong, said, “Customer service is at the heart of our business. We have been able to maintain our leading position in Hong Kong thanks in large part to our commitment to providing customers with...

26-09-2012 Banking and Finance Features

Markets

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Steady Growth For Developing Asia

Steady Growth For Developing Asia

Developing Asia will extend its steady economic growth in 2014 as higher demand from recovering advanced economies will be dampened somewhat by moderating growth in the People’s Republic of China (PRC), says a new Asian Development Bank (ADB) report. ADB’s flagship annual economic publication, Asian Development Outlook 2014 (ADO), released today, forecasts developing Asia will achieve gross domestic product (GDP) growth of 6.2% in 2014, and 6.4% in 2015. The region grew 6.1% in 2013. “Developing Asia is successfully...

14-04-2014 Banking and Finance Markets

Moderate Growth To Continue In People's Republic Of China In 2014, 2015

Moderate Growth To Continue In People's Republic Of China In 2014, 2015

Slowing investment growth and active implementation of structural reforms are expected to push economic growth slightly lower in the People’s Republic of China (PRC) in 2014, continuing a more moderate but still robust pace of growth, says a new Asian Development Bank (ADB) report. “The authorities are tightening credit growth and working to bring local government debt under control. At the same time, they have embarked on an ambitious reform agenda that will impact key areas of the economy,”...

04-04-2014 Banking and Finance Markets

Indian Growth To Pick Up In 2014 But Remain Below Potential

Indian Growth To Pick Up In 2014 But Remain Below Potential

The recent deceleration of economic growth in India appears to have bottomed out, but the economy will not reach its potential until remaining structural bottlenecks are overcome, says a new Asian Development Bank (ADB) report. “India’s capacity for more rapid growth over the long term is high, with a promising outlook for labor, worker skills, capital, infrastructure, and productivity,” said ADB Deputy Chief Economist Juzhong Zhuang. “But a serious effort on reforms is needed if the economy is to...

03-04-2014 Banking and Finance Markets

Firm Growth To Continue in Philippines - Job Creation Critical Challenge

Firm Growth To Continue in Philippines - Job Creation Critical Challenge

The Philippine economy is expected to continue its strong growth in 2014 and 2015 as it reaps the rewards of improving business confidence and rising investment, says a new Asian Development Bank (ADB) report. “While growth is forecast to slow from a very strong 2013, the economy will continue delivering well above its recent average growth rate this year,” said ADB’s Deputy Chief Economist Juzhong Zhuang. “The key challenge is to find ways to turn this strong performance into...

02-04-2014 Banking and Finance Markets

Indian Banking Industry to Emerge as the Third Largest in the World by 2020

Indian Banking Industry to Emerge as the Third Largest in the World by 2020

Banking assets in India account for 63 percent of the nation’s financial assets and play a crucial role in economic development. The central bank of India, which tightly regulates banking assets, is expanding the industry through financial inclusion and priority sector lending. This is increasing the rural and urban population’s access to banking services, reflected in the decline in the average population per branch from 15,600 to 12,500 in 2012 as penetration increases. New analysis from Frost & Sullivan, Competitive...

22-01-2014 Banking and Finance Markets

Reinvigorating Kenya’s Growth With a Dynamic Banking Sector

Reinvigorating Kenya’s Growth With a Dynamic Banking Sector

Kenya’s economy is estimated to grow at 5 percent in 2013, says the latest World Bank economic analysis. The growth rate, supported by consumption and investment, is higher than the 4.6 percent recorded in 2012. Although Kenya has a history of low growth during election years, the economy remained stable after the March 2013 general election. “Maintaining a stable growth rate is encouraging as Kenyans celebrate their 50th independence anniversary,” says Diarietou Gaye, World Bank Country Director for Kenya. “One...

11-12-2013 Banking and Finance Markets

World Bank Supports Reconstruction and Livelihoods Recovery in Samoa

World Bank Supports Reconstruction and Livelihoods Recovery in Samoa

The World Bank’s Board of Executive Directors yesterday approved two grants totaling US$25 million to the Government of Samoa to help rebuild critical roads and bridges and to restore agricultural and fishery livelihoods for thousands of subsistence farmers whose crops and farms were damaged during Tropical Cyclone Evan (TCE). “These two grants support the Government of Samoa’s recovery framework to accelerate reconstruction and recovery and to help ensure the country is better prepared for dealing with disasters in the...

21-10-2013 Banking and Finance Markets

$44 Billion a Year Needed to Protect PRC Infrastructure from Extreme Weather

$44 Billion a Year Needed to Protect PRC Infrastructure from Extreme Weather

More than one million people living in the coastal areas of the People’s Republic of China (PRC) could be displaced, with a landmass four times the size of Hong Kong, China submerged by 2050, if the country does not take action to prepare for rising sea levels and more intense cyclones, a new report from the Asian Development Bank (ADB) warns. The report estimates that climate proofing of all infrastructure in the PRC, including roads and drainage, would cost...

21-10-2013 Banking and Finance Markets

Singapore Inflation Expectations Trending Downwards Amid Continued Uncertainty

Singapore Inflation Expectations Trending Downwards Amid Continued Uncertainty

Singapore consumers are expecting inflation to continue on a downward trend in the next one to five years in Singapore and the region, according to the latest findings of the SKBI-MasterCard Singapore Index of Inflation Expectations (SInDEx). This is partly due to moderation in imported inflation owing mainly to subdued demand and weak growth in regional economies such as China and India. The SInDEx, which was jointly developed by Singapore Management University’s Sim Kee Boon Institute for Financial Economics...

21-10-2013 Banking and Finance Markets

Power Swaps Can Help Asia-Pacific Manage Daunting Future Energy Needs

Power Swaps Can Help Asia-Pacific Manage Daunting Future Energy Needs

Cross-border power exchanges can play a central role in helping Asia and the Pacific meet its booming demand for power, which is set to sharply outpace the rest of the world’s over the next two decades, says a comprehensive new report from the Asian Development Bank (ADB). “Our projections show the region will consume more than half the world’s energy supply by 2035, with electricity consumption more than doubling as economic growth and rising affluence drive demand,” said S...

16-10-2013 Banking and Finance Markets

Developing Asia Slowing Amid Global Financial Jitters

Developing Asia Slowing Amid Global Financial Jitters

Softer than expected economic activity in the People’s Republic of China (PRC) and India and jitters over the United States (US) quantitative easing (QE) program will weigh on Asia and the Pacific’s growth prospects in the near term, says a new Asian Development Bank (ADB) report. “Asia and the Pacific 2013 growth will come in below earlier projections due to more moderate activity in the region’s two largest economies and effects of QE nervousness,” said ADB Chief Economist Changyong...

16-10-2013 Banking and Finance Markets

PRC Growth Moderation Highlights Need to Quicken Structural Reforms

PRC Growth Moderation Highlights Need to Quicken Structural Reforms

Growth rates in the People’s Republic of China (PRC) in 2013 and 2014 will fall below earlier projections, highlighting the need to quicken structural economic reforms, says the Asian Development Bank (ADB). In an update of its flagship annual economic publication, Asian Development Outlook 2013, ADB revised down its 2013 gross domestic product (GDP) growth forecast for the PRC to 7.6% from 8.2% seen in April. For 2014, growth will slow further to 7.4% from the previous estimate of...

16-10-2013 Banking and Finance Markets

EMEA Ratings Movement Continues To Be Dominated By Sovereign Crisis

Aon Benfield have launched its annual Evolving Criteria report, which reviews the latest developments in rating agency protocol and impact for the insurance industry in the Europe, Middle East and Africa region. The report highlights key changes in the rating agency world including the Eurozone sovereign ratings landscape, the Standard and Poor’s (S&P) new insurers rating methodology and the impact of Solvency II. As the Eurozone crisis continues in 2013, the report notes that Fitch, Moody’s and S&P downgraded...

09-09-2013 Banking and Finance Markets

BofA Merrill Lynch Fund Manager Survey Reports Surge in Investor Confidence on Global Growth Outlook

Global investors have become significantly more confident in the outlook for growth, according to the BofA Merrill Lynch Fund Manager Survey for August. A net 72 percent of respondents now expect the world’s economy to pick up over the next 12 months – the survey’s strongest reading on this measure in nearly four years and a striking rise from July’s net 52 percent. Investors remain concerned over a “hard landing” in China, though this has calmed since last...

16-08-2013 Banking and Finance Markets

Renminbi Globalisation Index up 4.8% in June

Standard Chartered today announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI ), or the RGI, reached 1,050 in June, up 4.8% from the previous month and up 65% year-on-year, withstanding macro and market uncertainties. The rise was mainly driven by a rise in CNH FX turnover, offsetting a mild reduction in Renminbi-denominated cross-border payments through Hong Kong and Singapore on the back of falling Chinese exports in June. Primary issuance of offshore Renminbi bond market in July...

16-08-2013 Banking and Finance Markets

Investors expect FTSE to rise more than 5% in 2013 but remain divided on UK growth outlook

Halifax Share Dealing surveys investors to establish what impacts their investment strategies and where they are investing With the latest ONS figures showing the UK economy shrank 0.3% during Q4 2012, the latest Halifax Share Dealing Market Tracker reports investors are split 50:50 on whether the economy will grow by more than 1% in 2013.

15-03-2013 Banking and Finance Markets

Industrial Hemp and Medical Marijuana Industry Hits All-Time High in 2013

Recent activity in the markets has pushed the industrial hemp and medical marijuana sectors to new heights, setting a record volume of Hemp, Inc.'s (OTC: HEMP) traded shares of 70,226,200 this past week. Hemp, Inc. (OTC: HEMP), the industry leader that led the last growth curve back in 2009 with a 480% increase, is, again, leading the industry in 2013 as its CEO, Bruce Perlowin , predicted. According to Perlowin, the pioneer of the industry, the last spike...

04-02-2013 Banking and Finance Markets

European IPO Markets Enjoy Second Wind After Olympics

In Q3 2012, PwC’s IPO Watch Europe survey reported 57 IPOs raising €4.4bn, compared with 81 IPOs raising €0.7bn in Q2 2012 and 121 IPOs raising €9.4bn in Q3 2011. The third quarter was dominated by the listing and capital raising of Sberbank, the largest commercial bank in Russia, which raised €4.0bn in September. The traditional IPO indicators, such as market volatility and stock market indices, have improved as the quarter progressed leading to some encouraging signs as we enter...

20-10-2012 Banking and Finance Markets

Scotland’s Private Sector Economy Contracts Slightly in September

September’s Bank of Scotland PMI report showed private sector output north of the border decrease for the first time since December 2010, reflecting a sustained fall in incoming new work. Employment levels were kept broadly steady over the month, while excess capacity was signalled by a further reduction in backlogs. Businesses also took a hit on the costs front, as input price inflation accelerated to the fastest since January on the back of rising fuel and commodity prices...

19-10-2012 Banking and Finance Markets

FirstBank Urges Enabling Framework for Infrastructure Financing

An enabling framework is critical to the success of Public-Private Partnership {PPP} models in transportation infrastructure financing and development in Nigeria, Mr. Kehinde Lawanson, Executive Director, Corporate Banking, First Bank of Nigeria Plc has said. Speaking at the recently concluded US-Nigeria Infrastructure Conference in Washington DC, Lawanson said achieving the above would enhance the participation of more organisations from the private sector as well as attract foreign investments needed to address the nation’s huge infrastructure deficits. The event which...

18-10-2012 Banking and Finance Markets

Expat Life

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Impact Of Cyprus Banking Crisis Minimal For Expats

Impact Of Cyprus Banking Crisis Minimal For Expats

The headlines were full of the woes of the Cypriot economy in March this year, but much of the predicted hardship has bypassed expatriates living on the island. Customers of the two biggest banks in Cyprus saw millions of euros stripped from their savings and austerity measures put in place. The €10 billion (£8.4 billion) bailout by the European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) was newsworthy, but what of the expats on...

24-12-2013 The International Banker Expatriate Life

QNB Launches Al-Safwa Services for Qataris and Egyptians in Doha

QNB Launches Al-Safwa Services for Qataris and Egyptians in Doha

QNB- the World’s Strongest Bank- announced the launch of “Al- Safwa” services that provides an innovative gatewayand a one-stop shop solution for Egyptians Expatriates living in Doha and for QNB First Qatari citizens. The new service also builds on the successful acquisition of a controlling stake of 97.12% in its QNB Al Ahli operations in Egypt (formerly NSGB). Said Heba Al-Tamimi, General Manger, QNB Group Retail Banking said “Whether you are a Qatari citizen or an Egyptian resident expat in...

20-12-2013 The International Banker Expatriate Life

Hong Kong and Singapore see Luxury Rents Fall

Hong Kong and Singapore see Luxury Rents Fall

Two of the most expensive cities in Asia for apartment rental - Hong Kong and Singapore - are seeing the cost of living in luxury homes drop. This is the third consecutive year that rental prices have declined, due to expatriate workers seeing their budgets cut, reports Bloomberg. Several of the big banks in the region are decreasing their numbers of investment banking positions as a result of China's slowing economy and employees are seeing their expenses being...

23-10-2013 The International Banker Expatriate Life

Interdean Celebrates UK Immigration Improvements

Interdean Celebrates UK Immigration Improvements

It has been reported in Workpermit.com that the report identifies and celebrates the improvements made to the service it offers to applications for UK visas such as Tier 2 skilled worker visas, Tier 4 student visas and Tier 1 “high value migrant workers”, since previous visits in 2010 and 2012. Comprising the findings of a collection of spot checks made by himself and his team to Home Office facilities in Croydon, Manchester and Loughborough, Mr Vine’s report reveals...

09-09-2013 The International Banker Expatriate Life

Offshore Bank Closures Does Not Harm Expat Finance Options

Offshore Bank Closures Does Not Harm Expat Finance Options

According to Expatforum.com, the Bank of Ireland has closed its offshore banking branch on the Isle of Man. This makes the Bank of Ireland just the latest in a series of high street banks that have opted to close their offshore branches. Previous banks to have exited the market include; AIB International, Clydesdale International, Yorkshire Guernsey and Bradford & Bingley International. David Retikin, Director of Operations at Pryce Warner International Group, commented: “The past several years have seen...

09-09-2013 The International Banker Expatriate Life

Success of Malta’s Financial Services Marks it as Premier QROPS Jurisdiction

Success of Malta’s Financial Services Marks it as Premier QROPS Jurisdiction

Pryce Warner International Group have provided QROPS overseas pensions since their inception seven years ago, and advise that the success of Malta’s financial services shows that it is the best jurisdiction for QROPS. QROPS offer Expats a secure way to grow their nest egg. Malta has really taken off, with almost 300 providers immediately flocking there from Guernsey last year. According to Iexpats, financials service providers have been moving to Malta in such large numbers that the...

15-03-2013 The International Banker Expatriate Life

Visas Issued to Foreign Entrepreneurs to Create UK Businesses and Jobs Double

Visas Issued to Foreign Entrepreneurs to Create UK Businesses and Jobs Double

The number of ‘entrepreneur visas’ issued to allow foreign nationals to create new UK businesses and jobs has more than doubled in one year,leaping to 462 last year from 199 the year before*, says Pinsent Masons, the international law firm. Pinsent Masons explains that entrepreneur visasallow foreign nationals to start a business in the UK and earn a fast-track to UK citizenship if they can fulfil strict criteria on access to funding, job creation, or business success**...

11-03-2013 The International Banker Expatriate Life

Canadians are Snapping Up Dominican Republic Real Estate

Canadians are Snapping Up Dominican Republic Real Estate

Many Canadians are living life differently with the help of Edmonton-based Dominican Republic Real Estate agents, DR Properties. Buying villas or condos for two-week jaunts to the DR or for a more permanent stay, DR Properties' clients are choosing to "Say No to Snow!"

11-03-2013 The International Banker Expatriate Life

UK Government Driving Pension Pots Overseas

UK Government Driving Pension Pots Overseas

Pryce Warner International – PensionAge report that more and more British people approaching retirement are opting to transfer their pension pots outside of the UK. The principal reason for this is to protect them against policies being enacted by the Bank of England (BoE). One such policy is quantitative easing, which has pushed annuity levels to record lows. Many overseas pension schemes, like QROPS, do not require individuals to purchase an annuity. DeVere Group, an independent advisory...

11-03-2013 The International Banker Expatriate Life

Expats Struggling to Secure Mortgages

Expats Struggling to Secure Mortgages

Pryce Warner International Group have seen a significant increase in the amount of enquiries from expats for mortgages since Lloyds Banking Group stopped offering mortgages to expats last November. According to the Telegraph, Lloyds withdrew its expat service, including Halifax and BM Solutions products, as part of a group-wide review last year. A Lloyds spokeswoman said: "Lloyds Banking Group is undertaking a review of its mortgage proposition for expat customers. Whilst this review is on-going, mortgages and...

11-03-2013 The International Banker Expatriate Life