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Cyber Threat: 71% of SMEs Unprepared for Cyber Risks

Small and medium sized businesses increasingly feel that they’re vulnerable to cyber threats but most aren’t prepared to meet them. A new survey from endpoint security specialist Webroot finds that 96 percent of businesses with 100 to 499 employees in the US, UK and Australia believe their organizations will be susceptible to external cybersecurity threats in 2017. But although they recognize the ... Read More »

Australian Risk Climate: Growth in Business Credit Demand Lifts, as Conditions and Confidence Improve

Business Credit Demand Index by Equifax (June 2017 Quarter):  Overall business credit applications rose +2.7% (vs June quarter 2016) Download Infographic Sydney, Australia, Thursday, 31 July 2017 –  The Quarterly Business Credit Demand Index by Equifax, which measures the level of business loan, trade credit, and asset finance applications, rose at an annual rate of 2.7% in the June quarter, compared to ... Read More »

Russia, China and India Intensify their Trading Relationships

The 21st St. Petersburg International Economic Forum (SPIEF), traditionally gathering leading politicians and representatives of business community globally, took place in St. Petersburg, Russia, in June 1–3, 2017. The Forum’s official programme was developed in collaboration with over 500 leading experts from Russia, Europe, the United States, Asia, and Australia – including academic institutions, development organizations, and business community from ... Read More »

IFC (World Bank Group) Helps Increase Access to Credit in the Kyrgyz Republic

IFC (World Bank Group) Helps Increase Access to Credit in the Kyrgyz Republic The IFC (World Bank Group) is helping the Kyrgyz Republic undertake a series of reforms to strengthen the country’s financial infrastructure and boost access to finance for borrowers, including small and medium enterprises. Since 2009, IFC’s advisory services team, part of the World Bank Group’s Finance and ... Read More »

China is Moving toward Fully Developed Credit Systems

Social Credit System Awareness Unified Social Credit Code System Industrial Credit system is Making Progress Enterprise Credit Management System becoming a Common Practice The Global Times reports that currently, in the Chinese society, the lack of credibility is still a very serious issue, which is an objective fact that we must face up to. At the same time, we should ... Read More »

Supply Chain Risk: Just 22% of Companies Address Child Labour in Supply Chain

Only 22% of companies are addressing child labour concerns in the supply chain, while only 23% are actively tackling climate change. The results of a new survey of business executives makes for sobering reading, given that there are more than 150 million children engaged in child labour around the world, and that scientists are predicting environmental Armageddon if carbon reduction ... Read More »

Russian Tax Authorities Scrutinize Counterparty Relationships to Identify the Use of Unjustified Tax Benefits – Require Tax Payers to Conduct Due Diligence on Counterparties

Russian Tax Authorities not only check tax returns.  They also check a company’s relationship with counterparties and the method of how a the company authenticates, evaluates and selects business partners Russian tax authorities examine specific links between counterparties (particularly if one counterparty/its shareholder has shares in another one/others, directly or indirectly, being a link in a chain of affiliated counterparties ... Read More »

Tightening of Short-term Business Loans in China Worries Some Analysts

The rate of short-term, non-financial corporate bank loans to companies in China has fallen in recent months to less than 1% from a high of 4.8% growth in January 2016.  The tightening—a result of Chinese policymakers’ shift to reduce debt in sectors with excess capacity like iron and coal production—is helping improve China’s overall creditworthiness, notes a recent report in ... Read More »

Credit Management Index (CMI) Could Begin Summer with Firm Rebound

The numbers in NACM’s June Credit Managers’ Index (CMI), which will be released Friday at nacm.org, are likely to reflect a strong monthly rebound in business conditions. The index has been on a roller-coaster ride over prior months, mirroring the volatility in many kinds of economic data streams. “The fact is that there are contradictory waves coursing through the economy as ... Read More »

Country Risk Climate: Asian Payments Situation Worsens

Companies in Asia are facing more overdue payments as the macroeconomic problems facing the region filter through the supply chain. In China, 80.6% of companies experienced overdue payments in 2015, with the the value of outstanding debt rising by 58.1% from 2014. In its annual corporate payments survey of Asia Pacific, credit insurance firm Coface quizzed 2,793 companies in eight ... Read More »

Technology Disruption: Opportunity and Threat Say Asian Businesses

Disruption could be an opportunity for businesses, say 78% of Asian businesses, according to a new survey by Thomson Reuters.  At the same time, at 51%, Asia recorded the highest proportion of respondents who said that technology disrupters could be a direct threat to their business model; with 42% of European and 47 % American businesses saying likewise. Thomson Reuters asked ... Read More »

Australian Risk Climate: Late Payments in Australia have Risen to their Highest Level since Q3 2014

Dun & Bradstreet Australia has published its quarterly report of Late Payments in Australia and key highlights below. This report provides a summary of how late entities pay for goods and services in Australia after payment is due. Late Payments provides a quarterly report with a breakdown according to sector, size, age and location of entities. Key highlights: Late payments ... Read More »

Russia Enhances its Public Sector Information (PSI) with Newly Launched Public Registers

In conjunction with its new regulatory framework:  Information Society (2011 – 2020), a number of new registers were recently launched in Russia: Securities Register: The Central Bank of the Russian Federation (Bank of Russia) approved the provision “On requirements to implementation of activities for maintaining the Register of securities owners (No. 572-P as of 27.12.2016). The document sets the requirements ... Read More »

Key Takeaways from the Belt and Road Forum

Recently the Belt and Road Forum hosted 28 world leaders and countless high-ranking officials in Beijing. Here are the key takeaways from the OBOR event. There will be even more money Through boosting the existing Silk Road Fund and re-arming the favoured policy banks, Xi Jinping has pledged an extra US$124bn in funding for the One Belt One Road (OBOR) ... Read More »

The Russian Bankruptcy Process Appears to Lose Effectiveness

Credit Risk Prevention: Verification is Better than Court Proceedings The current bankruptcy law has turned out to be untenable. The ability to recover assets through court action is constantly decreasing, the measures for financial rehabilitation do not work. The only effective way to protect assets is to check and monitor business partners.   Less bankruptcies, more outstanding claims:   According ... Read More »