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Russian Small Business Community is Poised to Take on a Larger Share of the Economic Activity

Small business accounts of 30% of the annual revenue of Russian businesses.  This assessment is based on an analysis by Credinform Russia of financial statements of the fiscal year of 2016. Since the beginning of market reforms in Russia, economists have argued about the important role of small business in the development of the domestic economy, as exemplified by other ... Read More »

Risk Management: Data Breach Cover-up a new Form of Credit Risk

Uber concealed a massive global breach of the personal information of 57 million customers and drivers in October 2016, failing to notify the individuals and regulators, the company acknowledged on Tuesday 21st November. Uber confirmed it had paid the hackers responsible $100,000 to delete the data and keep the breach quiet. Uber also disclosed that hackers had stolen 57 million ... Read More »

New Q3 2017 TransUnion Industry Insights Report Reveals Latest Consumer Credit Trends

As Black Friday Nears, a Record 196 Million Consumers Now Have Access to Various Forms of Credit Cards and Other Revolving Lines of Credit New Q3 2017 TransUnion Industry Insights Report reveals latest consumer credit trends With the holiday shopping season officially kicking off during Black Friday next week, TransUnion’s (NYSE: TRU) just released Q3 2017 Industry Insights Report found that ... Read More »

Transparency at its Best: The Paradise Papers

After the Panama Papers we now have the Paradise Papers: The world’s biggest businesses, heads of state and global figures in politics, entertainment and sport who have sheltered their wealth in secretive tax havens are being revealed this week in a major new investigation into Britain’s offshore empires. The details come from a leak of 13.4m files that expose the ... Read More »

Embracing New Technology: More Small Businesses Taking Credit/Debit Payments

Small business owners look like they’re embracing new technologies when it comes to the types of payments their businesses will accept, allowing more in-person credit and debit card payments using point-of-sale terminals. According to the latest Wells Fargo/Gallup Small Business Index conducted in early October, 39% of business owners now accept credit or debit card payment, up from 31% in ... Read More »

US Credit Climate: The Return of the HELOC

The Number of Consumers Opening HELOCs May Double During the Next Five Years.  New TransUnion study sees interest in HELOCs rising Approximately 10 million consumers are expected to originate a home equity line of credit (HELOC) between 2018 and 2022. This would more than double the 4.8 million HELOCs originated in the previous five-year period (2012-2016). The projection is part ... Read More »

USA Risk Climate: Consumer Credit Surges in September

USA consumer credit use moved up 6.6% year-over-year in September.  Non-revolving credit was up 6.3% and was growing at an annualized rate of 5.6%. Revolving credit rose by a healthy 7.7% year-over-year and was up at a 5.5% annualized pace. There’s a lot of speculation about what to make of this – and you’ll hear 5 different viewpoints if you ... Read More »

Credit Risk Management in the UAE: The Skip Phenomenon

The UAE is home to over 200 nationalities and a population of 9 million people, of which approximately 75% to 85% are expatriates. The country’s cultural diversity and cosmopolitan character have been major factors in attracting expatriates as well as tourists; however, its ever-evolving population also presents a risk to the credit industry that is not common in other marketplaces ... Read More »

USA Risk Climate: Business Confidence Grows

Businesses Report Greater Confidence in Their Likelihood to Grow Over the Next 12 Months However, Demand for Financing Trending Down More U.S. businesses are reporting profits and increased hiring, with greater confidence in their ability to grow over the next 12 months; but demand for financing is trending down, according to new results from the third quarter 2017 Private Capital Access (PCA) ... Read More »

P3 Projects in China Rise at Steep Pace

Public-private partnerships (P3s) in China that are used to build up infrastructure, among other projects, have been increasing in number and investment value as more projects are set to be implemented this year, according to a new report by Moody’s Investors Service. “Support from the central government has resulted in positive regulatory developments in China’s Public-Private Partnership (PPP) framework, thereby ... Read More »

Transparency in Russia: “Incorrect Company Register Data” May be Used as a Primary Reason to Dissolve Legal Entities

According to the Federal Law #67-FZ of 30 March, 2015 Russian Tax authorities are entitled to check the correctness (reliability) of company data of registered and to be registered companies in the Unified State Register of Legal Entities (EGRUL Register maintained by the Federal Tax Service of Russia). As of September 1, 2017, the Federal Law #488-FZ of 28 December, ... Read More »

US Business Climate: Small Business Optimism Takes a Dive

Led by a severe drop in sales expectations across the country, the Index of Small Business Optimism from the National Federation of Independent Business (NFIB) slid from 105.3 to 103 in September. “The temptation is to blame the decline on the hurricanes in Texas and Florida, but that is not consistent with our data,” said NFIB President and CEO Juanita ... Read More »

Trade Finance Revenues Hit Seven-year Low

Global trade finance revenues reached their lowest level in seven years, with a 5% decline year-on-year for the first half of 2017. Total trade finance revenues for the ten largest global transaction banks (Bank of America Merrill Lynch, Barclays, BNP Paribas, CITI, Deutsche Bank, HSBC, JP Morgan, Société Générale, Standard Chartered and Wells Fargo) fell to US$2.8bn compared to US$2.9bn in ... Read More »

US Credit Climate: Small-Business Optimism Heads for Record Levels

A surge in capital spending and high sales expectations have caused a streak of historically high performances dating back to November to continue in the Index of Small Business Optimism from the National Federation of Independent Business (NFIB).  The percentage of small-business owners who plan to make capital expenditures in the near term is at its highest level since 2006. ... Read More »

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 »