Sunday, February 26 2017 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
Updated: 2 hours 47 min ago
“The second half of 2016 marks the beginning of the transformation of Coface. We delivered a net profit of €41.5m in the year, successfully closed the transfer of our French State export guarantees activity, and launched our 3-year strategic plan, Fit to Win, the (...)
As part of the implementation of the three-year strategic Fit-to-Win plan, aimed at positioning Coface as the most agile global credit insurer on the market, changes are to be made to the Group's Executive Committee, effective from 3 April 2017.
Payment experience affected by the bleak economic scenario. 75% of interviewed companies received payment extensions requests from their clients;
Despite the recent economic upturn, uncertainties will continue to dominate the global economic climate this year.
Four major risks for 2017 but some positives points...
Coface’s payment survey confirms that sales on credit are being extensively used by Polish companies. Although credit periods have become common practice, it does not mean that receivables are being paid on time.
In line with previous communication, Coface has ceded its State export guarantees activity to the French public investment bank, Bpifrance.
South Africa’s economy challenged by crises in agriculture and mining, amid fears of an investment downgrade
Concerns over the country’s economic performance have been amplifying, due to its prolonged economic decline since 2011 (...)
After a series of shocks in 2015 and 2016, Turkey’s economy is coming to the end of its new “Tulip era”
Greater political uncertainty resulting from two parliamentary elections in 2015, drying global liquidity due to the US Federal Reserve’s rate hike process and the weaker Turkish lira, all contributed to dragging down growth.
Taxi company insolvencies in France increased by nearly 60% in one year, rising from 141 cases in August 2015, to 224 at the end of August 2016 and resulting in the loss of 3.38 jobs on average (...)
The signs for Germany’s further economic development are promising, with a high level of stability. Coface’s expectations for solid growth therefore come as little surprise.
At the end of 2016, global sector trends remained mixed, including in the regions that until now have been relatively spared by the increase in risks. Over the whole year, across 12 sectors evaluated in six regions of the world, nearly half saw their assessments change. There were 23 downgrades for 10 upgrades.
Why did the yen depreciation, which occurred during the early success of the first arrow, not boost Japan’s merchandise export volumes?
In the 2nd Quarter of 2016, seasonally adjusted activity decelerated to 1.5 %, down from 2.5% y/y reported in the previous period. Industry, which shrank by 1.5% q/q, was the main contributor to this weak result, due to the fall in oil production and challenges faced by manufacturing and construction industries. The services sector also slowed during the period, to a growth rate of 2.4% YoY, down from 3.4% for 1Q2016.
At its meeting on 3 November, the Board of Directors of COFACE SA co-opted Isabelle Rodney, Member of the Executive Board of Caisse d’Epargne Côte d’Azur, and Anne Sallé Mongauze, Chief Executive Officer of the Compagnie Européenne de Garanties et Cautions, as directors of the Board of Directors of COFACE SA.