UNICREDIT FACTORING S.p.A. ITALY UNICREDIT TIRIAC BANK - ROMANIA

Size: px
Start display at page:

Download "UNICREDIT FACTORING S.p.A. ITALY UNICREDIT TIRIAC BANK - ROMANIA"

Transcription

1 UNICREDIT FACTORING S.p.A. ITALY UNICREDIT TIRIAC BANK - ROMANIA Factoring in crisis times an opportunity? Italian & Romanian Markets outlook Presentation for Bucharest Conference: HOW TO FINANCE YOUR BUSINESS THROUGH FACTORING Alessandro Bertoldo Head of International Dept. UniCredit Factoring S.p.A. - Milan Bucharest, October 6 th, 2009

2 AGENDA INTERNATIONAL FACTORING MARKET AND UNICREDIT GROUP ABOUT ITALIAN FACTORING MARKET ABOUT ROMANIAN FACTORING MARKET PRODUCTS & SERVICES PROVIDED 2

3 AGENDA INTERNATIONAL FACTORING MARKET AND UNICREDIT GROUP ABOUT ITALIAN FACTORING MARKET ABOUT ROMANIAN FACTORING MARKET PRODUCTS & SERVICES PROVIDED 3

4 The worldwide Factoring market is over to Billions Euro, mainly focused on Europe Turnover, Billions Euros, Percentage CAGR Africa and Oceania America Asia CEE* Western Europe % % 14% 4% 25% 7% % CEE + Western Europe/Total % 72% 71% 70% 71% 72% 68% 4 * Croatia, Cyprus, Czech Rep., Estonia, Hungary, Lithuania, Poland, Latvia, Romania, Russia, Slovenia, Slovakia, Turkey, Ukraine, Bulgaria Source: Factors Chain International

5 Western Europe accounts for 92% of the total European market but growth is concentrated in CEE 2008, Market turnover, Billions of Euro, Percentage CAGR Italy is the third biggest market in Western Europe while Turkey, Russia, Poland, and Czech Republic are the most relevant countries in CEE , , ,8 5,0 3,2 1,7 1, ,2 18,0 UK France Italy Germany Spain Others* Total WE Turkey Russia Poland Czech Rep. Hungary Romania Slovakia Others** Total CEE 3% 10% -1% 20% 18% 9% 7% 23% 92% 18% 17% 28% 42% 31% 20% 26% 5 * Austria, Sweden, Portugal, Belgium, Finland, Norway, Denmark, Greece, Ireland, Luxemburg, Island ** Bulgaria, Croatia, Estonia, Lithuania, Latvia, Slovenia, Ukraine, Cyprus Source: Factors Chain International

6 International business is more important for CEE countries than for Western Europe 2008, Market turnover, Billions of Euro, Percentage International Domestic Western Europe breakdown international vs. domestic factoring CEE countries breakdown international vs. domestic factoring ,0 16,2 7,8 5,0 3,2 1,6 1,7 14,4 67, % 2,7 0,3 0,8 0,9 0,2 0,5 0,3 1,8 7,4 14% ,9 12,8 7,1 3,9 2,9 0,9 1,0 9,3 54,9 UK Italy France Germany Spain Others* Total Western Europe Turkey Russia Poland Czech Rep Hungary Slovakia Romania Others** Total CEE 6 * Austria, Sweden, Portugal, Belgium, Finland, Norway, Denmark, Greece, Ireland, Luxemburg, Island ** Bulgaria, Croatia, Estonia, Lithuania, Latvia, Slovenia, Ukraine, Cyprus Source: Factors Chain International

7 Factoring Utilization Attitude by European Countries 7 Sources: FCI Statistics, Eurostat, UCG Internal research

8 UniCredit Group footprint is like no other in Europe, with factoring operations characterized by excellent local risk assessment and operational capabilities. Pekao Faktoring Unicredit Bank Czech Republic Unicredit Bank Slovakia HVB Lithuania UniCredit Lithuania HVB UniCredit Latvia Latvia UniCredit Estonia HVB Estonia UniCredit Bank JSCB Ukrsotsbank Area Western Europe Countries where UniCredit Group already has a Factor Countries where UniCredit has its own banking network Country Turnover 2008 (Bn ) * Italy** Austria 18,5 1,3 Mkt share 2008 / Rank * 17,6% - 3º 17,3% - 2º Unicredit Factoring Hungary Russia Turkey 3,2 Poland 1,2 17,7% - 1º 15,4% - 2º Czech Rep. 0,1 3,6% - 7º 8 8 FactorBank (1) Unicredit Factoring ITALY Zagrebacka Banka Germany Italy Sources: UniCredit Group internal Project FCI Statistics Czech Rep. Poland Slovakia Austria Hungary Slovenia Croatia Bosnia Serbia UniCredit Bank Serbia Romania Bulgaria Ukraine Turkey Unicredit Factoring Bulgaria UniCredit Tiriac Bank Romania Yapi Kredi Faktoring * ** (1) FCI Reports CEE Hungary Russia Market share on Assifact sample 0,2 0,5 Romania 0,71 Bulgaria Ukraine 0,4 0,43 Slovenia <0,1 4,7% - 4º 3,1% - 3º 38,9% - 1º 72,0% - 1º 32,8% - 1º NA UniCredit Group 2008 Total Factoring Turnover: EUR 26,5/Bios FACTORBANK, Vienna, covers the German Market until German local operations will start.

9 AGENDA INTERNATIONAL FACTORING MARKET AND UNICREDIT GROUP ABOUT ITALIAN FACTORING MARKET ABOUT ROMANIAN FACTORING MARKET PRODUCTS & SERVICES PROVIDED 9

10 About Italian factoring market 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% ITALY. Factoring market composition 14,6% 15% 85,4% 85% mar-08 Mar mar-09 Mar The cumulative Turnover in 2009 (Jan-Jun) was equal to Eur 56/Bios (-5,4% vs 2008 same period) The Receivables Outstanding as at was equal to Eur 39,7/Bios (+5,8%). The total Financial Exposures as at were equal to Eur 29,5/Bios (+11,3%) The Italian factoring market is dominated by factors from banking groups (85,0% of the market) Factors from banking groups Captive Unicredit Factoring, with a market share of 16,3%*, is the 3 factoring company on the market, having a significant increase, both compared to March 2008 (eg 12,7%), and December 2008 (15,2%) The domestic market is heavily concentrated, the first 4 competitors registering 67,5% of the total turnover, having increased 66,1% in December 2008 MARKET SHARE AS AT Others 32,5% Intesa Mediofactoring 22,4% Ifitalia 19,0% 10 Source: Assifact * As at 30 June 2009 Factorit 9,8% UniCredit Factoring 16,3%

11 In Q the banking loans underwriting growth kept on slowing down, although still in a positive trend 11 bln mar giu-05 Of which: > 1 YEAR; 69,1% Totale clientela Total loans residente growth - Impieghi rate vivi ( mld) set dic mar giu set dic-06 Impieghi Exposures vivi Var. %% Var A/A Y/Y (Scala (right) dx) Italian financial system - Drill down ST vs MLT Of which: <= 1 YEAR mar giu set dic mar giu-08 Of which: > 1 YEAR set dic mar-09 Of which: <= 1 YEAR; 30,9% 11,0% 10,0% 9,0% 8,0% 7,0% 6,0% 5,0% 4,0% 3,0% 2,0% 1,0% 0,0% 25,0% 22,5% 20,0% 17,5% 15,0% 12,5% 10,0% 7,5% 5,0% 2,5% 0,0% -2,5% -5,0% -7,5% set-98 Total IMPIEGHI loans A to CLIENTELA resident RESIDENTE Corporate - TASSI growth DI CRESCITA rates PER per SETTORI segment mar-99 set-99 mar-00 set-00 mar-01 set-01 mar-02 set-02 Pubblica Amministrazione Famiglie e altro mar-03 As at March 2009 total loans amount to inland clientele was Eur 1.510/bios, with a growth of 2,2% Y/Y, although showing a constant decrease since the beginning of 2008 The Loans to Corporates has a better growth rate (+3,5% as at March 2009), but showing a remarkable drop. They correspond to the 61% of the total loans granted by the Italian Banking System Factoring is identified as a Short Term facility (< one year) which as at March scored as the 30,9% of total loans granted by the Italian Banking System. set-03 mar-04 set-04 mar-05 set-05 mar-06 set-06 mar-07 set-07 mar-08 Società finanziarie Soc. non fin. e fam. Prod.. set-08 mar-09

12 The drop of the ST loans is mitigated by the self-liquidating component, mainly due to the Factoring activity 12 IMPIEGHI TOTALI A CLIENTELA RESIDENTE Total loans to resident - VAR Corporate % ANNUE - growth rates per segment 15,0% 12,5% 10,0% 7,5% 5,0% 2,5% 0,0% -2,5% -5,0% CLIENTELA RESIDENTE - ESPOSIZIONI AUTOLIQUIDANTI Total loans self-liquidating - CRESCITE ANNUE lending % - growth rates 35,0% 30,0% 25,0% 20,0% 15,0% 10,0% 5,0% 0,0% -5,0% -10,0% -15,0% set-99 mar-00 set-00 mar-01 set-01 mar-02 set-02 mar-03 set-03 mar-04 set-04 mar-05 set-05 mar-06 set-06 mar-07 set-07 mar-08 set-08 mar-09 TOTALE RESIDENTI Di cui: ST Dfi cui: MLT Until sep08 ST is considered <=1,5 Y and MLT is >1,5Y. Starting from dec08 ST is considered <1Y giu-99 dic-99 giu-00 dic-00 giu-01 dic-01 giu-02 dic-02 giu-03 dic-03 giu-04 dic-04 giu-05 dic-05 giu-06 dic-06 giu-07 dic-07 giu-08 dic-08 Banks Factors banks & factors As at March 2009 Short Term Lending shows a clear drop (-2,9%) while the MLT component still has a positive growth (+4,2%), although declining. Self-liquidating loans grow by the 1,3% mainly because of Factoring Companies impulse (+9,8%) while Banking System facilities are stagnant. The share market of the Factoring Sector in the self-liquidating lending keeps on growing. Aa at March 2009 they covered the 13,2% of the market (+1% compared to March 2008) mar-04 Total loans self-liquidating exposures (Euro Bios) C L IE N T E L A R E S ID E N T E - F IN A N Z IA M E N T I A U T O L IQ U ID A N T I ( M L D ) giu-04 set-04 dic-04 mar-05 giu-05 set-05 dic-05 mar-06 giu-06 S e lf liq u id a tin g E x p o s u re s set-06 dic-06 mar-07 giu-07 set-07 dic-07 mar-08 giu-08 set-08 dic-08 % g ra n te d b y fa c to rs mar % 1 7 % 1 6 % 1 5 % 1 4 % 1 3 % 1 2 % 1 1 % 1 0 % 9 % 8 % 7 % 6 % 5 % 4 % 3 % 2 % 1 % 0 %

13 13 The credit insurance issue The insolvency outlook DEFAULT RATE FORECAST Variation Y/Y The Netherland 75% 1% Hong Kong 71% 3% Norway 66% 28% Spain 58% 187% United Kingdom 56% 31% Ireland 55% 113% Slovakia 55% -27% Latvia 50% 21% USA 45% 54% Lithuania 40% 53% Danmark 40% 54% Estony 40% 112% Singapore 37% 25% EURO ZONE 35% 33% Sweden 35% 9% Insolvency Global Index 35% 27% Finland 32% 14% Italy 31% 45% Portugal 30% 67% Hungary 30% 15% Czech Rep. 28% -3% Poland 26% -10% France 25% 15% South Korea 25% 19% Germany 19% 0% Belgium 18% 10% Taiwan 18% -23% Switzerland 16% -2% Greece 15% 10% Japan 15% 11% Austria 15% 0% Luxemburg 15% -12% Canada 10% -2% China 10% 5% Brasil -8% -18% Source: National sources, Insurance Co. forecasts Due to the Global Crisis, the tremendous growth of the default rate determined a upwards rebalancing of the pricing in the credit insurance market. In Italy in the first half 2009, the claims to Credit Insurance Companies increased by 52% compared to previous year, having negative consequences on policies price. UniCredit Factoring Credit Insurance recourse in 2009, deteriorated significantly (see below). COMPARISON FIRST HALF 2008/2009 NUMBER AMOUNTS REDUCTIONS + 20 TIMES + 41 TIMES CANCELLATION +137% +460% * REFUSALS +64% +150% NEW GRANTS FULL +21% -17% PARTIAL +214% +381% REQUESTED GRANTED AMOUTS AMOUT 1H REDEMPTION ,98% ,85% * ) From Eur 44/mios to Eur 249/Mios Amounts in Euro

14 AGENDA INTERNATIONAL FACTORING MARKET AND UNICREDIT GROUP ABOUT ITALIAN FACTORING MARKET ABOUT ROMANIAN FACTORING MARKET PRODUCTS & SERVICES PROVIDED 14

15 About Romanian factoring market UniCredit Tiriac Bank, with a market share of 32%, is the 1 st factoring company on the Romanian market. Regarding tranditional factoring volumes, August 2009 compared with same period in 2008 shows a significant increase of 41%. Romanian Market is still dominated by banks and heavily concentrated, the first 3 players registering 71% of the total turnover. ING 5% RBS 5% Sterling, Direct Factor &others 3% Raiffeisen 6% UniCredit 32% Compania de Factoring 10% BCR Erste 11% 15 BRD 28%

16 About Romanian factoring market Due to current market constraints (mainly related to real estate collaterals value drop and follow-up requirements), the companies access to traditional short term financing facilities has been limited this year. As a consequence, both Banks and companies turned to factoring products, characterized by flexibility in financing as well as by receivables and cash management services outsourcing, without the burden of identifying and evaluating additional collaterals Domestic Import Export 16

17 AGENDA INTERNATIONAL FACTORING MARKET AND UNICREDIT GROUP ABOUT ITALIAN FACTORING MARKET ABOUT ROMANIAN FACTORING MARKET PRODUCTS & SERVICES PROVIDED 17

18 UniCredit Factoring groupwide currently has a product portfolio covering all main product categories Service Components Financial Operational Working capital financing depends on value and quality of the debtors + Monitoring of debtors Management of payment collections Products Domestic factoring Maturity factoring Reverse factoring Import factoring Main characteristics Coverage of debtors insolvency risk (in non recourse) Financing for the buyer Payment of the supplier at a certain date (fixed) by the factor Post financing for the buyer Agreement with large corporate with many and continuous suppliers Recourse/non recourse credit line for the debtor Financing of suppliers Profit sharing with large corporates Non recourse credit line and for foreign supplier Post financing for the Italian buyer + Export factoring Coverage of foreign debtors insolvency risk Risk Coverage (only in non recourse factoring) Coverage of debtors insolvency risk Credit mgmt for state owned entities Full factoring Generally non recourse Days Sales Outstanding (DSO) Recourse/ non recourse, on the totality of receivables portfolio 1818 Source: UniCredit Group internal project\

19 Factoring International transactions Example of co-operation Seller/ Exporter A1. Goods delivery Buyer/ Importer C2. Export financing B2. Receivables assignment E5. Collection 4. D Risk Protection (Coverage previously granted) Unicredit Factoring Local Units D3. Risk assessment Non payment risk - Operating with factoring, the non-payment risk is on the import factor s side - The assignor receives financing deducted of factoring commissions and interests on advance financing 19 * Filing approval and financing could be performed by other UniCredit Group companies

20 Only few steps to benefit of international factoring 2. Feasibility 1. First contact 3. Deep assessment.. 4. Proposal.. 5. Negotiation 6. Operations 1. The seller contact the UCTB local factoring expert 2. First assessment for the operation feasibility 3. UCTB expert communicate to UCF (Milan or other entities) the operation details for deep assessment 4. UCF inform the UCTB expert about the results and after send a proposal to the Exporter 5. In case of acceptance direct negotiation will start between UCTB and Romanian Exporter 6. Start of operations (receivables assignment vs. financing 20 * Filing approval and financing could be performed by other UniCredit Group companies

21 THANK YOU FOR YOUR ATTENTION 21 Alessandro Bertoldo Andreea Marinescu Head of International Department Director Factoring UniCredit Factoring Spa UniCredit Tiriac Bank Via Albricci, 10 Strada Gheţarilor, nr Milan (Italy) Bucureşti Sector (mob)

EUF STATISTICS. 31 December 2013

EUF STATISTICS. 31 December 2013 . ESTIMATES OF EU TURNOVER VOLUMES. Turnover volumes by product, allocation and notification (Estimates of EU s, Millions of ) Estimate of the EU % on Turnover Significance of the sample on total turnover

More information

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50.

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50. Overall Results Climate Change Performance Index 2012 Table 1 Rank Country Score** Partial Score Tendency Trend Level Policy 1* Rank Country Score** Partial Score Tendency Trend Level Policy 21 - Egypt***

More information

How To Understand Factoring

How To Understand Factoring EIF Project "Jeremie" General Report on Factoring 1 Market analysis on Factoring in EU 25+2 prepared by International Factors Group (IFG) for European Investment Fund (EIF) project JEREMIE Preliminary

More information

GfK PURCHASING POWER INTERNATIONAL

GfK PURCHASING POWER INTERNATIONAL GfK PURCHASING POWER INTERNATIONAL 1 Agenda 1. Europe 3 2. Americas 45 3. Asia & Near East 54 4. Afrika 66 5. Australia 68 6. Overview of countries and available levels 70 2 2 EUROPE 4 GfK

More information

WORLD BANK. SME Financing and the SME ABS Market in Europe

WORLD BANK. SME Financing and the SME ABS Market in Europe WORLD BANK SME Financing and the SME ABS Market in Europe Michel Noel Lead Financial Sector Specialist Finance and Private Sector Development, Europe & Central Asia AGENDA SME Financing in Europe Asset-Backed

More information

Supply chain finance provides Dutch buyers with 22 billion additional free cash flow

Supply chain finance provides Dutch buyers with 22 billion additional free cash flow Supply Chain Finance ING Economics Department Supply chain finance provides Dutch buyers with 22 billion additional free cash flow This article determines the value to be gained by Dutch buyers and their

More information

Euler Hermes the world leader in credit insurance RISK ASSESSMENT CREDIT INSURANCE DEBT COLLECTION

Euler Hermes the world leader in credit insurance RISK ASSESSMENT CREDIT INSURANCE DEBT COLLECTION Euler Hermes the world leader in credit insurance RISK ASSESSMENT CREDIT INSURANCE DEBT COLLECTION Agenda 1 The Euler Hermes group 2 Our business 3 Our products and solutions 4 Our added value 2 The Euler

More information

DSV Air & Sea, Inc. Aerospace Sector. DSV Air & Sea, Inc. Aerospace

DSV Air & Sea, Inc. Aerospace Sector. DSV Air & Sea, Inc. Aerospace DSV Air & Sea, Inc. Aerospace Sector DSV Air & Sea, Inc. Aerospace Introduction to DSV DSV is a global supplier of transport and logistics services. We have offices in more than 70 countries and an international

More information

Brochure More information from http://www.researchandmarkets.com/reports/1339929/

Brochure More information from http://www.researchandmarkets.com/reports/1339929/ Brochure More information from http://www.researchandmarkets.com/reports/1339929/ The 2011 World Forecasts of Machine Tools That Remove Material by Laser or Light, Photon, Ultrasonic, Electro-Discharge,

More information

Table 1: TSQM Version 1.4 Available Translations

Table 1: TSQM Version 1.4 Available Translations Quintiles, Inc. 1 Tables 1, 2, & 3 below list the existing and available translations for the TSQM v1.4, TSQM vii, TSQM v9. If Quintiles does not have a translation that your Company needs, the Company

More information

Trends in the European Investment Fund Industry. in the First Quarter of 2016

Trends in the European Investment Fund Industry. in the First Quarter of 2016 Quarterly Statistical Release May 2016, N 65 This release and other statistical releases are available on Efama s website (www.efama.org) Trends in the European Investment Fund Industry in the First Quarter

More information

World Consumer Income and Expenditure Patterns

World Consumer Income and Expenditure Patterns World Consumer Income and Expenditure Patterns 2014 14th edi tion Euromonitor International Ltd. 60-61 Britton Street, EC1M 5UX TableTypeID: 30010; ITtableID: 22914 Income Algeria Income Algeria Income

More information

First estimate for 2014 Euro area international trade in goods surplus 194.8 bn 24.2 bn surplus for EU28

First estimate for 2014 Euro area international trade in goods surplus 194.8 bn 24.2 bn surplus for EU28 30/2015-16 February 2015 First estimate for 2014 Euro area international trade in goods surplus 194.8 bn 24.2 bn surplus for EU28 The first estimate for the euro area 1 (EA18) trade in goods balance with

More information

Reporting practices for domestic and total debt securities

Reporting practices for domestic and total debt securities Last updated: 4 September 2015 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on

More information

NEW PASSENGER CAR REGISTRATIONS BY ALTERNATIVE FUEL TYPE IN THE EUROPEAN UNION 1 Quarter 4 2015

NEW PASSENGER CAR REGISTRATIONS BY ALTERNATIVE FUEL TYPE IN THE EUROPEAN UNION 1 Quarter 4 2015 NEW PASSENGER CAR REGISTRATIONS BY ALTERNATIVE FUEL TYPE IN THE Quarter 4 2015 Alternative fuel vehicle (AFV) registrations: +20.0% in 2015; +21.1% in Q4 In the fourth quarter of 2015, total alternative

More information

Electricity, Gas and Water: The European Market Report 2014

Electricity, Gas and Water: The European Market Report 2014 Brochure More information from http://www.researchandmarkets.com/reports/2876228/ Electricity, Gas and Water: The European Market Report 2014 Description: The combined European annual demand for electricity,

More information

1. Perception of the Bancruptcy System... 2. 2. Perception of In-court Reorganisation... 4

1. Perception of the Bancruptcy System... 2. 2. Perception of In-court Reorganisation... 4 Bankruptcy Systems and In-court Reorganisation of Firms, 2010 Content: 1. Perception of the Bancruptcy System... 2 2. Perception of In-court Reorganisation... 4 3. Perception of Creditor Committees, Fast

More information

Turkish Arab Economic Forum June 29, 2012. Mehmet Şimşek. Minister of Finance

Turkish Arab Economic Forum June 29, 2012. Mehmet Şimşek. Minister of Finance Turkish Arab Economic Forum June 29, 2012 Mehmet Şimşek Minister of Finance 1 Outline Turkey: Short Term Outlook Managing a Soft Landing Fallout from the Euro Crisis Turkey & MENA REBALANCING Growing ON

More information

European Bottled Water - Overview. Stewart Macintosh 16 th June 2011

European Bottled Water - Overview. Stewart Macintosh 16 th June 2011 European Bottled Water - Overview Stewart Macintosh 16 th June 211 The Big Picture Global Bottled Water M Litres 18, 16, 14, 12, 1, 8, 6, 4, 2, 2 21 22 23 24 25 26 27 28 29 21 Top 15 Bottled Water Markets

More information

International Call Services

International Call Services International Call Services Affordable rates for business calls. Wherever you are in the world. We ve got plenty to say when it comes to staying in touch when you re overseas. We have agreements with 443

More information

Updated development of global greenhouse gas emissions 2013

Updated development of global greenhouse gas emissions 2013 Updated development of global greenhouse gas emissions 2013 Hans-Joachim Ziesing Low Carbon Markets and the Legacy of Nuclear Power 19 th REFORM Group Meeting, Schloss Leopoldskron, Salzburg September

More information

13 th Economic Trends Survey of the Architects Council of Europe

13 th Economic Trends Survey of the Architects Council of Europe 13 th Economic Trends Survey 13 th Economic Trends Survey of the Architects Council of Europe 13 th Economic Trends Survey Breakdown of responses COUNTRY ANSWERS France 1464 Belgium 399 Spain 365 Italy

More information

Analysis of statistics 2015

Analysis of statistics 2015 Analysis of statistics 215 January 216 ECHR Analysis of Statistics 215 Table of Contents Overview of the Court s statistics in 215... 4 A. Number of new applications... 4 B. Applications disposed of judicially

More information

187/2014-5 December 2014. EU28, euro area and United States GDP growth rates % change over the previous quarter

187/2014-5 December 2014. EU28, euro area and United States GDP growth rates % change over the previous quarter 187/2014-5 December 2014 This News Release has been revised following an error in the data for Gross Fixed Capital Formation. This affects both the growth of GFCF and its contribution to GDP growth. All

More information

ABOUT DIRECT SALES IN THE WORLD, EUROPE AND ROMANIA

ABOUT DIRECT SALES IN THE WORLD, EUROPE AND ROMANIA Annals of the University of Petroşani, Economics, 11(4), 2011, 151-158 151 ABOUT DIRECT SALES IN THE WORLD, EUROPE AND ROMANIA CLAUDIA ISAC, ALIN ISAC * ABSTRACT: Direct sale represents a modern product

More information

Credit insurance supports companies profitable growth

Credit insurance supports companies profitable growth Credit insurance supports companies profitable growth An independent research study of 2,000 businesses in 10 European economies Background. During the first semester of 2006, the Credit Management Research

More information

Size and Development of the Shadow Economy of 31 European and 5 other OECD Countries from 2003 to 2015: Different Developments

Size and Development of the Shadow Economy of 31 European and 5 other OECD Countries from 2003 to 2015: Different Developments January 20, 2015 ShadEcEurope31_January2015.doc Size and Development of the Shadow Economy of 31 European and 5 other OECD Countries from 2003 to 2015: Different Developments by Friedrich Schneider *)

More information

99/2015-9 June 2015. EU28, euro area and United States GDP growth rates % change over the previous quarter

99/2015-9 June 2015. EU28, euro area and United States GDP growth rates % change over the previous quarter 2005Q1 2005Q2 2005Q3 2005Q4 2006Q1 2006Q2 2006Q3 2006Q4 2007Q1 2007Q2 2007Q3 2007Q4 2008Q1 2008Q2 2008Q3 2008Q4 2009Q1 2009Q2 2009Q3 2009Q4 2010Q1 2010Q2 2010Q3 2010Q4 2011Q1 2011Q2 2011Q3 2011Q4 2012Q1

More information

SMEs access to finance survey 2014

SMEs access to finance survey 2014 EUROPEAN COMMISSION MEMO Brussels, 12 November 2014 SMEs access to finance survey 2014 This memo outlines the results of a survey undertaken by the European Commission to provide policy makers with evidence

More information

U.S. Trade Overview, 2013

U.S. Trade Overview, 2013 U.S. Trade Overview, 213 Stephanie Han & Natalie Soroka Trade and Economic Analysis Industry and Analysis Department of Commerce International Trade Administration October 214 Trade: A Vital Part of the

More information

Triple-play subscriptions to rocket to 400 mil.

Triple-play subscriptions to rocket to 400 mil. Triple-play criptions to rocket to 400 mil. Global triple-play criptions will reach 400 million by 2017; up by nearly 300 million on the end-2011 total and up by 380 million on the 2007 total, according

More information

Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU

Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU 92/2015-27 May 2015 Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU In the European Union (EU), household electricity prices 1 rose by

More information

Report on Government Information Requests

Report on Government Information Requests Report on Government Information January 1 - June 30, 2015 Apple takes our commitment to protecting your data very seriously and we work incredibly hard to deliver the most secure hardware, software and

More information

BEST PRACTICES/ TRENDS/ TO-DOS

BEST PRACTICES/ TRENDS/ TO-DOS Online Insurance Europe: S/ TRENDS/ TO-DOS New success guidelines WHAT TO DO N D E EW IO IT N Your Benefits EUROPE S S/ TRENDS/ TO-DOS: The new and only study about the best online insurance solutions

More information

Small and Medium Entrepreneurship in Russia

Small and Medium Entrepreneurship in Russia Sergei Safonov Partner, EY Small and Medium Entrepreneurship in Russia Roundtable discussion SME financing in ENCA Luxembourg, 12 March 2014 Contents The role of SME sector in the Russian economy and the

More information

Consumer Credit Worldwide at year end 2012

Consumer Credit Worldwide at year end 2012 Consumer Credit Worldwide at year end 2012 Introduction For the fifth consecutive year, Crédit Agricole Consumer Finance has published the Consumer Credit Overview, its yearly report on the international

More information

Italian Factoring Market: An Almost Success Story

Italian Factoring Market: An Almost Success Story Italian Factoring Market: An Almost Success Story Rony Hamaui CEO Mediofactoring Milan February 2009 The Italian Market is Large. Turnover 2007 Billion of EUR 400 300 286 200 100 0 123 122 97 89 84 78

More information

Investment and Investment Finance in Croatia, how can the EIB contribute? Dario Scannapieco and Debora Revoltella European Investment Bank

Investment and Investment Finance in Croatia, how can the EIB contribute? Dario Scannapieco and Debora Revoltella European Investment Bank Investment and Investment Finance in Croatia, how can the EIB contribute? Dario Scannapieco and Debora Revoltella European Investment Bank 24 March 2014 Outline EU and Croatia key challenges The Investment

More information

Credit transfer to Customer account with AS "Meridian Trade Bank" EUR, USD free of charge * - 4.1.2. Other countries currency information in the Bank

Credit transfer to Customer account with AS Meridian Trade Bank EUR, USD free of charge * - 4.1.2. Other countries currency information in the Bank Pricelist for individuals residents of Latvia SERVICES 4. TRANSFERS In the Bank PRICE LIST IN EUR Using «MultiNet» 4.1. 4.1.1. Credit transfer to Customer account with EUR, USD free of charge * 4.1.2.

More information

ERASMUS+ MASTER LOANS

ERASMUS+ MASTER LOANS ERASMUS+ MASTER LOANS Erasmus+ Master Loan: opening up access to more affordable lending for cross-border studies The Erasmus+ programme makes it possible for students who want to take a full Masters level

More information

The Determinants of Global Factoring By Leora Klapper

The Determinants of Global Factoring By Leora Klapper The Determinants of Global Factoring By Leora Klapper Factoring services can be traced historically to Roman times. Closer to our own era, factors arose in England as early as the thirteenth century, as

More information

Market Performance Report - For Business & Country

Market Performance Report - For Business & Country Brochure More information from http://www.researchandmarkets.com/reports/3107242/ Credit Card Issuing Lines Europe Report Description: CREDIT CARD ISSUING LINES EUROPE REPORT The Credit Card Issuing Lines

More information

The big pay turnaround: Eurozone recovering, emerging markets falter in 2015

The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 Global salary rises up compared to last year But workers in key emerging markets will experience real wage cuts Increase in

More information

Finnish foreign trade 2014 Figures and diagrams. 27.2.2015 FINNISH CUSTOMS Statistics 1

Finnish foreign trade 2014 Figures and diagrams. 27.2.2015 FINNISH CUSTOMS Statistics 1 Finnish foreign trade 214 Figures and diagrams 27.2.215 FINNISH CUSTOMS Statistics 1 IMPORTS, EXPORTS AND TRADE BALANCE 199-214 7 billion e 6 5 4 3 2 1-1 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9

More information

Data Modeling & Bureau Scoring Experian for CreditChex

Data Modeling & Bureau Scoring Experian for CreditChex Data Modeling & Bureau Scoring Experian for CreditChex Karachi Nov. 29 th 2007 Experian Decision Analytics Credit Services Help clients with data and services to make business critical decisions in credit

More information

IAB Adex Benchmark 2012 Daniel Knapp, IHS Electronics & Media

IAB Adex Benchmark 2012 Daniel Knapp, IHS Electronics & Media IAB Adex Benchmark 2012 Daniel Knapp, IHS Electronics & Media ABOUT THE STUDY 2 3 A meta-analysis of online ad spend in Europe GROSS NET RATECARD Revenue Billed Revenue Billed No Agency commissions Campaigns

More information

Introduction. Functions of Factoring

Introduction. Functions of Factoring Doprava a spoje elektronický časopis Fakulty prevádzky a ekonomiky dopravy a spojov Žilinskej univerzity v Žiline, ISSN 1336-7676 FACTORING AS A TOOL FOR ENHANCING THE COMPETITIVENESS OF IN TRANSPORT ENTERPRISES

More information

Funding and network opportunities for cluster internationalization

Funding and network opportunities for cluster internationalization BSR Innovation Express: Cluster- to- Cluster Conference Funding and network opportunities for cluster internationalization Jens Peter Vittrup Special Adviser Email: jpv@ai.dk Why international R&I cooperation?

More information

Economic and Market Report. EU Automotive Industry Quarter 3 2015

Economic and Market Report. EU Automotive Industry Quarter 3 2015 Economic and Market Report EU Automotive Industry Quarter 3 2015 December 2015 CONTENTS EU Economic Outlook... 2 Passenger cars... 4 Registrations... 4 World... 4 The European Union... 7 Production...

More information

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY Johanna Avato Human Development Network Social Protection and Labor The World Bank Background study March 2008 The Italian Social Security

More information

Report on Government Information Requests

Report on Government Information Requests Report on Government Information July 1 - December 31, 2015 Apple takes our commitment to protecting your data very seriously and we work incredibly hard to deliver the most secure hardware, software and

More information

The spillover effects of unconventional monetary policy measures in major developed countries on developing countries

The spillover effects of unconventional monetary policy measures in major developed countries on developing countries The spillover effects of unconventional monetary policy measures in major developed countries on developing countries Tatiana Fic National Institute of Economic and Social Research Objective The objective

More information

Global AML Resource Map Over 2000 AML professionals

Global AML Resource Map Over 2000 AML professionals www.pwc.co.uk Global AML Resource Map Over 2000 AML professionals January 2016 Global AML Resources: Europe France Italy Jersey / Guernsey 8 Ireland 1 Portugal 7 Luxembourg 5 United Kingdom 1 50 11 Spain

More information

Supported Payment Methods

Supported Payment Methods Supported Payment Methods Global In the global payments market, credit cards are the most popular payment method. However, BlueSnap expands the payment selection by including not only the major credit

More information

July 2015. Figure 1. 1 The index is set to 100 in 2000. House prices are deflated by country CPIs in most cases.

July 2015. Figure 1. 1 The index is set to 100 in 2000. House prices are deflated by country CPIs in most cases. July 2015 Globally, house prices continue a slow recovery. The Global House Price Index, an equally weighted average of real house prices in nearly 60 countries, inched up slowly during the past two years

More information

Supported Payment Methods

Supported Payment Methods Sell Globally in a Snap Supported Payment Methods Global In the global payments market, credit cards are the most popular payment method. However, BlueSnap expands the payment selection by including not

More information

EIOPA Stress Test 2011. Press Briefing Frankfurt am Main, 4 July 2011

EIOPA Stress Test 2011. Press Briefing Frankfurt am Main, 4 July 2011 EIOPA Stress Test 2011 Press Briefing Frankfurt am Main, 4 July 2011 Topics 1. Objectives 2. Initial remarks 3. Framework 4. Participation 5. Results 6. Summary 7. Follow up 2 Objectives Overall objective

More information

CEE AND POLAND S MARKETS DIVISIONS

CEE AND POLAND S MARKETS DIVISIONS CEE AND POLAND S MARKETS DIVISIONS E. Hampel Head of CEE Division, CEO of BA-CA F. Ghizzoni Head of Poland s Markets Division, Head of CEE Division at BA-CA EXECUTIVE SUMMARY CEE continues to be a highly

More information

Ownership transfer Critical Tax Issues. Johan Fall, Anders Ydstedt March, 2010

Ownership transfer Critical Tax Issues. Johan Fall, Anders Ydstedt March, 2010 Ownership transfer Critical Tax Issues Johan Fall, Anders Ydstedt March, 2010 Ownership transfer Critical Tax Issues 1 Ownership transfer Critical Tax Issues INTRODUCTION In tough economic times family

More information

IMMIGRATION TO AND EMIGRATION FROM GERMANY IN THE LAST FEW YEARS

IMMIGRATION TO AND EMIGRATION FROM GERMANY IN THE LAST FEW YEARS IMMIGRATION TO AND EMIGRATION FROM GERMANY IN THE LAST FEW YEARS Bernd Geiss* Germany, Destination for Migrants Germany is in the middle of Europe and has common borders with nine countries. Therefore,

More information

ERASMUS+ MASTER LOANS

ERASMUS+ MASTER LOANS Ref. Ares(2015)660570-17/02/2015 ERASMUS+ MASTER LOANS Erasmus+ Master Loan: opening up access to more affordable lending for cross-border studies The Erasmus+ programme makes it possible for students

More information

Foreign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund

Foreign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund Income INTECH Global Income Managed Volatility Fund Australia 0.0066 0.0375 Austria 0.0045 0.0014 Belgium 0.0461 0.0138 Bermuda 0.0000 0.0059 Canada 0.0919 0.0275 Cayman Islands 0.0000 0.0044 China 0.0000

More information

Report on Government Information Requests

Report on Government Information Requests Report on Government Information July 1 - December 31, 2014 apple Apple takes our commitment to protecting your data very seriously and we work incredibly hard to deliver the most secure hardware, software

More information

INVESTING IN A TRANSITIONING SECTOR

INVESTING IN A TRANSITIONING SECTOR INVESTING IN A TRANSITIONING SECTOR Eurelectric conference Jon Moore, CEO NEW INVESTMENT IN CLEAN ENERGY 24-14 ($BN) 32% 17% $318bn -7% $294bn 16% -9% $31bn.5% $272bn $268bn 17% 46% 36% $175bn $25bn $26bn

More information

Our Management A Strong Team! (I) Raiffeisen Bank Aval Strategy and Business Development. Volodymyr Lavrenchuk, CEO Raiffeisen Bank Aval

Our Management A Strong Team! (I) Raiffeisen Bank Aval Strategy and Business Development. Volodymyr Lavrenchuk, CEO Raiffeisen Bank Aval Raiffeisen Bank Aval Strategy and Business Development Volodymyr Lavrenchuk, CEO Raiffeisen Bank Aval Our Management A Strong Team! (I) Lubomir Pokorny Retail Arthur Iliyav I (Multinationals) Gerhard Boesch

More information

WELCOME! Introduction. Celebrating. &PrimeRevenue. PrimeRevenue Hong Kong. 2012 PrimeRevenue, Inc.

WELCOME! Introduction. Celebrating. &PrimeRevenue. PrimeRevenue Hong Kong. 2012 PrimeRevenue, Inc. WELCOME! Introduction Celebrating Ethe Factor Network establishment of &PrimeRevenue PrimeRevenue Hong Kong 2012 PrimeRevenue, Inc. Global Reach Today, we transact business in 50 countries Our platform

More information

Group overview Veli-Matti Mattila CEO

Group overview Veli-Matti Mattila CEO Group overview Veli-Matti Mattila CEO Content 1 2 3 4 5 Performance update Market environment Strategy execution Mid-term targets CEO priorities 2 22 October 2014 Elisa CMD 2014 Group overview Performance

More information

Appendix 1: Full Country Rankings

Appendix 1: Full Country Rankings Appendix 1: Full Country Rankings Below please find the complete rankings of all 75 markets considered in the analysis. Rankings are broken into overall rankings and subsector rankings. Overall Renewable

More information

Trends in the European Investment Fund Industry. in the Fourth Quarter of 2015. Results for the Full Year of 2015

Trends in the European Investment Fund Industry. in the Fourth Quarter of 2015. Results for the Full Year of 2015 Quarterly Statistical Release February 2016, N 64 This release and other statistical releases are available on Efama s website (www.efama.org) Trends in the European Investment Fund Industry in the Fourth

More information

International talent management in JYSK

International talent management in JYSK International talent management in JYSK Lars Dahl Christensen Head of HR for JYSK NORDIC in Logistics Denmark, Sweden, Poland and China and JYSK in Norway, Romania, Bulgaria, Hungary, United Kingdom and

More information

INTERNATIONAL TRACKED POSTAGE SERVICE

INTERNATIONAL TRACKED POSTAGE SERVICE INTERNATIONAL TRACKED POSTAGE SERVICE Index Expanding Internationally...03 The Post NL Service...04 How it works... 05 Post NL Rates...06 Transit times...07 Customer Service...08 Expanding Internationally

More information

European Portfolio Advisory Group Market update

European Portfolio Advisory Group Market update European Portfolio Advisory Group Market update October 2013 Click to launch 2 Publication Issue European NPL outlook and transactions in key markets Richard Thompson Chairman, European Portfolio Advisory

More information

Technical & Trade Schools Europe Report

Technical & Trade Schools Europe Report Brochure More information from http://www.researchandmarkets.com/reports/3106479/ Technical & Trade Schools Europe Report Description: TECHNICAL & TRADE SCHOOLS EUROPE REPORT The Technical & Trade Schools

More information

EBA REPORT ON THE BENCHMARKING OF DIVERSITY PRACTICES. EBA-Op-2016-10 08 July 2016

EBA REPORT ON THE BENCHMARKING OF DIVERSITY PRACTICES. EBA-Op-2016-10 08 July 2016 EBA REPORT ON THE BENCHMARKING OF DIVERSITY PRACTICES EBA-Op-2016-10 08 July 2016 BENCHMARKING OF DIVERSITY PRACTICES AT THE EU LEVEL Benchmarking of diversity practices at the European Union level List

More information

The Factoring Industry Worldwide & The Role of International Factoring

The Factoring Industry Worldwide & The Role of International Factoring The Factoring Industry Worldwide & The Role of International Factoring Erik Timmermans Secretary General IFG 1 Factoring Basics The Factoring Company provides flexible finance against the assignment of

More information

SECURITIES SERVICES FEES AND COMMISSIONS (for natural and legal persons)

SECURITIES SERVICES FEES AND COMMISSIONS (for natural and legal persons) SECURITIES SERVICES FEES AND COMMISSIONS (for natural and legal persons) AUSTRALIA FOP (Free-of- AUSTRIA FOP (Free-of- BELGIUM e FOP (Free-of- BULGARIA FOP (Free-of- CANADA e (if the value of a single

More information

Beer statistics. 2014 edition. The Brewers of Europe

Beer statistics. 2014 edition. The Brewers of Europe Beer statistics 2014 edition The Brewers of Europe Beer statistics 2014 edition The Brewers of Europe Editor: Marlies Van de Walle 1st edition, October 2014 ISBN 978-2-9601382-3-8 EAN 9782960138238 1

More information

About us. As our customer you will be able to take advantage of the following benefits: One Provider. Flexible Billing. Our Portal.

About us. As our customer you will be able to take advantage of the following benefits: One Provider. Flexible Billing. Our Portal. About us At RoamingExpert we specialise in mobile roaming tariffs which are tailored to the specific needs of the yachting industry. Our unique offering generates significant savings when compared to standard

More information

Our people make the difference

Our people make the difference Transcom WorldWide S.A. Our people make the difference Investor Presentation Q1 2006 1 Company Overview Transcom is Europe s largest CRM operator by geographic footprint Fast growing Customer Relationship

More information

THE WORLD S LEADING CAR DESIGN MAGAZINE

THE WORLD S LEADING CAR DESIGN MAGAZINE THE WORLD S LEADING CAR DESIGN MAGAZINE DISTRIBUITED IN MORE THAN 60 COUNTRIES EUROPE: Austria, Belgium, Cyprus, Denmark, Finland, France, Germany, United Kingdom, Greece, Ireland, Iceland, Italy, Latvia,

More information

Working Holiday Maker visa programme report

Working Holiday Maker visa programme report Working Holiday Maker visa programme report 30 June 2015 This page is left blank intentionally. Table of Contents About this report 1 Enquiries 1 Definition of terms 2 Background to the Working Holiday

More information

COST Presentation. COST Office Brussels, 2013. ESF provides the COST Office through a European Commission contract

COST Presentation. COST Office Brussels, 2013. ESF provides the COST Office through a European Commission contract COST Presentation COST Office Brussels, 2013 COST is supported by the EU Framework Programme ESF provides the COST Office through a European Commission contract What is COST? COST is the oldest and widest

More information

Residential Mental, Health & Substance Abuse Facility Lines Europe Report

Residential Mental, Health & Substance Abuse Facility Lines Europe Report Brochure More information from http://www.researchandmarkets.com/reports/3107065/ Residential Mental, Health & Substance Abuse Facility Lines Europe Report Description: RESIDENTIAL MENTAL, HEALTH & SUBSTANCE

More information

The VAT & Invoicing Requirements Update March 2012

The VAT & Invoicing Requirements Update March 2012 The VAT & Invoicing Requirements Update March 2012 Indirect taxes are a massive potential expense. For buyers and sellers of goods and services, how invoices are prepared and processed can affect a company's

More information

Global Economic Briefing: Global Inflation

Global Economic Briefing: Global Inflation Global Economic Briefing: Global Inflation August 7, Dr. Edward Yardeni -97-7 eyardeni@ Debbie Johnson -- djohnson@ Mali Quintana -- aquintana@ Please visit our sites at www. blog. thinking outside the

More information

Technical & Trade School Lines Europe Report

Technical & Trade School Lines Europe Report Brochure More information from http://www.researchandmarkets.com/reports/3106478/ Technical & Trade School Lines Europe Report Description: TECHNICAL & TRADE SCHOOL LINES EUROPE REPORT The Technical &

More information

Golf Participation in Europe 2015

Golf Participation in Europe 2015 KPMG GOLF ADVISORY PRACTICE IN EMA Golf Participation in Europe 215 golfbenchmark.com Wentworth West, Restored by Ernie Els Design, Artwork Steven Salerno 2 Golf Participation in Europe 215 Golf Participation

More information

SEPA. Changes in the Payment System Implementation of the European SEPA Regulations for Kuna and Euro Payments

SEPA. Changes in the Payment System Implementation of the European SEPA Regulations for Kuna and Euro Payments SEPA Changes in the Payment System Implementation of the European SEPA Regulations for Kuna and Euro Payments SEPA The Single Euro Payments Area (SEPA) stands for a European Union (EU) payments integration

More information

IAB Europe AdEx Benchmark 2014. Daniel Knapp, IHS Eleni Marouli, IHS

IAB Europe AdEx Benchmark 2014. Daniel Knapp, IHS Eleni Marouli, IHS IAB Europe AdEx Benchmark 2014 Daniel Knapp, IHS Eleni Marouli, IHS About the study A meta analysis of online ad spend in Europe GROSS NET RATECARD Revenue Billed Revenue Billed No Agency commissions Campaigns

More information

NERI Quarterly Economic Facts Summer 2012. 4 Distribution of Income and Wealth

NERI Quarterly Economic Facts Summer 2012. 4 Distribution of Income and Wealth 4 Distribution of Income and Wealth 53 54 Indicator 4.1 Income per capita in the EU Indicator defined National income (GDP) in per capita (per head of population) terms expressed in Euro and adjusted for

More information

SunGard Best Practice Guide

SunGard Best Practice Guide SunGard Best Practice Guide What Number Should I Use? www.intercalleurope.com Information Hotline 0871 7000 170 +44 (0)1452 546742 conferencing@intercalleurope.com Reservations 0870 043 4167 +44 (0)1452

More information

GE Grid Solutions. Providing solutions that keep the world energized Press Conference Call Presentation November 12, 2015. Imagination at work.

GE Grid Solutions. Providing solutions that keep the world energized Press Conference Call Presentation November 12, 2015. Imagination at work. GE Grid Solutions Providing solutions that keep the world energized Press Conference Call Presentation November 12, 2015 Press Conference Call Recording: Toll Free: +1 (855) 859-2056 Toll: +1 (404) 537-3406

More information

Direct Life Insurance Carrier Lines Europe Report

Direct Life Insurance Carrier Lines Europe Report Brochure More information from http://www.researchandmarkets.com/reports/3106712/ Direct Life Insurance Carrier Lines Europe Report Description: DIRECT LIFE INSURANCE CARRIER LINES EUROPE REPORT The Direct

More information

European Rack and Rack Options Market

European Rack and Rack Options Market Brochure More information from http://www.researchandmarkets.com/reports/2701935/ European Rack and Rack Options Market Description: The European rack and rack options market is growing with still high

More information

How To Calculate Tax Burden In European Union

How To Calculate Tax Burden In European Union The Tax Burden of Typical Workers in the EU 28 2015 James Rogers Cécile Philippe Institut Économique Molinari, Paris Bruxelles TABLE OF CONTENTS Abstract 2 Background 2 Main Results 3 On average, a respite

More information

Employee eligibility to work in the UK

Employee eligibility to work in the UK Employee eligibility to work in the UK This document details legal requirements that apply to ALL new members of staff All employers in the UK are legally bound to comply with the Asylum and Immigration

More information

With data up to: May 2016. Monthly Electricity Statistics

With data up to: May 2016. Monthly Electricity Statistics With data up to: 216 Monthly Electricity Statistics Date of publication: 12 ust 216 Monthly Electricity Statistics TABLE OF CONTENTS Page # HIGHLIGHTS i ORGANISATIONAL AND REGIONAL TABLES OECD Total 1

More information

Global Marine Insurance Report 2008

Global Marine Insurance Report 2008 Global Marine Insurance Report 28 Astrid Seltmann Facts & Figures Committee Analyst/Actuary, CEFOR, Norway Report on marine insurance premiums 26 and 27 By end of August 28, 49 of 54 members (ex 45 of

More information

Business Cooperation Database Profile Extraction

Business Cooperation Database Profile Extraction Business Cooperation Database Profile Extraction Produced the 23/05/2013 General Information Profile ID 20111230018 Summary Creation Date 30/12/2011 Last Update 12/01/2012 Expiration Date 02/01/2014 Intermediary

More information