Category: Business

The U.S. Small Business Administration (SBA) has announced the opening of a Business Recovery Center in Honolulu to provide assistance to small businesses affected by the Maui wildfires that started on August 8, 2023. The center is a partnership between the SBA and the Hawaii Small Business Development Center (SBDC), and will offer a range of services to help small business owners recover and rebuild. SBA Disaster Loans Available for…

GGC seeks innovative ideas for country’s development The Gharany Group of Companies (GGC), a leading business conglomerate in Afghanistan, has announced that it is ready to provide capital to Afghans who have good business plans for the development of the country. The group is seeking business plans from the people who have workable ideas but cannot implement them due to financial problems. GGC chief Ahmad Yar Gharany told Pajhwok Afghan…

Qantas, the Australian flag carrier, is facing a crisis of identity as its once coveted business class pyjamas are no longer in vogue among the nation’s wealthy teenagers. The airline, which recently announced the resignation of its CEO Alan Joyce, has seen a decline in its brand recognition and loyalty as young customers opt for a more ‘poor core’ style of dressing. What is ‘poor core’ and why is it…

A survey conducted by BusinessNZ reveals that the majority of New Zealand businesses are worried about the high cost of doing business and the lack of a plan for improving the country’s economic performance. The survey also shows that businesses are opposed to increasing business-related taxes to address the current fiscal challenges. Businesses Feel The Pinch Of Government Policies The Deloitte and Chapman Tripp Election Survey, which is New Zealand’s…

The Debt Recovery Tribunal (DRT) in Ahmedabad has issued a directive to banks and financial institutions to refrain from engaging junior or proxy lawyers to represent them in debt recovery cases. The tribunal said that such lawyers are often not well-versed with the facts of the cases and fail to adequately defend the interests of the banks. DRT’s directive stirs controversy The DRT’s directive, dated August 31, 2023, was issued…

The Nigerian banking sector is facing a crisis of confidence as workers threaten to go on a nationwide strike over economic hardship and poor working conditions. The workers, under the umbrella of the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), have given the government and the Central Bank of Nigeria (CBN) a 14-day ultimatum to address their grievances or face industrial action. Workers demand better pay and…

International Banker is a website that provides authoritative analysis on international banking, finance, and technology. It covers topics such as banking trends, monetary policy, climate change, fintech innovation, and more. The website aims to inform and educate its readers about the latest developments and challenges in the global banking industry. How Banks Are Responding to Africa’s and the Middle East’s Evolving Financial Needs One of the recent articles on International…

The Financial Conduct Authority (FCA) has issued a warning to banks that they could face fines if they wrongly deny accounts to politicians and their relatives. The regulator is reviewing how banks treat politically exposed persons (PEPs) amid claims that some have faced unfair scrutiny or rejection. What are PEPs and why do they matter? PEPs are individuals who hold or have held prominent public positions, such as MPs, ministers,…

The Financial Conduct Authority (FCA) has issued a warning to banks that they could face fines if they wrongly deny accounts to politicians and their families. The regulator is reviewing how banks handle the cases of politically exposed persons (PEPs), who are subject to additional checks due to their potential risk of corruption or money laundering. FCA vows to act against ‘tick-box’ approach Sarah Pritchard, executive director at the FCA,…

The Association of Southeast Asian Nations (ASEAN) has reaffirmed its commitment to promoting inclusive business (IB) models that empower micro, small, and medium enterprises (MSMEs) and contribute to inclusive and sustainable development in the region. ASEAN holds first high-level ministerial meeting on IB On September 5, 2023, ASEAN hosted the first High-Level Ministerial Meeting for Ministers responsible for MSME development in ASEAN Member States (AMS). The meeting was held in…