India’s ship building industry is experiencing significant growth in the export of light vessels, fire boats & floating docks, based on healthy increases in 2019 export figures. These vessels and floating structures come under Commodity Group 8905 in the UN Harmonized System Codes and are defined as, “Light-vessels, fire-floats, dredgers, floating cranes and other vessels, the navigability of which is subsidiary to their main function; floating docks; floating or submersible drilling or production platforms”. They are used the world over for aquatic transport, development and support activities.
In Focus
How and Why to Become a Citizen of Antigua & Barbuda
We talk to Charmaine Quinland-Donovan, CEO of the world’s leading Citizenship by Investment Programme in Antigua and Barbuda about how the Unit she heads up continues to successfully respond and adapt to any and all challenges. When blended with a famously proactive operational and strategic approach that sees investment criteria constantly reviewed and upgraded to ensure the programme remains best in class, it is small wonder citizenship of Antigua and Barbuda is proving to be more popular than ever before for investors from across the globe.
Are The Traditional Investment Portfolio Allocations Still Relevant?
There has been much debate around whether there is still a place for traditional portfolios made up of 60% equities and 40% bonds. We believe that asset allocators have already in recent years moved considerably away from the traditional 60/40 portfolio and this trend looks set to continue.
India May See GDP Growth In 2021
Spurred on by a nationwide vaccination drive, India is seeing a healthy “V-Shaped” economic recovery. According to an article authored by top officials of the Reserve Bank of India, the country is on the cusp of posting positive growth for financial year 2020-2021. It is only natural for India to be able to launch and sustain possibly the world’s largest vaccination programme against COVID-19. After all, India leads the world in terms of vaccine manufacturing capacity and has plenty of experience with mass vaccinations, having successfully used vaccines to battle polio and measles.
Evidence Of Increased Costs For EUR Payments From UK As A Result Of Brexit
Banking Circle, the cross border payments expert, has identified an issue affecting some financial institutions handling cross border transactions from the UK to the EU. It seems Brexit has caused a number of EU banks to increase their fees for receipt of SEPA local payments in EUR from GB IBANs.
FISCAL Technologies Introduces New Shared Service Centre
FISCAL upgrades its AI-powered spend protection offering for shared services, providing complete oversight of payables risk across all business units and protecting 100% of supplier spend
FISCAL Technologies, the Procure-to-Pay risk management solution provider, has today announced the launch of its upgraded Shared Service Centre offering, which saves millions of pounds through proactively preventing payment errors.
The enhanced offering to FISCAL’s NXG Forensics solution – a cloud-based Procure-to-Pay (P2P) assurance solution – reduces complexity, cuts supplier overpayment by 99% and achieves 100% visibility of governance and payables risk. It therefore enables customers to comply with finance best practices all while identifying risks and streamlining user workflow in any multiple business unit structure.
Bermuda Aircraft Registry
Bermuda is a UK Overseas Territory and has the largest offshore aircraft registry, which is also tenth in size overall compared to the 193 signatory States to the Convention on Civil Aviation. The Bermuda Civil Aviation Authority (BCAA) is responsible for the regulation and safety oversight of aviation in Bermuda, and all aircraft on the Bermuda Aircraft Registry.
Although regulated by the UK Department for Transport, Bermuda’s safety oversight system is separate from that of the UK. The regulatory requirements are established as Overseas Territories Aviation Requirements (OTARs), which are in full compliance with the standards and recommended practices of the ICAO, a UN specialised agency established to manage the administration and governance of the Convention of International Civil Aviation.
Trade Up
We talk pandemics, Trade Finance and the potential Euro Exim bank can offer with Graham Bright
Head – Compliance and Operations
NEE: Trade finance is at the core of Euro Exim Banks (EEB) portfolio of products and services. Last year was full of possibilities, with speed, reliability and security at the core of the banks trade finance offering. However, the Covid-19 pandemic has had far reaching consequences, altering the goods consumers want, the goods they need and what defines luxuries and necessities. How has this impacted what your customers want and what solutions you can offer?
Graham Bright: Covid-19 has decimated some business, but has also presented many opportunities for companies, as international trade continues, even with difficulties obtaining finance and currency. At EEB, we are seeing an increase in the amount of proposed business in our target markets as many of the larger banks are not currently able to support smaller corporates. With a diverse team geographically, currently represented in 24 countries, we have seen an explosion of interest, traffic and proposals coming our way as we offer very competitive rates, a unique, trusted service with gearing for repeat business.
Where competitors are retracting, we have increased our headcount in our international offices. At the beginning of 2020 in Chennai, India, our affiliate office had 50 people. Now we employ 150 people there, at a time where Covid-19 uncertainty and cost cutting generally has meant major banks laying off significant number of staff.