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Despite the ongoing volatility in financial markets around the world, the Export Finance and Insurance Corporation (EFIC) performed strongly last financial year. The Australian Government’s export credit agency showed a profit on its Commercial Account of $30.2 million, reflecting continuing strength.
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Trade in financial services through foreign affiliates increased last financial year, against a backdrop of declining service exports.
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World news and international business – it’s all related, but how? Department of Foreign Affairs and Trade (DFAT) presenter Peter Scott will take you through the reasons behind sanctions, security, and travel advisories: how it affects insurance and financial risk, to your travel plans to see customers and suppliers. Scott is the director of the [...]
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Coface is the first international credit insurer to get its licence tapping into the €40m Russian credit insurance market.
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It’s a truism that many otherwise profitable businesses fail because they run out of cash. While profit is the reason you’re in business, cash flow is what keeps you there—and cash flow and profit are two different things. You may be making profitable sales, but your business can still suffer if those sales aren’t being [...]
...read moreInternational business is a risk, which is why insurance cover is more important than ever for exporters. Here’s a guide to the five most popular export insurance products. Murphy’s Law states: ‘Anything that can go wrong, will go wrong.’ While you may not be as pessimistic as Edward Murphy Jr, it doesn’t hurt to think [...]
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Government export credit agency Export Finance and Insurance Corporation (EFIC) has signed reciprocal reinsurance agreements with its French and US counterparts, enabling Australian, French and US companies to participate more easily in joint international contracts. The deal, between EFIC and Compagnie Française d’Assurance pour le Commerce Extérieur (COFACE) and Export-Import Bank of the United States [...]
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The Export Finance and Insurance Corporation (EFIC) will host a free breakfast seminar on finding finance, as part of the NSW Government’s Small Business September program. Export finance is often difficult to obtain through the usual channels, so ‘Overcoming financial barriers to export success’ will address exporters’ financial needs when competing globally, including funding export [...]
...read moreAustralian credit agency, the Export Finance and Insurance Corporation (EFIC), yesterday announced it had signed a Reciprocal Reinsurance Agreement with its Korean counterpart, the Korea Export Insurance Corporation (KEIC). The agreement will assist collaboration between Australian and Korean companies with regard to international contracts. Businesses will also benefit from the agreement’s streamlined financing and administrative [...]
...read moreInternational student fees are “uninsurable” according to the former CEO of the Australian Council for Private Education and Training. Tim Smith said no one was willing to underwrite the government’s Educational Services for Overseas Students Assurance Fund, designed to guarantee student fees and protect Australia’s most valuable service export, education. “The consumer protection mechanism is [...]
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