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Dubai Eye 103.8 Business Breakfast interview with Massimo Falcioni, CEO Middle East Countries

Dubai Eye 103.8 Business Breakfast interview with Massimo Falcioni, CEO Middle East Countries

July 25th, 2017

 

Massimo Falcioni, CEO of Coface, spoke to us about credit risk management. We asked if low oil prices are making it harder for UAE companies to raise funds? 

 

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UAE non-oil private firms see business booming

UAE non-oil private firms see business booming

May 18th, 2017

 

The majority of non-oil private sector companies in the UAE are upbeat over future economic outlook with 52.2 per cent forecasting higher sales and 39 per cent anticipating improvement in cash flows, a report said. Most exporters share a cautiously positive outlook on future perspectives, with 43.5 per cent of them expecting increased profitability, according to the Credit Opinion Survey for the UAE conducted by Coface, a worldwide leader in trade credit management solutions and risk information services..

 

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UAE’s non-oil economy to make gains

UAE’s non-oil economy to make gains

May 16th, 2017

 

Private companies in the UAE operating outside the oil sector expect to be more profitable in the next six months, says a new survey. About 43.5 per cent of exporters and 42 per cent of UAE domestic suppliers forecast profitability in the next six months, with 52.2 per cent and 59 per cent respectively expecting a gain in sales from the previous year, according to the inaugural survey by Coface.

 

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Survey shows optimism among non-oil private companies in UAE

Survey shows optimism among non-oil private companies in UAE

May 16th, 2017

 

Coface, the worldwide leader in trade credit management solutions and risk information services, has published it's first-ever Credit Opinion Survey for the UAE. This was conducted among 136 companies from 11 different sectors with the aim of understanding trends and developments in corporate payments.

 

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GCC economies expected to post modest recovery in 2017

GCC economies expected to post modest recovery in 2017

February 5th, 2017

 

Dubai: Economic growth is expected to improve in 2017 across the GCC states, except in Oman and Bahrain, according to the global and regional economic outlook and sector analysis of Coface, a trade credit management solutions and risk information services provider.The GCC economies have recorded a sharp slowdown in 2016 amidst public sector spending cuts, tightening liquidity, and investor uncertainty. All GCC countries except Kuwait, had seen economic contraction in 2016.

 

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Liquidity conditions to constrain loan growth

Liquidity conditions to constrain loan growth

February 5th, 2017

 

Dubai: Liquidity remains a major constraint to credit growth across the GCC. In the UAE, there is a 4 per cent rise in delay of payments, because of a lack of bank lending and a liquidity crunch.“Notifications of overdue have increased in key sectors of the country’s economy. Comparing figures of third quarter 2016 from the previous quarter of the same year, the highest increase of overdue notifications in the UAE was registered from the metal traders and building materials or construction sector (+26 per cent), followed by the general trading sector (+22 per cent),” said Massimo Falcioni, CEO of Middle East Countries at Coface.

 

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UAE to gain momentum in H2

UAE to gain momentum in H2

February 5th, 2017

 

The UAE economy is set to pick up momentum by the second half of 2017, largely driven by a much-anticipated recovery in commodity prices and Expo 2020 infrastructure investments. Expo 2020 Dubai, organisers of the global trade expo, will award 47 construction contracts worth Dh11 billion this year, on top of 98 non-construction contracts worth Dh360 million in 2017.

 

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UAE's private sector clocks fastest growth in 6 months

UAE's private sector clocks fastest growth in 6 months

February 5th, 2017

 

Non-oil private sector in the UAE recorded in January its strongest growth in six months on the back of expansions in output and new work, Emirates NBD said on Sunday. Khatija Haque, head of Mena Research at Emirates NBD, said the January Purchasing Managers' Index (PMI) data shows that output and new order growth remained strong, supported by improved foreign demand.

"The improvement in export demand last month is particularly welcome after a relatively soft 2016," said Haque.

 

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Late payments to UAE firms doubled last year, says credit insurer Coface

Late payments to UAE firms doubled last year, says credit insurer Coface

February 5th, 2017

 

UAE companies waited twice as long as last year to receive payments, says the French credit insurer Coface.The company, which specialises in protecting clients from their customers defaulting, said 2016 was a tumultuous year for trade, which meant many companies had to wait twice as long for payment as a year earlier.The construction sector was among the latest payers, with companies delaying payments by an average of 123 days longer that the contracted payment schedule.

General trading was next on the list, delaying payments by an average of 47 days, and the food sector by an average of 34 days.About 800 companies were categorised as "runaways" in Dubai alone – leaving the country because they were unable to pay their debts.

 

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UAE debt runaway cases up 200% in 2016

UAE debt runaway cases up 200% in 2016

February 5th, 2017

 

The number of cases of UAE businessman running away with unpaid debts increased 200 per cent from Q3 2015 to Q4 2016, according to trade credit firm Coface. In a GCC economies report, the firm said a total of 814 runaway cases were seen in the emirates of 23,000 companies monitored across the UAE and Saudi Arabia. The firm also noted a 4 per cent rise in the delay of payments in the UAE due to a lack of bank lending, led by a 26 per cent increase from metal traders, building materials and construction firms and 22 per cent increase in the general trading sector.

 

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Credit insurer Coface expects easing in payment delays in Saudi

Credit insurer Coface expects easing in payment delays in Saudi

February 5th, 2017

 

Payment delays in Saudi Arabia should ease gradually in 2017 after recent payouts by the government to companies, particularly builders, the regional CEO at credit insurer Coface said on Sunday. Companies in the kingdom and other Gulf states have sometimes had to wait months to be paid for projects as low oil prices have prompted governments to conserve cashflow. In Saudi Arabia the situation eased in the final months of 2016 as the government disbursed about SAR100bn ($26.66bn) in November and December, according to statements by officials and central bank data.

 

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2.5 ٪ النمو المتوقع في الإمارات 2017

2.5 ٪ النمو المتوقع في الإمارات 2017

February 5th, 2017

 

توقعت مؤسسة «كوفاس»، المتخصصة عالمياً في مجالات حلول إدارة الائتمان التجاري وخدمات معلومات المخاطر، ارتفاع معدل النمو في الإمارات خلال عام 2017 ليصل إلى 2.5%، بالمقارنة مع 2.3% في عام 2016، مستفيدة في ذلك من كون اقتصادها أكثر تنوعاً ولا يعتمد على النفط فقط، كما هو الحال في الدول الأخرى في مجلس التعاون.

وأضافت «كوفاس» في تقرير «الآفاق الاقتصادية العالمية والإقليمية وتحليل القطاعات» أن اقتصادات دول مجلس التعاون الخليجي - باستثناء سلطنة عُمان والبحرين ستشهد تحسناً نسبياً في عام 2017، في أعقاب التباطؤ الذي شهدته معدلات النمو في كافة دول المنطقة باستثناء الكويت خلال 2016 نتيجة تراجع إنفاق القطاع العام، وضغوط السيولة وحالة التشكك السائدة لدى المستثمرين.

 

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اقتصاد الإمارات ينمو العام الحالي إلى 2.5 % بفضل التنوع والبنية التحتية

اقتصاد الإمارات ينمو العام الحالي إلى 2.5 % بفضل التنوع والبنية التحتية

February 5th, 2017

 

توقعت مؤسسة «كوفاس»،المتخصصة في مجالات حلول إدارة الائتمان التجاري وخدمات معلومات المخاطر، ارتفاع معدل النمو في الإمارات إلى 2.5 %، عام 2017، بالمقارنة مع 2.3 % في عام 2016، مستفيدة في ذلك من كون اقتصادها أكثر تنوعاً ولا يعتمد على النفط فقط، كما هو الحال في الدول الأخرى في

مجلس التعاون، التي من المتوقع أن تشهد اقتصادياتها -باستثناء سلطنة عمان والبحرين- تحسناً نسبياً في عام 2017، في أعقاب التباطؤ الحاد الذي شهدته معدلات النمو في كافة دول المنطقة (باستثناء الكويت) خلال عام 2016؛ نتيجة تراجع إنفاق القطاع العام، وضغوط السيولة وحالة التشكك السائدة لدى المستثمرين.
قال ماسيمو فيلتشيوني، الرئيس التنفيذي لكوفاس في منطقة الشرق الأوسط: «واصل اقتصاد الإمارات التمتع بالمرونة في مواجهة انخفاض أسعار النفط، وذلك بفضل تنوع البنية الاقتصادية للبلاد، إلا أن انخفاض العائدات النفطية أدى إلى تقليص الإنفاق الحكومي، ما خلف تأثيراً عكسياً في كافة الأنشطة الاقتصادية، متوقعاً أن يمنح الارتفاع الطفيف الذي تشهده أسعار النفط الاقتصاد الإماراتي دفعة إلى الأمام».

 

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ACCI signs MoU with Coface, NGI

ACCI signs MoU with Coface, NGI

October 17, 2016

The Ajman Chamber of Commerce and Industry (ACCI) has signed a Memorandum of Understanding (MoU) with Coface Emirates Services and National General Insurance Company (NGI) to extend trade credit solutions and risk management services to member companies of the Chamber. The agreement, signed by Abdullah Omar Al Marzouqi, Executive Director of Membership Registration and Transactions Services at Ajman Chamber, and Massimo Falcioni, Chief Executive Officer for Middle East at Coface, aims to support the Chamber members that have existing or are planning to expand into trade business, providing a safer business environment.

 

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Coface strengthens UAE presence with new DIFC insurance licence

Coface strengthens UAE presence with new DIFC insurance licence

September 7, 2016

 

Coface, the worldwide leader in credit insurance, has obtained a new company licence from the Dubai Financial Services Authority (DFSA) to offer insurance management and intermediation services in the Dubai International Financial Centre (DIFC), strengthening its presence in the UAE through insurance services. 

 

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Coface gets new DIFC insurance licence

Coface gets new DIFC insurance licence

September 9, 2016

 

Coface, a world leader in credit insurance, has obtained a new company licence from the Dubai Financial Services Authority (DFSA) to offer insurance management and intermediation services in the Dubai International Financial Centre (DIFC), strengthening its presence in the UAE through insurance services.  

 

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Coface strengthens UAE presence with new DIFC insurance licence

Coface strengthens UAE presence with new DIFC insurance licence

September 7, 2016

 

Coface has obtained a new company licence from the Dubai Financial Services Authority (DFSA) to offer insurance management and intermediation services in the Dubai International Financial Centre (DIFC), strengthening its presence in the UAE through insurance services.

 

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UAE better covered from oil price decline

UAE better covered from oil price decline

July 11,2016

 

The UAE has facing economic headwinds from decline in oil prices and global economic events from mid-2013 but the economy is expected to rebound from the second half of this year according to two research reports from credit insurance firm Coface and Credit Suisse, respectively.

 

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UAE tourism investments to hit Dh 28.2b

UAE tourism investments to hit Dh 28.2b

July 12, 2016

 

Visitor spending in the UAE is set to increase by 3.3 per cent in 2016 as the country is on track to attract more than 15 million foreign visitors, while tourism investments are poised to rise by 2.8 per cent to reach Dh28.2 billion in 2016, according credit insurance leader Coface.

 

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Forecasting Egyptian opportunities

Forecasting Egyptian opportunities

February 2016 

 

A strategic geographical location combined with a growing environment of business opportunity makes Egypt an attractive market for global investors, business owners and entrepreneurs. The following feature takes a closer look at the immense possibilities…

 

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Firms in insurance, reinsurance services rewarded

Firms in insurance, reinsurance services rewarded

February 10, 2016

 

Coface Emirates Services, the UAE arm of the world’s leader in trade credit management solutions and risk information services, has been presented the Best Trade Credit Management Solutions Provider award at the Mena Insurance Review Awards 2016, held recently at a local hotel in Dubai.

 

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Dubai Chamber workshop focuses on turning Africa risks into rewards

Dubai Chamber workshop focuses on turning Africa risks into rewards

March 24, 2016

 

First of the Business Beyond Borders series to support trading with Africa is launched in cooperation with Coface.

 

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DCCI launches ‘Business Beyond Borders’

DCCI launches ‘Business Beyond Borders’

March 24, 2016

 

As part of its efforts to explore the Africa market, the Dubai Chamber of Commerce and Industry (DCCI) launched the Business Beyond Borders Series entitled Africa — Turn Risks Into Rewards workshop in cooperation with Coface at the Chamber premises on Wednesday.

 

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Dubai Chamber workshop focuses on trade credit management solutions

Dubai Chamber workshop focuses on trade credit management solutions

June 15, 2016

 

As part of its Business Beyond Borders Series launched earlier this year, the Dubai Chamber of Commerce and Industry in cooperation with Coface and NGI organised a workshop on Trade Credit Management Solutions, at the Chamber premises recently.

 

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GCC economies hit by oil price drop, to grow 3.4% in 2015

GCC economies hit by oil price drop, to grow 3.4% in 2015

September 14,2015

The UAE and Saudi Arabia have fared better than their GCC counterparts because of economic diversification, says report.

 

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Falling oil prices: the reaction of the GCC countries

Falling oil prices: the reaction of the GCC countries

14 September,2015

Sharp decline in oil prices reveals the importance of economic diversification.

 

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Oman, Bahrain ‘most affected’ by oil price slump

Oman, Bahrain ‘most affected’ by oil price slump

14 September,2015

Oman and Bahrain are the most affected, while Saudi Arabia, UAE, Kuwait and Qatar, in the GCC are less impacted by the lower oil prices, an industry expert said.

 

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UAE to post strong growth of 3.1%

UAE to post strong growth of 3.1%

October 28, 2015

DUBAI: According to Coface, a worldwide leader in trade credit management and risk information solutions, the UAE economy will post strong growth of 3.1 per cent in 2015, very close to the GCC GDP growth forecast of 3.2 per cent. Saudi Arabia is expected to grow by 2.5 per cent.

 

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In Discussion with Coface chief economist Julien Marcilly

In Discussion with Coface chief economist Julien Marcilly

October 28, 2015

Global chief economist of French advisory firm Coface, Julien Marcilly joins us in the studio to discuss global business trends and risks with a regional focus.

 

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UAE economy among most diversified in GCC

UAE economy among most diversified in GCC

October 28, 2015

The UAE economy is one of the most diversified among the GCC countries and will post 3.1 per cent gross domestic product (GDP) growth this year despite lower oil prices, according to an expert.

 

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Dubai Exports, Coface sign MOU to promote export and trade in UAE

Dubai Exports, Coface sign MOU to promote export and trade in UAE

October 28, 2015

Dubai Exports, the export promotion agency of the Department of Economic Development – Government of Dubai, signed a Memorandum of Understanding (MoU) with Coface, the Compagnie Française d’Assurance pour le Commerce Extérieur, for co-operation in promoting trade and export. 

 

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Coface UAE economy to post strong growth of 3.1% in 2015

Coface UAE economy to post strong growth of 3.1% in 2015

October 28, 2015

Coface Country Risk Conference discusses the impacts of low oil prices, economic diversification, and greater integration with global trade in the region’s economy

 

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Mr.Massimo Falcioni's interview on CNBC Arabia

Mr.Massimo Falcioni's interview on CNBC Arabia

October 29, 2015

CNBC Arabia interview's Mr. Massimo Falcioni, Head of Middle East Countries at Coface.

 

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Dubai Exports and Coface sign MOU to promote export and trade in UAE

Dubai Exports and Coface sign MOU to promote export and trade in UAE

October 28, 2015

Dubai Exports, the export promotion agency of the Department of Economic Development – Government of Dubai, today signed a Memorandum of Understanding (MoU) with Coface, the Compagnie Française d’Assurance pour le Commerce Extérieur, for co-operation in promoting trade and export.

 

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UAE economy to post strong growth of 3.1% in 2015

UAE economy to post strong growth of 3.1% in 2015

October 28, 2015The importance of economic diversification, increased global trade, and foreign assets for the GCC countries was highlighted at the Coface Country Risk Conference yesterday.
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Egypt GDP growth seen at 4.4% in 2015-2016

Egypt GDP growth seen at 4.4% in 2015-2016

November 16, 2015

Improved political stability, economic reforms, foreign investment supporting recovery: Coface

 

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Credit insurer Coface expects fast growth in Middle East

Credit insurer Coface expects fast growth in Middle East

November 16, 2015

The French trade credit insurer Coface expects to help more companies in the Middle East to access funding and its credit exposure in the region to rise by 30 per cent next year as projects increase.

 

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Gulf companies want paperwork, not handshake to seal the deal

Gulf companies want paperwork, not handshake to seal the deal

March 14, 2013

After generations of being content to agree a business transaction with a nod of agreement or a simple cash payment, traders in the UAE and Gulf region are increasingly looking for texts and titles to underpin trust.

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The safety net

The safety net

February 24, 2013

An increase in cross border trade is a result of globalisation and melting borders. But this globalisation has also brought with it increased risks and uncertainties. To ensure that trade takes place smoothly, we have companies like Coface, which provide us with the assurance we need.

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10 upstarts hot on the heels of Brics economies

Gulf News

March 31, 2014

Indonesia, Bangladesh and Ethiopia are among 10 countries set to take over as emerging economies from the powerful Brics nations as they struggle with growing pains, a French credit body said on Tuesday.

 

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Coface appoints Middle East head

Massimo Falcioni appointed Head of Middle East

September 10,2014

Coface has appointed Massimo Falcioni as head of Middle East countries.

 

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Coface strengthens organisation in the region, with appointment of Massimo Falcioni as Head of Middle East countries

Coface strengthens organisation in the region, with appointment of Massimo Falcioni as Head of Middle East countries

September 10,2014

Coface strengthens organisation in the region, with appointment of Massimo Falcioni as Head of Middle East countries.

 

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Coface strengthens organisation in the region, with appointment of Massimo Falcioni as Head of Middle East countries

Coface strengthens organisation in the region, with appointment of Massimo Falcioni as Head of Middle East countries

September 10,2014

In line with its growth strategy, Coface has announced the appointment of Massimo Falcioni as Head of Middle East countries.

 

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مجموعـة كوفيس تعين ماسيمو فالتشيوني رئيساً لأعمالها في الشرق الأوسط

مجموعـة كوفيس تعين ماسيمو فالتشيوني رئيساً لأعمالها في الشرق الأوسط

10 September,2014

Coface has appointed Massimo Falcioni as head of Middle East countries.

 

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Are you a journalist and wish to do an interview with Coface, looking for information or want to enroll to receive our latest assessments and other press releases?

 

Please contact:

Iphigenia VON MOOCK TSIPAS

+971-4-3099100

 iphigenia.vonmoock@coface.com

Press

Coface Quarterly 'Panorama Sectors'

zawya

September 30, 2013 

 

Coface downgrades its credit risk assessment in three business sectors: chemicals, pharmaceuticals and automotive Chemicals, pharmaceuticals and automotive: increased credit risks in Europe

 

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'UAE growth is built on solid foundations', says expert

'UAE growth is built on solid foundations', says expert

April 16,2013 

The UAE's recovery is "well underway" according to an expert from the country's biggest bank who on Monday revealed the lender expects the economy will grow at a faster rate in 2013 than last year.

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Trade insurance to help cash-strapped UAE firm

Trade insurance to help cash-strapped UAE firm

April 16, 2013

 

Trade insurance to help cash-strapped UAE firms

 

 

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Coface maintains its Country Risk Assessment for the GCC

Coface maintains its Country Risk Assessment for the GCC

April 15, 2013

 

While Risk environment and business climate continues to deteriorate in South European countries, Coface is nevertheless maintaining its country risk assessment for GCC

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Country Risk Conference Coverage

Country Risk Conference Coverage

April 14, 2013

 

Watch a interview of Coface Emirates Services Country Manger Mr. Gregory Lehenand.

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Coface predicts UAE trade credit insurance market to grow 50% in two years

Coface predicts UAE trade credit insurance market to grow 50% in two years

March 15, 2013

 

Trade credit insurance in the UAE is expected to grow by 50 per cent within two years in terms of volume of transactions covered, according to a report
.

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