All articles by Antonio Fabrizio
Antonio Fabrizio
NetSol Technologies wins contract with Dutch finance company
NetSol Technologies has signed a new contract to implement its wholesale finance system with a Netherlands-based finance company. The asset finance software provider said that the Dutch company will use the NetSol Financial Suite product for their channel finance business throughout Europe. Head of global sales for NetSol Technologies Naeem Ghauri said: By working in close partnership with our new client we will deliver robust wholesale finance system capabilities to handle many different types of assets, as well as combining our invoice financing functionality into a single, fully integrated, solution.
Fraikin secures contract hire deal with SCA Recycling
Paper reprocessing company SCA Recycling has taken delivery of 21 new DAF 26t rigids from transport lessor Fraikin
Banco Popolare bid on Banca Italease falls short
Italys Banco Popolare has failed to achieve the 90 percent threshold for Banca Italeases shares and is to reopen the bid period for its buyout offer. The Italian banking group launched its offer earlier this year to acquire the 70 percent of Banca Italease it still doesnt own. On July 1, at the end of the offer period set in March, Banco Popolare had reached 84.4 percent of Banca Italeass shares, not meeting the 90 percent target which was conditional to the offer becoming effective.
Banks offer payment holidays to boost Italian SME market
A number of Italian banks together with their leasing subsidiaries have started to offer small and medium-sized businesses various schemes allowing them to postpone the payment of their loan and lease agreements. The schemes, aimed at supporting struggling firms during the economic downturn, have been adopted by Leasint and MPS Leasing & Factoring, two of the Italys major lessors. Italian banking group Intesa Sanpaolo launched a scheme at the end of May that allows a 12-month deferral of the capital element of loans and leasing contracts for those clients that request it, starting from July 2009
Fresh scrutiny of lessors
The EU Commission is looking to introduce swingeing reforms for the financial services sector, with lessors likely to be at the heart of the changes The EU Commission last month proposed the creation of financial agencies with rule-making powers to oversee banks and insurers Under current proposals, this will include the creation of a European Systemic Risk Council to monitor the stability of the financial system as a whole and also a European System of Financial Supervisors to oversee individual financial institutions.
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Liberty Leasing: one to watch
Thats what appears to be happening at Liberty Leasing, the Southampton-based asset finance company specialising in prestige vehicles. Paul Sheedy, one of the companys three directors, said: Weve had the best start of year since we first incorporated in 2001, lending more money for the first five months this year than weve ever done before.
EIB and Intesa Sanpaolo to support leasing investments of Italian SMEs
Italian banking group Intesa Sanpaolo and the European Investment Bank (EIB) have signed an array of agreements totalling 470 million to support investments including leasing made by SME-sized businesses. They include 300 million for small and medium-sized enterprises, 100 million in support of mid-caps for energy, environmental or R&D investments, 50 million to develop new technologies, and 20 million to support school contruction and health initiatives.
SFO still investigating Boston
The company which according to its literature specialises in business development including mergers, acquisitions, corporate restructures, leasing and funding became the subject of an ongoing investigation by the SFO exactly a year ago after a number of leasing companies gathered evidence against the Staffordshire-based company, it is understood
The painful goodbye
The captive arms of many CV manufacturers have been hit hard by truck insolvencies not least by the collapse of Innovate Logistics. Commercial vehicle leasing companies are being hit hard by the growing number of insolvencies among transport, construction and wholesale and retail trade businesses in short, those firms that most use trucks, trailers and vans for their oper-ations.
Scandinavia on the rocks
In Leasing Lifes monthly investigation into the performance of leasing economies, weexamine how there could still be life left in Scandinavias downtrodden leasing industry Construction equipment and vehicle leasing have performed the worst over recent months, according to latest information, and arrears are up.