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United Kingdom projects to reach L10b by 2020

LONDON: The total value of business loans provided by alt-fi platforms in the United Kingdom projects to reach  L10 Billion ($15 Billion) by 2020, according to a report commissioned by global fin-tech provider Fiserv. Even though they are responsible for 43 percent of all U.K. private sector turnover, SMEs still encounter a challenging credit market. Government post-recession efforts to boost ... Read More »

France launches tender for floating offshore wind projects

PARIS: France has launched a tender for several floating offshore wind turbine projects in what is set to be the first attempt to test this new technology on an industrial scale. French environment agency ADEME on Wednesday posted a tender document inviting companies to submit proposals to build floating wind farms with between three to six turbines each, with a ... Read More »

Hungarian projects economic growth at 3.1% in 2015

BUDAPEST: The state secretary for budgetary affairs told television channel M1 that the Hungarian government has raised this year’s economic growth projection from 2.5 per cent to date to 3.1 per cent, Péter Benő Banai. Péter Benő Banai also said that the Government submitted Hungary’s Convergence Programme to the European Commission on 30 April. The convergence programme lays down regarding ... Read More »

Hungary’s Projects GDP growth 3.1% in 2015

BUDAPEST: The Hungarian government has raised its projection for GDP growth this year from 2.5% to 3.1%, state secretary Péter Benő Banai said on public television last week, according to Hungarian news agency MTI. The projection was raised in light of favorable data, which was recently released, Banai said. The change coincided with the cabinetʼs submission of Hungaryʼs updated Convergence ... Read More »

Hungary’s Projects GDP growth 3.1% in 2015

BUDAPEST: The Hungarian government has raised its projection for GDP growth this year from 2.5% to 3.1%, state secretary Péter Benő Banai said on public television last week, according to Hungarian news agency MTI. The projection was raised in light of favorable data, which was recently released, Banai said. The change coincided with the cabinetʼs submission of Hungaryʼs updated Convergence ... Read More »

S&P projects Hungary’s midterm GDP growth at 2.5%

BUDAPEST: The Standard and Poor’s (S&P) has raised its projection for Hungary’s mid-term GDP growth to 2.5% from 2%. The projection is the same as the government’s official 2.5% forecast for this year. In March Hungary’s junk credit rating also has been upgraded by Standard & Poor’s, which cited the country’s improving growth outlook and its better preparedness to handle ... Read More »

S&P projects Hungary’s GDP growth at 2.5% for midterm

BUDAPEST: The Standard and Poor’s (S&P) has raised its projection for Hungary’s mid-term GDP growth to 2.5% from 2%. The projection is the same as the government’s official 2.5% forecast for this year. In March Hungary’s junk credit rating also has been upgraded by Standard & Poor’s, which cited the country’s improving growth outlook and its better preparedness to handle ... Read More »

S&P projects Hungary’s midterm economic growth to 2.5%

BUDAPEST: Standard & Poorʼs raised its projection for Hungaryʼs mid-term GDP growth to 2.5% from 2%, in accordance with the Hungarian government’s projection for this year, however, Hungary’s Economy Minister Mihály Varga foresees that the growth rate could reach 2.8%-2.9%, Hungarian news agency MTI said. Standard and Poor’s put Hungaryʼs Banking Industry Country Risk Assessment (BICRA) score at 8 ˜ ... Read More »

Hungary budget projects 2.5% economic growth in 2016

BUDAPEST: Hungary’s Minister for National Economy, Mihály Varga, has put some flesh on the bones of his Government’s pledges on tax cuts. Varga, giving details of the draft budget to be submitted to Parliament on May 13, 2015, emphasized that the country’s projected economic growth of 2.5 percent will enable tax cuts aimed particularly at families and the lower paid. ... Read More »

Bank of Spain projects 2.8% growth for 2015

MADRID: The Bank of Spain said that Spain’s economy accelerated in the first three months of 2015 due to higher household spending. Economic output expanded at an estimated 0.8 per cent from the previous quarter, the Bank of Spain said. It projected growth of 2.8pc for 2015 as a whole, up from the 2pc it forecast in December. Spain’s economic ... Read More »

Hungary’s special taxes to generate revenue worth 1.9% of GDP in 2015

BUDAPEST: The Hungarian Government imposes special taxes on financial institutions, energy service providers, and telecommunications, retail, and advertising companies. These taxes are projected to generate revenues worth 1.9 percent of gross domestic product (GDP) in 2015, of which most will come from financial institutions (1.2 percent of GDP). In its 2015 Article IV consultation report for Hungary, the IMF said ... Read More »

South Africa’s revenue to rise by 9.6% to ZAR986.4b in 2015

CAPE TOWN: South Africa’s Minister of Finance, Nhlanhla Nene, has disclosed that revenue collections for the 2014/15 fiscal year are projected to have grown by 9.6 percent during the 2014/15 fiscal year to ZAR986.4bn. The three main revenue contributors for 2014/15 were personal income tax (at ZAR 353.8bn, up 13.8 percent on the previous fiscal year), corporate income tax (at ... Read More »

Bank of Spain projects 2.8% growth for 2015

MADRID: The Bank of Spain said that Spain’s economy accelerated in the first three months of 2015 due to higher household spending. Economic output expanded at an estimated 0.8 per cent from the previous quarter, the Bank of Spain said. It projected growth of 2.8pc for 2015 as a whole, up from the 2pc it forecast in December. Spain’s economic ... Read More »

Hungary’s National Bank projects 2.4% budget deficit for 2015

BUDAPEST: Hungary’s budget deficit would come in at 2.4% of gross domestic product (GDP) according to EU accounting methods in 2015, stated National Bank of Hungary. The bank said in its latest inflation report that the deficit could drop to 2.2% of GDP in 2016. The bank kept its projection unchanged for this year, but raised it for 2016 from ... Read More »

LNG import projects charm Chinese investors

ISLAMABAD: A delegation of Chinese investors has nodded to invest in Pakistan’s energy sector especially in the projects of LNG import and also looked into the other investment opportunities available in the country. The delegation, led by Bank of China International Chief Executive Officer/Chairperson Li Tong, has expressed their interest during a meeting with Minister for Petroleum and Natural Resources ... Read More »

Pak-China Corridor a game changer for whole region: Ahsan

ISLAMABAD: The Federal Minister for Planning, Development and Reform Ahsan Iqbal said that China Pakistan Economic Corridor (CPEC) is a game changer for Pakistan. It will usher a new era of progress and prosperity in the country. He was chairing introductory meeting of the Transport Group of CPEC in Planning Commission. The meeting was attended by officials from Ministry of ... Read More »