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News & Events
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Non executive directors warned over insolvency liabilitiesA leading North West law firm is issuing an urgent alarm call to non executive directors warning them that their personal assets could be seized by creditors if their company becomes insolvent. [November 5, 2009] [In Latest News]
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Doug Richard's accelerated training for startups, London 18th November 2009 - 25% discount for Bytestart readersDoug Richard's School for Startups will be delivering accelerated training to entrepreneurs at The Royal Institution of Great Britain in London 18th November 2009. Bytestart readers can sign up for a 25% discount. [November 5, 2009] [In Events]

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Business planning workshops in London - Nov 12th, Dec 1st 2009Two new business planning workshops will take place on November 12th and December 1st next at the British Library in London - aimed at entrepreneurs and new start-ups. [November 4, 2009] [In Events]

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Newsletter #185 - NI increase will cost 57,000 small business jobs, How to write a business plan for you, not the bank, Brilliant or bankrupt? How to work out if your business idea is viable, How to revolutionise your marketing for free...Online version of our Business121 newsletter - this week includes; NI increase will cost 57,000 small business jobs, How to write a business plan for you, not the bank, Brilliant or bankrupt? How to work out if your business idea is viable, How to revolutionise your marketing for free, 5 classic branding mistakes to avoid and much more [October 30, 2009] [In Newsletter]

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Raising small business tax burden would be very costlyA new independent report suggests that raising the tax burden on small business would ultimately cost the country billions of pounds and hundreds of thousands of jobs. [October 30, 2009] [In Latest News]

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Firms predict return to economic growth in Summer 2010A major survey of 11,000 companies across 15 countries concludes that a strong return to economic growth is not expected to start until summer 2010. The UK firms included in the study are less optimistic than the average. [October 26, 2009] [In Business Statistics]

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The Pitch 2009 - 16th November Grand Final - Register to attendThe winner of The Pitch 2009, the UK’s comprehensive search for new business talent, will be decided on 16th November in London. Read on for your change to attend this free event, and to watch preview trailers. [October 21, 2009] [In Events]

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Newsletter #184 - A Guide to the new Companies House Forms, How to position your business against your competitors, Free tools to help promote your brand online, Top 10 tips to choosing a virtual office...Online version of our Business121 newsletter - this week includes; A Guide to the new Companies House Forms, How to position your business against your competitors, Free tools to help promote your brand online, Top 10 tips to choosing a virtual office, Claiming travel expenses from home to work - the rules and much more [October 15, 2009] [In Newsletter]

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Home Business Awards 2009 - Open for entriesThe 2009 Home Business Awards run by home business website, Enterprise Nation, are now open for entries with a deadline of 6th November 2009. [October 7, 2009] [In Events]

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Tories promise National Insurance holiday for start-upsThe Shadow Chancellor has announced a plan to implement a National Insurance holiday for new business start-ups should the Conservatives win the next election. [October 7, 2009] [In Latest News]

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You can now report tax-dodging businesses via the webFollowing recent initiatives to clamp down on tax evasion, you can now report busineses you believe are evading tax via the web. [October 5, 2009] [In Latest News]

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Newsletter #183 - Companies Act 2006 - Biggest ever company law overhaul completed today, Companies House Form changes, New rules for company directors, How to be the king of creative communication...Online version of our Business121 newsletter - this week includes; Companies Act 2006 - Biggest ever company law overhaul completed today, Companies House Form changes, New rules for company directors, How to be the king of creative communication, How to to finance your business the non-Dragons' Den way and much more [October 1, 2009] [In Newsletter]

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Startups Awards 2009 - finalists announcedThe finalists for the Startups Awards have just been announced. The featured companies are not only surviving the recession, but are utilising the opportunities created by the downturn. [September 29, 2009] [In Events]

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Wealth Wizards - inspiring business owners to make money - London 5th OctoberRachel Elnaugh has created a new experience at the British Library, London to help business owners find motivation during tough times and enhance their money-making abilities. [September 25, 2009] [In Events]

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Bytestart survey shows start-ups defiant during downturnThis summer, we conducted a visitor survey to find out how small business owners (and prospective owners) were dealing with the effects of the recession. The results suggest that the UK's entrepreneurial spirit is alive and well, despite the significant challenges of doing business in the current environment. [September 22, 2009] [In Latest News]

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National Franchise Exhibition - 2nd/3rd October 2009 - Free entry for Bytestart readersThe UK's largest franchise event, providing information on how you can start your own business as a franchisee or how to franchise your existing business, takes place at the NEC Birmingham on 2nd and 3rd October 2009. Bytestart readers can enter for free, saving £13 on the door. [September 22, 2009] [In Events]

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Newsletter #182 - £30 AdWords voucher, New rules for company directors, The low-down on starting a franchise, How to put a pension scheme in place for your employees, Successful pay per click advertising...Online version of our Business121 newsletter - this week includes; £30 AdWords voucher, New rules for company directors, The low-down on starting a franchise, How to put a pension scheme in place for your employees and Successful pay per click advertising [September 17, 2009] [In Newsletter]

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Queen's Awards for Enterprise 2010 - open for entriesThe Queen's Awards for Enterprise 2010 are open for entries until the end of October 2009. Recent award winners have been speaking about the benefits the Award has brought their business. [September 15, 2009] [In Events]

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Business North West - Manchester, 28-29th October 2009The Business North West conference and exhibition takes place at Manchester Central on 28-29th October 2009. [September 11, 2009] [In Events]

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London Connections networking event - 15th September 2009Hundreds of small businesses are set to attend a unique networking in event in the capital later this month. [September 9, 2009] [In Events]

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National everywoman Conference 2009 - London 18th NovemberThe everywoman conference - a dedicated event for female entrepreneurs - takes place in November, at the Hotel Russell in London on November 18th 2009. [September 8, 2009] [In Events]

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HMRC could demand customer information from small businessesHMRC is seeking additional powers to force businesses to provide extra information on their clients and customers, according to a leading accountancy group. [September 8, 2009] [In Latest News]

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Free Intellectual Property rights clinicBusiness owners, inventors and entrepreneurs can get the answers to all their Intellectual Property (IP) rights questions at a free advice clinic to be held in the Intellectual Property Office. [September 4, 2009] [In Events]

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Micro businesses are a good bet during a downturnA recent report suggests that smaller (micro) businesses are more likely to succeed during tough economic times. [August 28, 2009] [In Latest News]

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'Real' business networking as important as ever, despite social media boomDespite the increasing popularity of social networking websites like Twitter and Linked-In amongst small businesses, face-to-face networking is more important than ever, according to a study conducted by a business networking site. [August 27, 2009] [In Latest News]

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Newsletter #180 - The 5 Unbreakable rules of free publicity, How to pull off a successful publicity stunt, Turn past customers into new business, Cloud computing explained, 5 ways to instantly improve your cash flow...Online version of our Business121 newsletter - this week includes; How to pull off a successful publicity stunt, Turn past customers into your best source of new business, Cloud computing explained, 5 ways to instantly improve your cash flow and much more. [August 20, 2009] [In Newsletter]Browse more...Latest NewsNewsletter

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Chinese commercial banks

Chinese commercial banks should establish environmental reporting, assessment, management, and risk evaluation systems to promote sustainable development in China, according to a new report today from WWF and the People's Bank of China (PBoC), the country's financial and monetary regulatory agency.

Towards Sustainable Development: Reform and (the) Future of China's Banking Industry from WWF and the central bank's Financial Research Institute is the first high-level report on sustainable development in China's banking sector.

The report stresses the growing importance of commercial banks in China's effort to realise its national sustainable development strategy and provides specific recommendations on environmental policy changes.

It draws lessons from international standards in the finance industry such as Equator Principles (EPs), as well as the experience of international banks including Citi, Deutsch Bank and HSBC. Although there are a few national pioneers and many Chinese commercial banks have established their own environmental policies, the report concludes that most have failed to take concrete action.

While the banking industry is beginning to pay attention to sustainable development, the report calls on governments, non-government organisations, and the finance sector to drive commercial banks' commitment into action.

Over the past few years, PBoC has been driving sustainable banking through its monetary, interest rate and credit policies.

In 2007, the central bank consolidated an environmental database of Chinese companies, requiring commercial banks to review and weigh each applicant's environmental history before granting their credit applications.

In the same year, PBoC along with the Ministry of Environmental Protection (MEP) and the China Banking and Regulatory Commission (CBRC) established a green credit system. This regulated the availability of credit to companies in violation of environmental laws.

'People's Bank of China is moving along the track set by international experience, while taking into account China's own development strategies,' said WWF-China's Country Representative Dermot O'Gorman.

'WWF will continue to learn from, and provide our expertise to, China's central bank to promote sustainable development and green banking policies in China.'

LARGE COMMERCIAL BANKS

LARGE COMMERCIAL BANKS WILL likely pose a growing threat to big investment banks, although the latter can survive with strong management and close attention to asset quality, Standard & Poor's says.

The credit rating agency appeared to hew closer to the position of Philip Purcell, chief executive of Morgan Stanley, in his public spat last week with Bank of America Corp CEO Kenneth Lewis over whether commercial banks such as Bank of America have the better business model.

Commercial banks are thought to benefit from deeper capital resources, which let them extend low-cost loans or credit lines to help win more lucrative stock and bond business.

As commercial banks become "a greater threat ... we continue to believe that asset quality is going to be the primary driver of banks' health," said Barry Hancock, an S&P managing director, at S&P's global banking conference.

"Tough market conditions increase the importance of good management."

US commercial banks such as No 1 Citigroup Inc, No 2 J.P. Morgan Chase & Co and No 3 Bank of America have used lending to boost market share at the expense of Morgan Stanley, Goldman Sachs & Co, Merrill Lynch & Co and others.

Among 14 large global banks tracked by Thomson Financial, Morgan Stanley, Goldman Sachs and Merrill Lynch lost the most bond and equity underwriting market share between 1998 and 2002--a respective 2.57, 3.75 and 4.58 percentage points.

WILL likely pose a growing threat to big investment banks, although the latter can survive with strong management and close attention to asset quality, Standard & Poor's says.

The credit rating agency appeared to hew closer to the position of Philip Purcell, chief executive of Morgan Stanley, in his public spat last week with Bank of America Corp CEO Kenneth Lewis over whether commercial banks such as Bank of America have the better business model.

Commercial banks are thought to benefit from deeper capital resources, which let them extend low-cost loans or credit lines to help win more lucrative stock and bond business.

As commercial banks become "a greater threat ... we continue to believe that asset quality is going to be the primary driver of banks' health," said Barry Hancock, an S&P managing director, at S&P's global banking conference.

"Tough market conditions increase the importance of good management."

US commercial banks such as No 1 Citigroup Inc, No 2 J.P. Morgan Chase & Co and No 3 Bank of America have used lending to boost market share at the expense of Morgan Stanley, Goldman Sachs & Co, Merrill Lynch & Co and others.

Among 14 large global banks tracked by Thomson Financial, Morgan Stanley, Goldman Sachs and Merrill Lynch lost the most bond and equity underwriting market share between 1998 and 2002--a respective 2.57, 3.75 and 4.58 percentage points.

WILL likely pose a growing threat to big investment banks, although the latter can survive with strong management and close attention to asset quality, Standard & Poor's says.

The credit rating agency appeared to hew closer to the position of Philip Purcell, chief executive of Morgan Stanley, in his public spat last week with Bank of America Corp CEO Kenneth Lewis over whether commercial banks such as Bank of America have the better business model.

Commercial banks are thought to benefit from deeper capital resources, which let them extend low-cost loans or credit lines to help win more lucrative stock and bond business.

As commercial banks become "a greater threat ... we continue to believe that asset quality is going to be the primary driver of banks' health," said Barry Hancock, an S&P managing director, at S&P's global banking conference.

"Tough market conditions increase the importance of good management."

US commercial banks such as No 1 Citigroup Inc, No 2 J.P. Morgan Chase & Co and No 3 Bank of America have used lending to boost market share at the expense of Morgan Stanley, Goldman Sachs & Co, Merrill Lynch & Co and others.

Among 14 large global banks tracked by Thomson Financial, Morgan Stanley, Goldman Sachs and Merrill Lynch lost the most bond and equity underwriting market share between 1998 and 2002--a respective 2.57, 3.75 and 4.58 percentage points.

Tax-saving products

At the times when tax returns are of prime importance for every tax payer, commercial banks are planning to promote their tax saving products such as fixed deposits and equity-linked saving schemes (ELSS).

mainly consisted of instruments belonging to the insurance sector but now banks are coming forward to compete with the sector and therefore planning to aggressively market their products.

A senior official with the State Bank of India said, "Earlier, we were not very aggressive in marketing our tax-saving products as major investment tools. But now we have to devise new strategies as insurance companies have modified their marketing techniques."

Now days, the insurance companies are increasing promoting their products as investment options rather than risk cover tools. So to counter these firms, banks have decided to increase their reach in the segment and provide wider options to the consumers.

Presently, banks tax-saving products are not very popular amongst the investors. Tax saving fixed deposit constitute only 1% to 3% of the total fixed deposits of the banks and ELSS have not yet gained importance in the list of tax saving products.

Besides SBI there are three more public sector banks that are planning to market their tax saving products as better investment avenues. The new marketing strategies will attract the investors' attention towards the difference between their tax-savings products and instruments offered by the insurance firms. They will highlight on the factors like returns on FDs and ELSS are not based on the investor's age unlike the life insurance products. Normally the life insurance companies charge higher premium from the people who are above a certain age.

"We would like to bring this and many other factors to the prospective investor's notice while marketing our product," said an official from a public sector bank. Moreover an official at another PSU bank informed that his bank is appointing special staff for guiding the prospective investors and promoting its various tax-saving products.

MetLife Managing Director, Rajesh Relan said, "Traditionally, life insurance has been viewed as an instrument for both stable returns and risk cover. The recent market volatility has brought the stable ‘investment' aspect of insurance to fore once again."

At present all major life insurance companies such as Life Insurance Corporation, ICICI Prudential, Max New York Life and MetLife are placing their products as excellent investment options rather than just an insurance scheme. Some of them are offering an annual return of as high as 10% on their schemes.

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