[BusinessInsider] May 2013 Edition

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International finances and economy newsletter ​

May 2013​

GA discusses regulating the international financial market

London, UK - The Argentine Republic has recently presented to the General Assembly a draft Resolution to adopt a code destined to regulated the international financial market and its interactors, including both financial institutions as well as customers seeking out financial services provided by the former. It is no surprise that such proposal hits the floor at the GA here in London, considering the recent surge in financial activity worldwide. Traditional institutions such as First Choice International and Ziron have begun to see competition in the form of new organizations or new branches of preexisting transnational companies. More and more nations see the potential in entering the value market and set up international offices for their financial service providers.​ This services are not only limited to the approval of credits and loans, but also include financial consulting, insurances and investment groups.​ The proposed regulation aims to provide further security to both sides and shine more transparency on a practice that has long been seen with certain amount of sceptisism by the public opinion, but evidently holds an impressive potential for the players actively engaging in this market.​ Among the key points of the proposal are the validation of certain mechanisms of payment and recovery, the obligation to work with written and legally binding contracts and the creation of a registry of "trusted" providers, who have to approve certain criteria and quality standards to be included.​ Debate has just begun, but optimism is big and the possibility the Code coming into effect is great, and it would not only bring mroe security to the trade, but also help encourage further development of the practice.​

First Choice International selects new HQ

Rotterdam, Netherlands - World leading financial services and military hardware provider First Choice has decided to settle and restructure its operations on a new headquarter located in the Rotterdam, in the Netherlands. This decision comes after an intense lobbying battle where multiple nations pitched in to try seduce the FCI board and draw them to their jurisdiction in order to benefit from the additional income that implies having a major transnational company settle down in one of your cities in addition to the hundreds of new jobs that will be created directly and indirectly. Not to mention the infrastructure investment that the construction will bring, resulting in an economical boost for the municipality of Rotterdam.​ Business Insider was able to obtain the official bid presented by the dutch, where we can see that Amsterdam offered tax benefits resulting in only 12% to be paid on to the revenue of the company, and guidelines for the potential rent, spanning up to almost $150,000.00 per floor per month.​ The Netherlands narrowly overcame the italian bid, which was also very competitive. It is speculated that not only financial aspects influeced the final decision, but that political affinity had an important impact as well. The Netherlands have established themselves as a stable and serious nation thanks to its current Government, providing more foresight to FCI in cmparison with a Italy who, even though respected, is more likely to intervene and have strong opinions on foreign matters, which could eventually lead to the coutnry being involved in controversies. This is something FCI clearly doesn't approve if we go by their traditional morality, leaving the contest served and ready to the dutch.​ This restructuring will mean not only new opportunities for FCI and the chance to further establish themselves as the leading financial actor globally thanks to more trasparency and accoutnability, but it will also bring a major impact on their revenue due to being now reached by taxing duties and new major maintenance and operational costs.​

Emerging swedish company Storhet Auktioner launches with controversy

Stockholm, Sweden - A new financial player has recently obtained international juridical personality, enabling them to formally engage in the international financial and hardware market with national and private clients and organizations. Not much is known about this private swedish company, which for the moment lacks an official website with accesible public information, beyond that it is of swedish origin and that it strives to work alongside international and local legislation to ensure that practices are best suited to their clients and consumers around the world. They like to highlich the fact that due to being of private nature, politics, international disputes and trade bans have no effect on the way they operate, luring this way new potential non-traditional customers.​ They entered the market with auction services but it was quickly evident that further services will be provided and its scope and agenda are broader that just being an auction house.​ But just few days after its entering into scene, the swedish company made headlines due to a controversy with the French Republic, when french Minister Florence Parly publicly declared that it had attempted to engage in business with Storhet and that after several communications the negotiation not only not resulted in any sale, but concluded with the private entity accusing renown FCI of incuring in unethical business practices in an unexpected turn of events. It is not known why France publicly defended FCI, but a possible reason could be the international financial organization providing equipment or financial aid to Paris. Eventually, France decided to ban the company from operating in their territory.​ On the other hand, specialists speculate that this could be a move by Storhet Auktion to draw attention upon them and, by antagonizing with established providers such as FCI, challenge their position and try take a slide of their market share.​ After this incident, which was made public through social media and press releases, no further public actions have been taken by Storhet.​

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