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UAE: a brighter outlook for 2021 after a difficult 2020

The UAE’s economy was hit by a double shock in 2020: the collapse in oil prices and the COVID-19 pandemic. According to preliminary estimates, the UAE’s economy shrank by 6.1% in 2020. However, the outlook is brighter for 2021. Coface expects growth at 3.1% thanks to a fast vaccination campaign, a sharp recovery of the global economy and the rebound in energy prices.

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CofaMove: Coface's app for on-the-go credit risk management

Your business moves fast – and sometimes your life moves even faster! Now you can set the pace with CofaMove, the Coface app for swift credit risk management when you’re on the-go.

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Coface reports first-half net income of €123.2m, confirming an excellent start to the year

Coface reports first-half net income of €123.2m, confirming an excellent start to the year. Turnover: €768m, up 7.4% at constant FX and perimeter.

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Is the electric vehicle metals boom sustainable?

The metals used in electric vehicles, such as lithium, cobalt and copper, are at the heart of the revolution currently taking place in the automotive industry. But imbalances between supply and demand are pushing up their prices, even though the market share of electric vehicles remains modest. In its latest analysis, Coface does not foresee any major changes in these price trends over the next two years.

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Coface Barometer Q2 2021: A two-speed world

18 months after the start of the pandemic, access to vaccination is now the main factor setting the pace of people's daily lives and the global economy. GDP growth forecasts for 2021 have been revised upwards (+5.6%), but this is mainly the result of positive surprises from the United States. These improved growth prospects are reflected in world trade: after a 5% decline in volume last year, Coface forecasts an 11% increase for 2021.

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Asia Pacific: Corporate payment delay trend stabilized; companies see brighter outlook, but risks and uncertainty remain

Coface’s 2021 Asia Corporate Payment Survey provides insights into the evolution of payment behavior and credit management practices of over 2,500 companies across Asia Pacific during a pandemic year. Respondents came from nine markets (Australia, China, Hong Kong SAR, India, Japan, Malaysia, Singapore, Thailand and Taiwan) and 13 sectors located in the Asia Pacific region.

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Focus on remote work: The Risks and Opportunities of Virtual Offshoring

Remote work has emerged as a new norm during the Covid-19 pandemic. This cultural shift could allow companies located in developed countries to hire teleworking talent in emerging countries to reduce their labour costs.

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China: rising payment risks in construction and energy sectors despite stronger economic outlook

Coface expects an increase in bond defaults and insolvencies in 2021, especially among sectors that accumulated higher cash-flow risks in 2020 amid a slowdown in credit growth.

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Germany: More insolvencies in the pipeline, despite significant aid

Insolvencies in Germany dropped significantly in 2020 compared to 2019 - despite the worst recession since 2009.

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Coface Barometer Q1 2021: US leads the global recovery, emerging economies lag behind

More than a year after the start of the pandemic, global economic trends are uneven due to lingering uncertainties around the spread of COVID-19. The acceleration of the vaccination process, as well as its effectiveness, are key to an economic recovery

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Coface report looks at China and Australia’s trade relationship

The China-Australia bilateral relationship deteriorated sharply over 2020, with China imposing trade restrictions on a number of Australian exports. But there are growing concerns that an escalation of bilateral tensions will see China hardening its stance towards Australia.

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United States: Stimulus plan paves the way for record trade deficit

As the world's largest importer, and second largest exporter of manufactured goods, the United States has had a trade deficit since the early 1970s. Using an analysis based on historical estimates of a potential trade balance, Coface estimates that the deficit could grow by 56 billion dollars as a result of the stimulus plan.

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The paradox of corporate insolvencies in Europe: Miracle and mirage

In 2020, and even if the real impact of the COVID-19 crisis remains uncertain, the number of insolvencies actually fell in all major European economies. According to our research, the gap between the expected deterioration of the companies' financial health and the number of insolvencies suggests that there is a high number of "hidden insolvencies" that have been postponed, rather than prevented.

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Diversification is one of the many effects of oil price volatility on Middle Eastern and African oil producers

The COVID-19 pandemic’s negative impact on global GDP growth and global trade volumes has caused a sharp drop in oil prices in the spring of 2020. This price drop, even if temporary, has affected Middle Eastern and African oil exporters differently, in line with their national output’s dependence on oil, as well as their fiscal strength and international reserves. Although Coface expects oil prices to average USD 60 per barrel in 2021, their volatility will remain a challenge for producing countries.

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Poland: Payment delays between companies shorten during the pandemic

The year 2020 was marked by the COVID-19 pandemic. In order to mitigate the impact of this difficult economic situation on Polish companies, various liquidity-supporting aid measures were introduced, such as tax and contribution exemptions and deferrals. As a result, despite the extensive economic crisis, payment delays between companies have shortened – however, with these aid measures are to be phased out in 2021, two thirds of companies expect their business activities to deteriorate this year.

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COFACE SA: MOODY'S RAISES THE OUTLOOK FOR COFACE TO “STABLE”

Almost one year since the beginning of the coronavirus pandemic and the associated health and economic crisis, Moody’s has raised the outlook on Coface’s rating to stable.

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Coface FY-2020 results: Net income at €82.9m and 100% pay-out ratio

Coface releases its FY 2020 Financial Results.

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Coface Barometer Q4 2020 - An uneven recovery

In its latest quarterly Barometer and on the occasion of the publication of the country and sector risk guide, Coface highlights an uneven recovery across countries, sectors of activity and income levels.

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Attend our 25th Country Risk Conference 8-10 february

This year at our Country Risk Conference: 3 round tables to embrace the new business risks in a post-covid world.

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Coface wishes you the best for the holiday season

Happy Holidays from everyone at Coface

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