woensdag 7 oktober 2009

No discount for Rolls-Royce clients, but four years free service


Rolls-Royce customers should not expect a big discount on their purchases. Rolls-Royce offers free car maintenance and all car parts are covered by the manufacturer for the first four years. Therefore,most Rolls-Royce owners buy a new car every four years. This promotion profits Rolls-Royce because their cars don't require much maintenance.

Mohamed Massini


Make youth movement - banks!


A few weeks ago I, as financial responsible of VKSJ Sint-Paulus, was beeing confronted again with a great lack in this country: banks for youth movements. It was the fifth time that I (together with a few other people) was invited to our bank, again for more than 10 signaturesand a lot of questions. The banker was very confused by the 10 accounts with each an other weird name (for example: kim, zep, sloebers,...) and another a accountholder. A lot of paper and signatures were spilled and we left the banker with a stressful head and a lot of work. So if you're looking for a niche, this is an option: develop a banking system were youth movements can easily get more than 2 accounts, change from accountholder, get a low charged insurance,...


Source: own experience
Melissa Matheussen

dinsdag 6 oktober 2009

Will the stock market crash again?


Almost everyone in the world thinks that the crisis is over and the economy is recovering, but could they be wrong? Experts think that there is a possibility for a new stock market crash! In time people will realize that the economic growth is not so big as the they think it is and the reasons why companies are doing good is that they are supported by the government, this will let to stock market correction. Not only the stock market will suffer but the whole economy!
Laurens Traens
Bron: de standaard

€5000 for your old car?

Do you drive an old, rusty and bumped car and you want to get rid of it, no matter what it takes? Well, don't! Cardoen offers you a recycling subsidy from at least €5000, variating in some cases to up to €15000, depending on the car you're willing to buy at Cardoen. The only condition required is that you can drive your car to your Cardoen dealer and that the buyer of the new car is the car's owner for at least six months.
For more information, check the Cardoen website.

Nicola Platteau

German shareholders claim 50bn $


The German newspaper Handelsblatt, who had the ability to check information of the claim collector Epic System, counted that the shareholders of their country claim 50bn$ from Lehman Brothers, the Belgians 453million dollars.
Lehman Brothers is the business bank that went bankrupt just at the beginning of the financial crisis, september 2008. In Germany, the greatest creditors are the central bank of Germany, Deutsche Bank and the BdB, for their institutional financiers. In Belgium Handelsblatt noticed the greatest claims were also those from our greatest banks, such as Dexia, BNP Paribas Fortis and KBC, but also some smaller claimers for 'just' some millions of dollars. You can read about it (and find the photo) here.

Wouter Snoeck

source: Belgian newspaper Tijd

Online savings accounts, a good way to economize?

With basic interests on an all time low, everybody is looking for better ways to invest their money without taking too many risks. A very popular alternative for the traditional savings account is the online savings account, but is the profit worth the change?



Most people, groundlessly, don't trust the online savings account because it is 'online' and therefore dangerous, but are you willing to take 'the risk'?


Maxime Meulemeester


Source: Netto


Will the high saving continue?


After ten years of a falling saving ratio, British households' thrift has increased sharply over the past two years (see chart), but will this phenomenon go on?
The fact that people are losing their trust issues with the economy and that they believe their own financial positions to improve, could indicate a stabilisation of saving.
On the other hand, equity and house prices are still relatively low and after having built up high debts, people may want to rebuild their reduced wealth by saving more.
Over all, we can put that people will probably keep up the high saving over the coming year.

Anesa Selimovic

Bel-20 on the way to recovery..

Since Tuesday the Bel-20 stock market has known the best increase since March this year with a total victory of 3.3%.

Australia's rate increase, the capital increase of the societé generale and the buying advice given by the bank of America Merril Lynch concerning the European shares have resulted into a big event for certain stockmarkets, especially for the Bel-20. One of the big heroes to whom the entire credit should go is KBC who has known a growth of 15.4%. But next to KBC the other participants are also heading into the same direction.. so lets observe and see what happens the coming days.

Jaskiran Singh

Central bankers accuse IMF of failures before crisis


A group of the world’s leading central bankers has criticized the International Monetary Fund (IMF) for acting not forcefully enough in the run-up to the financial crisis. The question of effectives came under special attention because of a G30 report that had found out that on average fifteen of twenty-four IMF officials did not take part in IMF board discussions on reports into individual countries — what the G30 called an “abysmally low” attendance rate. The G30 requires reforms on the IMF, including a rebalancing of power within the organization to reflect the changing global economy. The IMF already said that it would consider all suggestions on how it might reform their policy.

Source: Timesonline

Karel Supré

Belgium: Increasingly less attractive

Belgium attracts increasingly less foreign investments, last year there was 33 percent less invested in Belgium than in 2007.

In 2008 they invested especially in the chemical and metal industry, on the other hand the investments in the pharmaceutical sector and service industry decreased sharply.
The most important investors are still companies from the US, Germany and the Netherlands.

The cause of this strong fall is partly the economical crisis, but also a negative trend which occurs already during a few years.

Laurence Seynhaeve
Source: De Standaard

What to do with illegal banks in the Netherlands


C.B. Misier, owner of Surigoud in Rotterdam, suffers from illegal competition.
C.B. Misier appears to be the only one to have a license to exchange curreny and yet he owns a market share of merely 10%.
One of the illegal competitors who makes life hard on C.B. Misier, claims that it is a must for them to exist so that Surinamese people also have the chance to exchange their money.
These banks do not offer any form of guarantee ,however, it's still the only way for many Surinamese people to exchange their money.

For more information click here

Emre Pehlivan

Dexia sells Crédit du Nord

Societe Generale SA has entered into negotiations with Dexia to buy the Belgian-French financial services group's 20 percent stake in Credit du Nord, a deal they said they expect to complete before the end of the year. The book value of the stake in Credit du Nord was, at the end of June, 508 million euros, Dexia's annual report shows. Dexia wants to sell their stake in Credit du Nord because of the restructuring of the group activities. Société générale is also planning a raise of capital to pay off the French state's funding.

Thomas Rotsaert

Source: De Tijd


Asian countries hope to prevent property meltdown


Central banks and regulators in several Asian countries are planning to control the rising property prices. the sharp rise of prices on Asian real estate markets and the very low interest rates have made speculation very interesting. This may lead to an asset bubble as seen in the US. Hoping to prevent such bursts, rather than to clean them up when bursted, Asian authorities have severised the rules regulating the loans of the real estate sector.
Stefan Troch

Reserve Bank of Australia raises rates


Today, the Reserve Bank of Australia has raised its interest rate from 3 per cent to 3,25 per cent. This makes Australia the first nation of the G20 to raise interest rates after the global interest decreases due to the financial crisis. The Australian dollar soared on this news and had climbed, compared with the American dollar, to the highest level since August 2008. The Central Bank of Australia wants to recover the monetary policy gradually, now that the worst of the economic crisis is over.

Teng Hou Loi

Source: De Tijd

M-Banking: another way of banking

From now on it's possible to use your mobile phone for paying bills, checking your account or even for transferring money to another account, just by having the right software on your cellphone.

We notice that m-banking is not a huge success in USA, because of the fact that it's hard to convince people to download special software on their cellphone or even to switch from online banking to mobile banking. There are also a lot of different viruses that you can get on your cellphone, but the developers of m-banking say that it's safe to use this software, because it's protected by special PIN-code.

This initiative is just a start and the next step would be a possibility to pay in stores by using your cellphone.


Tatyana Skoraya

What if everything gets too cheap?

After a period of non stop price increases, it seems that the era of deflation has arisen. Finally, those prices go down!
This situation is perhaps not that rosy. Because of persistent deflation people postpone their purchases, which ultimately results in a slowing economy. Moreover, our own possessions also continue to slide. Currently, this fear of deflation only takes place in the stock market. However, everyone knows the stock exchange is extremely sensitive to anxiety. If this fright becomes reality, the banks will be overwhelmed with billions of losses, and the world economy will be in a deflationary spiral.

Nathalie Mortier.

Source: click here.

European banks looking for money, money and more money.


To meat the demands of Basel II, the European banks have their work cut out for them.

The European banks will have to collect 78 billion dollars, or 53 billion Euro, within the next six months. From this record amount, approximately fifty percent will be used to repay government support while the other half will be used to reinforce their own core. Compared to the large amount that the French, the Irish and the Germans will have to gather, it seems that our country remains fairly spared from this heavy assignment.

Source: het laatste nieuws online: click here

Carl Van Acker

raise capital to compensate the state support

The bank Société Générale launches a raise capital of € 4.8 billion by releasing listed shares. Shareholders are able to buy 2 new shares in trade for 9 shares they own. The price of the shares are 31% percent less than the sharevalue ate the bell on Monday. Dependent on the yield of the raise capital, the bank will repay the French state for its € 3.4 billion giving to the bank during the economic crisis.

Florine Vanbesien



source: De Standaard

maandag 5 oktober 2009

A decrease of 15,000 civil servants within 10 years


This week is crucial for the federal government, they need to balance the budget before 13 October 2009.

Vincent Van Quickenborne, the Minister of Enterprise and Simplification, doesn't believe in generating new revenues, but he emphasizes saving. He wants to reduce the number of federal civil servants up to 15,000 within 10 years. In order to reach this goal, civil servants will not be replaced when they leave.

Source: "De Tijd"

Klemens Van Cauwenberghe

Withholding tax from 15 to 25 percent?


The government wants to close the deficit in the government budget by raising the withholding tax on the interest of saving certificates, term accounts and saving accounts. The withholding tax will raise from 15 percent to 25 percent. Van Rompuy, the prime minister, wants to gain € 1,1 billion from the new fiscal incomes. Another € 1,1 billion will come from banks and the energy sector. The savings, the third part of the plan, will not have a big impact on social security. Next week, the government will finish the government budget.



(source: Het Nieuwsblad)

Evelien Rooman

Government reforms financial inspection


The Belgian government is working on new, rigid rules to control banks.
These rules have to make sure the government can intervene quickly and efficiently when there are financial problems. In state of emergency, the government will be able to manage the bank in difficulty and, for example, sell certain assets. There shall also be a new watchdog with a lot of authority, which can even stop certain decisions of big banks.

source: De Standaard

Eline Stoop

Renewed Liquidity Rules enforced by British Government


The British government has recently introduced new and far-stretched liquidity rules for the British banks. The recent crisis pointed out that banks with strong liquidity ratings had a much better survival rate.

Through these rules the British government hopes to safeguard the banks themselves aswell as their clients by reducing the likelihood of bank failures. By enforcing these rules the government wishes to set an example for the rest of the world to follow.

Manu Uylenbroeck
Source: The New York Times

Deutsche Bank shows one's hand

In Sint-Denijs-Westrem, Deutsche Bank has opened its first “bankstore”, where the clients can nose about financial information before they go to an office window. The bank created this store because the clients, who search on the Internet, only find limited, superannuated information by which the overview of the possibilities will disappear. In the store, clients find different stocks where they can find significant information about the services offered by Deutsche Bank.Finally, the clients, who are interested in these services of this bank, can contact an employee who will gives more practical and detailed information.


You can find more information about this store here.
Eline Maas

Customers blamed for card fraud


After the theft of a purse or wallet, The Banking Code says a customer is only liable for the first £50, unless the bank can prove the customer acted with fraud. Chip and Pin security expert Stephen Murdoch from the University of Cambridge believes there are a lot of ways fraudsters could recieve Pins, from compromising Pin entry devices in shops to bank staff obtaining customer details. He insists it is not possible for a fraudster to read the Pin on any of their cards. He hopes his words will help every customer who deals with fear for robbers.

Pieter-Jan Smet
Source: "De Tijd"

Online banking: safe or not?


Online banking is growing, but does this mean that online banking becomes more safe?

The fact that online banking is global is as much a risk (a thief in the U.K. can take a crack at bankers in the U.S.) as an advantage. Still there is no need to think that online banking isn't safe if done correctly by the institution and the customer!

Altough security concerns continue to accrue, some people believe that it is possible to argue that online banking is safer than physical banking.


Laurence Stallaert

zondag 4 oktober 2009

How to save money in the long term?


Due to the credit crunch, the classic deposit account is becoming more popular again. Research has confirmed that in terms of benefit the deposit account is not the best way to depose your money on long term. An example of a better way to save money is the deposit account on the internet, and the ‘Tak 21-products’ have the best score. To save money on long term with a good benefit, you better do some research before you decide instead of just starting a deposit account.
Marjon Marchand

Sarkozy determines the agenda of the bankers



As a result of the weak position of the French banks, they have to follow Sarkozy’s orders.

In the past Sarkozy got a lot of criticism due to the huge support of the French government towards the banks. In order to improve his political position, the French President dictates the banks to keep out of the tax paradises and to change their bonus system into a no-claims bonus system. If the banks refuse, they can’t no longer participate in public assignments.

Pieter Parret



WANTED: the terror of the internet

A few weeks ago, a hacker broke into the web sites of ING and Dexia. Luckily the data of clients of the bank have not been stolen, the hacker just wanted to point out that there were several weaknesses on both web sites. The hacker is known as the terror of the whole internet security world and this time the gift shop of ING and the web site with the price list of Dexia were his victims. Nevertheless, he had no bad intentions and the clients of ING and Dexia don’t have to worry about their bank accounts.

Steffi Mignon

Robbed by your bank manager


Since the credit crunch, financial institutions don’t enjoy much confidence anymore. Last week, Nieuwsblad reported a story about a bank manager who gambled 12 million euros -the savings of his clients- in casinos along the Belgian coast. This fraud was discovered by one of the clients who wanted to withdraw the money from his savings account but…the money wasn’t there anymore. If you can’t even trust a ‘safe’ savings account…
Bart Putteman

zaterdag 3 oktober 2009

More stringent rules for buying on the hire-purchase system.

According to http://www.nieuwsblad.be/economie/consument/sparen
more and more people have problems paying back their loan. They get entangled in this situation because of the advertising which only shows the advantages of a loan, in that way they attract people who already are in debt. Therefore the government is starting a campaign that indicates the dangers of loaning money and they will also inaugurate more rigorous rules to protect the consumers. So think twice when you contract a loan, to make sure you don’t get in trouble.

Elaine Praet

Beware of burglars


If your trust in banks is lost and you have chosen to keep your money home, then beware of burglars! Nowadays burglars don’t wait until it’s dark, they search for information about you and your habits and strike when you least expect it. These days burglars don’t really look for very expensive things, they are happy with laptops, mobile phones and so on. A good security system can be very helpful, cause when the burglars can’t get into your house within 4 minutes, they usually give up.
Dorien Loridan

Belgian accounts are relatively cheap



Research from the European Commission shows that the Belgian account is the third most cheapest of the EU, only the Netherlands and Bulgaria are cheaper. But it will not stay this way, the prizes in the EU are grown towards each other so the Belgian prizes will rise. There is also a lack of transparency in the banks, it is not clear what the different tariffs imply and what the prizes are. So the consumer must be carefull because this unclearity can cost you a lot of money.




Click here for more information.




Melissa Slock

Black money returns to Belgium!

Black money on foreign bank accounts turns back to Belgium for fear of new international rules for banking secrecy and tax havens.
This repatriation of money is the biggest since the fiscal amnesty in 2004 which was the start of a permanent procedure for regularization of black revenues.
The large amount of black market money that will be transfered from foreign countries to Belgium, due to the procedure of 2004, is valued at 1,9 million euro this year.
The tax authorities are very delighted with this massive regularization but can't give the precise quantity because of their trade secret.

Ennio Martens

vrijdag 2 oktober 2009

A good future for the European banks


The European banks succeeded the stress test of the CEBS. That means if the economic growth would decrease, the real estate prices would crash and the unemployment rate would jump even then the capital of the 22 most important banks of Europe must be enough. According to ECB-president Jean-Claude Trichet, the results are very positive because the conditions of the test were very high. The main reasons for the good news are the incentives of the governments and the improvement of the expected profits.

For more information you must click here .

Yardena Vaernewijck

Your credit card is worth some money!

Even though the use of a credit card is easy and common nowadays, it can be very expensive too. Most people say they use their credit card for emergencies only, but more and more it becomes a habit, in some cases a high-priced one. People have to pay a lot of interest when they overdraw their account or withdraw money from it, also the purchase of a credit card will cost some money. As you can see it’s important to think carefully before you get a credit card.


Cherline Plovie


For further information just take a look at this article.

Flemish fathers and nuns suffer due to banking crisis

Religious orders lost more than 1.5 million euro owing to Lehman Brothers's bancruptcy. 'Broeders van de liefde' lost 500.000 euro, but fortunately, no development project is cancelled; 'every lost euro is one too much, but it is not a disaster'. The order did not take a major risk by investing in Lehman Brothers, the bank had a reliable reputation, it was a defensive investment.
Working together with Oever, 'Broeders van de liefde' only invest in ethically justified projects, the fathers won't invest in companies who conflict their christian principals in order to make sure they do not finance child labour or arms trade.

Jill Rollier
For more information, click on the photo.

donderdag 1 oktober 2009

Running into debt

If you overdrawed your account during 2008 with more than 1250 euros, you were not alone; an enormous amount of 40% of the cardowners did. This is an increase by 10% compared to 2007. The economic downturn makes people are more and more likely to overdrawl, although the huge interests rates for these debts that even can make things worse. But even this has its advantage; the huge profits on this short term debts are a lucky coincidence for the bank sector in these hard days.

Ward Reynaert
http://www.tijd.be/nieuws/economie-financien/-Meer_Belgen_in_het_rood-.8239583-600.art