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Ziraat considering options to return to insurance business

The commission discussed a business partnership between the bank and the French Groupama, which acquired the two Ziraat affiliates -- Başak Insurance and Başak Pension Fund -- in the insurance sector. During the meeting, Republican People's Party (CHP) Amasya deputy Hüseyin Ünsal asked why Ziraat Bank still carried out its insurance transactions using Başak Groupama.

Speaking at the commission meeting, Uludağ noted that there is no other bank in the world that does not administer an insurance company, adding that the board of the bank has been working to found a new insurance company or acquire or partner with an existing one since 2006. Recalling that they have the capacity and potential to found a new insurance company as soon as they are granted permission to do so, Uludağ said the bank is now focused on acquisition of an existing insurance company after the Treasury rejected their proposal to establish a new one. more

Food industry players 'crave' access to loans

Local food industry players at yesterday's Jamaica Observer Food Awards Foodie Seminar say banks still make it too difficult to get a small business off the ground.

Held at the Hilton Kingston Hotel under the theme "Taking it Beyond The Big Food Idea", local restauratuers, chefs and caterers discussed various ideas and issues concerning the food industry.

Gariel Ferguson, co-owner and operator of popular Kingston restaurant Rib Kage Bar and Grill and owner of the new gourmet kitchen accessories and specialty store Kitch 'N' Thyme, told the audience that one of the main issues was acquiring financing from the banks.

"We went with our gut and opened Kitch 'N' Thyme because we believed in it and we knew that this was a business that was missing in Jamaica, but trying to convince the bank, well that was another story," Ferguson said. more

‘Smart casual’ rings death knell for formal business suits in UK

London, May 27: The number of UK employers wanting their staff to be dress in formal attire on a daily basis has significantly decreased in the last four years, according to a survey.

While 37 per cent of the companies were found to require their staff to wear a suit at all times in a survey four years ago, the number has now dropped down to 24 per cent.

The new findings represent a sharp shift in the employers' attitudes.

The survey showed that most of the present-day companies allowed office workers to wear less formal clothes, with a suit required only for meetings.

However, two thirds of the workers who were allowed to dress down at work disagreed with the idea.

"Most employees take their professional image at work very seriously and will dress smartly by choice," the Telegraph quoted Prof Khalid Aziz, the head of training company the Aziz Corporation which carried out the research, as saying. more

PRESS DIGEST - British business - May 27

Channel 4 Radio is in talks with electronics manufacturers to create a branded plug-in DAB device that would enable mobile phone and iPod users to access digital radio. The news comes as the broadcaster prepares to launch digital station E4 Radio later this year. It is keen to develop an E4 or Channel 4-branded device that would cost no more than 20 pounds, sources said. The development comes as DAB radio take-up has been slow, with only 6.5 million digital radio sets in use compared to 100 million analogue sets. DAB suffered a setback in February as a result of the announcement of the planned departure of GCap (GCAP.L: Quote, Profile, Research), Britain's largest commercial radio group, from digital radio. Enders Analysis suggested in a recent report that DAB could become the new Betamax.

GULF BETWEEN U.S. more

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