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UK Economic Fortnightly Brief


2nd May 2012  

Summary:

  • A 0.2 per cent contraction in GDP saw the UK economy enter a technical recession in 2012 Q1, defying market analysts’ expectation of modest growth.

  • Public sector net borrowing fell to 8.3 per cent of GDP in 2011-12, in line with the OBR’s forecast and £10.9 billion lower than in 2010-11.

  • The UK’s status as a safe haven helped push sterling close to a two-year high against the euro last week.


 

 

 

Past Event Presentations & Speeches


His Excellency Rob Fenn speech - Lord Justice Laws Event, September 2010

BEDB Generic Powerpoint Presentation - Oil & Gas Trade Mission, November 2010.

More to be added soon!

 

 

 

 

Upcoming BBBF Events


TBC - Tuesday 5th June 2012 - BBBF Committee Meeting

Time: 11:00hrs -12:00hrs

Venue: British High Commission

 

Wednesday 6th June 2012 - BMCC Annual Charity Rugby Dinner

Venue: Shangri-La Hotel, Kuala Lumpur

 

Click for more information:

 

If you would like to join the BBBF, please contact: aprille.solis@fco.gov.uk.

 

 

 

 

 

 

 

 

 

 

 

 
 

Latest News -  10th April 2012

Business and Human Rights

In June 2011 the Human Rights Council endorsed the UN Guiding Principles on Business and Human Rights. This marked the culmination of several years' work by the UNSG Special Representative on Business and Human Rights, Professor John Ruggie, with the UK playing a key role in support. The Principles are also known as the ‘Protect, Respect and Remedy Framework’, for the three pillars they comprise, namely the State duty to protect against human rights abuses by third parties, including business; the corporate responsibility to respect human rights of others; and the need for access by victims to effective remedies, judicial and non-judicial.

Interest in the impact that businesses have on human rights has been around since the mid-1990s and the UK has played a leading role in various international initiatives on steps that companies can take to respect human rights. The UN Guiding Principles mark the highpoint of work on this to date.

To the British companies in Brunei, please be aware that the UK has a pending strategy that will encourage companies both to look at the kinds of human rights harms that could result from their activities, and to mitigate those risks. Companies should consider issues that might be particularly relevant to the local situation (e.g. use of child labour; abuse of migrant labour). If you are looking for guidance pending the UK strategy paper, check out the excellent Danish Institute for Human Rights’ work on human rights impact assessments, at http://www.humanrightsbusiness.org/?f=compliance_assessment


The UK Trade and Investment for Growth White Paper

In February 2011, the Government published the Trade and Investment for Growth White Paper (www.bis.gov.uk/policies/trade-policy-unit). The White Paper set out the Government’s strategy to encourage UK businesses to trade more and to new, high growth markets; to encourage inward investors into the UK; and to strengthen the multilateral trading system, including helping developing countries benefit from trade and investment. One year on, read about their progress here and here.

The British Business Club

With less than 100 Days to Go till the London 2012 Olympic and Paralympic Games, make the most of the opportunities in the UK with th British Business Club! It is an online resource for companies to make the most of business networking activity around the  Games and other major sporting events.

It provides up-to-date details of networking events, business activity, news and potential partners, boosting the opportunities for UK companies to make beneficial international business connections.

In February the club hosted an online partnering service that now enables members across the World to profile themselves and connect with each other online. In the run-up to the Games and beyond, we encourage you to sign up if you think it will be of interest and use – it is not just for those business is connected with sporting events.

Through the partnering service, members will be able to:

  • showcase their business capability, expertise and know-how by creating an online profile,
  • connect with business partners worldwide, and
  • increase their chances of meeting and engaging with potential business partners during the exciting atmosphere of a major sports event.

Whether in the UK or overseas, register now at www.britishbusinessclub.org and start your business networking.

As we move into the final five months before London 2012, the British Business Club can make the most of this once in a lifetime chance to promote companies during the greatest show on earth.


BBBF Looking to Launch New Membership for Bruneian Students

The BBBF is looking to launch a new membership for Associate Members! Stay tuned! Associate Membership is exclusive for students currently studying, or have studied, in the UK that would like to be apart of the Britain Brunei Business world. Cost of membership is only $30 a year! Benefits and more details to come soon!

The BBBF has also launched their official Facebook & Twitter pages. You can now receive updates on upcoming events, coverage of past events, as well as Britain and Brunei business news and information. Find us on Facebook: 'Britain Brunei Business Forum,' and follow us on Twitter: BBBFonline.

 


Latest Events


High Tea for the Lord Mayor of the City of London

Monday, 12th March 2012

Left to Right - Dato Ali Apong, Chairman of BEDB with the Lord Mayor, Pehin Dato Yahya, Rob Fenn, British High Commissioner, Sheik Rashid, BEDB and Vincent Cheong, CEO of BEDB. Back - Stephen Phillips, First Secreatary at the British High Commission with Pei-Si Lai, Chairperson of the BBBF.

The Britain Brunei Business Forum hosted a High Tea, on Monday 12th March, for the Lord Mayor of the City of London during his official visit to Brunei Darussalam.

The Office of Lord Mayor, currently held by Alderman David Wootton, is the senior representative of the UK’s financial, professional and business services industry.  The long-standing partnership between the UK and Brunei in the financial sector has brought previous Lord Mayors to Brunei.

Since Brunei Darussalam and the City of London last met in this format, the world of global finance has undergone upheavals. This visit to Brunei by the Lord Mayor was, therefore, an occasion for both sides to compare notes on recent developments and to benefit from each other’s analysis of the risks and opportunities in the global economy.  It was also an opportunity to strengthen the overall business relationship between the UK and Brunei.

It was a pleasure for the BBBF to host a tea for the Lord Mayor during his visit to Brunei.  In his presentation the Lord Mayor paid particular attention to the role of SMEs in economic development and growth.

The Guest of Honour was Pehin Orang Kaya Seri Utama Dato Seri Setia Awang Hj Yahya bin Begawan Mudim Dato Paduka Hj Bakar, Minister of Industry and Primary Resources.

Among those invited were BBBF members including Standard Chartered Bank, HSBC, G4S, Laksamana College, Adinin Works, Asia Inc Forum, Megamas Training Company, as well as representatives from BEDB, BIA, UBD and many others.

This was a great opportunity for the local business community to discuss issues of global finance with an industry “insider”, in particular how the financial services industry can help SMEs and thus the wider economy.

Lai Pei-Si, Chairman of BBBF said before the event: “On behalf of BBBF, it is our pleasure and an honour for us to have the Lord Mayor with us. We look forward to fruitful discussions and to sharing thoughts, ideas and insights into how we can further help grow and nurture our SMEs. With 90% of businesses being SMEs in Brunei, it is important for us to be able to help facilitate good discussions and come up with some concrete action points towards how we can lend support to them.”

“This was a fitting way for the Lord Mayor to end a visit to Brunei during which he will have learned much about the Brunei government’s economic policies, including its focus on local business development and the creation of good jobs for Brunei’s well-educated workforce. This was a chance to debate those themes from the perspective of the financial services industry – a sector in which Britain and Brunei have achieved a great deal together," said British High Commissioner Rob Fenn.

Pehin Dato Yahya with the Lord Mayor

Dato Ali Apong with Pei-Si and the Lord Mayor.

Lord Mayor delivering his speech.

British MPs Baroness Hooper and Tom Greatrex were also in Brunei, to observe LegCo meetings, and attended the tea.

 


Past Events  
  Feb 2012 BBBF Annual General Meeting 2012
 

Nov 2011

High Tea on Research and SME growth
  Sept 2011 Strategic Planning Talk & 'Energising Business'
 

July 2011

 

BBBF Masterclass on Branded Customer Service

 

Beach Cleaning with British High Comm & the Beach Bunch

 

  May 2011 BBBF High Tea Talk with MIPR on SME Initiatives
  Feb 2011 BBBF Annual General Meeting 2011
  Nov 2010 British Oil & Gas Firms Inward Visit to Brunei & Professor David Hunt Talk
 

Sept 2010

Lord Justice Laws Luncheon & Tea
  Aug 2010 'The Battle of The Empire' - BBBF vs FBBA Bowling Contest
  July 2010 Farewell Party for two BBBF committee members
  June 2010 Lunch & Dialogue with His Excellency Rob Fenn
 

2009

Social Events of 2009


 

 

 

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