There have been some changes, to be sure: more competition in finance, more, thanks to deregulation, in sectors such as retailing and airlines.
The CQC will be in charge of ensuring services meet the required quality standards, while Monitor will be more focused on finance and competition.
Two of the region's mainstays, tourism and offshore finance, face growing competition.
Faced with monstrous dud loans and equally gigantic competition, and urged by the Finance Ministry, lenders in Japan are seeking strength in tie-ups and takeovers.
Increasing availability of finance is creating more competition among lenders, and as a result interest rates have fallen in the past year by about one percentage point in Europe's most popular markets, the U.K. and Germany, Mr. Daubeney said.
With governments eager to grab a piece of the Islamic finance action, we can expect the competition to intensify over the next year.
They face competition from leaner foreign rivals, and several industries, such as finance and telecoms, are less protected than they were.
European stock and derivatives exchanges saw themselves in competition with each other, as did their host cities and countries: finance was deemed a growth industry, and slogans abounded as governments saw a local stock or futures market as a way to create high-paying jobs and ample tax revenues.
Finance Secretary John Swinney said one or two bodies would oversee economic and competition authorities.
Also, the Deville depreciates faster than most of its competition, so if you do get one, either go for a screaming good finance deal, or lease it.
Bahrain is well established in Islamic banking, but it is facing new competition from London, Kuala Lumpur and other hubs that have caught on to Islamic finance.
AirAsia's entry is likely to stir up competition in India's domestic aviation market which is also hit by high operational and finance costs and, lately, a drop in passenger traffic.
Following my Rackspace: Bull and Bear Cases article, I had the opportunity to speak with Bryan McGrath, Director of Finance, at Rackspace to discuss the bear case, capital efficiencies, customer base and competition.
Deregulation would help, by making it easier to sell services (such as residential care) to the elderly, by freeing up finance to allow them to make better use of their savings, and by encouraging more competition in the domestic economy so that it can withstand the inevitable shocks to external trade.
"Overbanking and vicious competition forced many banks to take greater risks to compete in lending, " said the Harvard-educated former deputy finance minister.
Big bang seemed likely to end that, with more competition forcing banks to rid themselves of unprofitable loans and chase more lucrative businesses, such as asset management and retail finance.
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