News in brief: faux pas, cultures, Malaysia, economy

Cultural differences
Cultural differences

Nearly a third of British business travellers commit social faux pas

There is a lack of understanding when it comes to business etiquette is impacting companies’ reputations worldwide, with 62% of business travellers confirming etiquette errors affect companies’ bottom lines.

The research conducted by surveyed over 4,500 business travellers across eight countries about their attitude towards business etiquette.

The research found that one-third (31%) of British business travellers admit to having committed a cultural faux pas when travelling internationally on business and half (47%) are worried they will unknowingly offend a client or business associate. Almost half (45%) of international business travellers have witnessed a colleague or business associates from other countries make a cultural slip-up – and seasoned business travellers from the UK are more likely to say they’ve witnessed colleagues and associates commit cultural faux pas than admit do doing so themselves.

Malaysian banking governor calls for a responsible economy

Dr Zeti Akhtar Aziz, the governor of Bank Negara Malaysia, has highlighted the need for finance to serve the economy.

Speaking at the inaugural Responsible Finance Summit she said: “As responsible global financial participants, the opportunity to come together again to rebuild trust and provide the foundations of a more stable and sustainable long-term economic growth can be achieved through our commitments to responsible finance. The call is for greater global cooperation and leadership to unlock the future of finance and expand its positive impact in the global economy.”

Dr Zeti Aziz is prominent central bank governor, the first female central bank governor in Asia. During her tenure, Malaysia has also led the region with the growth of Islamic finance, a key sector within the responsible finance industry. Malaysia’s Islamic banks represent 20% of the total banking system and its Islamic investment funds represent 37% of Asia’s responsible investment assets.