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VOLVO RUSSIA CFO STRESSES NEED FOR EMPATHY AND FLEXIBILITY TO SUCCEED IN BUSINESS

There are two displays in the Moscow office of the CFO of Volvo Car Russia, Vladimir Lagutin, that catches the attention, immediately: a large elegantly-framed poster of UK electronic music band Depeche Mode and a case of tennis balls.

“Those things – music and tennis – keep me from being stressed,” says Lagutin.…

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TECHNICAL ROUND UP – BRAZIL TOLD TO SCRAP MANUFACTURING TAX BREAKS

*Brazil has been told to reform tax breaks given to Brazil-based manufacturers of automobiles and information technology products. The World Trade Organisation’s (WTO) appellate body has ruled that they break WTO rules on giving special tax favours to domestic producers over importers.…

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IRAN GIRDS ITSELF AGAINST RENEWED USA SANCTIONS, PLOTS EVASION

With the USA re-imposing sanctions on Iran, and international financial institutions wary of dealing with the country, Tehran is dusting off its pre-2015 sanctions-busting playbook. Old networks are being renewed, including with neighbouring countries and China, but there are more obstacles for the Iranian government to contend with this time around.…

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BLOCKCHAIN AND AI OFFER EFFECTIVE AML/CFT SOLUTIONS, BUT TEETHING TROUBLES ABOUND

BLOCKCHAIN technology may be being examined hard by the anti-money laundering/combating the financing of terrorism (AML/CFT) sector, but AML/CFT experts warn against its swift widespread adoption, stressing that while regtech innovation is important, adopters must make sure it does not “compromise the safety and soundness of the financial eco system”.…

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INTERNATIONAL REGULATORY ROUND UP – CHINA KNITTED FABRIC EXPORTS HIT BY AMERICAN DUTIES

CHINESE exports of knitted fabrics have been hit by major USA duties in the latest round of tit-for-tat tariffs imposed in the countries’ ongoing trade war. China exported USD470 million’s worth of knitted and crocheted fabrics to the USA in 2017, according to international trade data.…

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SRI LANKAN KNITWEAR SECTOR CONFIDENT IT WILL RIDE OUT CURRENT POLITICAL CRISIS

SRI LANKA’S knitwear industry is insisting that despite the country’s current political turmoil over who should lead its government, its business is operating smoothly, noting that it had managed to maintain commerce during the country’s 26 years-long civil war that ended in 2009.…

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EU MINISTERS AND MEPs STRIKE AGREEMENT OVER EU CADMIUM CAP FOR FERTILISERS

Representatives of the European Parliament and the European Union (EU) Council of Ministers have struck a provisional deal over legislation insisting that the content of cadmium within phosphate fertilisers sold within the EU should be capped at 60 mg/kg.

Under the agreement, which will need to be confirmed by the full European Parliament and Council of Ministers, the limit would apply three years after the new rules enter into force.…

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MAJOR EUROPEAN DRINKS EXPORTERS WILL SEE GI RIGHTS PRESERVED IN BREXITED UK UNDER NEW WITHDRAWAL DEAL

WINE and other drinks exporters based in the European Union (EU) will be able to rely on their geographical indication protections within the UK even should Britain quit the bloc, as planned on March 29. Indeed, under the draft UK/EU withdrawal agreement released yesterday (Wednesday Nov 14), such protections would continue to be honoured by British regulators even if they are new GIs approved during a proposed transition period, when EU law would continue to apply in Britain, until December 31, 2020.…

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NEW BREXIT WITHDRAWAL DEAL COULD CREATE NON-UK NATIONAL FOOD REGULATOR FOR NORTHERN IRELAND

THE DRAFT UK/European Union withdrawal agreement released yesterday (Wednesday, November 14), could create separate national food regulators for Northern Ireland that are based in a remaining EU member state. A technical annexe to the deal says that “national reference laboratories” with responsibility for advising on a wide range of food legislation in Northern Ireland “shall not be read as including the reference laboratory in the United Kingdom”.…

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RETALIATORY DUTIES ON USA DRINKS EXPORTS CHALLENGED AT WTO

THE WORLD Trade Organisation (WTO) Disputes Settlement Body (DSB) has approved establishing disputes settlement panels ruling on whether retaliatory duties imposed by the European Union (EU), Canada, China, and Mexico on US drinks exports, imposed in response to America’s controversial steel and aluminium tariffs, break WTO rules.…

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