Search Results for: International law

BY ALAN OSBORN
1902-1912

British American Tobacco was created on September 29th 1902 as a joint venture between Imperial Tobacco Company of the UK and the American Tobacco Company of the US following a fierce trade war. The parent companies agreed not to trade in each other’s domestic territory and to assign trademarks, export businesses and overseas subsidiaries to the joint venture.…

BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation, of the World Bank, is investing US$10 million in Turkish tiles manufacturer Eczazibasi Karo Seramik A.S (EKS) to help the company overcome working capital shortages, improve production efficiency, and boost exports. The is part of the corporation’s ongoing support for Turkey’s private sector following last year’s financial crises, which restricted the flow of international capital.…

Keith Nuthall
AS the European Union moves towards the mandatory application of International Accounting Standards for listed companies, the European Commission has proposed reforms to the existing directives that harmonise national accounting laws that will remain in place for other businesses.…

BY DEIRDRE MASON
SOME 12 million tonnes of scrap metal – mainly steel – are expected to enter global markets this decade as redundant nuclear power stations are closed down worldwide; in Europe, there is likely to be a surge from 2003 onwards, via a closure programme for obsolete plants in the eastern European countries applying to join the EU.…

BY KEITH NUTHALL
THE EUROPEAN Investment Bank has drawn up plans to lend around Euro 100 million to Turkey’s ministry of national education, to help the country continue improving its primary schools by installing information technology equipment into 6,800 classrooms.

This plan is part of a much larger programme of the ministry to introduce IT classes in Turkey’s compulsory education system, which was extended from five to eight years by the country’s Basic Education Law (1997); the law also aims to boost quality in primary education.…

BY MONICA DOBIE
THE INSURANCE industry is being warned by the International Chamber of Commerce’s Commercial Crime Bureau (CCB) to be suspicious of documents promoting policies using the good name of the ICC.

Fraudsters are mentioning a fake standard called the “Modified Insurance Guarantee ICC 4081,” used in fraudulent documents relating to bank guarantees and letters of credit to add credibility to fictitious policies and high yield investment schemes.…

BY KEITH NUTHALL
THE LEGALITY within the European Union of strict alcohol advertising laws such as France’s Loi Evin is in doubt because of an unlikely case at the European Court of Justice involving Newcastle United Football Club. The team is fighting legal action brought by Bacardi-Martini and Cellier des Dauphins, who claim they lost money when Newcastle programmed its revolving touchline hoardings to display their advertisements for swift 1-2 second intervals.…

BY SWINEETHA DIAS WICKRAMANAYAKA
AN ADDITIONAL injection of IND Rupees 220 million, (US$4.5 million), is to be invested into Cochin International Airport Ltd, in Kerala, India, by five directors of the company, raising their stake to 26 per cent. The move is part of a plan by the company to expand its equity base to INDRupees 2,000 million, (US$40.8 million), from the current IND Rupees 900 million, (US$18.3 million), to liquidate high-cost loans that have been eating into its profits.…

BY KEITH NUTHALL
THE COUNCIL of the International Civil Aviation Organisation has agreed to set up a non-profit service, offering airports, ground handlers and airlines third-party war risk liability insurance cover from US$50 million per insured, should the commercial market continue to withdraw such protection.…

Keith Nuthall
THE EUROPEAN Commission has called on Germany to reform its spirits monopoly law regarding the production of grain brandy, Kornbranntwein. It wants to prevent small agricultural producers being unfairly favoured with state production subsidies denied to producers from other Member States, and, from 2006, to larger German commercial producers.…