Search Results for: Lebanon
223 results out of 223 results found for 'Lebanon'.
FORMER UNDERCOVER DEA INVESTIGATOR SAYS CULTURE SHIFTS ARE NEEDED TO PROMOTE LONG-TERM PROBES ON ML PROS
A former DEA agent who laundered money undercover to attack the Medellín and Cali cartels has called for a root-and-branch reform of AML, so that its vast resources target the most suspicious transactions and the professional launderers who facilitate them. Speaking to MLB, Robert Mazur, who offered ML services to drug kingpins such as Pablo Escobar in the 1980s and 1990s to undermine their criminal networks, said that many laundering techniques used then are still in use today.…
PANDORA PAPERS SHOWS REPUTATIONAL AS WELL AS CRIMINAL RISKS OF USING OFFSHORE FINANCIAL SERVICES
The huge offshore finance leak unveiled last month (October 3) by the International Consortium of Investigative Journalists (ICIJ) has highlighted the risks major companies face when doing business in offshore jurisdictions. Keith Nuthall and Andreia Nogueira report.
Major companies undertaking international business must comply with increasingly tough beneficial ownership transparency laws, and risk reputational damage if they are associated with particularly elaborate devices to avoid tax, even if it is legal.…
BEYOND THE “PHILOSOPHY OF FEAR” OF THE CORONAVIRUS
A friend from Syria once told me of a 20-year-old man, an only child, who left his country, having been ordered to emigrate by his father in fear of the frenzy and killing in his country’s civil war. He moved to the comparative calm of Beirut, Lebanon.…
MASSIVE PANDORA PAPERS LEAK REVEALS HOW BO LAWS ARE IMPACTING FILINGS BY OFFSHORE COMPANIES
The huge offshore finance leak unveiled yesterday (October 3) by the International Consortium of Investigative Journalists (ICIJ) and its media partners has highlighted the pressures AML reporters face in complying with increasingly tough beneficial ownership transparency laws.
Reports generated from 2.94 terabytes of data within 12 million documents leaked to the ICIJ from the confidential records of 14 offshore service providers have been analysed by 600 journalists from 150 media outlets in 117 countries.…
TOWARDS A THIRD PATH... CAN AN ARAB “MARSHALL PLAN” BE ESTABLISHED? -Historical and political epitome-
After the Second World War, Europe emerged economically and socially drained. The war had destroyed so much housing, industry and infrastructure and killed millions of people. Unsurprisingly, the societies of countries who had fought – or been fought over – and that was most of the continent – were brought their knees by the conflict.…
COVID-19 PROMPTS MAJOR RETHINK ON TRAINING, MENTORING AND MOTIVATION IN AML
The Covid-19 pandemic has delivered experience about how an external crisis – in this case health – that forces AML officers to work at home, poses challenges in maintaining professional excellence. According to the Bank for International Settlements’ Financial Stability Institute an estimated 300 million office workers worked from home in May 2020, including 90% of banking and insurance workers.…
GOVERNMENTS TIGHTEN UP TOBACCO AGE LIMIT LAWS, ALTHOUGH IMPLEMENTATION IS OFTEN A PROBLEM
WHILE the imposition of age limits on the consumption of tobacco and other nicotine products remains very much a national, and in some cases sub-national jurisdiction decision, there is no doubt that the general trend worldwide is for tighter restrictions on younger consumers, even if they are often tough to enforce.…
GREEK METAL PACKAGING SECTOR REMAINS MIXTURE OF MAJORS AND SMALL PLAYERS, FIGHTING COVID-19 DISRUPTION
The Greek metal packaging sector is characterised by fragmentation between two multinationals and a larger number of smaller Greek enterprises. This defines a national industry that is primarily inward looking, with few exports. Vasilis Papapanousis, sales director at leading tinplate manufacturer ELSA SILGAN Metal Packaging SA, told CanTech International that exports do not account for more than 5-10% of the total Greek production metal packaging.…
INTERFAITH DIALOGUE: EVERYONE’S HEAVEN OR DOOM
“Yes, to coexistence.” It sounds like a platitude – yet sometimes, it is simply a statement describing a most important principle of real life. This statement is written on the entrance of the Max Rayne Hand in Hand School in Jerusalem, that teaches Jews and Arab students side-by-side.…
WASHINGTON SHOULD WORK WITH ARAB STATES TO SECURE PEACE WITH IRAN - KEEPING CHINA AND RUSSIA AT BAY
President Joe Biden may think he has three main foreign policy priorities this year – China, Russia and Iran – but the truth is, as far as the Middle East is concerned, all these challenges roll into one.
That is because both China and Russia are seeking increased influence in the Middle East, and hoping for potential missteps from the USA over the Iran file to leverage their diplomatic positions.…
ROBOTICS POSE TOUGH CHOICES FOR TEXTILE SECTOR BUT ALSO OFFER MAJOR PRODUCTIVITY DIVIDENDS
INTRODUCTION
ROBOTICS are not new to the textile and clothing sector, and have driven productivity improvements for more than a decade. But these technologies are becoming increasingly more adaptable and more autonomous, offering the many stages in the textile and clothing and distribution chain the potential to increase margin.…
CASH STILL KING FOR MONEY LAUNDERING, DESPITE IN CRYPTO AND ECOMMERCE FIAT TRANSACTIONS
Anti-money laundering specialists may be focusing on how crypto-currencies and online transactions pose an increasing ML/TF risk, especially with Covid-19 encouraging ecommerce, but the reality is that cash remains the money launderers’ best instrument for moving dirty money.
That is the conclusion of Gabriel Hidalgo, a managing director at risk specialists K2 Integrity, in New York: “Cash is king for ML; it continues to be king; and on the majority of levels, illicit actors will continue to use cash,” he said.…
HOW DEEP IS THE LEBANESE FINANCIAL CRISIS NOW?
Brief:
The Lebanese economy has been suffering from a set of complex crises that became acutely evident by the end of 2019. At that time, a dramatic financial system collapse started, affecting various aspects of public life. The damage caused by this crisis is examined by this paper.…
BIDEN NEEDS TO RECOGNIZE SYRIAN GOVERNMENT HAS WON WAR AND START PEACE TALKS
The US new administration of President Joe Biden has a real opportunity to help forge peace in Syria, and if it succeeds, it could reap a series of important foreign policy goals.
This Levant country needs calm and reconstruction. For that to happen, the Biden team needs to recognise that the Baathist regime of President Bashar Hafez al-Assad has won this conflict, and still has rights in areas controlled by Kurds.…
BIDEN NEEDS TO RECOGNIZE SYRIAN GOVERNMENT HAS WON WAR AND START PEACE TALKS
The US new administration of President Joe Biden has a real opportunity to help forge peace in Syria, and if it succeeds, it could reap a series of important foreign policy goals.
This Levant country needs calm and reconstruction. For that to happen, the Biden team needs to recognise that the Baathist regime of President Bashar Hafez al-Assad has won this conflict, and still has rights in areas controlled by Kurds.…
BIDEN ADMINISTRATION NEEDS STEELY DETERMINATION TO MAKE IRAQ SUCCEED
Now Joe Biden has acceded to power in Washington, it is important that his administration gives special attention to Iraq, not the least because many Iraqis blame him for some dismal failures in past America policy. Under former President Barack Obama’s term of office, it was then Vice President Joe Biden who was largely responsible for the policy fudge which saw ISIS take over 40% of the country.…
BIDEN ADMINISTRATION NEEDS STEELY DETERMINATION TO MAKE IRAQ SUCCEED
Now Joe Biden has acceded to power in Washington, it is important that his administration gives special attention to Iraq, not the least because many Iraqis blame him for some dismal failures in past America policy. Under former President Barack Obama’s term of office, it was then Vice President Joe Biden who was largely responsible for the policy fudge which saw ISIS take over 40% of the country.…
RESPECTING THE SANCTITY OF JERUSALEM’S RELIGIONS CAN DELIVER PEACE, DESOPITE CITY’S BLOODY HISTORY
THE ACCESSION to power of President Joe Biden has sparked speculation that the recent shift in USA policy towards Israel and the Palestinian Territories pushed by his predecessor Donald Trump may be over.
Regardless of the justified criticism of Trump’s ethics and unpredictable governing style, the fact remains that his administration moved the needle in the Middle East.…
ARAB ART CAN INSPIRE MILLIONS – GOVERNMENTS NEED TO MAKE IT HAPPEN
IT is not easy to make a living as a fine artist. So many talented painters, sculptors, illustrators and engravers pay their bills through teaching, and indulge their creativity as a sideline. Others move into commercial graphic design where their scope is confined by the demands of selling products, contrasting with the unbound freedom of imagination enjoyed by the independent artist.…
EDIT OF OP-ED PIECE ON SYRIAN DIPLOMATIC STRATEGY
ARAB COUNTRIES MUST JOIN WEST IN DIPLOMATIC ENGAGEMENT WITH SYRIA TO FORGE NEW PEACE
After a 10-year-old civil war in which an estimated 400,000 people have died, calls for restoring diplomatic relations with the ruthless government of Bashar al-Assad, now controlling around 75% of the country, sound like bitter medicine.…
TURKISH DENIM MAJOR MAVI JEANS KEEPS GROWING WORLDWIDE, DESPITE COVID-19
Mavi, the Turkish denim giant, sold 9.7 million pairs of jeans worldwide in 2019, and, its chief executive has told just-style, has rebounded from the shuttering of the garment sector earlier this year with e-commerce sales doubling in its major markets.…
SYRIAN TOBACCO SECTOR HIT HARD BY CIVIL WAR, BUT STILL SURVIVES, WITH LEAF PRODUCTION POTENTIALLY EXPANDING
The Syrian tobacco sector has been hard hit by the civil war and associated social conflicts, now stretching into their tenth year. Tobacco leaf volumes and planted areas have dropped by around a third since the start of these troubles, factories have been destroyed, and sanctions have forced international brands from formal trading channels in Syria.…
SANCTIONS REGIMES TIGHTEN ON SYRIA AS BLOODY CIVIL WAR CONTINUES
As Syria enters its 10th year of civil conflict, the economy is in tatters, foreign currency is in short supply, and sanctions have not only been renewed, the USA has introduced new secondary sanctions. Illicit crime and sanctions busting abounds.
In May (2020), the USA issued further guidance on Syria, while the European Union (EU) extended its sanctions on Syria for a further year, to 1 June 2021.…
WHISTLEBLOWING RULES IN MIDDLE EAST AND AFRICA EMERGE, BUT ARE INCONSISTENT
Only a handful of countries in the Middle East and Africa have dedicated whistleblowing laws – South Africa, Mozambique, Zambia, Uganda, Ghana, Liberia, Algeria, Morocco, and the Israel-occupied Palestinian territories, according to Blueprint for Free Speech, a charity promoting freedom of expression (https://www.blueprintforfreespeech.net/).…
TOP 10 MONEY LAUNDERING CASES
- 1MDB SCANDAL IN MALAYSIA SEES USD BILLIONS STOLEN AND HIDDEN
Malaysia 1MDB scandal is one of the largest money laundering cases ever, worldwide, with Malaysian courts considering charges over how at least USD4.5 billion was stolen and then spent or laundered from Malaysian sovereign wealth fund 1Malaysia Development Berhad by former Prime Minister Najib Razak and his associates.…
LEBANON’S POLTICAL UNREST HAS BEEN PROMOTING MAJOR MONEY LAUNDERING
The large-scale civil protests that erupted across Lebanon in October 2019, and which continue today, have promoted large scale money laundering thought concerted and often successful attempts to avoid capital controls imposed by Lebanese banks to head off failure. Billions of dollars have flown out of the country, the Banque du Liban, the central bank, has warned, while Lebanese consumers have frantically withdrawn deposits as the Lebanese Pound LBP) has devalued against the US dollar – in October it was officially pegged to the US dollar at LBP1,507 and began to trade above that rate after the protests began, reaching LBP2,700 to the USD in March 2020.…
GULF REGION BEAUTY CONSUMERS ON THE LOOKOUT FOR AFFORDABLE LUXURY WHILE LEVANT MARKETS STRUGGLE
In a market long dominated by well-established players, the success of ‘masstige’ beauty brands, which combine elements of mass and luxury products, is creating fierce competition in the Gulf Cooperation Council (GCC) region. Consumers in the United Arab Emirates (UAE), Saudi Arabia, Qatar, Kuwait, Bahrain and Oman looking for skincare and cosmetics are increasingly shopping from South Korean brands such as Etude House, which opened a branch in Dubai Mall in 2018 and is known for its quirky kitsch products, and The Face Shop, which arrived in Dubai in 2008 and recently renovated its four concept stores in the city.…
CAR SALES PLUNGE IN LEBANON AMIDST FINANCIAL AND ECONOMIC CHAOS
Sales of new cars in Lebanon have plunged 74% in the last two months of 2019 (compared to November and December 2018) as the country has faced financial and political chaos following the eruption of mass demonstrations in October. these prompted the resignation of the government – and while a new administration under Prime Minister Hassan Diab Took office on January 22, business transactions continue to be hampered by restricted access to US dollars.…
MIDDLE EAST PAINT MARKET SUFFERS AS GULF ECONOMIC WEAKNESS AND LEVANT CONFLICT RESTRICTS SALES
Time was that the Gulf was a hotspot for paint and coatings sales and production, with frothy demand fuelled by major building projects – most met by locally manufactured product. But today, demand for paint in the Gulf countries is sluggish due to low oil prices, depressing overall economies and a drop in the number of infrastructure and real estate projects under construction.…
EUROPE STILL HAS SIGNIFICANT WORK TO COMPLETE BEFORE HARMONISING ITS NATIONAL GRID
MARCH’S approval by the European Parliament of new European Union (EU) electricity market rules, designed to increase consumer choice, boost renewables access and cap power subsidies, were hailed by the European Commission as a new dawn for the creation of the EU’s much vaunted Energy Union.…
MONEY SERVICE BUSINESSES IN EMERGING MARKETS FACE TOUGHER COMPLIANCE AND DERISKING DEMANDS
MONEY service businesses (MSBs) are having a tougher time operating in compliance with international AMF/CFT rules, especially those in emerging market countries, where they have to deal with a double challenge of tighter controls and derisking by banking partners.
MSBs throughout the Middle East, for instance, have been hit by derisking from correspondent banks as well as designations by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC).…
TRADE-BASED MONEY LAUNDERING TO RISE AS IRAN SEEKS TO EVADE NEW USA SANCTIONS
TRADE-based money laundering (TBML) continues to be a complex typology that is tough for law enforcement to detect and ML regulators to control.
The risk is that with Iran being subject to new USA sanctions, the use of TBML is going to grow in the short term, warn experts.…
UAE’s OPEN ECONOMY AND COMPLEX POLITICS MEANS AML REGULATION IS MORE DECENTRALISED THAN IN CENTRALISED SAUDI KINGDOM NEXT DOOR
The Kingdom of Saudi Arabia and the United Arab Emirates (UAE) are political and economic heavy-weights in the Middle East, but while they have much in common, their anti-money laundering/combating the financing of terrorism (AML/CFT) regimes and the risks they face significantly differ, primarily due to the UAE’s greater exposure to the international financial system.…
SOARING COSTS IN JORDAN’S GARMENT SECTOR COULD DETER INVESTORS
JORDAN garment exporters maybe growing their export sales, but high costs and declining local purchases could weaken their ability to take advantage of robust growth in overseas demand, industry experts have told just-style.
Jordan’s garments exports are expected to have generated receipts of USD1.8 billion in 2018, and their value is expected to grow by at least 8% in 2019, a source at the Jordan Enterprise Development Corporation told the Jordan Times newspaper this week.…
MIDDLE EAST PAINT MARKET MIXED BAG – AS ECONOMIC DIVERSIFICATION PROJECTS BOOST SALES WITHIN WEAK MARKETS
Paint markets throughout much of the Middle East are experiencing a downturn due to the region’s political instability and economic slowdown. However, manufacturers are nonetheless betting on a rebound as larger projects re-start and reconstruction begins in certain markets.
In the oil-based economies of the United Arab Emirates (UAE) and Saudi Arabia, lower oil prices have hit government budgets, causing state-backed projects to be suspended or delayed, while having a knock-on effect on the wider economy.…
CHARITIES STILL STRUGGLE TO AVOID BEING TAINTED WITH TERRORIST FINANCING
Charities continue to be at risk of being exploited by terrorist groups looking to transfer money and finance their operations, with the Middle East a high-risk area.
These non-governmental organisations (NGOs) are, however, criticising the extra scrutiny the sector is facing from regulators, banks and governments, saying it is driving charity financing into the shadows, actually increasing risks of financing by crime and terror groups.…
UNINETTUNO – ITALY’S TOP ONLINE UNIVERSITY HARNESSING 3D TECH TO ENHANCE LEARNING
With traditional universities increasingly using web-based learning as a way of recruiting students world-wide, University World News spoke to the head of Italy’s top online university to see how it has developed a successful model for international higher learning
Enrollments for the 2018-2019 school year at the Rome-based International Telematic University, Uninettuno, have exceeded expectations, university rector Maria Amata Garito, shared with UWN: “I can confirm that enrolments have jumped quite a bit this year – up by circa 200% compared to last year,” said Garito.…
EU ROUND UP – EU FRAUD MAYBE DECLINING, BUT MILLIONS OF EUROS LOST TO SCAMS EVERY YEAR
THE CONTINUED vulnerability of European Union (EU) revenue collection and spending to fraud has been brought into sharp relief by a new European Commission statistical analysis on financial crime.
That said, a working paper noted that in terms of revenue through external import duties (called ‘own resources’ in EU jargon) detected fraud cases involving EUR10,000 or more alone in 2017 indicates losses have been falling – but still to EUR76 million.…
LEBANON TO BAN TURKISH TEXTILES
THE LEBANESE government has moved to ban the sale of certain Turkish products, including textile imports worth USD123.3 million a year, to protect local production.
However, Lebanon’s textile manufacturing sector is small, raising questions as to why Turkish textile imports should be banned.…
PASSENGER EXPERIENCE COMES TO THE FOREFRONT AT DUBAI AIRPORT SHOW
Enhancing the quality of passenger experience while maintaining maximum security was a recurring theme during the Dubai Airport Show 2018. The annual airport industry event, held from May 7 to 9, drew more than 7,500 visitors.
Covering 15,000 square metres of space across three halls of the iconic Dubai International Convention and Exhibition Centre, its 18th edition hosted more than 350 exhibitors from 60 countries.…
KEY NORTH AFRICA PAINT MARKETS STABILISE AFTER YEARS OF INSTABILITY
NORTH Africa is never an easy market in which to do business, and the Arab Spring and its turbulent aftermath has not helped ease trade, but as the paint industry looks to 2018, there is optimism that profits can be made.…
NEW TAX A DAMPENER ON MIDDLE EAST PERSONAL CARE PRODUCT SALES
CONSUMERS do not like sales tax, and they are particularly sensitive to tax-based price increases when new taxes are introduced. So, it is maybe no surprise that personal care product sales in the Middle East have been dampened by the introduction of value added tax (VAT) in both Saudi Arabia and the United Arab Emirates (UAE) in January 2018, inflating beauty product prices.…
NGOs WORKING IN SYRIA RISK SERIOUS BREACHES OF SANCTIONS AND AML/CFT RULES
NON-governmental organisations (NGO), aid agencies and charities are under increased pressure to abide by international and domestic anti-money laundering and terrorist finance regulations, such as those imposed by the UK, US and European Union (EU), including international sanctions. But it can be tough for NGOs to comply with such rules when operating in countries where there is civil conflict or civil war.…
SMALL AND HOPING TO BE BEAUTIFULLY FORMED – QATAR’S LOCAL POPULATION FEEDS DOMESTIC COSMETIC SURGERY MARKET
QATAR is a small country, roughly half the size of Wales and with a population of 2.5 million. But what it lacks in demography and geography, it makes up for in spending power – and its significant cosmetic surgery industry is a key beneficiary.…
CONFLICT AND CONSTRAINT HIT LEBANESE HAIR CARE MARKET
THE LEBANESE haircare market has been in a state of flux over the past six years, reflecting the instability in the Levant. Following the start of the Syrian conflict in 2011, the country’s haircare market grew as Lebanon took in more than 1 million Syrian refugees.…
THE CHALLENGES OF AUDITING NGOs OPERATING IN CONFLICT ZONES
NON-GOVERNMENTAL Organisations (NGOs), international aid agencies and charities are under increased pressure to abide by international and domestic regulations that ensure their financial probity and avoidance of corruption. But while there is often effective oversight in their home countries, when in the field, especially in conflict zones, NGOs can struggle to navigate local rules and adapt to difficult circumstances to ensure appropriate auditing is in place.…
CONFLICT SENDS SYRIAN CAR MARKET SPIRALLING DOWNWARDS BUT NEW CHINESE MODELS HINT AT RECOVERY
THE SYRIAN car sector has been hit hard by the country’s ongoing civil conflict, now into its sixth year. From nearly 90,000 cars being imported into Syria annually before the rebellion against the rule of President Bashar al-Assad started in 2011, imports have now plunged to around 1,000 cars a year.…
LEBANON AIRPORT SECURITY EQUIPMENT DONATED BY USA
THE USA Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) has provided USD650,000’s worth of security screening equipment for Rafiq Hariri International Airport, Beirut, Lebanon. This included one mobile x-ray screener for vehicles; six hand-held explosive trace detection (ETD) systems; six liquid aerosol and gel scanners; and six shoe scanners.…
JORDAN BESET BY PROBLEMS MAKING IT LESS FINANCIALLY CLEAN THAN PREVIOUSLY PERCEIVED
WHILE Jordan usually has a reputation for reliability, security and stability, the truth is that the Hashemite Kingdom is behind the compliance curve as regards anti-money laundering (AML) and combating the financing of terrorism (CFT) compared to many of its Middle Eastern peers.…
CORRESPONDENT BANK DERISKING IN THE MENA HEIGHTENS RISK OF FINANCIAL CRIME
DE-RISKING by US and European banks worried about falling foul of anti-money laundering (AML) laws has caused more than 80 Arab banks in the Middle East and North Africa to have lost their correspondent banking relationships over the past four years.…
MIDDLE EAST AND AFRICA FRAGRANCE MARKETS
IT has been a tough year for the fragrance industry in the United Arab Emirates (UAE), where competition between international and local brands has intensified, while consumer spending has been weakening. But this has not stopped perfumiers from launching new products nor has it prevented overseas suppliers from expanding their local presence.…
EXPERTS URGE MORE GULF STATE ACTION TO CURB TERRORIST FINANCING
Terrorist financing is continuing in the Middle East, highlighted by the devastating attack in Istanbul over the new year. Radical Islamic groups still operate in Iraq and Syria, notably the Islamic State and the Levant, or ISIL (also known as ISIS), and the source of funding for these terrorist groups is a contentious issue.…
SYRIA SANCTIONS KEEP GROWING IN INTENSITY AND SCALE, BUT ASSAD CLINGS TO POWER NONETHELESS
The Syria conflict is into its sixth year, as are the multilateral sanctions imposed on the government in Damascus. How effective have the sanctions been, given the Syrian regime’s survival? And where may have funds from members of the regime, and those linked to it, gone?…
EXPERTS URGE MORE GULF STATE ACTION TO CURB TERRORIST FINANCING
Arab Gulf governments are repeatedly accused of aiding terrorist financing on and, more often, off the record. Calls to get tough on these states have been sidelined by political and economic expediency, while Gulf moves to curb terrorist financing have been lacklustre and there may be risks ahead, reports Paul Cochrane, in Beirut.…
DEBATE SHOWS HOW UNIVERSITIES CAN ENCOURAGE WOMEN LEADERS THROUGH PERSONAL DEVELOPMENT AND INSTITUTIONAL ASSISTANCE
A public forum on how universities help promote transformative leadership by women has highlighted the difficulty of framing policies that simultaneously encourage personal development and directly assist women in securing equal opportunities. This discussion comes at a time when women outnumber men in university enrolment globally, but continue to trail men in leadership positions in government, research, and the formal economy.…
TUNISIA’S NEW GOVERNMENT PROMISES CLEAN INVESTMENT DRIVE, BUT AML/CFT CONCERNS PERSIST
Tunisia’s financial and political situation is shaky by any measure but the installation of a new national unity government under Prime Minister Youssef Chahed in August does offer some grains of comfort for anti-money laundering (AML) professionals. Chahed, a university professor and agricultural science expert, told the Tunisian parliament this summer that his priorities were defeating terrorism, stimulating economic growth and fighting corruption as well as strengthening the country’s democratic system.…
PRESSURES BUILDING UP ON THE PHILIPPINES OVER HANDS-OFF APPROACH TO CASINO MONEY LAUNDERING
The Philippines has been standing accused of passively aiding money launderers and terrorist financers ever since its Anti-Money Laundering Act in 2001 exempted local casinos from the duty of submitting suspicious transaction reports on their operations.. But pressures to revise that decision have been growing markedly since earlier this year Chinese cyber hackers managed to launder USD81 million through banks and casinos in Manila, with only approximately USD6 million of the booty recovered so far.…
TOBACCO MARKETS IMPACTED BY SYRIAN REFUGEE CRISIS
WITH 4.8 million Syrian refugees registered by the UN, and many more displaced without registration, their impact on consumer markets outside their home country has been significant. The tobacco sector has been no exception. Indeed, even before the civil war, Syrians were keen smokers – with 2004 Syrian Centre for Tobacco Studies research indicating that 56.9% of men smoked cigarettes and 17% of women; 20.2% of men smoked waterpipes (shisha) and 4.8% of women; 29% smoked daily – 51.4% of men and 11.5% of women).…
RAMADAN SPARKS INCREASE IN LEBANON MEAT SALES
MEAT suppliers in Lebanon are anticipating significantly increased sales as Ramadan winds up this week. Hovig Kozobiokian, managing partner of Dekerco, a meat and food importer in Beirut. He estimated demand increases by around 50% to 60% for round cuts during Ramadan, with often a spike in demand in the last week for the Eid El-Fitr festival that ends this holy month.…
BY LEE AUSTRALIA PLOTS TIGHTER RULES ON MONEY LAUNDERING AND TERROR FINANCE
A SWEEPING review of Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act 2006, published in April 2016, has made more than 80 recommendations to tighten and extend the scope of this key piece of legislation. Among these are proposals to streamline due diligence obligations on the part of reporting entities while reinforcing auditing procedures, increasing the scope of the legislation to cover more professional categories and types of transactions and increasing surveillance particularly in the remittance sector.…
USTR REPORT COMPLAINS OF INTELLECTUAL PROPERTY INFRINGEMENTS IN PHARMA SECTOR
THE UNITED States Trade Representative (USTR) has highlighted its continuing concern about intellectual property rights violations in the pharma sector, citing claims that 20% of medicines sold in India are fakes.
In its annual ‘Special 301 Report’, the USTR said it notes “its particular concern with the proliferation of counterfeit pharmaceuticals that are manufactured, sold, and distributed in trading partners such as Brazil, China, Guatemala, India, Indonesia, Lebanon, Peru, and Russia.”…
PAKISTAN STILL FACES MAJOR STRUGGLE TO CONTAIN MONEY LAUNDERING AND TERROR FINANCE, DESPITE REFORMS
Pakistan remains a source of concern to global anti-money laundering (ML) authorities even though the Financial Action Task Force (FATF), the world’s leading AML organisation, removed the country from its monitoring process last February (2015). Then, FATF cited Pakistan as having made “significant progress” in improving its AML and CFT (combating the financing of terrorism) regime.…
TI REPORT SHOWS CORRUPTION RIFE IN MIDDLE EAST AND NORTH AFRICA
A NEW survey has concluded at least 50 million people paid bribes just to access basic public services in the Middle East and North Africa (MENA) in a 12 month period. Transparency International estimates are based on its September 2014 to
November 2015 survey of nearly 11,000 adults in nine countries and territories across the region: Algeria, Egypt, Jordan, Lebanon, Morocco, the Palestinian territories, Sudan, Tunisia and Yemen.…
INTERNATIONAL AML/CFT CONTROLS TIGHTEN AGAINST HIZBULLAH
AT a time when the world is regularly sickened by the web-cast beheadings and civilian bombings by Islamic State (IS), it is perhaps hard to recall when Lebanon Shia militant Hizbullah group was regarded as maybe the world’s most notorious international terror group.…
PERSONAL CARE PRODUCT SECTOR STRUGGLES TO MAINTAIN SALES IN UNSTABLE MIDDLE EAST AND NORTH AFRICA
Five years since the start of the Arab uprisings in 2011, instability is still impacting cosmetics sales in the Levant and north Africa. Last year saw a slight improvement on overall sales in 2014, the year the Islamic State spread through northern Iraq and Syria, but figures are down on 2013, and the growth projected in 2010, according to figures from market researcher Euromonitor International and estimates from cosmetics companies.…
JORDAN AND LEBANON CONFECTIONERY MARKETS SHAKEN UP BY SYRIAN CONFLICT
THE JORDANIAN and Lebanese confectionery markets are both in a state of flux due to the conflict in neighbouring Syria, now into its fifth year. Local production has faced major competition from Syrian entrants fleeing the chaos of their home country, particularly in Jordan; while in Lebanon imports of parallel goods have soared over the past few years.…
MIDDLE EAST COACHING GROWS IN SCALE AND QUALITY – WITH UAE BEING KEY BASE
The professional coaching sector is booming in the Middle East. Over the past decade the region has become increasingly interconnected in the global business system, and accordingly adopted international standards. This has driven the need for professional coaching and training. But with coaching modelled on US and European norms, there is a need for greater localisation, while more coaching accreditation is needed to develop further confidence in the fledgling sector.…
JORDAN PHARMA SECTOR PUNCHES ABOVE ITS WEIGHT
Jordan maybe a small country – with a population of just 6.6 million people, but it is one of the largest pharmaceutical manufacturers in the Middle East. A key reason is that production is export focused, particularly of generics. The country’s USD500 million-a-year turnover manufacturing sector had been steadily growing at 8% to 10% per year until 2012, according to the Jordanian Association of Pharmaceutical Manufacturers and Medical Appliances (JAPM).…
REFUGEE INFLUX IS PROMOTING COMMERCIAL CRIME IN LEBANON AND JORDAN
The conflict in Syria has seriously impacted trade and business in the Levant. The millions of Syrian refugees that have fled to neighbouring Lebanon and Jordan are putting economies under serious strain, causing the authorities to turn a blind eye to illicit trade and unregulated business.…
SYRIAN REFUGEES CARE OFFERS VOLUNTARY AND PAID WORK FOR NURSES
With the conflict in Syria entering its fifth year, there are 7.6 million Syrians internally displaced, and 3.8 million refugees, according to the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) – their health needs require specialist nursing skills.…
PARAGUAY ADVANCES AML REGULATIONS, BUT FALLS SHORT IN CONVICTIONS AND SEIZURES OF FUNDS
Despite Paraguay’s past difficulties in effectively fighting money laundering, the country has been introducing new regulations to boost its controls; however their reforms’ implementation have been hampered by lack of political will.
Located between Argentina and Brazil, Paraguay is a key country in the struggle against money laundering and financing of terrorism in South America because its porous border is used by drug cartels to smuggle drugs, among other illicit items, into the two region’s biggest markets for cocaine and marijuana.…
SLUGGISH BOOKS SALES AMID MIDDLE EAST TURMOIL
When one authoritarian government after another fell following mass uprisings in the Middle East in 2011, there was optimism that this would usher in an era of greater publishing freedoms. But as the ‘Arab Spring’ enters its fifth year, with conflict in Syria, Iraq, Yemen and Libya, book sales have dropped and censorship has rebounded.…
CIWF WANTS TOUGHER ANIMAL TRANSPORT RULES AND BETTER IMPLEMENTATION OF EXISTING LAWS
ANIMAL welfare group Compassion in World Farming (CWF) has told globalmeatnews.com that European Union (EU) livestock transport rules are being broken within the EU and also when animals are exported outside the bloc.
Olga Kikou, the organisation’s European affairs manager, is concerned that while the EU’s regulation EC 1/2005 on the protection of animals during transport insists that livestock receive rest, feeing and watering, it does not cap total journey durations.…
INTERNATIONAL COOPERATION AGAINST SMUGGLERS WORKS – SAY OFFICIALS AND INDUSTRY
EUROPEAN cigarette smuggling has evolved and diversified over the past ten years, and international cooperation is often the best way to counter them, argue European Union (EU) anti-fraud officials. Meanwhile, the tobacco industry has accepted that liaising with these initiatives does bring benefits.…
DIVERSE GULF REGION SEES RISE IN MARKET FOR HIGHER END OILS AND FATS
In the Gulf, the harsh desert climate has always made agricultural production difficult, so fats in the form of animal lard or milk ‘ghee’, have traditionally dominated diets.
But population growth in the Gulf Cooperation Council (GCC) countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates – UAE), rising affluence, booming ex-patriot populations, and increasing diversity in imports, have driven increases in sales of higher end edible oils in the region.…
SYRIAN AIRPORTS STILL OPERATIONAL WHERE GOVERNMENT FORCES HAVE CONTROL
With the conflict in Syria entering its fifth year, air traffic has dropped significantly, with the national airline carrying less than a third the number of passengers as in 2010. Only three out of the country’s five international airports are operational.…
COSMETICS INDUSTRY IN THE GULF REGION BOOMING DESPITE POLITICAL STRIFE
TOILETRIES sales in the Arab Gulf countries remain robust, an oasis of economic and political stability in a turbulent Middle East. Elsewhere in the region, the ongoing conflicts in Syria and Iraq, and the rise of the Islamic State, has seen toiletries sales plummet.…
EGYPT COSMETICS MARKET STILL STRUGGLING AFTER 2011 REVOLUTION – BUT HAS POTENTIAL
EGYPT’S USD1 billion cosmetics and perfume market – regulated and unregulated – has still to recover from the country’s 2011 revolution. Ongoing instability and weak economic growth has stymied a hoped-for robust rebound in sales. That said, demand is starting to pick up and the country’s large population of 85.5 million is making significant purchases of mass market toiletries.…
ISLAMIC STATE FINANCING ITSELF THROUGH COVERT INTERNATIONAL TRADES
The Islamic State (IS) is increasingly acting like an established state, needing access beyond its territory to acquire spare parts, machinery and goods to keep the economy of its territories going. With regulatory enforcement more focused on funds going in to the Islamic State than out, this trade is being exploited, particularly via Turkey.…
DOUBLE-EDGED SWORD OF GROWTH AND INSTABILITY IN MIDDLE EAST AND NORTH AFRICA NONWOVENS SECTOR
The Middle East and North African nonwovens sector is in flux. At the same time as extra capacity has come online, regional demand has been affected by political instability, forcing manufacturers to focus on exports and diversify their offerings.
“It is showing clearly now that the Arab Spring and political consequences have definitely delayed investment decisions by potential customers.…
AID AGENCIES NOT TENDERING LOCALLY FOR PHARMACEUTICALS TO SERVE SYRIAN REFUGEE INFLUX
With the conflict in Syria into its fourth year, the pharmaceutical and health care sectors in the country have been decimated, while an estimated 9 million people have been displaced. More than 3 million refugees have fled Syria to neighbouring Turkey, Lebanon, Jordan and Iraq, according to the United Nations High Commissioner for Refugees (UNHCR) office.…
SYRIAN REFUGEES IMPACT LEVANTINE TOBACCO SECTOR
THE TOBACCO sector and trade in the countries neighbouring Syria have been impacted by the flight of more than 3 million (some reports say 5 million) from its civil war. Due to the Syrian conflict, smuggling has increased to supply the Syrian market (still at least 17 million people), while the lack of governmental controls has promoted illicit sales in Turkey, Jordan, Iraq and Lebanon, while the influx of refugees has led to growth in lower priced legitimate cigarettes.…
SYRIAN LIVESTOCK SECTOR FEELING THE EFFECTS OF CONFLICT
The livestock sector in Syria has been seriously impacted by the country’s ongoing civil war, with poultry production down by over half compared to pre-conflict levels, cattle herds by 40%, and the number of sheep down by 30%. Meanwhile, veterinary services have almost collapsed.…
SYRIAN CIVIL WAR DISRUPTS TOBACCO MARKETS AND INDUSTRY IN SYRIA AND NEIGHBOURING LEBANON
SYRIA’S civil war has led to a major reduction in tobacco production in the country and a rise in smuggling of tobacco products, but at the same time the national tobacco company’s profits have surged due to the lack of competition from foreign brands.…
SYRIAN CONFLICT AND REFUGEES IMPACT COSMETICS SECTOR
THE CONFLICT in Syria, which has entered its fourth year, has had a major impact on the cosmetic market and industry, both in the troubled country itself and the neighbouring region. Exports to Syria, and distribution of cosmetics, has been severely hampered by the civil war, while the conflict’s spillover is impacting other countries, compounded by the 2.9 million Syrian refugees currently registered in Lebanon, Jordan, Turkey and Iraq.…
MIDDLE EAST PERSONAL CARE PRODUCT SECTOR PUSHES AHEAD, DESPITE INSTABILITY
THE MIDDLE East cosmetics market is weathering the region’s current political and economic instability in the region. While the markets in the Levant are experiencing tough times, Gulf sales continue to grow. Retailers and manufacturers are also offsetting the losses incurred in depressed and unstable countries by exporting to burgeoning African markets.…
FATCA COMPLIANCE IS BIG QUESTION AS LAW FINALLY COMES INTO FORCE
THE UNITED States’ Foreign Account Tax Compliance Act (FATCA) is to go into force on July 1. Aimed at curbing tax evasion by US citizens around the world, foreign financial institutions (FFIs) are required to report on US account holders, but over 200,000 FFIs and 123 countries have not yet signed up.…
REFUGEE MOVEMENTS CREATE NEW KNITWEAR MARKETS – BUT THEY ARE HARD TO TAP
MOVEMENTS of refugees can involve millions of people – all of whom are potential consumers – but tapping their purchasing power can be difficult for knitwear companies, even though their products are clearly useful for displaced people in poor accommodation.
The conflict in Syria has forced 2.5 million refugees to flee to the neighbouring countries of Lebanon, Jordan and Turkey.…
TURKEY AIMS TO GROW OILS AND FATS SECTOR, WITH SPECIAL FOCUS ON OLIVE OIL
TURKEY is the Middle East’s largest oilseed producer, but domestic demand outstrips supply despite efforts to boost production. In olive oil, Turkey is increasing production and exports, being the fifth largest producer globally, with the sector valued at USD500 million, according to Tariş Zeytin ve Zeytinyağı – the union of olive and olive oil co-operatives.…
MENA REGION STILL STRUGGLES WITH IP PROTECTION BUT REFORMS ARE BEING DEVELOPED
The Middle East and North Africa (MENA) region ranks poorly in intellectual property rights protection and enforcement. While some countries, notably in the Gulf, are gradually improving, political and economic uncertainty in the wake of the Arab Spring uprisings is hampering progress in much of the rest of the region.…
EUROPE’S MEAT PRODUCTION AND DEMAND SHOULD RECOVER FROM PAST DECLINE IN 2014, SAYS BRUSSELS REPORT
EUROPEAN Union (EU) meat demand and production are expected to recover this year, after two years of decline in EU pork and beef supplies, the European Commission predicted yesterday (March 5). In its Winter 2014 Short-Term Agricultural Outlook, the Commission said: “Meat consumption is expected to increase in the short run, thanks to improvements in the economy and of meat availability.”…
SYRIA'S ENERGY SECTOR STRUGGLES AS CIVIL WAR STAGNATES OIL PRODUCTION
AS peace-talks finally got underway in Geneva, aimed at ending Syria’s bloody civil war, one economically devastating consequence is all too clear: Syria’s energy sector has come to a near standstill. The government has lost control of key oil producing areas to the rebels, international oil companies have left the country, and the regime has had to resort to round-about methods to secure energy imports to offset production losses.…
Lebanon's car sector: the downward shift
Lump new car sales with the larger used car market, which accounts for around 60 percent of total sales, and overall sales are down 7 percent on last year, according to the Automobile Importers Association.
Yet while a drop in second-hand car sales is a boon to dealerships – and an environmental plus when it comes to the country’s carbon emissions, with fewer fuel-inefficient clunkers on the roads – the market has gone through a radical change in recent years that can be summed up in one word: downsizing.…
EU TO MOVE GOALPOSTS ON TAX EVASION, WHILE OECD EXPANDS GLOBAL TAX INFORMATION EXCHANGE SYSTEM
THE EUROPEAN Commission is attempting to move the legal boundary where tax avoidance becomes tax evasion, criminalising some aggressive tax planning that has caused controversy across Europe. The move is one a number of recent practical tax and anti-fraud law reforms that Brussels has been pushing to help tax authorities in the European Union (EU) collect reasonable levels of revenue.…
LEBANON STRUGGLES TO PRESERVE ITS AML REPUTATION AMIDST US REGULATIONS AND THE SYRIA CONFLICT
Given its location, political actors and recent history, Lebanon has long been under the international regulatory spotlight. The US Treasury’s fingering of the Lebanese Canadian Bank in 2011 for money laundering concerns rocked its financial sector. Beirut has since been scrambling to address any short-comings, while at the same time dealing with sanctions on neighbouring Syria.…
SYRIA TURNS TO RUSSIA, IRAN IN FACE OF MULTILATERAL SANCTIONS
While Syria is mired in its bloody civil war, it remains targeted by multilateral sanctions. But despite being essentially cut off from the international banking system, Damascus is evading these sanctions by using Russian banks, and is being financially propped up by Iran.…
LEBANON COSMETICS SECTOR STRUGGLES WHILE CIVIL WAR DECIMATES SYRIA’S PERSONAL CARE MARKET
LEBANON’S personal care product market, estimated by local industry executives to be worth USD80 to USD100 million-a-year, has been struggling over the past two years due to an economic downturn, political instability, and a drop in tourists. The civil war in neighbouring Syria has had a clear impact, while the conflict has resulted in Syria’s personal care market grinding to a halt, with the exception of essentials such as shampoo.…
MIDDLE EAST COSMETICS MARKETS DIVIDED: GULF BOOMS WHILE LEVANT STRUGGLES
PERSONAL care product market in the Middle East can be divided into two current trends: sales in the affluent Gulf Cooperation Council (GCC) countries are booming, while on the other side of the region, in the Levant, markets are feeling the effects of the Syrian conflict, with the loss of tourists and low consumer confidence impacting bottom lines.…
EFSA RECOMMENDS RIFT VALLEY FEVER STUDIES AS LIVESTOCK AND HUMAN DISEASE CREEPS TOWARDS NORTH AFRICA
THE EUROPEAN Food Safety Authority (EFSA) has advised the European Union (EU) to launch a series of studies to help assess the risk of Rift Valley Fever being introduced to livestock and humans in north Africa and the Middle East, potentially threatening Europe.…
LEBANON REMAINS KEYSTONE OF TOBACCO MOLASSES HOOKAH MARKET
LEBANON was an important shop window for Middle East and North Africa manufacturers of tobacco molasses used in hookahs until a public smoking ban was implemented in 2012. And while the ban has dented Lebanon’s strategic positioning, as a popular regional tourist destination and with the Lebanese travelling widely, the country is still an important market.…
TERROR FINANCE - CAN THE EU BE AN EFFECTIVE COP?
BY CARMEN PAUN, IN BRUSSELS
AFTER two years from the entry into force of the Terrorist Finance Tracking Programme (TFTP) between the European Union (EU) and the United States, the European Commission patted itself on the back, claiming the agreement is working.…
REVIEW OF 2012 JUST-STYLE MANAGEMENT BRIEFING: RETAIL WINNERS AND LOSERS IN 2012
BY MJ DESCHAMPS
WINNERS
Fast Retailing
Japanese retail giant Fast Retailing underwent major expansion this year, opening the world’s largest Uniqlo store in Tokyo’s upscale Ginza shopping district, boasting 12 floors and a total retail space of 4,959 square metres. In May, Fast Retailing announced plans to set up a subsidiary company in China to oversee its ‘aggressive’ expansion plans in the country, just a month after it said it planned to open 62 stores in China during its current financial year – taking its store count there to 142, by the end of August.…
MIDDLE EAST PAINT MARKET KNOCKED BY CONTINUING DISPRUPTION OF ARAB SPRING
BY PAUL COCHRANE, IN BEIRUT
THE UPRISINGS in the Middle East and North Africa (MENA) over the past two years have had a negative impact on the construction and paint sectors, throwing a proverbial spanner in the works when the region was striving to come out of recession.…
SYRIA CONFLICT DISRUPTS MIDDLE EAST COSMETICS MARKET, BUT GULF SALES ARE BOUYANT
BY PAUL COCHRANE, IN BEIRUT
It has been a been a turbulent time in the Middle East since the Arab uprisings swept much of the region over the past year-and-a-half, with not only sales of cosmetics, toiletries and perfumeries being depressed by losses in consumer confidence, but also distribution being harmed, especially by the protracted conflict in Syria.…
MIDDLE EAST AND SOUTH AFRICA
BY PAUL COCHRANE, IN BEIRUT, AND BILL CORCORAN, IN CAPE TOWN
Drinks distribution is highly fragmented in the Middle East, and ranges from best practice at leading companies in the Gulf countries to less automated and more labour-orientated methods in the Levant.…
SANCTIONS MAKE BUSINESS WITH SYRIA DIFFICULT, BUT NOT IMPOSSIBLE
BY PAUL COCHRANE, IN BEIRUT
The economic sanctions imposed on Syria last year by the United States and Europe to pressure Damascus to end its violent crackdown on protesters has made doing business in Syria difficult, especially financial transactions. But the sanctions are being evaded, with Lebanon a prime conduit for goods and capital outflows.…
SYRIA CRISIS HITS TOBACCO TRADE - LOCAL COMPANY BENEFITS, BUT FOR HOW LONG?
BY PAUL COCHRANE, IN BEIRUT
Syria’s long uprising and associated sanctions has removed some competition for national tobacco company GOT. But a collapse in the Syrian pound has made inputs more expensive. And now GOT is facing an asset freeze in Europe as sanctions tighten.…
ENGLISH SPREADS AS TEACHING LANGUAGE IN UNIVERSITIES WORLDWIDE
BY ANDREW GREEN, WANG FANGQING, PAUL COCHRANE, JONATHAN DYSON AND CARMEN PAUN
THE POLITECNO di Milano, one of Italy’s most prestigious universities, will teach and assess most of its degree courses and all its postgraduate ones entirely in English from 2014, UWN reported recently.…
LIBYA REBUILDS ITS AIRPORTS AND ECONOMY POST-CIVIL WAR
BY MEGAN DETRIE, IN CAIRO
A YEAR after the break out of the civil war in Libya which ousted Colonel Muammar Gaddafi from power – but paralysed the economy – the north African country’s airports are just now beginning to reopen, with construction projects likely to resume in the coming months.…
IRAQ FACES TOUGH CHALLENGES TO MAKE THE GRADE IN AML/CFT POLICY
BY PAUL COCHRANE, IN BEIRUT
WHILE the Iraqi government has implemented regulations that are both anti-money laundering (AML) and for combating the financing of terrorism (CTF), it has had lacklustre results in enforcement due to ongoing instability in the country. Corruption and endemic smuggling are also major problems.…
UPRISINGS RAISE SPRING HOPES FOR ARABIC PUBLISHERS
BY PAUL COCHRANE IN BEIRUT
THE ‘ARAB Spring’ uprisings in the Middle East and North Africa (MENA) over the past year have had a mixed effect on Arabic publishing. Book sales have plunged due to instability, and while some countries have loosened up on censorship, others have clamped down.…
ISRAEL PONDERS WHETHER TO EXPORT NATURAL GAS
BY KEITH NUTHALL, PAUL COCHRANE, IN BEIRUT; AND HELENA FLUSFELDER, IN JERUSALEM
IT is not often that a country that has serious energy security issues gets to choose about whether it wants an energy export industry – but the State of Israel is in this relatively happy situation.…
ANTI-MONEY LAUNDERING AND TERROR FINANCE RULES ARE MUCH TOUGHER, 10 YEARS AFTER 9/11 ATTACKS
BY PAUL COCHRANE
THE SEPTEMBER 11, 2001, terrorist attacks thrust anti-money laundering (AML) and counter terrorist financing (CTF) initiatives into the spotlight as the United States embarked on its ‘war on terror’. A decade later, tremendous progress has been made in tracking and seizing dirty money.…
UPRISINGS CUT BOTH WAYS FOR LEBANESE PRINTERS
BY PAUL COCHRANE
UPRISINGS in the Middle East and North Africa (MENA) this year have hit demand for printers in Lebanon, which has long been the printing hub of the region. Lebanese printers canvassed privately for Print Week MEA report that the upheavals have seen demand from Egypt and Syria decline, while transportation has been marginally affected from Lebanon due to the situation in neighbouring Syria.…
FINANCING ESPIONAGE - MOVING MONEY AROUND THE WORLD'S SPY NETWORKS
BY PAUL COCHRANE
INTELLIGENCE agencies by their very nature are secretive. So too are budgetary expenses and the ways in which agencies finance operations, especially in foreign jurisdictions and where they carry out so-called ‘black ops’. The techniques to quietly transfer funds do not in fact differ that widely from organised crime or terrorist groups, using banking services, front companies, charities and the like.…
DIRTY MONEY FLOWS EAST AS WEST TIGHTENS ITS AML SYSTEMS
BY PAUL COCHRANE
THE WESTERN financial system is undergoing profound change, of weakened trust in the sector, heightened tax regulations, pressure to curb banking secrecy and tougher regulatory compliance. As a result, the owners of legal and extra-legal capital who are looking for a safe haven for their money are starting to consider destinations outside the established offshore jurisdictions – the less regulated financial centres of the Middle East and Asia.…
THE GULF MARKET'S APPETITE FOR PERSONAL CARE PRODUCTS CONTINUTES TO GROW
BY PAUL COCHRANE
THE MULTI-billion dollar beauty market in the Middle East’s Gulf countries is back on an upward trend, thanks to renewed economic growth as this rich region, with avid consumers start spending again. Demand for cosmetics and personal care products are being driven by high disposable incomes, new sales channels and a growing lifestyle trend among both men and women in terms of plastic surgery, personal fitness and body care.…
MIDDLE EAST OFFERS ALTERNATIVE QUALITY CHOCOLATES TO GLOBAL MARKETS
BY PAUL COCHRANE
THE MIDDLE East’s confectionery market (including the Gulf, the Levant, Egypt (but not elsewhere in north Africa), Iraq Iran, Turkey and Israel) was valued at US dollar USD113 billion in 2009, while annual chocolate sales exceeded USD4.2 billion, according to USA-based TNS Media Intelligence.…
TURKEY TAXATION HIKE HITS LEGAL SALES AND ENCOURAGES SMUGGLING
BY PAUL COCHRANE
Turkey taxation hike encourages smuggling
Increases in tobacco taxation in Turkey have helped prompt a surge in smuggling. Turkey is geographically poorly placed to resist illicits given its proximity to Iran and Bulgaria – known sources of contraband.…
LEBANESE-CANADIAN BANK DESIGNATED A PRIME MONEY LAUNDERING CONCERN
BY PAUL COCHRANE
EARLIER this year, the Lebanese-Canadian Bank (LCB) was designated by the United States as a prime money laundering concern, for alleged connections to drug traffickers and acting as a financial conduit for Lebanese political party Hezbollah, which Washington considers a terrorist organisation.…
FREEZING OUT AL QAEDA AND THE TALIBAN
BY PAUL COCHRANE
UNDER the United Nations’ Al-Qaeda and Taliban sanctions regime, more than 30 states have frozen at least US dollars USD90 million in assets as of September 2010. But Al Qaeda, the Taliban and other designated terrorist groups in the Middle East and Central Asia continue to receive funding despite the region’s widespread adoption of international regulations on anti-money laundering and combating the financing of terrorism (AML/CTF).…
GLOBAL OLIVE OIL PRODUCTION IS BOOMING
BY LEE ADENDOORF, ALYSSA MCMURTRY, MAKKI MARSEILLES, and KEITH NUTHALL
GLOBAL olive oil manufacturing is on a roll, with the International Olive Council (IOC) saying 2009-10 world production was 3.02 million tonnes, a season-on-season increase of 354,500 tonnes (+13%). This would be the second best olive oil production year ever, next only to the record of 3.17 million tonnes produced in 2003/04.…
The Middle East: On the edge of the abyss?
By Paul Cochrane, in Beirut
Countless times I've read analysis and the blurb on the back of books that the Middle East is ‘on the brink’, a ‘tinderbox’ ready to explode due to the nepotistic nature of governments and the dire economic conditions of much of the region. Now more than ever, these predictions look like they may be coming true - a dictatorial regime has fallen in Tunisia and another is tottering in Egypt.Some of these analyses have predicted the imminent fall of the Middle East’s regimes and monarchies for the past four decades. A Middle East ‘spring’ was just around the corner, the people would rise up and the region’s overwhelmingly authoritarian regimes would no longer have their days in the sun.…
LEVENTINE OLIVE OIL PRODUCTION PUSHING TOWARDS MODERNITY
BY PAUL COCHRANE
OLIVE oil production in the Levantine counties of the Middle East has moved away from traditional methods to bolster exports and develop domestic sales. But where Syria has risen to be the fourth largest producer in the world, Jordan’s modernisation of the sector is being undermined by cheap smuggled olive oil from Syria, and Lebanon needs major investment to bring the sector up to speed.…
The Middle East: On the edge of the abyss?
By Paul Cochrane
Countless times I’ve read analysis and the blurb on the back of books that the Middle East is ‘on the brink’, a ‘tinderbox’ ready to explode due to the nepotistic nature of governments and the dire economic conditions of much of the region.…
POLITICAL WRANGLING AND RED TAPE OBSTRUCTS LEBANESE OIL AND GAS PRODUCTION
BY SAMI HALABI
BEFORE the county’s 1975-90 civil war Lebanon was an oil transit nation, with pipelines running through its territory from Saudi Arabia, and export terminals on its shores. Today, the country cannot even produce the electricity it needs to power its cities and is completely dependent on imports of oil and gas for energy.…
EGYPT'S CLOTHING INDUSTRY POTENTIAL STARTING TO BLOOM
BY PAUL COCHRANE
OVER the past five years Egypt has cemented its position as a fashion hub for European and American high street brands, with average annual garment exports earning the country US dollars USD2 billion, yet domestic labels are generally not exported and high-end clothing manufacturing is still very niche.…
KURDISH IRAQ TOBACCO MARKET IS MIDDLE EAST BLACK MARKET HUB
BY PAUL COCHRANE
Kurdish Iraq tobacco market is Middle East black market hub
International tobacco companies entered Kurdish Iraq after the US-led invasion. But political instability has made this a tough market to operate in. Black market trades thrive. And there are a wide variety of brands from around the world available.…
BYPASSING THE SANCTIONS: SYRIA-IRANIAN BANK FACING SCRUTINY
BY PAUL COCHRANE
SYRIA and Iran are both designated by the US state department as sponsors of terrorism, while the countries’ major state-run banks are blacklisted by the US Treasury Department, which places the banks under scrutiny and prevents them from dealing with the American financial system.…
EXPORT SALES OFFER SOLACE FOR HARD-PRESSED SPANISH BOOK SECTOR
BY ROBERT STOKES
EXPORT development and digital trends dominated discussion at the 30th annual staging of Liber, Spain’s leading book fair, in Barcelona last week.
With Spain still gripped by recession, short-term hopes rest on exports and e-books. Government figures released at Liber showed book exports of all kinds rose 5.4% to EUR482 million (GBP402 million) in 2011.…
STOWAWAY DEATH PROMPTS BEIRUT AIRPORT SECURITY UPGRADE
BY SAMI HALABI
THE LEBANESE government is preparing tenders for around US$13 million security improvements at Beirut-Rafic Hariri International Airport, after a stowaway incident prompted a review. In July, maintenance crews in Riyadh, Saudi Arabia found the deceased body of 20-year old Firas Haidar in the landing gear of a flight from Beirut.…
GERMANY BOOSTS GENERIC MEDICINE PRODUCTION IN AFRICA AND ASIA
BY KEITH NUTHALL
THE GERMAN government is giving Euro EUR1.2 million to a UN project expanding and upgrading small and medium-sized generic pharmaceutical manufacturers in Asia and Africa. It is run by the UN Industrial Development Organisation (UNIDO) and aims to spread medicine manufacture across a continent where production is mainly concentrated in South Africa, Nigeria, Ghana and Kenya.…
EU RESEARCHERS PROBE THE DEEPS FOR MEDICINES
BY KEITH NUTHALL
A EURO EUR6million research project will see scientists collect, isolate and classify marine organisms, including sea anemones, tunicates and micro and macroalgae, from the world’s seas and oceans, and look for active biochemicals with potential medical uses. The 2010-1014 MAREX project is coordinated by the University of Helsinki, Finland, working with researchers from Belgium, Britain, Chile, Finland, France, India, Italy, Lebanon, Poland, Slovenia, Spain, Sweden and Turkey.…
HIJABISTAS USING PURCHASING POWER TO BUY MUSLIM-FRIENDLY FASHION
BY PAUL COCHRANE
MUSLIM fashion is traditionally conservative – a far cry from the often flashy fashion runways of the West. But a younger Muslim generation of female ‘hijabistas’ is combining Islamic values with high fashion, working hijabs and other head coverings into high-end, high fashion knitted and crocheted outfits.…
EU OFFERS ACCESS TO MIDDLE EAST CONFECTIONERY EXPORTERS
BY PAUL COCHRANE
CONFECTIONERY manufacturers in the Middle East are not only ideally placed geographically to sell their products to the rich European Union (EU) market, they are assisted by a series of free trade agreements either in place, or in the works.…
RELIGION AND SMOKING DON'T ALWAYS MIX WELL
BY PAUL COCHRANE, AHMAD PATHONI, GAVIN BLAIR, RAGHAVENDRA VERMA, WANG FANGQING, HELEN FLUSFELDER, KARRYN MILLER, KEITH NUTHALL and ALAN OSBORN
THE BRITISH writer Oscar Wilde wrote: "A cigarette is the perfect type of a perfect pleasure. It is exquisite, and it leaves one unsatisfied.…
VODKA STILL LEADS THE WAY FOR RUSSIAN QUALITY DRINKS EXPORTS
BY JOHN PAGNI
Russia has a strong drinks sector, for spirits, beer and juices, especially. Alcoholic beverage makers are having to deal with flat sales on the domestic market and a government determined to reduce alcohol consumption, forcing quality producers to look for export sales to boost profits.…
FORMAL DRINKS INDUSTRY EDUCATION SYSTEMS GROWING WORLDWIDE
BY ALAN OSBORN, EMMA JACKSON, PAUL COCHRANE and JULIAN RYALL
INTRODUCTION
Professionalisation is a key trend in today’s drinks sector, particularly as export markets are growing fast in emerging markets. With brand loyalty up for grabs, it is critical for alcoholic drinks producers especially to maintain and raise quality.…
SOMALI PIRACY AND THE SPECTRE OF MONEY LAUNDERING
BY PAUL COCHRANE
PIRACY has increased exponentially off the coast of Somalia in recent years, with ships hijacked deep into international waters despite the presence of a multi-national naval task force, and pirates demanding ever higher ransoms from shipping companies. But while the spoils of piracy are evident in coastal Somali towns, tracking down where the remaining millions of dollars disappear to is hard to pin down, with allegations circulating of ransom money entering the real estate markets of Kenya, to money laundering in Yemen and Dubai.…
Middle East faces demographic timebomb
By Paul Cochrane, in Beirut
With the end of the summer holidays, children and young people across the Middle East and North Africa (MENA) once again donned uniforms, packed satchels and headed to school, amounting to more than a quarter of the region returning to class.
In Syria, a quarter of the country's population, some 5.3 million people, are enrolled in schools, while 38% of Saudis, 46% of Yemenis, 31% of Jordanians and 31% of Egyptians are below 14 years of age. Altogether, including Iran, half of the MENA's 300 million-plus people are under 24 years old.
While all these kids are in school, there is no pressing socio-economic problem. But over the next decade as students graduate and want to enter the workplace, finding employment for them all will be difficult. Already the Middle East and North Africa have among the highest unemployment rates in the world at 9.4% and 10.3% respectively, according to an International Labour Organisation report.…
Should cultural clothing rules be imposed in age of globalisation?
By Paul Cochrane, in Beirut
In an age of mass migration on a global scale, is it possible for governments to impose on the public, particularly immigrants, what they can and cannot wear? Take the diktats on women's wear in France versus Iran. In the Islamic Republic, females above the age of nine are required to wear the hijab (veil) and cover up their bodies.
Conversely, in France the authorities have talked of banning the burka and succeeded several years ago in banning the hijab in public offices and schools. Turkey has also done the same in the name of secularism.
Many argue that the French and Turkish are right to do so, to stem the tide of Islamisation and, moreover, for women – in most cases girls – to have the individual choice as to whether they want to wear a hijab, not decided upon by parents or family.…
Middle East faces demographic timebomb
By Paul Cochrane
With the end of the summer holidays, children and young people across the Middle East and North Africa (MENA) once again donned uniforms, packed satchels and headed to school, amounting to more than a quarter of the region returning to class.…
SYRIAN TOBACCO MARKET THRIVING
BY PAUL COCHRANE
THE SYRIAN tobacco market, dominated by the state-run General Organisation of Tobacco (GOT), is witnessing substantial growth on the back of rising domestic demand and export of Syrian tobacco leaf, with average annual growth of 10% to 13%, according to the GOT.…
Should cultural clothing rules be imposed in age of globalisation?
By Paul Cochrane
In an age of mass migration on a global scale, is it possible for governments to impose on the public, particularly immigrants, what they can and cannot wear? Take the diktats on women’s wear in France versus Iran.…
BRUSSELS AND WASHINGTON HIT STALEMATE OVER FURTHER OPEN SKIES DEAL
BY ALAN OSBORN
THESE are uncertain times for international aviation deals generally thanks to the global recession, but nowhere is the situation more fraught than in Washington where negotiations for the second stage of the 2007 ‘open skies’ agreement between the European Union (EU) and the USA appear to have run into the buffers.…
Middle east elections shake up region's peace diplomacy
By Paul Cochrane, in Beirut
June has been a month of elections in the Middle East. As happens every now and again in a region pretty thin on democracy and heavy on dynastic rule, there are elections that matter. The outcome of the Lebanese and Iranian elections fall in this rather rare category, with the Lebanese result retaining a status quo the West is happy with, while the Iranian 'result' is further souring relations with the US and Europe.
For despite being on either side of the Middle East, with Beirut and Tehran being as geographically far apart as London and Rome, the results play into the region’s fractious politics. The common ground is Israel and the Iranian-backed Hezbollah.…
EURO ARAB MASHREQ GAS PIPELINE APPROACHES COMPLETION
BY PAUL COCHRANE
THE EURO-MASHREQ gas pipeline that runs 1,200 kilometers from Egypt through Jordan and Syria to Turkey has taken 20 years to come to fruition. The end is in sight however, with the project awaiting a final tender for the last leg through northern Syria.…
Middle East elections shake up region's peace diplomacy
By Paul Cochrane
June has been a month of elections in the Middle East. As happens every now and again in a region pretty thin on democracy and heavy on dynastic rule, there are elections that matter. The outcome of the Lebanese and Iranian elections fall in this rather rare category, with the Lebanese result retaining a status quo the West is happy with, while the Iranian ‘result’ is further souring relations with the US and Europe.…
IRAN STILL INTERNATIONAL PARIAH OVER MONEY LAUNDERING REGULATIONS
BY PAUL COCHRANE
IRAN has been under international financial and other trading scrutiny since the Islamic revolution 30 years ago, with sanctions by the United States tightened under the Clinton administration through the Iran-Libya Sanctions Act. And since Iran’s decision to embark on a nuclear programme, US sanctions have intensified, but in the face of such restrictions Iranian banks and individuals are increasingly using joint venture banks in the Middle East and South America to bypass scrutiny.…
TURKEY RAMPS UP CAR SAFETY INSPECTIONS
BY PAUL COCHRANE
TURKEY is ramping up car safety inspections as part of its bid to join the European Union (EU). Last year, Turkey hired a consortium made up of a German inspection firm TUV-Sud; Turkish car importer and distributor Dogus Automotive; and Akfen, a Turkish construction company, to independently inspect motor vehicles.…
UNITED ARAB EMIRATES CAR MARKET FALLS OFF CLIFF
BY PAUL COCHRANE
VEHICLE sales in the United Arab Emirates (UAE) plunged by up to 45% in the first two months of the year compared to 2008, according to Ford, a remarkable change in fortunes from the years of double-digit growth when the US$3.6 billion sector was one of the fastest growing in the world.…
COSMETICS MAJORS MUST MARKET TO DISTINCT ISRAEL AND ARAB MARKETS IN MIDDLE EAST
BY PAUL COCHRANE
THE COSMETICS and personal care sector in the Middle East is one of the fastest growing in the industry worldwide, registering 12% annual growth in the three years to 2008, and valued at US$2.1 billion, according to trade experts Epoc Messe Frankfurt (EMF).…
AL QAEDA FINANCING
BY PAUL COCHRANE
THE SEPTEMBER 11, 2001 attacks on the US resulted in a raft of regulations to curb terrorist financing, but seven years on Al Qaeda is still at large, has adapted to the new regulatory environment to raise funds, and morphed into an international terrorist Hydra.…
Lebanon's turbulent friendship with the international community
And with Lebanese political leaders looking to outside powers to consolidate their domestic position, whether you are pro- or anti- Western depends on the politics of the day.
But that, like any brief summary of Lebanon, is a simplification, as although the Hizbullah led opposition is ostensibly anti-Western, strongly backed by Iran and ardently anti-Zionist, fellow opposition party the Free Patriotic Movement (FPM) is predominantly Christian and pro-Western.…
EU ROUND UP - EU MAKES MAJOR STRIDES IN SECURING ENERGY SUPPLIES FROM NEIGHBOURING COUNTRIES
BY KEITH NUTHALL
WITH Dmitry Medvedev becoming Russia’s new president, the European Union (EU) has been pushing ahead to secure oil and gas supplies independent of Moscow. EU energy Commissioner Andris Piebalgs and external relations Commissioner Benita Ferrero-Waldner met with Egypt, Syria, Iraq, Jordan, Lebanon and Turkey diplomats and officials to discuss gas pipeline links.…
MIDDLE EAST DENIM MARKET DOMINATED BY LABELS IN RICH GULF AND ISRAEL, AND STYLE IN POORER LEVANT
BY PAUL COCHRANE, in Damascus and Beirut, and HELENA FLUSFELDER, in Jerusalem
INTRODUCTION AND THE GULF
THE DENIM sector in the Middle East is as diverse as it is fragmented, with strong demand in the Gulf and Israel for major brand names and the latest trends, while in the less economically developed parts of the Levant international brands are of less importance than style.…
BOTTLES WATER AND FRUIT JUICE CONSUMPTION BOOM FUELS GROWTH IN MIDDLE EAST DRINKS SECTOR
BY PAUL COCHRANE, in Beirut, and HELENA FLUSFELDER, in Jerusalem
THE DRINKS market in the Middle East continues to increase on the back of population growth, economic development, improvements in distribution and retail, and more aggressive advertising campaigns.
But like much of the rest of the world, younger and better educated market segments within the region are shifting away from carbonated soft drinks (CSD) towards fruit juices and bottled water as people become increasingly health conscious according to independent industry analysts and the drinks sector.…
REGIONAL TRADE DEALS PROMOTE GLOBAL TRADE IN CLOTHING AND TEXTILE SECTOR
BY LUCY JONES, in Dallas; ALAN OSBORN, in London; KARRYN CARTELLE, in Tokyo; BILL CORCORAN, in Johannesburg; PAUL COCHRANE, in Beirut; RACHEL JONES, in Caracas; MARK ROWE; and KEITH NUTHALL
WITH the World Trade Organisation’s (WTO) Doha Development Round being slow to proceed since its 2001 launch – and only this year approaching something resembling and end game – free traders wanting to encourage global commerce have looked to bilateral and regional trade deals.…
THE MIDDLE EAST: A HUB FOR FAKE CAR PARTS
BY PAUL COCHRANE, in Kuwait
THE MARKET for fake car parts in the Middle East is rising at an alarming pace, now accounting for an estimated 30% of the region’s US$11 billion parts sector. In a recent Organisation for Economic Cooperation and Development (OECD) report, the Middle East was highlighted as a central market in the US$16 billion global trade in fake auto parts, which is growing at an estimated 9-11% a year.…
CHINA IS KEY SOURCE OF GLOBAL COUNTERFEIT CAR PARTS TRADE SAYS OECD
BY KEITH NUTHALL
CHINA has been baldly accused of hosting much of the world’s booming counterfeit auto parts production. A detailed report by the planet’s largest think tank – the Organisation for Economic Cooperation and Development (OECD) – said: "China has been repeatedly identified as the principal source of counterfeit activity in the automotive sector, involving both trademark and design infringements.…
LEBANON AIRPORTS STRUGGLE TO RECOVER FROM 2006 ISRAEL WAR
BY PAUL COCHRANE, in Beirut
BEIRUT’S re-named Rafik Hariri International Airport (RHIA) is still reeling from last year’s conflict between Israel and the militant Lebanese group Hezbollah, with passenger numbers down and some US$19 million needed to acquire a second radar and upgrade communications and security systems.…
MIDDLE EAST GAS SUPPLY AGREEMENT NEEDED FOR VITAL SYRIA GAS PIPELINE TO REACH TURKEY
BY PAUL COCHRANE, in Damascus
A EUROPEAN Union (EU) sponsored gas cooperation centre working with the Syrian government has called for a review of the value of gas in the region and the completion of the much-vaunted Euro-Mashreq gas pipeline.
The 1,300 kilometre 36-inch gas pipeline, which will link Egypt, Jordan, Syria, Lebanon, Turkey and eventually Europe, is 60% complete.…
MIDDLE EAST FEATURE - UAE BAHRAIN LEBANON SAUDI ARABIA
BY PAUL COCHRANE, in Beirut
SALES of cosmetics, perfumes and toiletries are surging in the Middle East, with sales reaching US$2.1 billion last year according to official statistics.
German cosmetics and toiletries manufacturing giant Beiersdorf estimated regional growth at 10% percent last year.…
LEBANON
BY PAUL COCHRANE, in Beirut
Lebanon’s cosmetics, toiletries and perfumery sector, excluding shaving creams and soaps, is estimated to be worth US$180 million a year, according to L’Oréal.
The sector was seriously affected by the month long war between Israel and Hizbullah last year.…
MIDDLE EAST COMPANIES CONCERN GROWS OVER NEED TO FIGHT COUNTERFEITING, SMUGGLING AND PIRACY
BY PAUL COCHRANE, in Dubai
CURBING the counterfeiting and smuggling of established companies’ goods has become a pressing concern for international businesses wanting to protect their brands in the growing economies of the Middle East.
Although certain sectors are suffering more than others, the issue has been deemed serious enough for leading multinationals to team together last year to create a Brand Owners’ Protection Group (BPG) in the Middle East to tackle the region’s part in generating the US$500 billion global counterfeit trade.…
SYRIA INCREASINGLY OPEN FOR BUSINESS FOR INTERNATIONAL FOOD SECTOR
BY PAUL COCHRANE, in Damascus
OVER the past six years Syria, once a byword for proto-Soviet state control and autarky, has opened up its economy and implemented investment laws that allow foreign companies to set up shop. But few multinational food companies have wised up to the opportunities within an emerging market of 18 million consumers.…
MIDDLE EAST VOX POP: FALCONRY - IS IT OUT OF CONTROL?
BY PAUL COCHRANE, in Beirut
HUNTING with falcons has been part of Arab culture for thousands of years, but with wild falcons declining because of trapping and Middle Eastern hunters also shooting falcons for sport, what do Arabs think about imposing tougher restrictions?…
EFTA STRIKES FREE TRADE DEAL WITH LEBANON
BY KEITH NUTHALL
IMPORT duties on tobacco products shipped from the Lebanon to the European Free Trade Area (EFTA) countries have become duty free under a wide-ranging commercial agreement, which came into force on January 1. The EFTA-Lebanon Free Trade Agreement will also see Lebanese duties being cut from 2008, to be abolished entirely by 2015.…
LEBANON STUDENT RIOTS KILLS TWO, MANY INJURED
BY PAUL COCHRANE, in Beirut
IN an already charged political atmosphere a verbal argument between students at the Beirut Arab University on Thursday turned violent, spreading out onto the streets and leaving two students dead and over 160 students and protesters wounded.…
MARKS and SPENCER INVESTIGATE POSSIBLE BEIRUT BRANCH
BY PAUL COCHRANE, in Beirut
AN ARAB language newspaper has reported that British clothing retail giant Marks & Spencer is investigating opening a branch in the Lebanese capital Beirut.
The Al Balad newspaper said talks have been suspended however over Lebanon’s ongoing political instability and concern over the possible store location.…
ERASMUS CRITICISED AS GLOBAL EXCHANGE POLICY IS PUSHED INTO RUSSIA AND CENTRAL ASIA
BY KEITH NUTHALL
AS the European Union’s (EU) flagship Erasmus student exchange programme approaches its 20th birthday, EU education Commissioner Jan Figel has criticised it for failing poorer students across Europe. The Slovak said: "The Erasmus grant remains far too low to allow students from less favourable financial backgrounds to enjoy the benefits of the programme.…
EUROPEAN COMMISSION NAMES MEDICINE COUNTERFEITING HOTSPOTS
BY KEITH NUTHALL
THE EUROPEAN Commission has highlighted countries with particularly significant counterfeiting and piracy of medicinal products. Following 290 replies from businesses, trade associations and diplomatic missions, covering 63 countries, its survey report named Egypt as a real problem zone, criticising the December 2004 approval of 850 local copies of pharmaceuticals "without generic companies having to "prove the efficiency and safety of the copy".…
CARIBBEAN FOOD MANUFACTURERS PUSH TO DIVERSIFY
BY WESLEY GIBBINGS, in Port of Spain
TIME-WAS that food production in the Caribbean was dominated by commodities, with sugar and bananas being king and queen of island economies. Protected from the rigours of world markets by age-old ties to current or former colonial markets, these cash crop supplies remained largely unchanged for centuries.…
LEBANON PAINT INDUSTRY DAMAGED BY ISRAEL WAR
BY PAUL COCHRANE, in Beirut
LEBANON’S paint sector took a heavy blow during the 34-day conflict between Israel and Hizbullah this summer, recording millions of dollars in direct and indirect losses.
Shaker Saab, business development manager for Tinol Paints, said July and August sales dropped 95%.…
LEBANON FOOD MANUFACTURERS STRUGGLING TO RECOVER AFTER ISRAEL-HIZBULLAH WAR
BY PAUL COCHRANE, in Beirut
LEBANON’S food manufacturing sector took a heavy blow during the 34-day conflict between Israel and the Lebanese militia Hizbullah, recording tens of millions of US dollars in direct damages and more than US$500 million in indirect losses.…
LEBANON CLOTHING SECTOR STRUGGLES TO RECOVER FROM ISRAEL-HIZBULLAH WAR
BY PAUL COCHRANE, in Beirut
LEBANON’S clothing sector – manufacturing and retail – was crippled by the month long war between Israel and Hizbullah, and the knock-on effects of the conflict have proved equally problematic for a sector that was just recovering from a slump caused by political turbulence in 2005.…
BEIRUT AIRPORT STUGGLES TO RECOVER FROM ISRAEL-HIZBULLAH WAR
BY PAUL COCHRANE, in Beirut
FOR nearly two months this summer, Beirut’s Rafik Hariri International Airport was out of action, crippled by Israel’s aerial attacks on the runways during its war with Hizbullah and by an air blockade that lasted long after the ceasefire was in place.…
LEBANON UNIVERSITIES STRUGGLE TO RECOVER FROM ISRAEL-HEZBULLAH WAR
BY PAUL COCHRANE, in Beirut
CONTRARY to all assumptions, Lebanese universities have not experienced the student exodus they thought might happen following the month long war between Israel and Hizbullah, but the conflict did cost lives, financial losses and a sizeable reduction in the number of Western students.…
FAO STEPHEN WHITE WORLD TOBACCO
BY PAUL COCHRANE, in Damascus and Amman
JORDAN and Syria both have large tobacco markets, with a third of Jordan’s population, and around 60% of Syria’s male population, being smokers. Both markets are growing, spurred on by large young populations and the cultural prevalence of smoking cigarettes and nargileh (water pipes), but not all is rosy in the sector.…
LEBANON ISRAEL WAR ENVIRONMENTAL DAMAGE
BY PAUL COCHRANE
BEIRUT: The month long war waged by Israel against Hizbullah has caused considerable damage to Lebanon’s environment.
The coastline is marred by an oil spill, the air has been polluted by burning fuel oil, destroyed factories, forest fires and dust kicked up from bombings, and there is the possibility that depleted uranium (DU) and phosphorous bombs were used by the Israeli military.…
IRAN TOBACCO MARKET REPORT
BY PAUL COCHRANE
The Iranian tobacco market has been partly opened up to international players in the past five years and growth is expected to rise strongly, but development of the sector is beset by extraordinarily high rates of smuggling and governmental regulations.…
MIDDLE EAST BUCKS ISLAMIC STEREOTYPE IN LINGERIE SHOPPING BOOM
BY PAUL COCHRANE, in Beirut
CONTRARY to Islamic stereotyping, lingerie sales are extremely healthy in the Middle East, although the brand is not as important as the style.
Indeed, there is lingerie openly on display that in Europe would usually be confined to sex shops.…
MIDDLE EAST BUCKS ISLAMIC STEREOTYPE IN LINGERIE SHOPPING BOOM
BY PAUL COCHRANE, in Beirut
CONTRARY to Islamic stereotyping, lingerie sales are extremely healthy in the Middle East, although the brand is not as important as the style.
Indeed, there is lingerie openly on display that in Europe would usually be confined to sex shops.…
LEBANON FOOD INDUSTRY SUFFERS FROM WAR
BY PAUL COCHRANE, in Beirut
ONE month into the Israel-Hizbullah conflict, multinational food companies operating in Lebanon have ground to a halt, with the country facing a near total economic blockade and fuel supplies running out.
Since July 12, around 85% of all factories have been forced to close, 35 have been destroyed and distribution is increasingly difficult with over 60 bridges out of action, roads pock-marked with craters and over 450 trucks having been targeted by Israeli warplanes.…
LEBANON GETS INTERNATIONAL HELP OVER OIL SPILL
BY KEITH NUTHALL
THE INTERNATIONAL Maritime Organisation (IMO) is coordinating a global effort to contain the Mediterranean’s largest oil spill, caused by Israeli bombing of oil storage at the Jiyyeh power plant, south of Beirut. At least 10,000 tonnes of oil have escaped into the sea.…
PEPSI THRIVES IN SYRIA AFTER 50-YEAR-BAN ENDS - SOFT DRINKS REVIEW
BY PAUL COCHRANE, in Damascus
THE SOFT drinks market in Syria is undergoing unprecedented growth, expected to surge 17%-18% this year over last year’s 12% growth, and Pepsi’s share of the market growing after just under a year of operations in the country.…
LEBANON UNIVERSITIES CLOSED BY ISRAELI BOMBING CAMPAIGN
BY PAUL COCHRANE, in Damascus
CLASSES at all of Lebanon’s universities have been cancelled and international students and faculty are being evacuated following Israel’s air and sea bombardment of the country.
The American University of Beirut’s (AUB) provost Peter Heath announced Sunday that all classes for the summer semester were cancelled until further notice.…
FRANCE ANTI-FRECKLE CREAM HEALTH WARNING - RAPEX, EUROPEAN COMMISSION
STORIES BY KEITH NUTHALL
THE EUROPEAN Commission’s RAPEX consumer protection information service has warned tests carried out in France on Lebanon-made anti-freckle cream ‘Diana’ were "strongly poitive" regarding mercury contamination. "Severe erythematous, oedematous eczema appeared five hours after application of the product," said the warning, which added Diana also contained.…
MENA FATF MIDDLE EAST MONEY LAUNDERING REGIONAL ORGANISATION
BY PAUL COCHRANE, in Beirut
OVER the last five years the Middle East and North Africa region has firmly joined the global effort to fight money laundering and terrorist financing by setting up national financial intelligence units and a regional watchdog, the Middle East and North Africa Financial Action Task Force (MENA-FATF).…
MIDDLE EAST FEATURE - IRAN SAUDI ARABIA EGYPT UAE LEBANON
BY PAUL COCHRANE, in Beirut
THE COSMETICS and toiletries market in the Middle East is booming with 12% growth expected this year in a US$2.1 billion sector. Market trends differ from country to country, but the general trend is rising demand for European cosmetics over local products in the wealthier Arab countries, largely due to aggressive marketing campaigns by the major brands, and high demand for unregistered, fake brand name perfumes in countries with sizeable low-income populaces, such as Egypt, Lebanon and Syria.…
ARAB COUNTRIES MONEY LAUNDERING PRECAUTIONS ISLAMIC BANKING FAMILY BUSINESSES
BY PAUL COCHRANE, in Cairo
WITH the fight against money laundering and counter terrorism financing relatively new to the Middle East (the first plenary session of the Middle East and North Africa Financial Action Task Force
– MENA-FATF – was only held last year), financial institutions from the US and MENA met in Cairo for a Private Sector Dialogue (PSD) conference to discuss the implementation of international regulations in the region.…
SYRIA MIDDLE EAST ARAB FOREIGN STUDENTS USA UNIVERSITY ENROLMENT DECLINE
BY PAUL COCHRANE, in Beirut
THE NUMBER of Syrians studying in the US has dropped a steep 32% over the past five years, with sometimes-criticised universities in Syria the direct beneficiaries, even attracting foreign students from around the Middle East.
The move comes as Arab students are increasingly shunning top ranked US universities because of anger about its government’s foreign policy, and as Syria’s ossified university system opens up to the private sector.…
IMO ICS SUBSTANDARD SHIPPING CONTROLS ERIKA UNSAFE SHIPS
BY DEIRDRE MASON
THE LATEST round of European Union (EU) proposals to tighten up laws fighting the use of illegally unsafe commercial shipping, announced on November 23, 2005, will place shippers who want to continue operating in EU-controlled waters under closer scrutiny than ever, says the European Commission.…
MIDDLE EAST - NORTH AFRICA DRINKS INDUSTRY REPORT
BY MARK ROWE AND PAUL COCHRANE
INTRODUCTION
JUST as chocolate sells well in cold countries, so do soft drinks flourish in hot countries, which would suggest that North Africa and the Levant presents an inviting face to the international drinks market.…
LEBANON SYRIA SPLIT TOBACCO INDUSTRY CONSEQUENCES
BY PAUL COCHRANE
FOLLOWING the Syrian withdrawal from Lebanon at the end of April 2005 the country’s tobacco industry has encountered certain setbacks, largely connected with the exodus of Syrian workers. These migrants were Lebanon’s primary source of cheap labour, particularly in agriculture and construction, and their departure has affected the tobacco picking season, particularly in the Bekaa Valley, one of Lebanon’s main tobacco growing areas.…
UN OIL FOR FOOD REPORT - OIL COMPANIES NAMED
BY KEITH NUTHALL
THE INDEPENDENT Inquiry Committee into financial irregularities bedevilling the UN Iraq Oil for Food Programme has published details of illicit surcharges demanded of oil companies by the Saddam regime to participate in the scheme. Its investigators show how, for instance, from September 2000 to August 2002, US$228.8 million in illegal surcharges were demanded from oil exporters and which were paid to Iraqi controlled bank accounts in Jordan or Lebanon, and to Iraqi embassies.…
UN OIL FOR FOOD SADDAM KICKBACKS REPORT
BY KEITH NUTHALL
SOAP supplies companies paid together hundreds-of-thousands of dollars in kickbacks to the toppled Saddam regime, the Independent Inquiry Committee into the UN Iraq Oil for Food programme scandal has claimed. There were 101 (mostly toilet) soap suppliers, from countries largely from the Middle East and east Asia, named in a report paying Iraq to secure humanitarian supply contracts.…
IRAQ OIL FOR FOOD KICKBACK SCANDAL REPORT - CONFECTIONARY AND SUGAR
BY KEITH NUTHALL
SUGAR, honey and biscuit supply companies paid together hundreds-of-thousands of dollars in kickbacks to the toppled Saddam Hussein regime, the Independent Inquiry Committee into the UN Iraq Oil for Food programme scandal has claimed. There were 79 suppliers of these confectionary-related products (76 supplied sugar) named in a report, who paid Iraq to secure humanitarian supply contracts under the scheme, out of 2,200 companies overall.…
UN OIL FOR FOOD SADDAM KICKBACKS REPORT
BY KEITH NUTHALL
SOAP supplies companies paid together hundreds-of-thousands of dollars in kickbacks to the toppled Saddam regime, the Independent Inquiry Committee into the UN Iraq Oil for Food programme scandal has claimed. There were 101 (mostly toilet) soap suppliers, from countries largely from the Middle East and east Asia, named in a report paying Iraq to secure humanitarian supply contracts.…
UN OIL FOR FOOD REPORT IRAQ SADDAM HUSSEIN KICKBACKS - STEEL, ALUMINIUM, COPPER SUPPLIERS
BY KEITH NUTHALL
FERROUS and non-ferrous metal companies paid together millions of dollars in kickbacks to the toppled Saddam Hussein regime, the Independent Inquiry Committee into the UN Iraq Oil for Food programme scandal has claimed. More than 150 suppliers of ferrous metal products ranging from carbon steel plates, steel coil, steel joists, galvanised steel cores, steel bars, steel pipes, fabricated steel and others are named in the report, as are around 50 suppliers of aluminium, copper and lead.…
LEBANON, SYRIA, JORDAN PAINT INDUSTRY FEATURE
BY PAUL COCHRANE
IN the Lebanese, Syrian and Jordanian paint markets there is always an extra ingredient that must be thrown into the mix: politics. The political situation, internal or external, can have positive knock-on effects, such as Jordan’s booming construction market due to an influx of Iraqi refugees, or negatively, such as in Lebanon, where the sector is experiencing something of a slump due to political instability.…
IRAQ OIL FOR FOOD SADDAM HUSSEIN KICKBACKS REPORT
BY KEITH NUTHALL
FOOD companies paid millions of dollars in kickbacks to Iraq’s Saddam regime an Independent Inquiry Committee into the UN Oil for Food programme scandal has claimed. Poultry and related production equipment suppliers were amongst those accused of making illicit payments when securing humanitarian contracts.…
UN OIL FOR FOOD PRINTING SUPPLIES SADDAM KICKBACKS - IRAQ
BY KEITH NUTHALL
PRINTING supplies companies paid together hundreds-of-thousands of dollars in kickbacks to the toppled Saddam Hussein regime, the Independent Inquiry Committee into the UN Iraq Oil for Food programme scandal has claimed. More than 30 suppliers of printing machines, paper, inks, etc.,…
LEBANON CAR MARKET EMERGES FROM ISRAELI-HEZBOLLAH WAR
BY PAUL COCHRANE, in Beirut
THE LEBANESE car market experienced its worse summer in decades as a result of the month-long conflict between Israel and Hezbollah, a two-month sea blockade and an economic downturn, with the number of new registered cars dropping 81% in August alone.…
LEBANON FEATURE
BY KEITH NUTHALL
LEBANON has an international reputation far greater than its geographical size and population, much like its national debt. At US$38 billion it is equivalent to over a 100% of the country’s GDP, with a significant chunk of this staggering sum attributed directly to corruption and commercial crime.…
FISCHER BOEL INTERVIEW
BY DAVID HAWORTH
A CLOSER monitoring of live animal exports within the European Union (EU) is promised by the EU agriculture Commissioner, Mariann Fischer Boel, as the former Danish agriculture minister settles down in her new responsibilities.
She will be working hand-in-glove with colleagues who have a direct responsibility for the issue, the Commissioner told the Meat Trades Journal at her Brussels office.…
MIDDLE EAST - NORTH AFRICA DRINKS INDUSTRY REPORT
BY MARK ROWE AND PAUL COCHRANE
INTRODUCTION
JUST as chocolate sells well in cold countries, so do soft drinks flourish in hot countries, which would suggest that North Africa and the Levant presents an inviting face to the international drinks market.…
WHO SMOKING STATISTICS
BY KEITH NUTHALL
WANT to sell cigarettes? Go east, young man. That might be the advice that tobacco companies could glean from the latest set of World Health Organisation (WHO) smoking figures. Using 2003 or latest available data, the WHO has collated percentage rate proportions of smoking adults (18 and over), compared with total populations of all but 56 countries: the overwhelming majority of nations.…
EU ROUND-UP
BY KEITH NUTHALL
THE DOMINANCE of fossil fuels in energy production is set to continue for the next 30 years, even growing a little, the European Environment Agency (EEA)’s latest ‘environmental signals’ report has predicted. Despite the European Union’s (EU) efforts to promote renewable energy, it is “not expected to raise its share significantly” of energy production sources, while “nuclear energy is projected to decline”, it predicted.…
DE PALACIO - SYRIA
BY KEITH NUTHALL
EUROPEAN Union (EU) energy Commissioner Loyola de Palacio has visited Syria, pressing its government to reform its gas infrastructure and regulation so it can play a key role in creating a Middle East-to-Europe network. The European Commission sees Syria as a key link, notably in the so-called Arab pipeline, linking Egypt to Syria and the Lebanon through Jordan.…
IMF - MIDDLE EAST
BY KEITH NUTHALL
THE INTERNATIONAL Monetary Fund (IMF) will establish this year a Middle East Regional Technical Assistance Centre in Beirut, Lebanon, to provide macroeconomic and financial management training to Afghanistan, Egypt, Iraq, Jordan, Lebanon, Libya, Sudan, Syria, West Bank and Gaza, and Yemen.…
USA MONEY LAUNDERING REPORT
BY KEITH NUTHALL
NOBODY likes to be on a blacklist, especially one written by the American government. But every year, the US state department issues a comprehensive rogues gallery of countries involved in the narcotics trade and related criminal problems. One surprising entrant: the United States.…
SMALL EUROPEAN STATES - MONACO MONEY LAUNDERING
BY KEITH NUTHALL
MONACO is all about money. A glamorous speck of high-rises looming above the French Riviera, it is famous for wealthy glamour, tax exiles, racing-cars and gambling. Given this cocktail, it is hardly surprising that this, Europe’s second smallest country by geography, has attracted allegations that it has been the site of money laundering.…
BANNED SHIPS
BY KEITH NUTHALL
BANS have been slapped on 10 ships from entering any European Union port because of concerns they are poorly maintained safety risks, potentially spilling pollution into Europe’s seas. The ships (seven bulk carriers, one chemical tanker and one oil tanker) are from Cambodia, Cyprus, Honduras, the Lebanon, Panama, St Vincent and the Grenadines and Turkey.…
PEPSI MIDDLE EAST FEATURE
BY MARK ROWE
PEPSICO, which is marking 50 years of operations in the Middle East, finds itself at something of a crossroads. An all-American company, in a region where anti-Americanism has rarely been so widespread, it faces several challenges to ensure that it will continue to operate successfully in the Middle East for a further half a century.…
CEDAR BOX
BY KEITH NUTHALL
CEDARS are elegant ornamental and timber evergreen conifers of the genus Cedrus (family Pinaceae); three are native to Mediterranean mountains and one to the western Himalayas. Cedrus libani, the Lebanon’s native species is also found in the Taurus Mountains, Syria and southern and northern Turkey.…
GREECE TURKEY PIPELINE
BY KEITH NUTHALL
EUROGAS and the European Commission have welcomed a deal between two of Europe’s historic enemies – Greece and Turkey – to bury the hatchet and build a Euro 250 million, 285 kilometre, gas pipeline between Komotini in Greek Thrace, with Karacabey, in Turkey, near Istanbul.…
CEDAR TREE BUGS
BY KEITH NUTHALL
AN INTERNATIONAL team of experts has successfully controlled a newly discovered species of parasitic wasp that was threatening to destroy the Lebanon’s iconic cedar woodlands, descended from Levantine forests probably walked by Jesus Christ. From Biblical times to the Nineteenth Century, much of the steep Mount Lebanon range that towers over the eastern Mediterranean was cloaked in ancient cedars.…
CORRUPTION PAPERS
BY KEITH NUTHALL
A PHD in rocket science is not required to understand that corruption is a problem worldwide. But such a qualification – and more – would be required to devise an effective plan to fight this financial plague. The United Nations’ (UN) is drafting an international convention on corruption and asked a string of experts to write reports to illuminate some issues.…
LEBANON SHIPPING RING
Keith Nuthall
A CRIMINAL group based in the Lebanon is stealing multi-million dollar cargoes, the International Chamber of Commerce’s International Maritime Bureau (IMB) has warned. It has reported that the group is running at least two vessels off the eastern Mediterranean, north African, and west African coasts, which they use to divert cargoes from their agreed destination.…
EU ROUND UP
BY KEITH NUTHALL
WATER privatisation has certainly had its critics, but it has a new supporter in the shape of the European Commission. It has publicly backed the growing privatisation of Europe’s water utilities, with its internal market commissioner praising British government moves to inject competition into its national sector.…
WATER WARS
BY MARK ROWE
WARS are usually fought over coveted resources, such as oil, diamonds or fertile land. Now water, the most indispensable of mankind’s needs, is seen as the resource which may spark the armed conflicts of the 21st century.
Indeed, United Nations (UN) cultural and scientific organisation UNESCO is stepping up efforts to calm tension in some of the world’s most water-stressed areas.…
LEBANESE PROGRAMME
BY MONICA DOBIE
THE UNITED Nations Development Programme (UNDP) has announced it will give Lebanon a US$3.4 million grant to finance a new initiative aimed at boosting renewable energy generation, as well as increasing energy efficiency and environmental protection in this eastern Mediterranean country.…