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Search Results for: european union

10 results out of 17508 results found for 'european union'.

EU ROUND UP - EU REFORMS VAT SYSTEM TO SQUEEZE OUT FRAUD, AS LATEST REPORTS INDICATE FIGHT AGAINST FINANCIAL CRIME IS STILL FLAILING



THE EUROPEAN Union (EU) Council of Ministers has reached political agreement on creating a new EU-wide e-commerce VAT transaction database, which EU member states hope will help fight fraud. The move comes as a European Commission report indicates that the EU’s expensive battle against fraud continues to struggle to achieve results.…

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ECB REVOKES AUSTRIAN BANK LICENCE OVER MONEY LAUNDERING



Money laundering and due diligence failings led the European Central Bank (ECB) to revoke the licence of one of Austria’s oldest financial institutions with immediate effect last week (on November 15). The Austrian Financial Market Authority (FMA – Finanzmarktaufsicht Österreich), which had recommended the move to the ECB, announced that the European Union (EU) institution had revoked the licence of Anglo Austrian AAB Bank AG, which was known as Bank Meinl until June. …

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AUSTRALIA DAIRY SECTOR FEARS IT WILL LOSE OUT FROM EU TRADE DEAL MANDATING GI PROTECTION



A free trade deal between Europe and Australia is in the making but European Union (EU) trade negotiators have managed to generate some serious concerns among Australian dairy industry in the process. The EU wants Australia to recognise the exclusive rights of EU cheesemakers to the traditional names of almost 60 different types of cheeses through Australia recognising EU geographical indications (GI) within any agreement.…

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ALSTOM FINED GBP15 MILLION FOR TUNISIAN TRAM CONTRACT BRIBES



The British subsidiary of French engineering giant Alstom has been fined GBP15 million (USD19.37 million) plus GBP1.4 million (USD1.8 million) costs over bribes it paid to win a key contract to build trams to serve the Tunisian capital Tunis. The fine comes more than a year after Alstom Network UK’s April 2018 conviction for bribery and corruption, in a case brought by the UK Serious Fraud Office (SFO). …

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ITALIAN CHEESE CAUGHT IN AIRBUS-BOEING DISPUTE CROSSFIRE



RETALIATORY duties imposed by the USA in a trade dispute with the European Union (EU) over aeroplane subsidies will, argues Italian farmers union, Coldiretti, shrink Italian food exports to the US by 20%, with the Italian speciality cheese sector being the hardest hit.…

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POWER PURCHASE AGREEMENTS INCREASE GREEN ENERGY CONSUMPTION AND INVESTMENT WORLDWIDE



As national, regional and international legislation nudges the world away from its reliance on fossil fuels, corporations are increasingly sourcing renewable energy through the mechanism of green power purchase agreements (PPAs), whereby companies (and also utilities) act as an off-taker, making commitments for future renewable energy payments.…

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NEW EU COMMISSION FACES MAJOR ANTI-FRAUD CHALLENGE



With a new European Commission about to take office (probably on December 1, one month late, with three proposed nominees being rejected by MEPs), one key challenge will be pushing fraud out of the European Union (EU). It is still a huge problem, with in 2018, 1,152 frauds detected and reported.…

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IRELAND FARMERS SHOULD PREPARE CONTINGENCIES FOR UPCOMING CAP REFORM SAY IRISH AGRICULTURAL ACCOUNTANTS



IRISH farming accountants will not only be monitoring Brexit as a current important European Union (EU) policy change, they will be scrutinising potential reforms to the EU Common Agricultural Policy (CAP), now under discussion for remaining member states, like Ireland. They will be advising their agricultural clients to be prepared for potential shifts in CAP subsidies.…

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EU SIGNALS CLAMP DOWN ON FUTURE FOSSIL FUEL DEVELOPMENT PROJECTS



THE EUROPEAN Union (EU) Council of Ministers has signalled that it is prepared to clamp down on EU funding of oil and gas projects, as it considers how to achieve anticipated new ambitious climate change goals.

In a joint policy statement released earlier this month (November 8), EU ministers said multilateral development banks should “adopt responsible investment policies and to phase out financing of fossil fuel projects, in particular those using solid fossil fuels…” The declaration is important, given EU member states control the European Investment Bank (EIB), which has sunk EUR202 billion into energy projects since it was founded in 1959, many of which involved developing the oil and gas sector.…

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TECHNOLOGY COULD BE THE SOLUTION FOR PUSHING ML&TF OUT OF VIRTUAL CURRENCIES, SAY EXPERTS



Robust international enforcement of revised AML guidance will improve current weaknesses in cryptocurrency compliance, according to financial services analysts.

Current figures indicate about 3,000 separate cryptocurrencies being traded with a value of USD221 billion, according to Yahoo Finance on October 8.

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