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Search Results for: saudi arabia

10 results out of 378 results found for 'saudi arabia'.

QUALIFIED GULF WOMEN NEED TO PUSH THEMSELVES FORWARD FOR SENIOR FINANCE POSITIONS – ACCA CONFERENCE TOLD



Women in the Gulf region need to put themselves forward and show the skills they can contribute to organisations if they want to be considered for more senior positions, participants of a recent event hosted by the Association of Chartered Certified Accountants (ACCA) have said.…

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EU PLANS BLACKLISTING OF AMERICAN TERRITORIES OVER AML/CFT FAILURES



THE EUROPEAN Commission has included four American external territories – Puerto Rico, the US Virgin Islands, Guam and American Samoa – on a proposed blacklist of weak AML/CFT jurisdictions released today (Feb 13).

Brussels’ updated list includes 12 countries that are viewed with concern by the Financial Action Task Force (FATF) – the Bahamas, Botswana, North Korea, Ethiopia, Ghana, Iran, Pakistan, Sri Lanka, Syria, Trinidad & Tobago, Tunisia and Yemen. …

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MAJOR BAHRAIN SHALE OIL AND GAS FIND COULD CREATE MAJOR DEMAND FOR FRACKING MINERALS



WITH Bahrain investigating its first major oil find in 86 years, the mineral sector will be keeping a close eye on exploration because this is an offshore shale oil and gas resource that will need fracking inputs to extract hydrocarbons.

“It is definitely very unique, a one of a kind oil find in shallower waters close to shore,” said Edgar van der Meer, senior research analyst at NRG Expert, in London.…

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PETROFAC EXECUTIVE PLEADS GUILTY OVER MIDDLE EAST BRIBES



The former global head of sales for Jersey-based oilfield services company Petrofac International Ltd pleaded guilty February 6 to UK Bribery Act violations related to over USD50 million in bribes to agents to gain engineering, procurement and construction contracts in Iraq and Saudi Arabia. …

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BAHRAIN’S UNIQUE OFFSHORE SHALE FIND COULD DEVELOP NEW EXTRACTION TECHNOLOGY



BAHRAIN’S first oil find since 1932 is of major economic significance to the small Gulf state, which has been less reliant on hydrocarbons than its oil and gas rich Gulf neighbours. But it is also of global significance, being a unique, conventional-unconventional offshore shale find in shallow waters.…

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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.…

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CARBON CAPTURE AND STORAGE SECTOR MATURES – BUT IT IS FAR FROM STOPPING CLIMATE CHANGE



A TECHNOLOGY entwined with fossil fuels that, by the of 2018, boasted 43 large-scale facilities, (18 in commercial operation, five in construction and 20 in development), and which processed almost 40 million tonnes per annum (mtpa) of CO2, is clearly more than a passing fad.…

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LICIT ARMS TRADE LIGHTLY REGULATED BY AML RULES, DESPITE CONCERNS OVER UNETHICAL PRACTICES



The conventional arms trade has a reputation for using side payment sweeteners to secure multi-million dollar deals. But despite allegations of corruption in numerous jurisdictions, the legitimate arms trade is not on the Financial Action Task Force’s (FATF) radar. Should it be?…

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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.…

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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.…

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