Archive
International News Services archives articles supplied to clients one year or more after initial publication. These articles are protected by a password and not made available to readers without permission from clients. They are used as a background resource by agency journalists. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.
FINANCIAL CRIME IS MAJOR RISK FOR TEXTILE AND CLOTHING SECTOR – GAINING INSIGHT CAN HEAD OFF MAJOR LOSSES
INTRODUCTION
Financial crime is a minefield for the international textile and clothing industry. With extended international supply chains extending into jurisdictions where the rule of law and a reliable independent judiciary may have a weak hold, if they exist at all, textile and clothing brands and manufacturers must take care.…
CLOTHING AND TEXTILE SUPPLY CHAIN DIGITISATION – DEEP DIVE
INTRODUCTION
Without doubt, the world’s clothing and textile sector is undertaking a technical upgrade that is unprecedented in decades, with new digital systems offering automation and efficient internal controls. As these are worked into the businesses of brands, manufacturers and their suppliers, a new potential emerges, and that is linking these digital systems in a way that could revolutionise efficiencies within the supply chain.…
KENYA’S PAINT SECTOR FIGHTS OF COVID-19 AND SCANS GROWING MARKET FOR OPPORTUNITIES
Demand for paints and coatings in Kenya is set to recover this year from the impact of Covid-19 epidemic, being driven by the rebound of building construction and other civil engineering works that require use of paints, the Kenya National Bureau of Statistics has predicted.…
HOME TEXTILE MANUFACTURING CHARTING NEW PATHS WITH ALL-OUT DIGITISATION
The home textile sector is a strong growth segment for digital investments within the industry and the amount of innovation indicates this expansion has some way to go. There are good reasons why this segment is well suited to digitalisation. One is the rectangular form of most bed sheets, curtains and tablecloths – which aids fully automated cutting and sewing.…
CIVIL AVIATION SECTOR PUSHES AHEAD WITH SUSTAINABLE FUEL GROWTH
Aviation has always been regarded as a tougher sector to convert to low carbon fuels than road transport, because of the high intensity burn required to power planes – which traditionally been supplied by fossil-based kerosene. And a lot is burned.…
UNITED STATES EDIBLE OILS SECTOR FACES MAJOR SHAKE-UP THROUGH RENEWABLE DIESEL
An anticipated surge in supply and demand for renewable diesel, fuel that is chemically identical to its fossil fuel predecessor, is likely to cause major disruption to the American vegetable oil market and industry, notably soy.
With the US government and certain states regarding renewable diesel as a swift way to further reduce carbon emissions and meet Paris agreement climate change targets, the prospects for major additional purchases of soybeans within the American domestic market are very real.…
EUROPEAN COURT EXTENDS PROTECTION OFFERED TO PROTECTED TRADITIONAL DRINKS NAMES IN THE EU
The European Court of Justice (ECJ) has broadened the potential impact from European Union (EU) protected designations of origin (PDOs) by ruling national courts can decide they have been breached if a trading name “evokes” an association with a protected drink (or food).…
MALTESE NOTARY HIT WITH HEAVY FINE AS FIU CONTINUES CRACKDOWN OF AML FAILURES
A MALTESE notary has become the latest victim of increased zeal in Malta by regulators to punish breaches of this European Union (EU) member state’s AML/CFT legislation.
Dr Roderick Caruana has been fined EUR61,573 by the Malta Financial Intelligence Analysis Unit (FIAU) and ordered to demonstrate future compliance with Maltese AML/CFT laws, or further punishments will follow.…
RESEARCHERS VALUE ML BY PREDICATE OFFENCE – BUT DATA IS JUST ONE FACED OF RISK-BASED APPROACH
While the estimation of sources of laundered money is made imprecise by its inherent covert nature, the United Nations Office on Drugs & Crime (UNODC) has estimated that the amount of criminal proceeds processed annually is 2%-5% of global GDP, or USD800 billion to USD2 trillion.…
NFTs POSE SIMILAR MONEY LAUNDERING RISKS TO ART
There is much about the world of blockchain and cryptocurrencies that may seem obscure to the uninitiated, but the recent growth in the market for non-fungible tokens (NFTs) in particular has perplexed many onlookers: Why, for example, would anyone spend USD69 million on a jpeg collage featuring, among other artworks, an image of Tom Hanks beating up an anthropomorphic coronavirus?…