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.
NONWOVENS SECTOR IN MIDDLE EAST AND NORTH AFRICA STRUGGLES WITH OVERCAPACITY
THE NONWOVENS industry in the Middle East and North Africa (MENA) is still struggling with over-capacity, while declining purchasing power has hit the mid- and higher-tier segments, prompting global players to reconsider product offerings.
MENA economies have been impacted by low oil prices and regional instability, with growth forecast at 1.5% this year, down from 1.7% in 2018, according to investment bank JP Morgan.…
JAPAN AND SOUTH KOREA CONTINUE TO TIGHTEN AML/CFT CONTROLS, BUT WILL REFORM BE ENOUGH TO SATISFY FATF AND APG?
JAPAN and South Korea have many similarities in AML/CFT terms, being the only countries in north-east Asia with democratic, open societies, who also run their economies according to standard free market principles. They are also both developed industrial economies in which the rule of law is applied consistently and transparently.…
HIGH DEMAND FOR TRAINED AML PROFESSIONALS IS KEEPING PAY LEVELS HEALTHY
WITH anti-money laundering and combating the financing of terrorism (AML/CFT) controls becoming ever more comprehensive, strategic and widespread, the demand for trained AML/CFT professionals is growing. Salaries are increasing, as a result. This good compensation reflects the fact that AML work is becoming increasingly demanding because of regulatory requirements, said Michael Harris, director, financial crime compliance, at LexisNexis Risk Solutions.…
EUROPEAN COMMISSION FLAGS FURTHER INTEGRATION OF EU FIUS
THE EUROPEAN Commission has released a series of detailed policy papers signalling its plans to push for greater harmonisation of European Union (EU) AML/CFT policy and a closer integration of related operations. An overarching ‘communication’ (see https://ec.europa.eu/info/sites/info/files/communication_from_the_commission_to_the_european_parliament_towards_better_implementation_of_the_eus_anti-money_laundering_and_countering_the_financing_of_terrorism_framework.pdf) has outlined practical plans to boost harmonisation between EU financial intelligence units (FIU).…
MINERALS TRADERS OFFERED BETTER ACCESS TO SOUTH AMERICA AND EUROPE UNDER EU-MERCOSUR TRADE DEAL
A EUROPEAN Union (EU) trade deal struck with South America’s Mercosur group of Brazil, Argentina, Uruguay and Paraguay, should boost trade between the two blocs of industrial minerals. The agreement, which now needs to be ratified by both sides, will phase out all EU duties charged on industrial goods (including minerals and mineral items) over 10 years.…
JAPAN FINANCES NEW UN-LED GARMENT DESIGN PROJECT FOR PALESTINIAN TERRITORIES
Japan is financing a United Nations (UN)-led project to bolster employment and garment design in the West Bank of Palestine. The project was officially launched this month (July), with Japan’s ministry of economy, trade and industry (METI) providing USD446,428 for the United Nations Industrial Development Organization (UNIDO) to spend on promoting “employability for women and youth in the State of Palestine through supporting the garment and textile value chain”.…
AUSTRALIAN WOOL PRICES FALL, BUT INVESTMENT IN ADDITIONAL LOCAL PROCESSING UNLIKELY, SAYS INDUSTRY BOSS
THE TRADE war between the USA and China that has seen both sides impose a wide range of duties on each other’s exports has depressed Australian wool prices though a reduction in demand from key Chinese buyers.
Australian Council of Wool Exporters and Processors executive director Peter Morgan told just-style that the Washington-Beijing stand-off has come during other events depressing wool sales: “Events such as the US, China trade wars, US, India trade disputes, the US, Iran political tensions and the negative rhetoric during the recent G20 meeting” have been disruptive and this obviously “effect global economic confidence,” he said.…
AB INBEV BLOCKED FROM DELHI MARKET
AB InBev has been banned from selling beer in India’s capital New Delhi for three years as a penalty for alleged tax evasion. The brands affected by the order include Budweiser, Corona, Hoegaarden and Stella Artois, which cannot be sold from earlier this week.…
BRAZIL BEEF EXPORTS TO UAE BOOM
Brazilian beef exports to the United Arab Emirates (UAE) saw an increase of 439.84% year-on-year in the first half of 2019, according to figures issued by the Dubai-based Arab Brazilian Chamber of Commerce. Brazilian beef sales to all Arab countries were up 47.62%.…
NESTLÉ’s EMENA RESTRUCTURE IS PAYING DIVIDENDS, SAYS SETTEMBRI
GLOBAL food and beverage company Nestlé’s restructure in the EMENA (Europe, Middle East and North Africa) region, which began in 2017, has delivered improved efficiencies and performance, according to Marco Settembri, Nestlé’s executive vice-president and EMENA zone CEO.
“It’s always a question of evolution,” Mr Settembri told just-food before the opening session of the July 4-5 2nd European Entrepreneurship Education summit in Lille, northern France,* in which he was to speak.…