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.
ASIAN PAINT REGULATORY ROUND UP - INDINESIA NEW CAPITAL PROJECT GATHERS STEAM WITH MAJOR PAINT AND COATINGS SALES POTENTIAL
TURKEY’S GARMENT AND TEXTILE SECTOR BATTERED BY THE DEVASTATING EARTHQUAKE
Turkey’s textile and clothing sector is grappling with the fact that around a third of the country’s garment and textile production capacity was clustered around the epicentre of the 7.8 magnitude earthquake that has killed more than 47,000 people, left millions homeless and destroyed hundreds of thousands of buildings.…
EU ACTION ESSENTIAL TO KEEP TEXTILE COMPANIES COMPETITIVE IN ENERGY CRISIS, SAY EXPERTS
THE EUROPEAN Union (EU) textile industry needs ambitious investment and a strong state aid subsidy plan to survive rising energy costs, enabling them to continue operating efficiently in global markets, European textile experts have told WTiN.
“Since last summer, the EU textiles sector has been faced with sky-high gas and energy prices and this puts further pressure on an already strained supply chain,” the European apparel and textile confederation (Euratex) senior policy officer for trade and industry Paolo Sandri noted.…
BMW EV INVESTMENT LATEST SIGNAL THAT MEXICO WILL BECOME ELECTRIC VEHICLE EXPORT HUB
The USD865 million investment announced by BMW into boosting its electric vehicle (EV) manufacturing capacity in Mexico is, say industry experts, a signal of how Mexican automotive capacity may be oriented increasingly intensely on the American market.
Germany’s BMW will spend this money over the next four years to enable production of the ‘Neue Klasse’ electric vehicle range in Mexico starting 2027.…
FIRST GLOBAL SUSTAINABILITY STANDARDS APPROVED – WITH SPECIAL AUTO SECTOR GUIDANCE
International automobile manufacturers, including those based in the USA, have been presented with the first global sustainability reporting standards designed to become compulsory in many countries worldwide from January 1, 2024. They may also apply to foreign companies operating in the USA and overseas branches of US-owned companies such as Ford and GM, depending on a looming decision made from the Securities & Exchange Commission, expected in April (2023).…
SAN MARINO CONTINUES PUSH TO SHED REPUTATION AS HIDING HOLE FOR ITALIAN DIRTY CASH
Once a stronghold of banking secrecy and a haven for undeclared cash-carrying Italians making deposits in a local micro-state, the Republic of San Marino, the world’s oldest republic (founded in the year 301CE), has been working to repair its AML/CFT reputation.…
UK AND USA IMPOSE WIDE NEW SANCTIONS ON RUSSIA – MARKING ONE YEAR OF UKRAINE INVASION
THE UK government has marked the anniversary of Russia’s unprovoked invasion of Ukraine by announcing a wide-ranging export ban it says will cover “every item Ukraine has found Russia using on the battlefield to date”. While London has yet to release the formal list of such products, Foreign Secretary James Cleverly said the widened ban “included…hundreds of goods are aircraft parts, radio equipment, and electronic components that can be used by the Russian military industrial complex, including in the production of UAVs [drones].”…
LIECHTENSTEIN TARGETS VASP ECONOMY AND IS EARLY MOVER ON VIRTUAL ASSET/CURRENCY AML RULES
The Alpine principality of Liechtenstein may be small, but it has passed groundbreaking legislation designed to expand its significant financial sector into the world of virtual currencies and assets (VA). The move has prompted concern from European FATF-style regional body Moneyval, whose latest mutual evaluation report (MER) on the 160 square kilometre and 38,250 population country was released last May (2022) (1).…
OPENLUX REVELATIONS PROMPT LUXEMBOURG REFORMS
Luxembourg’s strength as a financial sector has brought the world’s only sovereign grand duchy great wealth (USD133,000 per head in 2021, said the World Bank), but it has also generated scrutiny on how it monitors investors, companies and bank depositors for AML exposure.…
EU TARGETS RUSSIAN DEFENCE INDUSTRY IN INVASION ANNIVERSARY SANCTIONS PACKAGE
The European Union (EU) has now (one day late – on February 25) issued its own new sanctions package upon the first anniversary of Russia invasion of Ukraine, targeting senior figures within the Wagner Group of mercenaries that has bolstered Russia’s military attacks.…