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.
EUROPEAN UNION ACCOUNTANTS FACE NEW DETAILED DEMANDS ON HOW THEY FIGHT MONEY LAUNDERING
Accountants in the European Union (EU) are considering how to manage a more intrusive and proactive legal system fighting money laundering (ML) and terrorist finance (TF) proposed within the new package of AML/CFT reforms proposed by the European Commission last July (2021).…
BANGLADESH LOOKS TO LEVERAGE KNITWEAR STRENGHS BY TARGETING GLOBAL SWEATER MARKETS
The Bangladesh knitwear industry is looking to boost its exports of sweaters, competing with Chinese suppliers hampered by their government’s continuing tough lockdown responses to further outbreaks of Covid-19. Meanwhile, US tariffs imposed during the trade war launched by former American President Donald Trump persist, giving Bangladesh sweater exporters a continuing price advantage, augmenting its lower labour costs.…
NEW TALIBAN REGIME IN AFGHANISTAN PROMPTS MAJOR AML/CFT CONCERN
Since the Taliban’s takeover last August (2021), Afghanistan’s AML/CFT regime has effectively been put on pause, while the country’s money laundering and terrorist financing risks mount amid international isolation.
The website of Afghanistan’s financial intelligence unit (FIU) is no longer active online.…
CAMBODIA’S GARMENT SECTOR STRATEGY AIMS TO MAKE EXPORTS MORE COMPETITIVE
The Cambodian government has now launched a long-awaited five-year development plan to shape the future of the country’s garment, footwear and travel goods sector by boosting productivity and reducing tariffs on businesses, but industry commentators say its proposed reforms are still at an early stage.…
PROFILE OF PAKISTAN CLOTHING AND TEXTILE INDUSTRY
Pakistan textile and clothing industry has witnessed many advances and retreats during the last 10 years. With the country operating a less draconian set of lockdowns than neighbouring countries in south Asia, it has leveraged recent investment by increasing clothing and textile exports.…
UK COURT CONVICTS OVER COCA-COLA CONTACTING BRIBES
A former UK-based Coca-Cola Enterprises manager has been convicted of accepting over GBP1.5 million (USD1.96 million) in bribes between January 2004 and August 2013 in return for leaking confidential and sensitive information to potential electrical and engineering contractors. They were the Boulting Group (now WABGS Ltd), as well as Tritec Systems and Electron Systems – both part of the Tritec Group – giving them the edge over rivals in bidding for contracts.…
UK MPS ACCUSE SFO HEAD OF SERIOUS AND BASIC ERRORS ON UNAOIL
A British parliamentary committee gave the director of the UK Serious Fraud Office (SFO), Lisa Osofsky, a roasting March 29 just days after the Court of Appeal quashed a second conviction in the Unaoil bribery case. Former company executive Paul Bond had challenged his March 2021 conviction after a December 10 ruling overturned that of his former colleague Ziad Akle.…
MALAYSIAN BANKER FOUND GUILTY OF US FINANCIAL CRIMES OVER 1MDB SCANDAL
Former Goldman Sachs managing director Roger Ng has been found guilty of bribery and corruption for his role in the 1Malaysia Development Berhad (1MDB) Malaysian sovereign wealth fund scandal. Malaysian national Ng was convicted at a New York federal court in the USA.…
RUSSIA’S INVASION OF UKRAINE HIGHLIGHTS STRATEGIC VALUE OF NEW FINLAND NUCLEAR POWER PLANT
Its launch may be more than a decade late, but the European Union’s (EU) first European Pressurised water Reactor (EPR) has finally started producing electricity for the Finnish national grid. Its strategic importance to Finland, as the country is preparing for NATO membership following Russia’s invasion of Ukraine is hard to overstate.…
RUSSIAN INVASION WILL CAUSE LASTING DAMAGE TO UKRAINE AND RUSSIA’S KNITTING INDUSTRY, SAY EXPERTS
RUSSIA’s invasion of Ukraine will damage European Union (EU)-Russia trade in clothing including knitwear, but Russia will continue to make woolen clothes, say experts. Meanwhile, the war launched by Russian President Vladimir Putin is devastating Ukraine’s knitwear production and retail sector.…