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Search Results for: Libya

10 results out of 111 results found for 'Libya'.

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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EU BEEF, SHEEP AND GOAT MEAT EXPORTS FALLING FAST, SAYS EUROPEAN COMMISSION

THE OUTLOOK for European Union (EU) beef, sheep and goat meat imports looks bleak, with sales tumbling, according to an EU agricultural markets 2018 and 2019 forecast released by the European Commission.

Beef exports started falling by December 2017, and this has continued into this year, with exports almost 15% lower in the first four months of 2018 year-on-year.…

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KEY NORTH AFRICA PAINT MARKETS STABILISE AFTER YEARS OF INSTABILITY

NORTH Africa is never an easy market in which to do business, and the Arab Spring and its turbulent aftermath has not helped ease trade, but as the paint industry looks to 2018, there is optimism that profits can be made.…

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DEFERRED PROSECUTION AGREEMENTS GROW IN IMPORTANCE IN AML SECTOR

DEFERRED Prosecution Agreements (DPAs), that allow companies and individuals that admit to wrongdoing and cooperate with investigators and avoid prosecution, are becoming increasingly common worldwide, including for money laundering offences. The systems are particularly useful sticks to force erring financial and other corporate institutions to improve their anti-money laundering and combating the financing of terrorism systems (AML/CFT), with prosecuting agencies deferring criminal cases on condition of sustained AML/CFT reforms.…

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STANDARD CHARTERED FACES SINGAPORE FINE OVER ACCOUNT TRANSFER SCREENING FAILURES

STANDARD Chartered Bank has been hit by another enforcement action over past anti-money laundering (AML) failures, with the Monetary Authority of Singapore (MAS) announcing today (March 19) that it was fining local subsidiaries Singapore dollars SGD6.54 million (USD4.85 million). The fines break down to SGD5.2 million on the Standard Chartered Bank, Singapore Branch (SCBS) and SGD1.2 million on Standard Chartered Trust (Singapore) Ltd (SCTS).…

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WAVE OF PROTECTIONISM WARPS COSMETICS TRADE IN NORTH AFRICA

PROTECTIONISM and currency problems are posing challenges for north Africa’s beauty and personal care market, often forcing consumers to change their purchasing behaviour and turn to locally manufactured products, when they are available.

In Egypt, the region’s most populous country, the fall in value of the local currency, the Egyptian pound, against the Euro, has helped increase the price of imported products.…

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QATAR STAND OFF HIGHLIGHTS GULF FAILINGS OVER COUNTER-TERROR FINANCE CONTROLS

THE FIVE month-long diplomatic and commercial dispute between Qatar and the so-called ‘anti-terror quartet – ATQ’ of Saudi Arabia, the Saudi Arabia, Bahrain, the United Arab Emirates (UAE) and Egypt) continues and revolves around Doha’s alleged financial support for terrorist groups.…

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PAKISTAN TEXTILE CITY IS DOOMED – PARLIAMENTARY COMMITTEE TOLD

In a move that will disappoint many textile manufacturers and exporters, the government of Pakistan has decided to abandon its plans to build a Pakistan Textile City near Karachi.
A senior government official at Pakistan’s ministry of textile industry confirmed to just-style that the federal cabinet’s economic coordination committee had approved winding up a Pakistan Textile City Ltd (PTCL), a special purpose vehicle for the project, after clearing the company’s liabilities and transferring its land to the Port Qasim Authority (PQA).…

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ITALY PUSHES AHEAD WITH LNG INVESTMENTS, EVEN IF ENI’S MOZAMBIQUE GAS SELLS TO OTHER MARKETS

Italian state-controlled oil and gas producer ENI has cemented its role as a major gas player in Mozambique, after further defining in 2017 the scope of its Coral FLNG (floating liquified natural gas) project in this southern African country. However, doubts are emerging that ENI will actually deliver significant volumes of Mozambique’s huge gas reserves to Italy, and consequentially the rest of Europe, as an alternative and more secure source of natural gas.…

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EGYPT’S PAINT AND COATINGS SECTOR MAKES BUMPY PROGRESS, BUT THE FUTURE LOOKS BRIGHT

THE PAINT and coatings sector in Egypt is growing, but its progress has been unsteady, reflecting its bumpy political progress since its 2011 revolution that brought down long-standing President Hosni Mubarak. While a construction boom dominated by huge public private partnerships (PPPs) is driving up sales of decorative paint, according to industry analysts, a weak automotive sector is holding back overall growth with slow sales of refinishing paint.…

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