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Search Results for: Swiss

10 results out of 397 results found for 'Swiss'.

MIDDLE EAST PAINT MARKET SUFFERS AS GULF ECONOMIC WEAKNESS AND LEVANT CONFLICT RESTRICTS SALES



 

Time was that the Gulf was a hotspot for paint and coatings sales and production, with frothy demand fuelled by major building projects – most met by locally manufactured product. But today, demand for paint in the Gulf countries is sluggish due to low oil prices, depressing overall economies and a drop in the number of infrastructure and real estate projects under construction.…

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ALSTOM FINED GBP15 MILLION FOR TUNISIAN TRAM CONTRACT BRIBES



The British subsidiary of French engineering giant Alstom has been fined GBP15 million (USD19.37 million) plus GBP1.4 million (USD1.8 million) costs over bribes it paid to win a key contract to build trams to serve the Tunisian capital Tunis. The fine comes more than a year after Alstom Network UK’s April 2018 conviction for bribery and corruption, in a case brought by the UK Serious Fraud Office (SFO). …

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POWER PURCHASE AGREEMENTS INCREASE GREEN ENERGY CONSUMPTION AND INVESTMENT WORLDWIDE



As national, regional and international legislation nudges the world away from its reliance on fossil fuels, corporations are increasingly sourcing renewable energy through the mechanism of green power purchase agreements (PPAs), whereby companies (and also utilities) act as an off-taker, making commitments for future renewable energy payments.…

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TECHNOLOGY COULD BE THE SOLUTION FOR PUSHING ML&TF OUT OF VIRTUAL CURRENCIES, SAY EXPERTS



Robust international enforcement of revised AML guidance will improve current weaknesses in cryptocurrency compliance, according to financial services analysts.

Current figures indicate about 3,000 separate cryptocurrencies being traded with a value of USD221 billion, according to Yahoo Finance on October 8.

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COMPANIES SHOULD CAREFULLY AND CONTINUOUSLY ASSESS OFFSHORE TAX POLICIES TO PROTECT REPUTATIONS – SAY EXPERTS



COMPANIES using offshore tax jurisdictions need to assess whether their strategies can be branded unethical, as well as illegal, causing them reputational as well as financial damage. They need to assess whether the risk is worth taking. Poorna Rodrigo reports.

 

The series of data dumps, such as the Panama Papers, and the recent Mauritius Leaks have continued to tarnish the reputation of offshore tax havens, but experts stress that properly used, a positive case can be made for offshore tax policies.…

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USA LEADS CUTTING EDGE MILITARY FABRIC RESEARCH THAT TRIES TO ANTICIPATE FUTURE THREATS



MILITARIES try to outsmart the enemy, and researchers tasked with producing textiles to aid effective missions are often told to create materials that could defeat imagined as-yet unconfirmed threats.

“Intelligence shares what threats might look like and we look to address them before anything happens,” said Richard M Arndt, public affairs officer with the US Army Combat Capabilities Development Command (CCDC) Chemical Biological Center, based in Maryland.…

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ELECTRIFICATION OF SHIPS A KEY STEP IN DELIVERING PARIS CLIMATE COMMITMENTS



Described by environmental campaigners as “the elephant in the COP21 negotiations room” when climate change proposals were agreed in Paris during 2015, today – the electrification of shipping is moving ahead apace.

From inland ferries to cargo barges and cruise ships, vessels are being built or retrofitted with renewable power propulsion sources, curbing the shipping industry’s major emissions.…

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SWITZERLAND RAISES AML/CFT GAME AS 1MDB SCANDAL CONTINUES TO HARM ITS BANKS



In April (2019), Switzerland’s highest court (the federal tribunal) ordered that Zurich-based Falcon Private Bank hand over Swiss Francs CHF2.5 million (USD2.5 million to Switzerland’s Financial Market Supervisory Authority (FINMA) for its involvement in the global money laundering (ML) scandal involving state-owned Malaysian investment fund, 1Malaysia Development Bhd (1MDB).…

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ITALIAN INVESTIGATORS BUST INTERNATIONAL TAX EVASION AND LAUNDERING RING INVOLVING F1 SPONSORSHIPS



Just four months before Italy’s much-anticipated Formula One (F1) Grand Prix was set to roar through the Monza racetrack on September 6-8, (2019), a major arrest involving money laundering within FI was made in Dubai. Luigi Provini was handcuffed in the United Arab Emirates (UAE) emirate and placed on a direct flight to Rome, for questioning by Italy’s Financial Police (Guardia di Finanza – GdF).…

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EU ROUND UP – EUROPEAN COMMISSION RELEASES NEW ANTI-FRAUD STRATEGY



FACED with continuing high levels of fraud attacking European Union (EU) institutions, the European Commission has released its first update of its overall anti-fraud strategy since 2011. The need for a refresh is borne out by crime data: in 2017, EUR467.1 was lost to fraud affecting EU spending and revenue generating programmes.…

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