Search Results for: World Trade Organisation

The huge offshore finance leak unveiled yesterday (October 3) by the International Consortium of Investigative Journalists (ICIJ) and its media partners has highlighted the pressures AML reporters face in complying with increasingly tough beneficial ownership transparency laws.

Reports generated from 2.94 terabytes of data within 12 million documents leaked to the ICIJ from the confidential records of 14 offshore service providers have been analysed by 600 journalists from 150 media outlets in 117 countries.…

The Bangladesh innerwear industry has been witnessing robust growth in the past decade and this outsourcing hub is now competing effectively with its major rival China. The production value of the country’s intimate wear jumped from US216 million in 2012 to US1.078 billion in 2021, according to a report from data service Statista (1).…

AS the European Union (EU) debates the proposed creation of a supra-national EU Anti-Money Laundering Authority (AMLA) and associated reforms to EU AML/CFT law, it must take privacy concerns into account, the European Data Protection Supervisor (EDPS) has argued.

In a comprehensive and detailed comment on the proposed new EU AML/CFT regulation and directive, the EDPS, an EU agency with powers to regulate the EU general data protection regulation, has said it supports these proposed laws’ embrace of the risk-based approach, which implies measures “as effective as possible and as less intrusive as possible”.…

As the global clothing industry is reviving from Covid=19 slump, Bangladesh apparel manufacturers are at last reaping the benefits, industry is also bearing the fruit. In an exclusive interview with Just Style, the new president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Faruque Hasan noted that the Bangladesh clothing industry suffered a reduction in its exports of USD6 billion from USD34.13 billion in financial year (FY – July-June) 2018-19 to USD27.95 billion in FY 2019-20 and a year-on-year drop of clothing exports worth nearly USD1.5 billion in financial year (FY) 2020-21 (July 2020 to June 2021) (1).…

The Turkish apparel sector is looking to build on its long-standing record as a major apparel producer for the American market, offering quality products at a swifter time-to-market than its key competitors in Asia, especially China.

Turkey’s apparel exports to the USA remain robust – at around USD1 billion-a-year according to Mehmet Kaya, a board member of the Istanbul Apparel Exporters Association (İstanbul Hazır Giyim ve Konfeksiyon İhracatçıları Birliği – İHKİB).…

Ethiopian textile and clothing managers and workers are worried that the USA may expel their county from the African Growth and Opportunity Act (AGOA) trade access, as armed conflict continues in Tigray.

The US Trade Representative Katherine Tai has said America would “soon” decide on Ethiopia’s status under AGOA, which gives its clothing and textile exporters duty-free access to the United States.…

The new chair of the International Accounting Standards Board (IASB) has said the body will consider reviewing its standard on intangibles, IAS 38. Following feedback from advisory groups and consultative bodies, Andreas Barckow said that IAS 38 is “more than 20 years old and has never been revisited other than for consequential changes resulting from other projects”.…

The Covid-19 coronavirus outbreak was declared a pandemic on March 11, 2020, by the World Health Organization (WHO) after it spread from Wuhan, China, across the globe. As yet, the world does not know for sure how and why the virus was released.…

One of the world-changing impacts of the Second World War was an understanding that unfettered competition between nation states was not just undesirable, but – if taken to its logical conclusion – would lead to war. Amidst the ruins of Europe, as an exhausted continent stumbled out of conflict, new thinking emerged, that economic links between neighboring countries be deliberately forged to create interdependence that would encourage cooperation to achieve wealth.…

One of the most important changes in geopolitics in the past 10 years has been the rise of China’s economic and military power, which has grown so much, its influence is now a serious rival to the hegemony of the United States.…