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Search Results for: International business

10 results out of 10932 results found for 'International business'.

JAPAN’S NASCENT HALAL FOOD SECTOR STRUGGLES TO KEEP AFLOAT THROUGH COVID-19 PANDEMIC, BUT EYES SUSTAINABLE FUTURE



Japan may become a significant market for the halal food sector in future, predicts the Japan Halal Association, whose members are looking ahead to sustained growth once the Covid-19 pandemic ebbs. Faslin Mohammed Lafir, head of halal certification and international relations, of the Japan Halal Association, stressed that the country’s Muslim population is around 120,000 individuals at present, with an estimated 10,000 Japanese converting to the religion every year, boosting potential halal sales.…

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THE POTENTIAL OF ITALY’S HALAL FOOD MARKET EMERGING POST-PANDEMIC



When France’s fast-food chain O’Tacos (www.o-tacos.fr) announced in 2020 that it would be selling in Italy its halal-certified French-style meat and vegetable wraps, Italian Muslims took this as a sign that halal was going mainstream in their country. O’Tacos’ first Italian outpost will open in January 2022 in Rome (delayed by Covid-19) and more openings in 2022 are planned in major Italian cities, including Milan and Bologna, said Yassin Baradai, founder of Milan-based Meem Communication (https://meemcommunication.com/

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HALOODIES SET TO RECOVER FROM THE PANDEMIC WITH GLOBAL EXPANSION PLANS



London-based Haloodies (https://haloodies.com/), which claims to be “one of the UK’s most trusted suppliers of Halal meats”, has fought against challenges posted by the Covid-19 outbreak and Brexit though expanding its online sales and reshoring production to Britain. Now, its co-founder and CEO says the company is ready to tap global markets.…

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SOUTH AFRICAN PAINT SECTOR LOOKS TO INNOVATION AS IT FIGHTS OFF IMPACT OF COVID-19 AND DEVASTATING RIOTS



The annual value of South Africa’s paints and coatings market will nudge USD2.1 billion (South African Rand ZAR33.3 billion) by 2026 after growing at a compound annual growth rate (CAGR) of 5.6% between 2021 and 2026.

These predictions from market researcher IndustryARC came in May (2021) as the industry battled the continued impact of the global Covid-19 pandemic.…

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MALAYSIA LEADS IN THE STANDARDIZATION OF HALAL MEDICAL DEVICES



Malaysia is expected to launch in January a detailed (although voluntary) halal certification for medical devices in an innovative regulatory move, making the country a world leader in this segment.

Its government published a halal medical device standard in September 2019, known as MS2636, but the halal division of the Malaysian Islamic Development Department (JAKIM) agency has since been enhancing “their online system” and staff, since the new “scheme for halal medical devices must comply with other requirements”, Johari Ab Latiff, senior assistant director at JAKIM’s Malaysia Halal Council Secretariat, told Salaam Gateway.…

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FIGHTING FRAUD IN THE HALAL FOOD INDUSTRY



Fraud in the global halal food sector is emerging as a widespread problem. A series of scandals have rocked the industry worldwide, and shone a spotlight on the difficulty of eliminating non-halal practices from increasingly large and complicated food supply chains. …

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NATWEST FINED GBP 264 MILLION OVER BREACHING UK AML LAWS BY HANDLING MUSTY BANK NOTES IN RUBBISH SACKS



Britain’s largest retail bank has been fined GBP264.7 million (USD350 million) for breaking UK AML laws through handling GBP365 million from a jeweller, suspected of being a major money launderer. (1)

NatWest staff were shown by the case at Southwark Crown Court to have ignored red flags that former Bradford, Yorkshire, jewellers, Fowler Oldfield, was processing millions of pounds of illicit cash.…

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UNIVERSITIES ARE MAGNET FOR INTERNATIONAL MONEY LAUNDERING – SPECIAL REPORT



Higher education institutions are being warned they could be a target for money laundering, with fees being financed by the proceeds of crime, including corruption, which might also buy property, cars and other items for students.

The problem has been highlighted in a series of reports.…

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FORMER UNDERCOVER DEA INVESTIGATOR SAYS CULTURE SHIFTS ARE NEEDED TO PROMOTE LONG-TERM PROBES ON ML PROS



A former DEA agent who laundered money undercover to attack the Medellín and Cali cartels has called for a root-and-branch reform of AML, so that its vast resources target the most suspicious transactions and the professional launderers who facilitate them. Speaking to MLB, Robert Mazur, who offered ML services to drug kingpins such as Pablo Escobar in the 1980s and 1990s to undermine their criminal networks, said that many laundering techniques used then are still in use today.…

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HSBC FINED GBP63.9 MILLION FOR EIGHT YEARS OF AML FAILURES, INCLUDING FOLLOWING MEXICAN DRUG CARTEL BUST



THE UK’S Financial Conduct Authority (FCA) has fined HSBC GBP63.9 million (USD84.7 million) for maintaining weak and ineffective suspicious transaction monitoring systems for six years after being fined USD1.9 billion in 2012 for helping launder Mexican drug cartel proceeds.

Following this major fine from the US department of justice, the FCA concluded that the HSBC continued to operate a faulty automatic transaction monitoring system across its global operations.…

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