Search Results for: UAE
10 results out of 392 results found for 'UAE'.
FINCEN SHOWS HOW IRAN FINDS MID EAST MILITANT ALLIES
USA FIU the Financial Crimes Enforcement Network (FinCEN) has released detailed guidance on how Iran funds Middle East allies labelled as terror groups by Washington, such as Hamas, Hezbollah, Palestinian Islamic Jihad, Yemen’s Houthis and militias in Iraq and Syria.
Stressing that the Iranian government funnels funding through the Islamic Revolutionary Guard Corps (IRGC), FinCEN said revenues are generated by sales of commodities, especially oil, to countries eschewing western sanctions against Iran, such as China, which bought 1.3 million barrels a day during 2023.…
ZIMBABWE’S ANTI-MONEY LAUNDERING REGIME ROBUST BUT INEFFECTIVE – FIU DIRECTOR ADMITS A YEAR AFTER GOLD MAFIA EXPOSE’
As the country reels from an alleged gold smuggling scandal, Zimbabwe’s AML/CFT performance has shown how technical compliance with FATF rules is not enough, its Financial Intelligence Unit (FIU) director general has told MLB: “It is one thing to have a compliant legal framework and it is another thing to make sure the regime is being used effectively to fight money laundering,” Oliver Chiperesa told MLB.…
AI IS BECOMING THE WORLD’S GREATEST LEARNING ACCELERATOR, EXPERTS SAY
Artificial Intelligence (AI) has the potential to deliver higher education to students where they are geographically, supplying the most suitable type of learning, this year’s ASU+GSV Summit (Arizona State University/ Global Silicon Valley venture capitalist firm) was told.
Speaking in San Diego, USA, on Tuesday (April 16), Lev Gonick, ASU chief information officer, said AI is one of HE’s “enormous accelerators for the ability to learn both individually and to reorganise our institutions and organisations to accomplish that”.…
EUROPEAN PARLIAMENT BLOCKS MOVE TO REMOVE UAE, GIBRALTAR AND PANAMA FROM EU AML BLACKLIST
The European Parliament has pushed the European Commission into a politically awkward position by refusing to follow FATF’s lead in removing the United Arab Emirates (UAE), Gibraltar and Panama from the European Union (EU) AML blacklist. MEPs yesterday (Tuesday April 23) voted to block a Commission delegated act stating these jurisdictions were no longer considered ‘high-risk third countries’ as regards AML.…
GERMAN DYE AND TEXTILE CHEMICAL COMPANIES AT RISK FROM RED SEA CRISIS, BUT INNOVATION CONTINUES, SAY EXPERTS
Attacks on commercial shipping in the Red Sea by the Houthi Islamic militant group from Yemen are creating significant concerns for the European chemical industry, including makers of dyes and textile finishing chemicals in Germany.
Over the past two months, trade volumes through the Suez Canal have dropped by 42%, according to the United Nations Conference on Trade and Development (UNCTAD).…
PERU TEXTILE AND CLOTHING SECTOR EYES 2024 REBOUND AS PAST POLITICAL CHAOS SUBSIDES
Emerging from past political unrest and economic downturns, Peru’s clothing and textile industry hopes for a strong 2024, leveraging ecological and technical innovations and a growing international presence through fairs and new commercial alliances.
“The industry has had a hard 2023; it has received a strong hit…” said Carlos Penny-Bidegaray, president of the textile committee at the Peruvian Exports Association (ADEX – Asociación de Exportadores).…
INTERNATIONAL REGULATORY ROUND UP – UKRAINE ROW PITS EUROPEAN SUGAR USERS AGAINST SUPPLIERS
The European Association of Sugar Manufacturers (CEFS) have joined with five other European food industry associations to press the European Union (EU) to protect the EU sugar and honey industries against large import flows from Ukraine. Because of Russia’s invasion, Ukraine’s ability to service traditional markets has been impeded – with significant amounts of product entering the EU instead.…
RED SEA/SUEZ CRISIS HITS INTERNATIONAL SHIPPING COSTS FOR TEXTILES AND FIBRE
Disruptions to shipping through the Red Sea is having a negative impact on the international textile supply chain, driving up transportation costs and lead times. However, unless the crisis continues for significantly longer, a geographical shift in textile production is unlikely to happen, experts predict.…
UAE DEMAND FOR ECO-FRIENDLY PAINT AND COATINGS RISES AMIDST COMMERCIAL CONSTRUCTION UPSWINGS
The United Arab Emirates’ (UAE) spending push on mega construction projects is generating strong demand for paints and coatings in this key Gulf region economy.
This includes developments such as ‘Dubai South’, which will house the world’s largest airport, Al Maktoum International Airport.…
FENTANYL AND WAR SHAKE UP USA’S AML/CFT/CPF RISK ASSESSMENT
The scourge of the fentanyl trade and heightened international tensions caused by Russia’s ongoing invasion of Ukraine, Hamas’ attack on Israel and the resulting Israeli invasion of Gaza have shifted the USA’s assessment of its ML, TF and PF risks.
These conclusions have been written into the latest US treasury ‘National Risk Assessments [NRA] on Money Laundering, Terrorist Financing, and Proliferation Financing’, released on Wednesday (Feb 7).…