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Search Results for: World Trade Organisation

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NORDIC BEAUTY MARKET HIT BY COVID-19, BUT FUNDAMENTAL STRENGTHS REMAIN

THE NORDIC region’s beauty market has, like every other country, been hit by the Covid-19 pandemic. However, the stability of societies in Norway, Sweden, Finland, Denmark and Iceland has meant that their retail sectors have avoided some of the chaos linked to the health emergency that that has harmed other markets.

All five countries are also developed economies, whose consumers have money to keep their personal care product traders afloat.

According to Finland-based Global Research & Data Services, sales of personal care products in Norway’s 5.3 million people market last year (2019) were worth USD700 million, based on UN data.…

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"Kremlin" by larrywkoester is licensed under CC BY 2.0

EUROPEAN DAIRY SECTOR ENCOURAGED BY RUSSIA LOOSENING IMPORT BAN TO COPE WITH COVID-19

THE EUROPEAN dairy sector has welcomed the opening of an infant formula import quota by the Russian government as it shores up essential supplies to cope with the Covid-19 outbreak.

Moscow’s action on 90% demineralized whey powder followed up an announcement made in March 19 by Prime Minister Mikhail Mishustin that from March 20 “for one month, all restrictions on the supply of essential goods, including customs, are cancelled”. This was followed up by a government plan allowing for the easing of sanctions-related restrictions – see http://static.government.ru/media/files/vBHd4YRxpULCaUNNTFLVpPSZbMCIA2Zq.pdf…

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GROWING DESIRE FOR WELLNESS EXPANDS SALE OF NICHE BEAUTY PRODUCTS FOR EXERCISE AND ATHLETICS

The intersection between beauty products, fashion and sport has never been so mainstream. This was evident last year when popular yoga and athletic-apparel brand, Vancouver, Canada-based Lululemon Athletica Inc launched in June (2019) its own athleisure gender-neutral beauty and personal care line (BPC), called ‘lululemon selfcare’.

Comprised of a dry shampoo, deodorant, face moisturiser, lip balm, and more recently, body lotion, the line is sold only in North America and available in gym or travel sizes.  “For over 20 years, lululemon has been focused on solving athletes’ needs.…

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NEPAL GOVERNMENT OFFICIALS HOPE AML/CFT REFORMS OF PAST DECADE WILL PROMPT POSITIVE APG REPORT IN UPCOMIGN REVIEW



ANTI-money laundering authorities in Nepal hope an upcoming 2020-21 review by the Asia/Pacific Group on Money Laundering (APG) will conclude this Himalayan state is at least largely compliant with all FATF recommendations and special recommendations, although experts admit the review will be tough.…

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PHILIPPINES GOVERNMENT LAUNCHES INNOVATION DRIVE TO COMMERCIALISE TROPICAL INDIGENOUS TEXTILE SECTOR



THE PHILIPPINES government hopes to jumpstart its tropical indigenous textile sector through more innovation, but the country’s exporters say significant work needs to be done to score export orders. The Department of Science and Technology-Philippine Textile Research Institute (DOST-PTRI) last November (2019) inaugurated a Regional Yarn Production and Innovation Center (RYPIC) in Miagao, Iloilo, Panay island, which now produces crafted yarns from blends of natural local textile fibres – culled from abacá, banana and pineapple leaf – combined with cotton.…

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CORONAVIRUS SLOWS ITALY’S IMPORTANT TEXTILE SECTOR



Italy’s textile sector is running at reduced capacity due to the tougher health protocols that have been put in place to protect workers from Covid-19 contamination, the president of Confindustria Toscana Nord, Andrea Cavicchi, told WTiN.com.

All textiles mills in manufacturing centre Prato were operational following the March 12 decree, which shuttered until March 25 much commercial activity across the country, including clothing stores, allowing manufacturing activities to continue only if companies respected stricter health protocols aimed at mitigating the spread of the infectious disease.…

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TRADE DATA ANALYSIS INDICATES WIDE SCOPE FOR TRADE-BASED MONEY LAUNDERING MAY INVOLVE THE SHIFT OF BILLIONS OF DOLLARS IN VALUE



GIVEN the hundreds of billions of dollars spent by banks on fighting money laundering, fears that trade-based money laundering (TBML) remains widespread, as stressed by FATF, the APG (http://www.fatf-gafi.org/publications/methodsandtrends/documents/trade-basedmoneylaunderingtypologies.html), and most recently, the European Commission (https://ec.europa.eu/info/sites/info/files/supranational_risk_assessment_of_the_money_laundering_and_terrorist_financing_risks_affecting_the_union_-_annex.pdf), are of serous concern. The World Trade Organisation (WTO) said that in 2018, global merchandise exports were worth USD19.48 trillion, so there is plenty of place for laundered money to hide.…

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SERBIA'S MAKES INCONSISTENT PROGRESS IN ANTI-MONEY LAUNDERING AFTER COMING OFF FATF'S GREY LIST



DURING the Yugoslav wars and their aftermath, the government of Serbia President Slobodan Milošević, and his family, were accused of laundering millions of dollars from Serbia, notably to Cyprus – see https://www.tax-news.com/news/Cyprus_Traces_Two_Accounts_Linked_To_Milosevics_Alleged_Money_Laundering_Activities____3063.html. Today, 20 years after the fall from power of the man held responsible for whipping up the nationalism that broke up Yugoslavia, Serbia’s AML/CFT affairs are more prosaic.…

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TOP 10 MONEY LAUNDERING CASES



  • 1MDB SCANDAL IN MALAYSIA SEES USD BILLIONS STOLEN AND HIDDEN

 

Malaysia 1MDB scandal is one of the largest money laundering cases ever, worldwide, with Malaysian courts considering charges over how at least USD4.5 billion was stolen and then spent or laundered from Malaysian sovereign wealth fund 1Malaysia Development Berhad by former Prime Minister Najib Razak and his associates.…

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NEPAL GOVERNMENT OFFICIALS HOPE AML/CFT REFORMS OF PAST DECADE WILL PROMPT POSITIVE APG REPORT IN UPCOMIGN REVIEW



ANTI-money laundering authorities in Nepal hope an upcoming 2020-21 review by the Asia/Pacific Group on Money Laundering (APG) will conclude this Himalayan state is at least largely compliant with all FATF recommendations and special recommendations, although experts admit the review will be tough.…

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