Search Results for: World Trade Organisation

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.…

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.…

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. …

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.…

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.…

USA FIU FinCEN has sought to clarify ambiguities in how it will collect beneficial ownership information under ‘Anti-Money Laundering Act’ (AMLA) passed by Congress in January, highlighting significant weaknesses in the system, said an AML expert.

While the law increases transparency in US business by creating a new beneficial ownership register, authorising a new AML whistleblowing system, increasing AML fines, and expanding powers to subpoena foreign banks for AML/CFT information, the UBO system has significant exemptions.…

The new National Security Law imposed by Beijing on Hong Kong last June (2020) (1) has added a new dimension to money laundering requirements in the special administrative region (SAR), as banks and other institutions now find themselves required to flag cash movements by figures deemed as ‘secessionist’ under the new law.…

Populism, the force that elected Donald Trump to the US presidency in 2016, is not a new creed – representing, as it does, a distrust by the mass of voters of political and business elites. Indeed, in America, a formal ‘People’s Party’, also called the Populists, was formed in 1892 and ran in that year’s presidential election, with some success, gathering 8.5% of the vote.…

Every four years, the presidential US election reminds the world that democracy can work – that even the leader of the world’s most powerful country can lose power at the hands of voters. Sure, there is some repetition – today’s losers in Washington are those who won in 2016.…

Cambodian and Myanmar clothing industry leaders have confirmed a shift in manufacturing orders from Myanmar to Cambodia, caused by the economic and political disruption within Myanmar, since the February 1 coup.

Kaing Monika, deputy secretary general for the Garment Manufacturers Association in Cambodia, told Just Style that brands were starting to redirect orders to Cambodia, seeking more competitive prices, quality, delivery and compliance, but it was unclear if this would lead to factories moving at this point.…