Search Results for: Mongolia

China seems to have given the world nuclear industry back its mojo this summer with two big moves: the signing in June of an order for four Gen 3+ VVER-1200 reactors from Russia’s Rosatom. This certainly got the bubbly flowing at the World Nuclear Exhibition, in Paris, in late June, following two years of sluggish investment in this globalised industry.…

DESPITE being the world’s third largest cashmere producer next to China and Mongolia, according to research from the University of California, Davis, Afghanistan’s cashmere industry is heavily underutilised, according to industry experts.

Afghanistan in the previous decade (to 2010) produced around 7% of the world’s raw (greasy) cashmere, after China (72%) and Mongolia (18%) say UC Davis researchers (see https://afghanag.ucdavis.edu/other-topics/files/market/chasmere-value-chain.pdf).…

Brazil is by far the country most-named in American investigations for crimes against the US Foreign Corrupt Practices Act (FCPA), with China trailing behind in second place, according to the latest listing from a blog, FCPA Tracker. It says industries cited in the different FCPA probes tied to Brazil include power generation, waste management, oil and gas services, food production, steel manufacturing and telecommunications.…

EUROPEAN UNION (EU) finance ministers have agreed to remove eight jurisdictions, including much-criticised Panama that gave the world the ‘Panama Papers’ scandal, from the bloc’s tax haven blacklist, only a month after it was created.

A EU Council of Ministers statement said this decision, which has now been slated by members of the European Parliament (MEPs) and environmentalists, followed “commitments made” by the listed jurisdictions “to remedy EU concerns”.…

WHILE Mongolia is a low-income country, with an annual per capita income of approximately USD3,590 in 2016 (said the World Bank), its economy is heavily reliant on mining, so increasing foreign investment in the sector is boosting the risk of dirty money entering the country.…

THE SECURITIES Commission Malaysia (SC) has issued Guidelines on Sustainable and Responsible Investment (SRI) Funds to boost the growth of green investments in the country. The advice follows Malaysia issuing in July the world’s first green sukuk (Islamic bond).

The new advice applies to conventional as well as Islamic sustainable finance, including unit trust funds, real estate trust funds, exchange-traded funds, and venture capital and private equity funds.…

*The European Union (EU) Council of Ministers has published a blacklist of jurisdictions it thinks do not cooperate sufficiently with international efforts to reduce tax evasion. They are American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, the Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad & Tobago, Tunisia and the United Arab Emirates (UAE).…

THE EUROPEAN Union (EU) Council of Ministers today (December 5) adopted a money laundering blacklist, bringing widespread criticism because the listing – designed to prevent tax fraud and evasion – only covers countries outside the 28-nation bloc. Despite the European Commission screening 92 jurisdictions worldwide, the final list of non-cooperative jurisdictions in taxation matters only contains 17 jurisdictions: American Samoa, Bahrain, Barbados, Grenada, Guam (another US territory), South Korea, Macau (a China special administrative region), the Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad & Tobago, Tunisia and the United Arab Emirates (UAE).…

THE POPULARITY of soft merino wool in China is growing, with this demand offering Australian wool exporters a potential export bonanza, until – and if – Chinese wool growers develop their own merino supplies.

But for the time being, say Australian and Chinese merino experts, efforts to develop Chinese merino production remains stuck in laboratories, with Chinese consumers mistrustful of the quality of China-made wool.…

With its history of currency counterfeiting, drug trafficking, proliferation of weapons of mass destruction (WMD) and the laundering of related proceeds and payments, there is surely no state worldwide that has a worse money laundering track record than that of the Democratic People’s Republic of Korea (DPRK, North Korea).…