Search Results for: Austria

Turkey is struggling to recover its position as an important supplier of high-end and luxury fabrics, recouping sales lost on cost to Chinese rivals. The industry retains great potential strength, being the world’s fifth largest supplier of textiles selling USD12 billion exported annually, according to Istanbul Textile and Raw Materials Exporters Association (İTHİB – İstanbul Tekstil ve Hammaddeleri İhracatcilari Birlig).…

Corruption increased in 2020 across the 27 European Union (EU) countries according to 32% of participants in Transparency International’s latest survey of over 40,000 people, the ‘Global Corruption Barometer (GCB) – European Union 2021’ (1). As regards other respondents, 44% saw no change and only 16% a fall, year-on-year.…

THE GROWING popularity of cryptocurrencies has stoked concerns that they offer a haven for money launderers. The concern focuses on the risk that crypto can be used anonymously to buy goods and services, without them being converted into fiat currencies through exchanges that are a key focus of emerging AML/CFT controls.…

INTRODUCTION

The textile industry is one of the world’s oldest manufacturing sector, yet it is also one of the most dynamic, constantly reinventing itself. Today, the development of micro-factories might herald root-and-branch change in how the textile and clothing industry operates, a transformation driven by advances in digital textile printing.…

The Czech Republic’s digital textile printing business continued to thrive in 2020, with the Covid-19 pandemic’s e-commerce boom boosting trade rather than hampering the sector. Europe’s leading print-on-demand provider Spread Group, which was founded 18 years ago under the name Spreadshirt, and has a key plant in the Czech Republic, had a record year.…

Unprecedently severe bottlenecks in merchandise trades between Asia and the rest of the world caused by Covid-19 economic disruption is continuing to frustrate apparel retailers in Europe and the US. High levels of demand, port congestion and shortages of containers have been pushing up costs, with shipping rates for the Shanghai-Rotterdam and Shanghai-Los Angeles routes on January 21 being up 296% and 153% year-on-year respectively, according to UK-based maritime consultancy Drewry. …

BRITISH and European Union (EU) confectioners must take care to ensure their products meet new origin rules if they want them covered by the duty free goods provisions of the new EU/UK trade agreement struck on Christmas Eve.

The 1,256-page deal includes complex and comprehensive origin rules, such as for chocolate, which can be deemed made in the EU and Britain if all dairy, eggs and honey used are sourced locally, as well as at least 40% of grains, malt, starches and wheat, (which must also not exceed 30% of costs).…

LUXEMBOURG may be a small country, but it is big in dairy, especially milk – with its other main products cheese, butter, butteroil and cream. Growth in the dairy sector of this Grand Duchy, similar in size to the UK country of Dorset and slightly smaller than the US state of Rhode Island, is continuing – even during the market disruption of the Covid-19 pandemic and Brexit.…

Many of European Union’s 27 member states appear to have been dragging their feet when implementing a key provision of the fifth anti-money laundering directive (5AMLD) (1), setting up a public ultimate beneficial ownership (UBO) register.  The registers should have gone live for the corporate world on January 10, 2020, and two months later on March 10 for trusts.…

THE INTERNATIONAL trade in paint and coatings products and ingredients contains significant variations in prices that some experts warn maybe too good to be true and could indicate that certain trade flows are being exploited by money launderers.

Such criminals seeking to move illicit proceeds from one country to another through artificial pricing – deliberate over- and under- invoicing.…