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With China turning from capital inflow to outflow amid Chinese companies’ global expansion programs, Chinese financial institutions are facing closer anti-money laundering scrutiny, as they, too, expand globally. Indeed, China’s top five banks had 1, 270 overseas branches at the end of 2017 (according to FATF (the Financial Action Task Force).…

Morocco’s clothing manufacturing sector has pivoted to making medical supplies to cope with the flood of cancelled orders from hard hit European customers that marked the outbreak of the Covid-19 pandemic – developing textile backward linkages that could strengthen the industry for the future.…

MAJOR European food and drink industry associations have asked the European Union (EU) and Britain to consider agreeing a temporary holding Brexit deal, preserving EU/UK free trade, once the current transitional period involving the UK follows EU rules, expires on December 31.…

THE COVID-19 crisis has severely depressed sales of personal care products within Latin America and it is unclear when the market will pick up.

In Argentina, for example, a coronavirus-induced lockdown has pushed the economy deeper into recession, slashing sales of most unessential beauty and personal care products.…

Egypt’s garment and textile manufacturing sector has been hit hard by the Covid-19 pandemic, despite strict lockdown measures not being enacted and factories being able to stay open.

“A lot of orders were cancelled, or delayed, and many companies went into Chapter 11 (bankruptcy),” said Mohamed Kassem, chairman of the Egyptian Company for Textile Parks Development, in Cairo.…

Carbon emissions within the European Union were falling fast last year (2019) even before the Covid-19 crisis halted much of the EU economy and slashed CO2 releases, according to new figures from EU statistical agency Eurostat. It argues that tightening regulatory controls were the key reason for a 4.3% year-on-year EU-wide fall in CO2 emissions from fossil fuel combustion (including oil and oil products, coal, peat and natural gas).…

The European Commission has launched a series of infringement procedures for shortcomings in national legislation implementing the European Union’s (EU) fourth and fifth anti-money laundering directives (4AMLD and 5AMLD), including one against Britain, even though it left the bloc on January 31 (but remains subject to EU law during a transitional period to December 31. …

THE EUROPEAN Union (EU) and its member states are loosening their subsidy rules and reviewing environmental controls as they consider how to help Europe’s automobile sector recover from the beating delivered by the Covid-19 pandemic. With EU passenger car sales tumbling 76.3% year-on-year in April (these figures exclude Britain, with a 97% fall), EU automobile industry association ACEA, parts association CLEPA, repairers and dealers’ federation CECRA and tire makers organisation ETRMA have called on the EU to “consider temporary flexibilities in competition rules” restricting takeovers and subsidies.…

Paint and coating manufacturers and retailers in North Africa have been struggling with the outbreak of the Covid-19 virus, just as have their counterparts in other regions, however some markets and industries in the region seem better placed to cope with the pandemic’s economic impact than others.…

In a case that could open the floodgates to multimillion dollar cross border lawsuits against auto makers involved in Europe’s 2015 ‘Dieselgate’ scandal, a senior European Union (EU) judge has advised that car buyers should be able to sue Germany-based Volkswagen from a court in neighboring Austria.…