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IT has been called the world’s most powerful bank. In their book ‘China’s Superbank Debt, Oil and Influence – How China Development Bank [CDB] is Rewriting the Rules of Finance’, Bloomberg journalists Henry Sanderson and Michael Forsythe describe how the “CDB’s system of local government finance has helped lift millions out of poverty and shielded the country from recession”.…

CHINESE investors in London’s property market are becoming increasingly important players, and the signs are that the flow of Yuan into the UK capital could keep growing. Michelle Zhang, who heads up the China desk at DTZ London, said: “CIC [China Investment Corporation] would be viewed as the most active Chinese investor and now have a number of prime London property holdings;” she highlighted the Chinese sovereign fund’s recent GBP245 million purchase of Deutsche Bank headquarters Winchester House, from KanAm, undertaken alongside Invesco.…

THE ONLINE market for perfume and cosmetics in the USA has bucked five years of recession then patchy economic recovery to grow steadily as more people connect to the Internet and get the e-commerce habit. Distributors such as America’s Estée Lauder Companies and Canada’s Lise Watier have prospered online and through mobile platforms offering customer interaction, convenience, and access to international markets.…

THE EUROPEAN Union (EU) offers a more favourable investment environment compared to north America or south-east Asia in the eyes of Chinese investors, according to a recently released study of Chinese companies investing in Europe. Africa however is seen as the most welcoming destination for Chinese investment, by 85% to 15%, according to the survey of 74 Chinese firms carried out by the EU Chamber of Commerce in China (EUCCC), in cooperation with KPMG and Roland Berger Strategy Consultants.…

Both producers and importers of olive oil in the United States will be following their government’s actions closely in the coming months as decisions on proposed legislative changes could greatly impact the industry.

The sharply divided US Congress has failed to pass a new, multi-year farm bill to replace the 2008 law that expired this year.…

Mossi & Ghisolfi, an Italian petrochemical multinational with headquarters in the northern city of Tortona, has commenced operations at a second generation bio-ethanol demonstration plant that uses rice straw and the common giant cane ‘Arundo Donax’ as a feedstock.

The plant is located in Crescentino, about 120 km southwest of Milan in Italy’s Piedmont region.…

COUNTERFEIT cash can be a most useful tool for money launderers. When made properly, high value notes can be moved around the world and spent without recourse to banks, credit card operators and other financial institutions.  And with the increasing sophistication digital counterfeiting technology, this criminal industry is today a truly global enterprise: high quality banknotes can be faked almost anywhere in the world.…

THE USA’s Securities & Exchange Commission (SEC) has settled a bribery case with Indiana-based pharmaceutical Eli Lilly & Company, where the company has agreed to pay more than USD29 million in fees, penalties and charges. Lilly was charged with violations of America’s Foreign Corrupt Practices Act (FCPA) over alleged bribes by its subsidiaries to foreign government officials in Russia, Brazil, China, and Poland, in return for business.…

MUCH was expected on the anti-money laundering (AML) front from President Barack Obama’s first USA administration. But the verdict of professional AML observers is that while important gains were achieved in some areas, the overall effect was blighted by a curious failure of will to follow through. …

THE CHINESE government is drafting a new five-year anti-corruption plan for 2013 to 2017, which is expected to increase supervision of lower-ranking Communist party cadres. To be finalised and published before June, the new plan, said a Politburo statement is likely to “intensify supervision of officials’ adherence to various disciplines…” The statement backed more “limits and supervision of officials’ power and campaigns to promote a clean work style at grassroots levels…”

Other recent international fraud news:

*Global law enforcement representatives and football executives have met for the first time at a conference held to combat match fixing frauds, which generate millions of dollars of illicit gambling revenue for organised crime syndicates.…