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A major European trade union executive has warned a European Commission conference that Europe’s aluminium and steel industries could disappear if the European Union (EU) gives China ‘market economy status’ (MES) within its anti-dumping calculations.

Bart Samyn, deputy secretary general of industriALL, gave a stark warning claiming that “if the EU grants MES to countries such as China, this could kill a number of industries we have here in Europe”.…

The easing of international commercial sanctions against Iran is likely to boost both the country’s exports of non-ferrous metals and ores, well as foreign investment in the sector.

The Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) is the key government agency boosting this work and it announced on March 14 that it had signed a memorandum of understanding with the China’s Sinosteel Corporation to establish an alumina production plant and aluminium factory in Iran, along with an associated power plant supplying on-site electricity.…

The Islamic Republic of Iran has had to deal with financial sanctions imposed by the United States following the revolution in 1979, and then ramped up during the Bill Clinton and George W Bush administrations. But it was the multilateral financial sanctions imposed by United Nations Security Council resolutions (UNSCRs) and the European Union (EU) from 2007 onwards, and particularly in 2011, that hit Iran even harder, further narrowing an already limited window to operate financially in international terms.…

An unprecedented spike in rhino poaching has not only threatened the existence of the charismatic species but also shone a spotlight on the highly organised criminal networks responsible. Wildlife crime is no longer seen as victimless or offering little reward but authorities are fighting back with some innovative tactics, reports Mark Rowe. …

Activists in the Democratic Republic of the Congo (DRC) are locked in a battle with President Joseph Kabila’s administration over what they are describing as an attempt to extend his mandate beyond the official end of his second – and final – term in November.…

Following the international agreement limiting its nuclear power ambitions, Iran is essentially open for business. However, certain US sanctions remain in place, adding to Western banks’ caution in dealing with Iran, long a pariah to global investors and bankers. Indeed, the biggest challenge will be reintegrating Iran’s financial institutions back into the international system after their years’ long experience of dealing with, and circumventing, sanctions.…

Back in March 2014, a Hong Kong businessman named Joseph Lau Luen-hung was sentenced in absentia to five years and three months in prison by Macau’s Court of First Instance.

Lau had been found guilty, along with along with fellow businessman Steven Lo Kit-sing, of money laundering and paying a Hong Kong dollars HKD20 million (USD2.5 million) bribe to Macau’s former secretary of public works, Ao Man Long, who is himself serving a 27-year jail term (for bribery charges).…

With multilateral sanctions against Iran being eased as a result of its agreement over limiting its nuclear industry ambitions, the country is slated to invest up to USD10 billion on its airports, expecting a surge in tourists and passenger traffic. But while projects are being announced, no tenders have yet been inked, reflecting its government and potential bidders need for greater clarity in remaining sanctions regime.…

US prosecutors have secured their first conviction in a case involving widespread corruption at the United Nations. Last Thursday (January 14), Heidi Hong Piao, a Chinese-American national pleaded guilty to two counts of conspiracy, money laundering, bribery and failure to disclose foreign bank accounts to tax authorities.…

The European Union (EU) could ease strict conditions allowing tax and customs authorities to use reverse charge mechanisms to collect VAT, whereby liability for payments is switched from customer to supplier, to prevent fraud. The EU Council of Ministers for finance (Ecofin) has called on the European Commission to pay due attention to such anti-fraud measures in preparing a policy paper (communication) on the future of the EU’s VAT system, due for publication in March.…