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THE EUROPEAN Union (EU) Council of Ministers has approved a fifth anti-money laundering directive (5AMLD). Its reforms include broadening public access to beneficial ownership information so that the public can learn the name, month and year of birth, country of residence and nationality of beneficial owners, plus the nature and extent of their beneficial interest.…

AS in the Caribbean, small island jurisdictions in the south Pacific vary regarding their anti-money laundering (AML) exposure through the extent to which they host offshore financial sectors. As a result, when comparing the counties of Vanuatu, Fiji and the Solomon Islands, it is clear which of the three global AML regulators have had to worry about – Vanuatu.…

THE EUROPEAN Court of Justice (ECJ) has today confirmed that ritual slaughter without stunning may take place only in the EU within a slaughterhouse licenced and approved by regulatory authorities. This rule should stand, its judges have said, even if temporary demand for ritual slaughter – for instance during a religious festival – would exceed the capacity of local slaughterhouses to handle potential business.…

Enhancing the quality of passenger experience while maintaining maximum security was a recurring theme during the Dubai Airport Show 2018. The annual airport industry event, held from May 7 to 9, drew more than 7,500 visitors.

Covering 15,000 square metres of space across three halls of the iconic Dubai International Convention and Exhibition Centre, its 18^th edition hosted more than 350 exhibitors from 60 countries.…

Irish meat and livestock exporters could soon bypass the UK by shipping products directly to continental Europe, in a bid to avoid increased costs and customs checks at British ports, once the UK leaves the European Union (EU).

According to the Irish Exporters Association (IEA), around 67% of Irish exporters currently make use of the UK land-bridge to access continental markets.…

AFTER years of sluggish growth and even contraction, the UK paint and coatings sector is set to rebound this year thanks to a booming domestic automotive manufacturing sector. However, this optimism has yet to be felt across the sector due to uncertainly the industry is facing ahead of Brexit.…

NEW Caledonia, a Pacific overseas territory governed by France, will need to transpose the new so-called European Union (EU) fifth anti-money laundering directive (AMLD5) reforms agreed in May. This is because the territory will have to follow AML/CFT implementing rules within French law, a spokesperson from the French ministry of economy and finance told the Money Laundering Bulletin.…

THE EUROPEAN Parliament has backed, at today’s (April 19) Strasbourg plenary session, the proposed fifth European Union (EU) anti-money laundering directive (5AMLD) imposing stricter rules to prevent money laundering and terrorism financing.

MEPs supported – by 574 votes to 13, with 60 abstentions – a December 2017 deal struck on the text reached with EU member states on the EU Council of Ministers.…

A STALLED project to make and test aviation biofuel in South Africa has offered a test case on how supply chain problems can prevent such innovative initiatives from making progress.

The launch of Project Solaris in 2014 as an international initiative between aviation and fuel sector partners to develop sustainable jet biofuel from the solaris crop attracted substantial media coverage for heralding in a new era in African aviation.…

PRINCESS Juliana International Airport, the Sint Maarten-based north-east Caribbean hub, which suffered heavy damage from last September’s Hurricane Irma, has opened an air-conditioned temporary departures pavilion. A temporary arrivals pavilion maybe open by April, as repairs to the airport’s permanent terminal interior, seriously flooded by Irma, continue.…