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European Union (EU) member states are lagging in compliance with a requirement in the fifth anti-money laundering directive (5 AMLD) (1) to create public ultimate beneficial ownership (UBO) registers by January 10, 2020. A European Commission webpage (2) on 5AMLD compliance last updated June 2 (2022) shows 12 governments are facing infringement proceedings either because they have not adopted legislation writing the directive fully into national law or because they have implemented it incorrectly.…

The striking of a political agreement over a European Union (EU) directive that will guide how its 27 member states set minimum wages, with the goal of increasing pay in low salary sectors such as clothing and textile manufacturing, is being watched closely by the fashion industry.…

Continental European and British manufacturers are stepping up to supplement the depleted US infant formula market, but their efforts may be limited by too little supply and too much red tape. “In the short run, major export volumes from the EU [European Union] to the US in these products is not a very realistic expectation,” said Pekka Pesonen, secretary general of Copa-Cogeca, which represents EU farmers and agri-cooperatives.…

The Greek government is seeking to grow English language higher education courses by approving a new law which will aid the creation of new English taught degrees run by Greek universities with overseas HE institutions. While these programmes were already legal, the new law clarifies how they should be operated and controlled by administrative and academic staff.…

INTRODUCTION 

Customisation is a key trend for a clothing and textile industry that looking to harness new technology to deliver consumer choice and flexibility over supply chains, including reshoring. The advent of artificial intelligence (AI) and machine learning, in addition to widespread automation of processes throughout the garment supply chain, has been hailed as a game changer.…

With Islamic finance strengthening and diversifying, service providers are increasingly targeting non-Islamic markets, competing directly with non-Islamic services. While demand in non-Islamic markets has historically been tied to factors spanning from real estate investment in GCC (Gulf Cooperation Council) economies to wealth management of non-Islamic countries’ Muslim minority populations, additional tailwinds are now deriving from Islamic finance’s closeness to the environmental, social, and governance (ESG) criteria used by socially conscious investors.…

As the Italian economy recovers from the particularly hard two-year coronavirus pandemic, Italy’s paints and varnishes sector is among the few to have weathered the storm well. “Our sector has probably never seen such a jump in growth like that of the past two years,” said Gianni Martinetti, president of the Paints and Varnishes Group of AVISA (1), which is part of Italy’s national chemicals industry association, Federchimica.  …

FATF has announced it will “severely limit” Russia’s role within FATF, following it invasion of Ukraine, which as of June 17 had killed 4,509 civilians (UN figures). Following its plenary from June 14-17, FATF announced Russia “can no longer hold any leadership or advisory roles or take part in decision-making on standard-setting, FATF peer review processes, governance and membership matters”.…

Growing environmental concerns and rising awareness of sustainable energy resources is driving considerable growth in the global used cooking oil (UCO) market. Production is also being boosted by recent technological advancements in UCO processing, expanding supplies from the rapidly evolving foodservice industry and initiatives by various governments to promote UCO for industrial use.…