Search Results for: Greece

The takeover of troubled Greek cold cuts producer Creta Farms has been approved by a court, with Dutch-Bulgarian investment trust Impala Invest Group, which already runs food manufacturers in Bulgaria, to gain ownership.

A court of first instance in the Cretan city of Rethymno has formally approved a restructuring plan filed at the court by the new owner, which had been previously approved by the Greek banks and includes debt haircut of 64.12%.…

THE UNITED Nations’ Food & Agriculture Organisation (FAO) has proposed creating a permanent ‘observatory’ monitoring cocoa markets, assessing value and costs, to help chocolate sales revenues be more equitably distributed throughout supply chains.

In a report called a ‘Comparative study on the distribution of value in European chocolate chains’, the FAO said such “objectified and cross-checked data” would aid “a multi-stakeholder discussion” at national and global levels on revenue sharing.…

DAIRY products are supposed to be healthy, tasty, clean and legal, but unfortunately, as with other industries, criminals seek to exploit demand created by honest suppliers through smuggling, mislabelling, adulterating and selling unsafe stock.

These concerns prompt regular action by police, for whom food fraud and related crime is an increasing risk worldwide, and given the international nature of today’s supply chains, cross-border collaboration between law enforcement forces is of special value.…

Swiss pharmaceuticals giant, Novartis AG, plus a former subsidiary Alcon Pte and its current Greek wing, are together to pay out USD345.9 million in fines to American regulators because of corrupt practices. The penalties follow admissions that staff bribed public and private healthcare providers in Greece and Vietnam to choose Novartis products in breach of the United States Foreign Corrupt Practices Act (FCPA).…

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).…

HUNGARY continues to be an attractive market for tobacco majors, with its populist government seemingly determined to fight the European Union (EU) for the right to keep excise duties below EU mandated  minimums, and the fact that, according to the OECD Country Health Profile 2019 official data (https://read.oecd-ilibrary.org/social-issues-migration-health/hungary-country-health-profile-2019_4b7ba48c-en#page1…

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 suspension for alleged corruption by senior officials at a financial intelligence unit (FIU), the cornerstone of any jurisdiction’s AML work, would be shocking. But if those suspensions were at the FIU of the world’s only purely theocratic state, such reports would sound like the work of thriller fiction.…

Nicotine consumption is declining worldwide, with smokers are consuming less, as well as e-cigarette and heated tobacco users, according to market research provider Euromonitor International’s ‘Nicotine Survey, Exploring the Modern Nicotine Landscape’.

“Overall [the study] shows nicotine prevalence is declining not growing, and it is clear to see there isn’t much evidence that greater availability of nicotine formats is increasing smoking prevalence among adults,” said Shane MacGuill, head of tobacco research at Euromonitor International, in a webinar attended by TJI.…

GEOGRAPHICAL indications can be controversial legal protections that some food manufacturers regard as being unjust restrictions on trade in quality food items that are inspired by traditional products.

Of course, for companies based in traditional production regions of goods such as Prosciutto ham and Irish whisky, they can be a Godsend – preventing illicit competition (as they see it) from banking on a reputation for taste that has been created by protected manufacturers in previous decades, even centuries.…