Search Results for: International business

BY KEITH NUTHALL
THE PURCHASE of adequate accident coverage for all passenger ships operating in European Union waters is to become mandatory under European law, under new proposed EU legislation from the European Commission; it implements last year’s updating of the International Maritime Organisation’s Athens convention on passenger ferries, which limits the liability of a carrier for death or injury involving a traveller to around US$325,000 per passenger.…

BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation of the World Bank is lending US$700,000 to Cameroon petroleum transporter Sodetran-Cam Sarl, to expand and upgrade its fuel transportation trucks. It plans to buy 10 additional tanker trailers to boost its work with Cameroon’s Mobil Oil Distribution Company.…

BY KEITH NUTHALL
THE CREATION of an international joint-venture, manufacturing oxo chemicals – which are a key ingredient of many paints, varnishes and plasticisers – has been agreed by the European Commission. It has approved the 50/50 initiative involving German chemical producers Celanese AG and Degussa AG; it will trade as European Oxo Chemicals (EOC).…

BY SWINEETHA DIAS WICKRAMANAYAKA
THE PROSPECT of significant underwater monosite, ilmanite, rutile and zircon off the Sri Lankan coast has attracted the attention of 10 international companies, two from Australia, two from India and two from Sri Lanka. Their applications to mine the 11 heavy mineral seabed deposits, whose estimated worth exceeds US$330 million, are being considered by the island’s Marine Pollution Prevention Authority (MPPA).…

BY KEITH NUTHALL
ALTHOUGH an investigation by the Canadian Food Inspection Agency did not discover another case of BSE, following the lone outbreak that has devastated Canada’s beef exports, further instances may well follow, a member of the International Committee on Bovine Spongiform Encephalopathy has warned.…

BY MARK ROWE
THE FIRST meeting of the world’s five largest sugar exporters has agreed to co-ordinate efforts to boost prices in the commodity’s international market from current record lows. Meeting in Bangkok, representatives of Thailand, Australia, Brazil, South Africa and Guatemala agreed to speed up co-operation and seek to lift world prices without raising domestic retail prices.…

BY KEITH NUTHALL
A PLANNED privatisation of Albania’s dominant insurance provider INSIG (Instituti I Sigurimeve SH.A) is likely to receive support from the European Bank for Reconstruction and Development (EBRD). The EU finance house and the World Bank’s International Finance Corporation are planning to buy up to 40 per cent of the institution, with a minimum of 51 per cent being offered to a private investor and up to nine per cent to the Albanian public, said an EBRD statement.…

BY KEITH NUTHALL
WITH the World Health Organisation securing approval for its long debated Framework Convention on Tobacco Control, attention is now turning to ratifications by member countries: 40 are needed for it to come into force, Last minute concessions were made at the WHO to bring dissenters such as Germany and the United States on board, who had objected to the convention’s insistence on signatory governments banning tobacco advertising; both countries said this broke constitutional guarantees of free speech.…

BY KEITH NUTHALL
GLOBAL shipping companies have been warned to be careful about information they reveal about the nature and positioning of their cargoes, with the International Chamber of Commerce (ICC) using an assessment of the attack on the French tanker the Limburg as a cautionary example.…

BY ALAN OSBORN
FORGET all those stories you used to hear about weak regulation and cosy financial set-ups in Britain’s offshore dependencies such as the Channel Islands, the Isle of Man and the crown colony of Gibraltar. They may once have been good places to launder money but not any more they aren’t.…