Search Results for: International business

The International Sustainability Standards Board (ISSB) is considering a report highlighting difficulties in implementing its first two standards, with board members to consider whether they need amending. The paper focuses especially on problems linked to IFRS S2 on climate-related disclosures, such as concluding paragraphs being “unclear and [that] appear contradictory” to requirements in IFRS S2 regarding disclosure of “scope 3 category 15 GHG emissions”, for example.…

The Biden administration’s September 6 (2024) decision to renew the suspension of Ethiopia from membership of the African Growth and Opportunity Act (AGOA), which once granted the Horn of Africa duty-free access to the USA, is forcing Africa’s second most populous country to look east for alternative textile and clothing investment and export sales.…

Activists within the UN-supported Higher Education Sustainability Initiative (HESI) have been discussing plans to integrate sustainability concerns into HE courses’ accreditation, so that environmental-health concerns become an integral part of learning. https://sdgs.un.org/HESI

Debra Rowe, HESI Action Group co-chair and president, said speakers emphasised “the international trends toward this from business schools, engineering programmes, countries’ national policies, and more, and how we can help these countries move along faster in this direction.”…

The ongoing political unrest in Bangladesh has proved a blessing for Pakistan’s clothing and textile sector, enabling many Pakistani exporters to secure international orders ahead of Christmas most by their Bangladeshi competitors. However, weaknesses in the Pakistani industry have prevented it from taking full advantage.…

French government plans for special “exceptional and temporary” taxes on the highest earning individuals and companies with the largest turnover will not make those targeted flee France, an aide close to budget minister Laurent Saint-Martin stressed to Accounting & Business.

The draft budget law (PLF) 2025 (1) was unveiled on October 10 by Saint-Martin (a member of the Rennaissance centrist bloc backing President Emmanuel Macron) and finance minister Antoine Armand (also from Rennaissance) before the French lower house of parliament, the National Assembly.…

EUROPEAN oil and fats industry representatives are concerned and green groups angry that the European Commission is proposing to delay (1) implementation of the May 2023 European Union (EU) deforestation regulation (EUDR) (2) by a year. However, industry groups in Malaysia and Indonesia are hailing the delay as a sensible move, helping them prepare for the new regime.…

Nigeria’s paint and coating industry and its key construction sector partner are at a crossroads, balancing economic pressures with regulatory demands, in a simultaneous push for growth and sustainability. Recent developments highlight the complex landscape facing manufacturers, regulators and consumers alike in Africa’s most populous country (with 230 million people). …

Compliance costs are an increasing burden on international trade, including shipping, aviation and road transport, with expanding requirements on anti-money laundering, sanctions, dual-use goods and environmental controls augmenting customs, know-your-customer, shipping identification documentation and more.

These requirements, while often based on international standards drafted by bodies such as the Financial Action Task Force (FATF) (for money-laundering and terror/proliferation finance), the World Customs Organisation (WCO) and the International Maritime Organisation (IMO), are usually imposed by sovereign states or autonomous customs administrations, such as Hong Kong.…

While the reluctance of many companies to report fraud to law enforcement is well documented, it would be a useful deterrence if those cases that made it to court generated tough enough penalties to scare some scammers from scamming.

Alas, this is not often or even usually the case.…

PAYMENT SCENARIOS

Looking beyond their core function of managed file transfers (MFT), the potential for eBLs in trade finance is profound. eBLs can simplify payment processes for shippers, consignees and banks. Through third party validation and integration with digital tools such as smart contracts, transactions can be executed simultaneously, upon fulfilment of stipulated conditions, bypassing escrow services.…