Search Results for: International law

BY KEITH NUTHALL
BRAZILIAN steel producer V&M do Brazil has struck the largest deal to date under the Kyoto Protocol Clean Development Mechanism. It will see the steel maker selling five million tonnes of greenhouse gas reductions for Euro 15 million to an International Finance Corporation/Dutch government fund, the IFC-Netherlands Carbon Facility.…

BY MONICA DOBIE
THE INTERNATIONAL Labour Organisation (ILO) has highlighted ways in which tobacco companies worldwide ease the pain caused to its workers when they lose their jobs through global downsizing. A recent ILO report, called Employment Trends in the Tobacco Sector: Challenges and Prospects analyses how the use of better technology and cheaper labour in developing countries has resulted in the loss of jobs in richer countries, despite increases in production.…

BY KEITH NUTHALL
THE INTERNATIONAL Chamber of Commerce has published a guide alerting financial services businesses about how to avoid falling victim to fraud. Preventing Financial Instrument Fraud describes danger signals, explaining how frauds are mounted and the psychological manipulation upon which they are based.…

BY KEITH NUTHALL
THE INSURANCE sector may be so vulnerable to money laundering, its exposure should be probed in depth, the Financial Action Task Force (FATF) of the Organisation for Economic Cooperation and Development (OECD) has said. Its report on Money Laundering Typologies concludes that brokers often have “little or no training in anti-money laundering issues” and are used to “place cash funds into various financial institutions.”…

BY KEITH NUTHALL
EUROPEAN Union (EU) Competition Commissioner Mario Monti is to ask his colleagues on the European Commission to ban two special tax regimes – in Netherlands and Belgium – while allowing a threatened taxation system in Ireland to continue.…

BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction and Development is investing Euro 7 million of new equity into in Dalkia Termika, the Polish subsidiary of France-based Dalkia International, which will make a further investment as a result. Its Polish business will develop energy installations in Poland, especially district heating projects, making them more efficient.…

BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation of the World Bank is lending US$10 million to Ruscam, a Russia-based glass bottle supplier. The seven-year loan will finance the installation of a second furnace for the company, providing Ruscam with an additional 315 tons of glass making capacity per day at its Vladimir region base, 335 miles east of Moscow.…

BY PHILIP FINE

THE UNITED States is offering to eliminate tariffs on imported mining equipment and unspecified "energy products" as part of their initial offer to create the proposed 34-country Free Trade Area of the Americas. Those sectors join a number of other goods, including steel, and environmental and wood products, for which Washington wants to offer duty free access to its markets under a reciprocal agreement, as well as improving market access for a range of services, including "energy services."…

BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation (IFC) of the World Bank is leading an aid deal to encourage local companies to maintain and manage pipelines sending natural gas and oil from central Asia to the European Union. The IFC, (which is initially injecting US$250,000), BP, Norway’s Statoil, GTZ, (the German aid agency), and the Baku Enterprise Centre, Azerbaijan, will launch a programme to help local businesses benefit from petro- projects, notably the Baku-Tbilisi-Ceyhan pipeline to Turkey.…

BY MARK ROWE
THREE Belgian-owned dredgers detained for nearly seven months by Indonesian authorities for alleged illegal sand mining in the Riau islands, south of Singapore, have finally been released. Dredging International – the owner of the Lange Wapper – and Jan de Nul – the owner of the Vasco da Gama and Alexander Von Humboldt – are understood to have agreed to pay fines demanded by Indonesian authorities for the release of their dredgers.…