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In the aftermath of Russia’s invasion of Ukraine, which has forced 6.2 million people from the country (UN figures) (1) and caused more than USD151 billion in infrastructure damage, says the Kiev Schol of Economics (2), Ukraine’s fashion retail market has been transformed.

The Morocco textile and clothing industry is forging ahead with expansion and modernisation plans despite the September 8 earthquake that killed 2,900 people and could cause up to USD10 billion’s worth of damage, according to the US Geological Survey (USGS).…

California has passed a Climate Corporate Data Accountability Act, which would require US-based companies doing business in the state with more than USD1 billion in annual revenues to file annual reports publicly disclosing their Scope 1, 2 and 3 greenhouse gas emissions.…

Sales in Europe of China-built electric vehicles (EVs), such as Tesla Models 3 and Y, BMW iX3 and Renault Dacia’s Spring, could all be hit if the European Union (EU) slaps proposed countervailing duties on cheap battery electric vehicles (BEV) made in China.…

Manufacturers, including major dairy producers, and retailers are increasingly innovating and investing in the growing market of plant-based cheese, to meet expanding consumer preferences for healthy and sustainable products.

According to data shared by UK-based market research firm Euromonitor International, global retail sales of plant-based cheese have been growing from USD584.6 million in 2020 to a projected USD896.3 million in 2023, Regionally, North America is the main market with projected USD443.2 million in sales in 2023, followed by western Europe with USD385.4 million  eastern Europe is much lower with a projected USD13.5 million in sales for 2023.…

As artificial intelligence (AI) systems advance, detection of trade-based-money laundering (TBML) should improve, but there are major drawbacks to widespread implementation, notably though a dearth of available trade data, and poor statistical harmonisation worldwide. Paul Cochrane reports.

Artificial intelligence (AI) and machine-based learning has been used for the past decade by financial institutions to sift through vast amounts of data to spot anomalies as well as verify information.…

While energy price rises have started levelling off after 2022 steep inflation, the need to boost sustainable electricity capacity in Europe, carried by strengthened transmission networks, boosting security of supply against unreliable partners such as Russia and further reduce carbon emissions, is becoming ever more pressing.…

The Cayman Islands is on the cusp of being removed from the FATF (Financial Action Task Force) grey list, where it has languished since January 2021, after it completed 63 reforms required by the global AML body. A final inspection by FATF officials was staged this month (September) (1), with the British overseas territory looking to be removed by the next FATF plenary in October (2023).…

USA FIU FinCEN is to designate transactions involving international convertible virtual currency mixing (CVC mixing) a source of ‘primary money laundering concern’. The move, the first time FinCEN has used its authority under Section 311 of the USA Patriot Act on combatting terrorism and money laundering to target a class of transactions in this way, follows the Hamas attack on Israel on October 7, believed to have been largely funded with crypto.…

The Indian confectionery industry, which according to London-based market researcher Euromonitor International, is expecting sales of Indian Rupees INR335.92 billion (USD4.05 billion) in 2023, up 13.4% year-on-year, excelling with consolidation, automation and advanced packaging.

Growth is seen in almost every confectionery and sweet bakery segment, as per Euromonitor data.…