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THE DE-RISKING by major banks through cancelling correspondent banking relationships (CBRs) has started to raise such alarm that anti-money laundering institutions are starting to advise against such caution.

“There has been international pressure to make banks think twice about turning down customers and not just have blanket bans  on certain jurisdictions  or certain types of institutions,” said Sarah Ouarbya,  partner in Mazars, one of the UK’s largest accountancy firms and an international  specialist in audit, tax and advisory services.…

SOUTH African fragrance sales are growing swiftly. Research released by Euromonitor International in April 2016 entitled ‘Fragrances in South Africa’ showed a market more than doubling from South African rand ZAR5.288 billion (USD423 million) in 2010 to ZAR11.505 billion (USD923.4 million) in 2015.…

SOLAR power of course draws on a free renewable energy to create electricity, but a burgeoning sector is enabling the harnessing of heat for cooking, which can promote energy efficiency in all manner of climates – solar cookers.

Indian solar cooker innovator Deepak Gadhia and Julie Greene, executive director, Solar Cookers International (SCI), co-chaired a 6^th SCI World Conference held in Gujarat, India, this January, that demonstrated how these technologies are entering the mainstream.…

IT has been a tough year for the fragrance industry in the United Arab Emirates (UAE), where competition between international and local brands has intensified, while consumer spending has been weakening. But this has not stopped perfumiers from launching new products nor has it prevented overseas suppliers from expanding their local presence.…

For a man his age, 43, top Omani accountant Omar Al Sharif figured out the path of success within his profession early in life. Coopers & Lybrand welcomed him as an ambitious accountant to its Muscat office in the 1990s. And as the fast-growing capital of Oman developed dramatically over the following two decades, so did Al Sharif’s career.…

KENYA has long been regarded as east Africa’s economic powerhouse, with residential and industrial construction boosting sales of paints and coatings – and for now there seems to be no halt in this progress. Indeed, the last World Bank assessment of growth in this 45 million people country was that GDP rose by 5.6% in 2015.…

THE SWISS Financial Market Supervisory Authority (FINMA) has ordered London-based bank Coutts & Co Ltd to disgorge unlawfully generated profits of Swiss francs CHF6.5 million (USD6.5 million) for breaching money laundering regulations over its dealings with Malaysian sovereign wealth fund 1MDB.…

YEAR–round sunshine, a young population, and a large expatriate community have made the United Arab Emirates (UAE) a strategic destination for multinational suncare brands, which continue to dominate the local market.

According to London-based research company Euromonitor International, the UAE’s suncare market was valued at Emirati Dirham AED89.38 million (USD24.3 million) in 2016, up 4% compared to 2015.…

CRACKING the sun care product market in a country like Iran is not easy because many Iranians consider sun care an “unnecessary luxury.” That said, it’s not all bad news. The country’s small niche sun care segment is growing slowly even from a low base.…

EAGER to give a new twist to the abaya (the robe-like dress worn by some Muslim women), she went on to create dozens of unconventional designs of the traditional garment and opened three branches of her boutique in the United Arab Emirates (UAE).…