Search Results for: Nigeria

AFRICA’S economic growth means it does not just have more banks than before, banking groups are spreading across national borders. And while this can boost banks’ lending and savings security, it also complicates the job of regulators charged with ensuring such institutions are honest and solvent.…

The UK Serious Fraud Office (SFO) has refused to deny claims that it is extending a criminal investigation into allegations of bribery and corruption at luxury car and aeronautical engine maker Rolls-Royce by examining fresh allegations of wrong-doing in Nigeria. The SFO probe was launched in December 2013 to look into possible bribery and corruption by the company’s aerospace division in China and Indonesia, and the investigation was already extended at last December to take in Rolls-Royce activities in Brazil.…

Nigeria is to build a new Aerospace University, it has been announced.

The news broke as the International Civil Aviation Organisation (ICAO) Council president Dr Olumuyiwa Bernard Aliu visited the African state last month.

In addition, the Nigerian College of Aviation is to be upgraded to full status as an ICAO regional training centre, it was announced following meetings with Mr Aliu and Nigeria’s President  Muhammudu Buhari.…

A MEETING of the European Parliament’s special committee on tax rulings has grilled multinationals over European Union (EU) member state tax rulings. The European Commission fears they have been abused by governments giving companies low tax rates in return for registering businesses in their jurisdictions.…

China pharmaceutical industry investors want to help sub-Saharan African countries meet growing domestic demand for medicine in return for tax breaks and private-public partnership initiatives. But there are difficulties – including product quality and standards issues that impede the flow of Chinese Yuan into African pharma production.…

THE GLOBAL paint and coatings sector is looking closely at sub-Saharan Africa as an emerging market, which attracted USD56.3 billion in foreign direct investment (FDI) in 2014. And as the region’s richest and most diversified economy, the United Nations Conference on Trade & Development (UNCTAD) has noted, South Africa was Africa’s leading FDI recipient in 2013, with a figure that had more than doubled year-on-year to top USD10 billion.…

THE INDONESIAN textile industry is being put under pressure to boost its environmental performance by international non-governmental organisation (NGO) Greenpeace, which has accused sector of poisoning a major river in West Java.
WTiN.com visited elderly residents in Majalaya, a small town by the Citarum River, who say it was once clean enough to wash in.…

While many economies in Africa are growing fast, there is a consensus amongst accountants that the continent has to build its business reporting and administration to make sure this growth is sustainable. Indeed, the third African Congress of Accountants (ACOA), staged in Port Louis, Mauritius, from May 11 to 14, heard that this essential work is needed now, even as some countries remain marred by severe socio-political unrest, economic instability, poverty, famine and disease.…

TO discover the best intelligence on money laundering, sometimes it is best just to ask the money launderers. Take China. There are numerous ways of getting dirty money out of China. The most common include smuggling a satchel of banknotes to Hong Kong (where Chinese Yuan Renminbi (CNY) is convertible), where it is washed through an over-priced (for quick transaction) purchase of real estate in the city, several Hong Kong real estate agents told the Money Laundering Bulletin.…

THE EUROPEAN Commission may block or impose conditions on a planned acquisition by US-based Cargill of the industrial chocolate business of its American rival Archer Daniels Midland (ADM). The European Union (EU) executive’s directorate general for competition has opened an in-depth investigation into the deal, to assess whether it could damage the availability of reasonably priced supplies of this key confectionery input.…