Search Results for: Russia

THE MOLDOVA government was quick to respond to the latest Moneyval assessment (December 2012) of its anti-money laundering (AML) and combating the financing of terrorism (CFT) policies, adopting a five-year strategy and action plan in June. This responded to Moneyval’s recommendations that Moldova improve its anti-money laundering legislation and law enforcement.…

THE WESTERN Balkans has long been considered as having weak money laundering controls. But, Croatia’s accession to the European Union (EU) on July 1 and tighter legislation in Serbia has focused criminals’ attention on a smaller number of looser jurisdictions – Montenegro is one of those.…

THE INSURANCE risks involved in oil and gas exploration and production (E&P) are rising in line with growing industry complexity and the move into deeper, remoter and more environmentally sensitive environments.

This is placing ever greater demands on the need to identify, quantify and insure against risk, particularly when the financial and reputational repercussions of getting it wrong are escalating too.…

THE RUSSIAN government is planning to boost the health of the country’s commercially weak textile industry through two major orders for the supply of uniforms for Russia’s secondary schools, army, police and security services.

Russia’s President Vladimir Putin has been the main instigator behind the school uniform project, and his office has said the plan would involve Russian textile companies being asked to produce uniforms for 13 million pupils for during the 2013-2014 financial year.…

CROATIA, which joined the European Union (EU) on July 1, aims to revive its knitting sector following a decline in recent years. While understandably cautious about the next few years, given the current economic troubles in Europe, Croatia plans to capitalise on the potential benefits and opportunities from being an EU member state, focusing on innovation and higher-value products in order to become more competitive.…

THE INDIAN apparel industry has made progress with backward integration over last five years but exporters rely too heavily on refunds of custom duties when re-exporting apparel based on fabrics and fibres bought outside the country, a Li & Fung India executive told a New Delhi conference on Friday (July 19).…

THE CAPACITY of Moscow airports will increase nearly threefold during the
next three to four years under a Russian Rubles RUB600 billion (USD18.7 billion) plan unveiled by the Russian ministry of transport at a June 15 meeting of the State Council, which advises President Vladimir Putin.…

THE RUSSIAN market for technical textiles is developing steadily, with the government seeing this as a growth area serving increasing local demand while it looks for a way to kick start a traditional textile industry that has been stagnating in recent years.…

PROSECUTORS in the USA last week revealed the largest case of alleged credit card fraud in American history. New Jersey US Attorney Paul J Fishman said the alleged fraud has cost companies more than USD 300 million.

The indictment against four Russians and a Ukrainian lists corporate victims including, among others, Citigroup, Dexia Bank Belgium, Euronet, Nasdaq, PNC Financial Services, Visa Jordan, 7-Eleven Inc, Carrefour, JC Penney and JetBlue Airways.…

EUROPEAN Union (EU) ministers have agreed reforms to the EU’s VAT directive 2006/112/EC enabling member states to swiftly impose reversed charge VAT mechanisms to fight tax fraud. They would act when faced with a sudden onset of large-scale VAT fraud, forcing suppliers to pay the tax, rather than final consumers.…