Search Results for: South Africa

GIVEN the hundreds of billions of dollars spent by banks on fighting money laundering, fears that trade-based money laundering (TBML) remains widespread, as stressed by FATF, the APG (http://www.fatf-gafi.org/publications/methodsandtrends/documents/trade-basedmoneylaunderingtypologies.html), and most recently, the European Commission (https://ec.europa.eu/info/sites/info/files/supranational_risk_assessment_of_the_money_laundering_and_terrorist_financing_risks_affecting_the_union_-_annex.pdf), are of serous concern. The World Trade Organisation (WTO) said that in 2018, global merchandise exports were worth USD19.48 trillion, so there is plenty of place for laundered money to hide.…

ANTI-money laundering maybe a career that financial and legal professionals increasingly follow, but the training and qualification structure for AML/CFT is still emerging and solidifying, and there are doubts whether it will ever coalesce into a formal global structure, akin to FATF recommendations.…

India’s nonwoven technical textile industry has been at the centre of two successive public heath emergencies – first ramping up production of air purifier filters to combat dangerous levels of winter air pollution and now increasing the output of materials needed to make face masks to fight the Coronavirus outbreak.…

Nicotine consumption is declining worldwide, with smokers are consuming less, as well as e-cigarette and heated tobacco users, according to market research provider Euromonitor International’s ‘Nicotine Survey, Exploring the Modern Nicotine Landscape’.

“Overall [the study] shows nicotine prevalence is declining not growing, and it is clear to see there isn’t much evidence that greater availability of nicotine formats is increasing smoking prevalence among adults,” said Shane MacGuill, head of tobacco research at Euromonitor International, in a webinar attended by TJI.…

South Africa’s electronic vaping product (EVP) market is growing fast – at 5% a year, according to management consultant Canback Consulting, and already estimated to be worth South African Rand ZAR1.16 billion (EUR82.8 million/USD68.2 billion). To target such growth, Philip Morris South Africa (PMSA) opened its first standalone IQOS store last August (2019), selling its smoke-free devices and associated product in the upmarket Johannesburg neighbourhood of Sandton, adding to the 11 kiosks in malls it was already operating in the provinces of Gauteng, Western Cape and Kwazulu-Natal.…

ZAMBIA’S government is caught between enforcing World Health Organisation (WHO)-sponsored tobacco control regulations and pushing an economic strategy which touts tobacco leaf as a key component of its goal to transform the Zambian economy to upper middle-income status by 2030. Zambia signed and ratified the WHO Framework Convention on Tobacco Control (FCTC) in 2008 and has since been working to implement its provisions, although progress has been slow.…

The Covid-19 pandemic has disrupted efforts by South Sudan tertiary education leaders and ministers within the newly formed South Sudan unity government to restore the country’s universities, many of which were devastated by the years of civil war that may now have ended.…

THE CLOTHING and textile industry and government officials within the Indian Ocean archipelago nation of Mauritius, say they are hopeful that a trade deal will be struck with India this year and that it will help build sales and capacity in this important African outsourcing hub.…

INTERNATIONAL export centres for the wool industry have been considering how they will help fill gaps in supplies to the knitwear sector because of the damage caused to Australia’s wool sector by January’s devastating bush and outback fires. Extensive rain has now at last extinguished most of Australia’s bushfires, but wool growers are still assessing the damage.…

IN another blow to Britain’s Serious Fraud Office (SFO), three former Barclays bankers have been acquitted of fraud in the UK’s first trial of bank executives for misconduct during the 2008 financial crisis. Roger Jenkins, executive chairman of investment banking and investment management in the Middle East and North Africa, Barclays Capital; Richard Boath, European head of financial institutions group, Barclays Capital, and Thomas Kalaris, chief executive of Barclays Wealth and Investment Management, had been charged with conspiracy to commit fraud by allegedly misleading investors and the markets over capital raising arrangements agreed with Qatar Holding LLC and Challenger Universal Ltd in June and October 2008.…