Search Results for: Switzerland

The World Trade Organisation (WTO) has signalled that it may resume its importance in promoting free trade in food and drinks by securing a global agreement that limits fishing subsidies. At its 12th Ministerial Conference in Geneva, Switzerland, in June, the WTO banned subsidies for illegal, unreported, and unregulated (IUU) fishing by its member jurisdictions – covering most countries in the world.…

Textile businesses in the European Union (EU) will need to reinforce checks on the safety of chemicals used in textile finishing and the amount of chemicals used, following the entry into force of new EU product safety rules under a revision of the EU’s general product safety directive (1).…

EUROPEAN Union (EU) clothing manufacturers are preparing to carry out more checks on clothing safety, for example on potential flammability, dyes that may cause allergic reactions, or dangerous drawstrings, under a proposal (1) for new EU rules on protecting consumers from potentially dangerous products.…

Switzerland continues to fall short on combating foreign bribery and should urgently take concrete steps to adopt key legislative reforms, according to the Organisation for Economic Cooperation and Development (OECD) Working Group on Bribery. It said in a July 20 public statement (1) it is “very concerning” that Switzerland still has not adopted longstanding legislative reforms it first recommended in 2011 (2) in an assessment of Swiss implementation of the OECD anti-bribery convention (3), notably on protection for private sector whistleblowers.…

Observers of the global Islamic finance industry are predicting significant imminent growth in sharia-compliant environmental and social governance (ESG) investment, as demand for financial institutions to deploy funds in ethical ways expands, along with awareness of climate change and social justice.…

Russia’s invasion of Ukraine – which as of June 10 had killed 4,339 civilians (UN figures) – sparked an unprecedented range of sanctions against Russia’s financial, business and political elite. But there is little evidence as of June – with the invasion entering its fourth month – of upset Russian oligarchs pressuring President Vladimir Putin to abandon his bloody invasion, because they had lost access to their yachts, mansions and bank accounts.…

National risk assessments (NRAs) for money laundering and terrorist financing, required by the Financial Action Task Force (FATF) since 2012, are not comparable nor based on sound methodology, according to a new World Bank study (1) ‘National Assessments of Money Laundering Risks: Learning from Eight Advanced Countries’ NRAs’.…

Although China’s 13th Five-Year Development Outline for the Textile Industry (2016–2020) mandated sustainability improvements for China’s entire textile industry, the government’s efforts to improve the environmental performance of the country’s synthetic dye segment have gained visible momentum more recently, under the 2021-25 14th Five-Year plan.   …

While the torrent of international sanctions imposed on Russia following its invasion of Ukraine on February 24 have slowed, the breadth and complexity of these measures have continued to challenge compliance officials in banks and other financial services.

An American Bankers Association (ABA) paper released this month noted that the sanctions deluge had been “unprecedented in its speed, complexity, and global impact”.…

Cannabidiol oil, or CBD oil, has steadily become a more in demand commodity supplied by the bio-based oils and fats industry due to rising product usage in food, pharmaceuticals, supplements, nutraceuticals, lotions, shampoos, soaps, bath gels, massage oils and cosmetics.

Product developers stress how CBD products can provide consumers with relief for anxiety, depression and post-traumatic stress disorder.…