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THE UNITED States’ Foreign Account Tax Compliance Act (FATCA) is to go into force on July 1. Aimed at curbing tax evasion by US citizens around the world, foreign financial institutions (FFIs) are required to report on US account holders, but over 200,000 FFIs and 123 countries have not yet signed up.…

INDIAN cosmetics companies are widening their manufacturing base in Bangladesh to meet surging demand in this key emerging market of 154 million people, while skirting higher import tariffs for products made in India. But the move of India-owned beauty and personal care products makers into Bangladesh has sparked concern amongst their Bangladeshi counterparts, who fear their domestic market share being grabbed by Indian companies commanding stronger financial firepower. …

The value of European Union (EU) exports of spirits and liqueurs dropped 1.6% in value last year after being the fastest-growing product group in 2012, according to the European Commission’s ‘Agricultural trade in 2013: EU Gains in Commodity Exports’ report. Whisky exports in particular dropped steeply – by EUR131 million.…

IN the past year, several developments – both new and built on previous initiatives – have emerged, suggesting the apparel and textile industry is continuing to move towards a more sustainable supply chain.

A key move was the publication of Version 4.0, of the Global Organic Textile Standard (GOTS), released by the GOTS International Working Group, in March (2014).…

THE EUROPEAN Chemicals Agency (ECHA) has announced new reforms to the European Union’s (EU) new biocidal products regulation, clarifying difficulties discovered in the original legislation, in force from last September (2013). Widely used in anti-microbial and insecticide-impregnated knitted fabrics, a new amending regulation for biocidal products in force from April 25 (334/2014) includes a new definition of biocidal product families by risk and efficacy.…

Nonwovens are taking on an increasingly important role in creating more sustainable vehicles, particularly in interiors, offering lightweight materials reducing fuel usage, recyclability, and the use of green feedstocks such as plant and waste food material.

The US-based global Association of the Nonwoven Fabrics Industry (INDA) estimates there was about 560,000 tonnes of nonwovens in global automotive usage in 2013, said Dave Rousse, INDA’s president.…

Concern about global excess steel-making capacity has intensified at the Organisation for Economic Co-operation and Development’s (OECD) steel committee, whose Paris meeting today and yesterday (June 5-6) has wrapped up this afternoon. Members were concerned especially that steel demand worldwide fell in the first quarter of 2014.…

Swiss stainless steel shapes maker Montanstahl AG’s first ever plant in Asia is likely to be set up in Sri Lanka, the company has told Steel First. “If the general conditions are satisfactory like industrial site, incentives, electricity supply, then we will invest,” Wolfgang Stumm, vice president who heads research and development in the family-owned business said. …

HELPING AND ADVISING EUROPEAN CONSUMERS SHOPPING AND TRAVELLING ABROAD

WHEN CAN ECC-NET OFFICES HELP YOU?

• Air travel

So much can go wrong: flights can be delayed or cancelled; luggage can be lost or damaged; and hidden fees can be charged.…

This year – 2014 – could be a watershed in the progress towards greater harmonisation of criminal justice measures throughout the European Union (EU) aimed at organised crime, corruption and money laundering.

A final report (2013/2107(INI)) last September (2013) by the European Parliament’s special committee on organised crime, corruption and money laundering (CRIM) provided detailed recommendations that were filtered and approved by the parliament’s plenary session late October.…