Britain’s open register of beneficial ownership was groundbreaking worldwide but its effectiveness as a bulwark against money laundering is being debated, even as both the European Union (EU) and the US move ahead at varying pace to replicate the system. The question of whether BO registers should be open or closed is one that is being discussed in countries around the world.…

Oil-service provider Petrofac is to pay out a total GBP77 million (USD104.6 million) after pleading guilty to seven separate counts of failure to prevent bribery to win over GBP2.6 billion (USD3.5 billion) in Middle East contracts. In a case brought by the UK Serious Fraud Office (SFO), Her Honour Judge Deborah Taylor October 4 sentenced the Jersey-based contractor in Southwark Crown Court to pay GBP47,197,640 (USD64,208,613) in fines, a GBP22,836,985 (USD31,066,704) confiscation order plus the SFO’s GBP7 million (USD9.5 million) costs.…

Sub-Saharan Africa has natural resources that aids the development of renewable energy, it has lots of sun, plentiful wind, and much potentially sustainable biomass. With the development of small-scale affordable renewable energy technologies, such systems have been promoted by major aid agencies keen to prevent deforestation and excessive reliance on fossil fuels, that – even where they are plentiful, have not usually led to widespread economic development.

The Taiwan Environmental Protection Agency (EPA) has initiated a revision of the island’s Greenhouse Gas Reduction and Management Law, partly to help paint and coatings manufacturers maintain access to the European Union (EU) market. The reform will take account of the EU’s planned Carbon Border Adjustment Mechanism, which may levy duties on products the EU deems have been made with excess carbon emissions.…

The increasing decriminalisation and legalisation of cannabis as a recreational and medicinal substance has encouraged the liberalisation of hemp as a fibre crop, whose use in some jurisdictions had been restricted because of laws against the plant’s chemically-active ingredients.

This is starting to change, most notably in the USA, which used to have severe anti-marijuana laws, but which now has 18 states that have legalised recreational cannabis use.…

Argentina has potential to develop a lucrative business for exporting guanaco fibre, one of the finest in the world, but it will take investment, government support and marketing to make it happen, experts say.
“The medium and long-term market is very promising since these products go to a sector that values social, environmental and cultural sustainability, something that is increasingly rooted in middle- and high-income sectors,” Luciano Galfione, CEO of Textil de los Andes (TexAndes), a maker of guanaco and other natural fibres and yarns in San Fernando del Valle de Catamarca in north-western Argentina, told Twist International.…

Oil-service provider Petrofac is to pay out a total GBP77 million (USD104.6 million) after pleading guilty to seven separate counts of failure to prevent bribery to win over GBP2.6 billion (USD3.5 billion) in Middle East contracts. In a case brought by the UK Serious Fraud Office (SFO), Her Honour Judge Deborah Taylor October 4 sentenced the Jersey-based contractor in Southwark Crown Court to pay GBP47,197,640 (USD64,208,613) in fines, a GBP22,836,985 (USD31,066,704) confiscation order plus the SFO’s GBP7 million (USD9.5 million) costs.…

Only a foolish person would deny the importance of culture and historical consciousness on the present behaviour of humankind, and that counts maybe double for the Arab world, where citizens often view society through a more ideological or religious lens than – say – in the west.…

While the Arab world certainly has a political culture of its own, there are many universal human truths that its politics shares with the rest of the globe, even if – perhaps – tensions can be more intense in this region than others.…

Cryptocurrency innovation is moving fast, with AML/CFT-oriented financial institutions and law enforcement struggling to keep up as criminals exploit the system through newer technology such as decentralised finance and anonymous privacy coins.

The use of cryptocurrencies is surging, and is increasingly being adopted in more, often unregulated, markets.…