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Efforts to decarbonise transport and industry may be depressing global oil markets, but they are actually strengthening one key hydrocarbon niche – that of lubricants. Far from making such oils obsolete, the electric vehicles (EV) that are sold in increasing numbers (3.2 million worldwide in 2020 said the EV Volumes database) rely on transmission fluids, which can be made from fossil hydrocarbons.…

Anti-money laundering specialists may be focusing on how crypto-currencies and online transactions pose an increasing ML/TF risk, especially with Covid-19 encouraging ecommerce, but the reality is that cash remains the money launderers’ best instrument for moving dirty money.

That is the conclusion of Gabriel Hidalgo, a managing director at risk specialists K2 Integrity, in New York: “Cash is king for ML; it continues to be king; and on the majority of levels, illicit actors will continue to use cash,” he said.…

The latest probe by the Organized Crime and Corruption Reporting Project (OCCRP) into publicly accessible data held on Luxembourg’s ultimate beneficial ownership (UBO) register – ‘OpenLux’ [1] – has alleged gaps in European Union (EU) requirements as well as the Grand Duchy’s own UBO provisions.…

Brief:

The Lebanese economy has been suffering from a set of complex crises that became acutely evident by the end of 2019. At that time, a dramatic financial system collapse started, affecting various aspects of public life. The damage caused by this crisis is examined by this paper.…

The US new administration of President Joe Biden has a real opportunity to help forge peace in Syria, and if it succeeds, it could reap a series of important foreign policy goals.

This Levant country needs calm and reconstruction. For that to happen, the Biden team needs to recognise that the Baathist regime of President Bashar Hafez al-Assad has won this conflict, and still has rights in areas controlled by Kurds.…

The US new administration of President Joe Biden has a real opportunity to help forge peace in Syria, and if it succeeds, it could reap a series of important foreign policy goals.

This Levant country needs calm and reconstruction. For that to happen, the Biden team needs to recognise that the Baathist regime of President Bashar Hafez al-Assad has won this conflict, and still has rights in areas controlled by Kurds.…

Now Joe Biden has acceded to power in Washington, it is important that his administration gives special attention to Iraq, not the least because many Iraqis blame him for some dismal failures in past America policy. Under former President Barack Obama’s term of office, it was then Vice President Joe Biden who was largely responsible for the policy fudge which saw ISIS take over 40% of the country.…

The United Arab Emirates (UAE) has long been the most dynamic economy of the Arab word, based on finance, property, tourism, research and more, as well as energy wealth. Other Gulf countries, except Bahrain, are far more energy reliant. And with that diversification has come a great openness to overseas talent, with non-Emiratis now making up 85% of the 9.5 million population.…

Now Joe Biden has acceded to power in Washington, it is important that his administration gives special attention to Iraq, not the least because many Iraqis blame him for some dismal failures in past America policy. Under former President Barack Obama’s term of office, it was then Vice President Joe Biden who was largely responsible for the policy fudge which saw ISIS take over 40% of the country.…

Islamic finance is flourishing across parts of the Middle East and south-east Asia. Assets are increasing, there is a greater diversification in product offerings, and Islamic fintech is starting to take off.

Islamic finance assets were estimated at USD2.88 trillion globally in 2020, and are forecast to grow at a CAGR of 5% to 2024, to reach USD3.69 trillion, according to New York-based research firm DinarStandard’s State of the Global Islamic Economy (SGIE) 2020-21 report.…