Search Results for: european union⊂mit=Search

A lack of infrastructure, government support, foreign trade barriers and weak domestic demand have been hampering the development of the wool industry in central Asia. Limited business opportunities are forcing farmers to focus on breeding sheep for lamb and mutton meat production, especially in Kazakhstan, the region’s wool potential powerhouse, rather than on rearing merino for wool.…

Investigations by the European anti-fraud office (OLAF) uncovered more than EUR1.2 billion’s worth of fraud and irregularities in 2023, according to the agency’s latest 2023 annual report (1). It shows that OLAF recommended cases to recover EUR1.04 billion in stolen money for the European Union (EU) budget last year, more than double the EUR426.8 million in 2022.…

The German Federal Court of Justice (BGH – Bundesgerichtshof)’s ruling, issued June 27, that Emmerich, Germany-based vegan fruit gum and liquorice manufacturer Katjes cannot call their fruit gums ‘climate neutral’ will impact affecting future food advertising and labelling, industry experts have told Just Food (1).…

The textile industry is undergoing a transformative shift with the increasing use of prepared-for-print (PFP) fabrics, essential in the digital textile printing landscape. These innovations are driven by technological advancements, sustainability efforts and market demand for quality and efficiency. Leading companies such as France-based finishing technology provider SENFA; Haryana, India-based cloth manufacturer Pearl Global Industries; and Paris, France-based interlinings manufacturer Chargeurs are at the forefront of this evolution.…

The new president of the European Apparel and Textile Organisation (EURATEX), the Portuguese textile entrepreneur Mario Jorge Machado, wants to push for a more united European Union (EU) to fight unfair competition worldwide.
Machado was elected by his peers during the Euratex’s general assembly on June 14.…

The European Union (EU) has been moving towards creating a groundbreaking carbon removal certification scheme, allowing food producers to gain financial benefits for innovative sustainability, but such work by EU dairy farmers has yet to be properly recognised. That is the criticism of EU food producers’ association Copa-Cogeca, commenting on an upcoming EU regulation on a ‘certification framework for permanent carbon removals, carbon farming and carbon storage in products’ (1).…

Companies and public sector organisations could sharpen their fraud prevention efforts, according to the Association of Certified Fraud Examiners (ACFE), making sure that red flags raised by background checks on potential employees are acted upon, if these assessments are made at all.…

A company helping ship North Korean military supplies into Russia has been sanctioned by the European Union (EU), after Moscow signed a defence deal with North Korea, the rogue one-party state subject to FATF’s harshest AML/CFT controls.

As Moscow continues its two-and-a-half-year long invasion of Ukraine, the EU Council of Ministers have banned any transactions with the company and frozen any EU assets of LLC Vostochnaya Stevedoring Co, which handles containers in Vostochny port, in Russia’s Pacific far east region Primorsky, near Vladivostok, just 180km from the Russian-North Korea border.…

THE EUROPEAN Union (EU) has now formally approved a single anti-money laundering rulebook centred on an EU Anti-Money Laundering Authority (AMLA) in Frankfurt that should ease compliance for international firms operating across the bloc. The package also includes a regulation on the traceability of funds and crypto-asset transfers, which will ensure that crypto-trading is traceable making it easier to identify and block suspicious transactions.…

With AML, it is tough to say where the buck stops, but governments are addressing the need to ensure AML supervisory authorities are themselves assessed, to keep standards high. The issue was central to the recently agreed European Union (EU) AML/CFT reforms that authorised the launch in the EU of an Anti Money Laundering Authority (AMLA), approved by the EU Council of Ministers and the European Parliament in May (2024).…