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BY MARK ROWE
PEPSICO, which is marking 50 years of operations in the Middle East, finds itself at something of a crossroads. An all-American company, in a region where anti-Americanism has rarely been so widespread, it faces several challenges to ensure that it will continue to operate successfully in the Middle East for a further half a century.…

BY MARK ROWE
THE 19th century saw imperial rivalry create the “Great Game”, when Russia and the British Empire tweaked one another’s tails in the region that following Russia’s Bolshevik revolution became known as Soviet Central Asia. The old Great Game was tied to control of India, and to gems and gold.…

BY MARK ROWE
UZBEKISTAN has been at the forefront of international AML efforts in the central Asia region, a spokesman for the United Nations Office on Drugs and Crime (UNODC) told the Money Laundering Bulletin. Uzbekistan has the most advanced AML legislation and apparatus of all the former Soviet Central Asia and has signed more than 20 bilateral and multilateral agreements on cooperation in fighting illicit drug trafficking with its Central Asian neighbours, as well as with Azerbaijan, Georgia, Iran, Pakistan, Russia and Turkey, according to the International Money Laundering Information Network (IMOLIN), (whose contributing members include the Financial Action Task Force (FATF), the Asia Pacific Group on Money Laundering, the United Nations and the World Customs Organisation).…

BY MATTHEW BRACE
THE FLOCKS of sheep floating about in a livestock ship in the Middle East will be brought back to Australia or killed at sea. Desperate negotiations to give them away to various Middle Eastern countries as a goodwill trade gesture have so far failed.…

BY ALAN OSBORN
THE EASTERN and southern Europe countries slated to join the European Union (EU) on May 1, 2004, have worked small wonders in recent years to set up anti-money laundering regimes, not necessarily because they believe this is good in itself but partly at least because EU entry might not be possible otherwise.…

Keith Nuthall
THE UNITED Nations body established to settle claims made against Iraq because of its illegal occupation of Kuwait in 1991 has awarded a further US$315 million in compensation, bringing the total amount of money paid out under its authority to US$46.6 billion.…

BY ALAN OSBORN
THE PREMISES of five major European chemical companies have been raided by the European Commission’s antitrust services in a search for evidence of price-fixing in solvents, and a small list of other products. Brussels said the investigation was at a “preliminary stage” and could lead to no evidence of wrong-doing.…

Keith Nuthall
WORLD Trade Organisation (WTO) wine and spirits rules of origin register talks chairman Eui-yong Chung, of South Korea, has released his draft proposal designed to end the long running negotiations. It tries to crystallise positions so a deal can be struck at the WTO TRIPs council, July 2-3.…

BY KEITH NUTHALL
AS with many projects inspired by the start of the next 997 years and the last three, the framing of the United Nations’ (UN) Millennium Development Goals was an ambitious enterprise.

Imposing statistically measurable targets for international organisations and national governments in making improvements in global poverty, education, gender equality, health, the environment and education, they have proved tough to attain.…

BY PHILIP FINE

THE EXTRAORDINARY efforts by the American government to thwart terrorist financing have been leaning heavily on the USA’s financial services industry,

which continues to bear the brunt of the new anti-money laundering legislation.

Noone was surprised that the US government set its sights on the banks when it enacted legislation to make it more difficult for criminals to launder their illicit money or for terrorists to soil their clean money.…