Search Results for: saudi arabia⊂mit=Search
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THE BITTER FRIENDS - HANIYEH AND NETANYAHU SERVE EACH OTHER, WHEN NECESSARY
For nearly a hundred years, the city of Jerusalem has been the scene of violent confrontations between Jews and Arabs. This is the most recent of struggles over this most disputed city that have continued for more than three thousand years.…
DEFENCE AND SECURITY GRAFT A RISK IN 62% OF COUNTRIES
Nearly two-thirds of 86 countries assessed worldwide face a high to critical risk of corruption in their defence and security sectors, according to the 2020 Government Defence Integrity Index (GDI) (1) that the Transparency International defence and security programme published November 16.…
TECHNICAL ROUND UP – ISSB LAUNCHED AT COP26
THE INTERNATIONAL Sustainability Standards Board (ISSB) will start work in early 2022, based in Frankfurt, Germany, and Montréal, Canada, the IFRS Foundation Trustees have announced at the COP26 climate change meeting in Glasgow, Scotland. The trustees added that the new body would by next June (2022) incorporate the work of the Climate Disclosure Standards Board (CDSB) and the Value Reporting Foundation (VRF), which itself includes the Integrated Reporting Framework and the Sustainability Accounting Standards Board (SASB).…
BENEFICIAL OWNERSHIP LEDGERS BEING CREATED – BUT NOT WITHOUT SERIOUS TEETHING TROUBLES
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.…
PETROFAC FINED GBP77 MILLION OVER MIDDLE EAST BRIBES
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.…
ASIAN REGULATORY ROUND UP – TAIWAN REVISES CLIMATE LAW TO ENSURE PAINT EXPORTS TO EU AVOID ECO-DUTY
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.…
ITALY’S FOOD CAN MARKET SHOWS RESILIENCE AMID CONTINUED SUPPLY CHAIN AND PANDEMIC DISRUPTION
Global supply chain delivery delays and price tensions continue to disrupt Italy’s otherwise robust food can production sector. With profit margins squeezed, food canners expect prices to rise across the board for these long shelf-life food staples
According to Italian can manufacturing industry association ANFIMA’s most recent data, Italy produced 698,523 tonnes of rigid metal packaging (tinplate and steel) and 24,745 tonnes of aluminium packaging in 2020, up 3.6% and 7% from the same period the previous year, respectively.…
LIBERALISATION OF CANNABIS IS EASING CONTROLS ON HEMP FIBRE PRODUCTION
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.…
PORTUGUESE HALAL MARKET GROWING TOWARDS SUSTAINABLE AND SIGNIFICANT FUTURE
The food halal market for Portugal, a largely Christian country that was in the early Middle Ages part of the Muslim world, has been expanding, serving a growing local Muslim community and Muslim tourists keen to taste Portuguese food.
Between 711 and 1249, most of Portugal was under Muslim rule, which influenced its language and culture.…
PETROFAC FINED GBP77 MILLION OVER MIDDLE EAST BRIBES
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.…