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NEW FINTECH SERVICES DEVELOP FAST ANTI-FRAUD CHECKS THAT DELIVER SECURITY AND SWIFT CUSTOMER SERVICE
A harmonisation of regulatory frameworks and increased sharing of data between financial institutions may help overcome the “metronomic tension” within financial businesses balancing effective fraud detection and low user friction, say experts. With more challenger banks delivering services, real-time checks based on artificial intelligence (AI) and robotics may ensure the speed customers expect in digital transactions does not compromise security, including during onboarding.…
ELECTRIFICATION OF SHIPS A KEY STEP IN DELIVERING PARIS CLIMATE COMMITMENTS
Described by environmental campaigners as “the elephant in the COP21 negotiations room” when climate change proposals were agreed in Paris during 2015, today – the electrification of shipping is moving ahead apace.
From inland ferries to cargo barges and cruise ships, vessels are being built or retrofitted with renewable power propulsion sources, curbing the shipping industry’s major emissions.…
VIETNAM’S DIGITAL TEXTILE PRINTING INDUSTRY ADVANCING INTO NEW ERA
VIETNAM has been a major textile production hub for years and, as the country’s government pushes sectors to embrace technology associated with the Industry 4.0 movement, some companies are adapting advanced methods such as digital textile printing.
According to statistics from India-based Mordor Intelligence, Vietnam is the third-largest garment exporter in the world, with the United States, the European Union, Japan and South Korea serving as major destination markets. …
ASIAN REGULATORY ROUND UP – CHINA IMPOSES RETALIATORY TARIFFS ON US PAINT EXPORTS
THE CHINESE government has from September 1 imposed 5% additional retaliatory duties on US exports of paint to China, in the latest round of the trade war between the two countries. The new tariffs cover products such as polyester, acrylic, ethylene and polyeurathane powdered paints; acrylic, polymer and vinyl liquid paints; and more – see http://gss.mof.gov.cn/zhengwuxinxi/zhengcefabu/201908/P020190823604938915640.pdf…
ASIAN REGULATORY ROUND UP – HONG KONG GOVERNMENT RELEASES TAX BREAKS TO BOOST ECONOMY DURING ONGOING TURMOIL
HONG Kong’s government has released tax measures to support an economy buffeted by political protests, the US-China trade war and headwinds from a potential hard Brexit. Its financial secretary announced that 27 groups of government fees and charges would be waived for 12 months to benefit sectors including maritime, logistics, retail, catering, tourism, construction, agriculture and fisheries businesses.…
PAKISTAN SEEKS ALTERNATIVES TO INDIAN COTTON IMPORTS OVER KASHMIR CRISIS
PAKISTAN textile mill owners have decided to import cotton from alternative destinations to India following the government’s announcement of the suspension of trade ties with their neighbour because of the dispute over Kashmir.
On August 5, the Indian government said it was revoking the special status of Jammu & Kashmir state, turning it into a union territory, under control of the central government – Pakistan claims sovereignty over Kashmir and it has been a bone of contention between India, Pakistan and China since 1947.…
ASIAN REGULATORY ROUND UP – HONG KONG GOVERNMENT RELEASES TAX BREAKS TO BOOST ECONOMY DURING ONGOING TURMOIL
HONG Kong’s government has released tax measures to support an economy buffeted by political protests, the US-China trade war and headwinds from a potential hard Brexit. Its financial secretary announced that 27 groups of government fees and charges would be waived for 12 months to benefit sectors including maritime, logistics, retail, catering, tourism, construction, agriculture and fisheries businesses.…
MOODY’S WARNS US/CHINA TRADE WAR MAY FLOOD INDONESIA WITH CHINESE FABRIC – BUT LOCAL MANUFACTURERS SAY THEY ARE READY
THE US-China trade dispute could offer an incentive for Chinese companies to dump textile products into Indonesia, according to a report by Moody’s Investors Service.
But Indonesian textile representatives told WTiN they are confident safeguards are in place to minimise the risk of such dumping.…
CHINA IMPOSES RETALIATORY TARIFFS ON USA AUTO SECTOR – MOST PAIN COMES IN DECEMBER
THE AMERICAN automotive sector is today (Friday Aug 23) counting the cost of the latest round of automotive tariffs to be imposed on its vehicle and parts exports to China. It is the latest round of the increasingly punishing trade war between Washington DC and Beijing.…
EU ROUND UP – ECHA LAUNCHES ORGANIC POLLUTANT PROBE
THE EUROPEAN Chemicals Agency (ECHA) has started looking for persistent organic pollutants (POPs) that it may advise be restricted internationally through the Stockholm Convention on Persistent Organic Pollutants, and hence within the European Union (EU).
This new role for the agency, which could impact the use and availability of coatings and their chemical ingredients, was mandated under a new EU regulation on persistent organic pollutants (POP), that came into force in June – see https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32019R1021&from=EN…