Archive
International News Services archives articles supplied to clients one year or more after initial publication. These articles are protected by a password and not made available to readers without permission from clients. They are used as a background resource by agency journalists. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.
MYANMAR POLITICAL AND ECONOMIC DISRUPTION PUSHES CLOTHING ORDERS TO NEIGHBOURING CAMBODIA
Cambodian and Myanmar clothing industry leaders have confirmed a shift in manufacturing orders from Myanmar to Cambodia, caused by the economic and political disruption within Myanmar, since the February 1 coup.
Kaing Monika, deputy secretary general for the Garment Manufacturers Association in Cambodia, told Just Style that brands were starting to redirect orders to Cambodia, seeking more competitive prices, quality, delivery and compliance, but it was unclear if this would lead to factories moving at this point.…
DEMOCRATS AND REPUBLICANS: NOT TWO SIDES OF THE SAME COIN
Since its foundation, the United States has regularly seen opposition party presidents defeat the candidate of the incumbent ruling party. Indeed, since the 1920s (when Republican presidents held sway), only one ruling presidential candidate won an election to replace a predecessor from the same party – President George Bush Snr in 1988.…
EU FRAUD ROUND UP – EPPO LAUNCH COMES AS EU INCREASES LAW ENFORCEMENT ACTION AGAINST FRAUD
European Union (EU) law enforcement, perhaps emboldened by the launch of the European Public Prosecutor’s Office (EPPO), has launched a series of cases and inquiries, including against high-ranking politicians accused of corruption. For example, Gabrijela Žalac, Croatia’s regional development and EU funds minister from 2016-9, and three accomplices, have been arrested, on EPPO orders, for alleged fraud regarding the purchase by her ministry of deliberately overpriced software for a public company.…
BRITISH AND SWISS BANKS FINED EUR344 OVER ‘STERLING LADS’ ONLINE FOREX CARTEL
British and Swiss banks have been fined a total of EUR344 million for operating a cartel coordinating their foreign exchange (forex) spot trades of the world’s 11 most important currencies – USD, EUR, GBP, Japanese Yen, Swiss francs; Canadian, Australian and New Zealand dollars; Danish and Norwegian krone and Swedish Kroner.…
SFO UNDER REVIEW AFTER UK COURT OVERTURNS CONVICTION
Britain’s Attorney General Suella Braverman has commissioned an independent review of the Serious Fraud Office (SFO) after its failings led the Court of Appeal to quash the conviction of Ziad Akle, former territory manager in Iraq for Monaco-based, Unaoil. In July 2020 Akle was sentenced to five years prison over bribes Unaoil paid to secure Iraqi contracts for offshore mooring buoys, but appeal judges Lord Justice Holroyde, Mr Justice Jeremy Baker and Mr Justice Jay, overturned the overturned the conviction December 10.…
APPAREL SECTOR: COUNTRY PROFILE BANGLADESH
The second-largest garment exporting country in the world, Bangladesh has grown its position as a key outsourcing hub since the 1980s.
With a global market share of 6.26%, according to the World Trade Statistical Review 2021 (1), “The industry has come a long way,” said Md. …
UK FAILED TO PREVENT FRAUD WITH BOUNCE BACK COVID LOAN SCHEME, SAYS WATCHDOG
The UK’s National Audit Office (NAO) has said the British government failed to put adequate measures in place to prevent fraudsters stealing GBP4.9 billion (USD6.4 billion) through its GBP47 billion (USD62 billion) Bounce Back Loan Covid-19 recovery scheme. Launched in May 2020, the fund guarantees low interest loans to small businesses through commercial lenders of up to GBP50,000 (USD66,000) or 25% of turnover, and to ensure quick payments, allowed self-certification, the NAO noted in ‘The Bounce Back Loan Scheme: an update’ (1).…
CAP REFORM SHOULD AID DECLINING FARMING POPULATION, SAY EXPERTS
The European Union (EU) dairy industry is looking hard at the new Common Agricultural Policy (CAP) reforms that were approved in June to see if they deliver enough help to rejuvenate what has become an ageing industry. Currently only 11% of EU farmers are less than 40 years old, the European Commission notes (1), a problem highlighted at this year’s European Milk Board general assembly.…
EUROPEAN UNION ACCOUNTANTS FACE NEW DETAILED DEMANDS ON HOW THEY FIGHT MONEY LAUNDERING
Accountants in the European Union (EU) are facing the launch of a more intrusive and proactive legal system fighting money laundering (ML) and terrorist finance (TF), designed to stem the flow of dirty money across borders.
These are huge. Impossible to count accurately, but the UN Office on Drugs and Crime (UNODC) has estimated that USD2 trillion is laundered annually worldwide from all types of crime, from tax evasion to sanctions busting and drug trafficking to white collar fraud.…
POLAND CAN MANUFACTURING AND FILLING SECTOR OFFERS STRENGTHS IN INNOVATION AND SUSTAINABILITY
The Polish can manufacturing and filling industry continues to attract attention from major buyers and investors from around the world, aware that this strong and innovating national sector is able to rely on a strong, reliable workforce.
Global beverage giant PepsiCo, for example, has been drawn to the Polish can manufacturing industry.…