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Six days before a meeting with senior Chinese officials in Alaska next Thursday, national security adviser Jake Sullivan said the Biden administration “believes that we are going to end up in a stiff competition with China, and we intend to prevail in that competition.” He spoke during the White House press briefing on Friday afternoon.

A strategy recently adopted by the European Commission paves the way towards a greener trade policy, accompanied by a push for reform of global trading rules. It makes clear the EU’s determination to take a tougher approach towards enforcing trade agreements and dealing with unfair trade practices. Following a broad consultation process, the new EU new trade strategy outlines a series of headline actions centred around the concept of ‘open strategic autonomy.’ According to...

UAE businesses that must register in anti-money laundering systems Web Report/Dubai (Wam file photo used for illustrative purpose) The deadline for non-financial businesses is March 31; failure to register could result in closure. The Ministry of Economy (MoE) has listed the businesses that need to register in the anti-money laundering systems before March 31. ALSO READ: These include real estate agents, gold dealers, auditors, and service providers for companies. Referred to as designated non-...

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The UAE, which has strict laws to deal with money laundering and the financing of terrorism, has issued various regulations and adopted numerous measures to fight financial crimes. The country launched a new agency to combat money launderers, entities and people suspected of financing terrorists and organised crime last month. The Executive Office of Anti-Money Laundering and Counter Terrorism Financing will be affiliated with the Ministry of Foreign Affairs and International Co-operation. In N...

Abu Dhabi: The Ministry of Economy (MoE) called upon business sector and the Designated Non-Financial Businesses and Professions (DNFBPs) to expedite registration in the Financial Intelligence Unit (goAML) and the Committee for Commodities Subject to Import and Export Control system before March 31 to avoid penalties. In addition to penalties, non-compliance could resultin the revocation of their non-compliant parties’ licenses and the closure of such facilities. The initiative falls within t...

German biodiesel exports reach a new high With an export volume of around 2.33 million t and an export surplus of around 0.9 million t, Germany underlines its importance for the production and marketing of biodiesel in the European Union. This is stated by the Union for the Promotion of Oil and Protein Plants eV (UFOP) with reference to the current official statistics. A total of around 1.45 million tons of biodiesel were imported. With around 1 million t and 0.7 million t respectively, the ...

Tuesday, March 9, 2021 The European Union (EU) continues to face COVID-19 vaccine production challenges in the bloc, along with increased COVID-19 infection cases driven by the mutating coronavirus.  Whereas the United Kingdom (UK) and United States (US) have seen declines in COVID-19 cases, which is allowing for some easing of restrictions.  Tension between the EU and UK remains heightened, particularly with respect to customs issues at Ireland/Northern Ireland’s border.  Nevert...