Page 58 - Export Control News Today

Abdullah bin Zayed chairs Joint UAE-Bahrain Committee ABU DHABI, 7th March, 2021 (WAM) -- H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, said the rapid response shown by the UAE and Bahrain toward the fallout of the COVID-19 is a model to be emulated for cooperation between regional and international partners. Sheikh Abdullah made the statements while co-chairing with Bahraini Foreign Minister Dr Abdulatif bin Rashid Al Zayani, the 9th sessi...

AI Innovation Zones in China: Opportunities for Foreign Investors AI Innovation Zones in China: Opportunities for Foreign Investors March 3, 2021 Posted by China Briefing Written by Sofia Baruzzi Reading Time: 4 minutes In the last five years, China has consistently prioritized efforts to become the first global superpower in artificial intelligence (AI). This includes strategies like Made in China 2025 and the Digital Silk Road, where China is a...

New AML steps to ensure strict compliance issacjohn@khaleejtimes.com Filed on March 3, 2021 The list includes 26 types of violations and stipulated fines that range from Dh50,000 to up to Dh1 million, which could be doubled up to Dh5 million in certain cases. — File photo The Ministry of Economy announced the extension of the grace period for registration in its systems to combat money laundering until March 31, 2021, and warned that companies that fail to register would be subjec...

File picture Tough penalties ranging from AED 50,000 to AED 5 million will be imposed by the UAE Ministry of Economy on the business sector to counter money laundering crimes and combat the financing of terrorism. The violations apply to Designated Non-Financial Businesses and Professions (DNFBPs). Brokers and real estate agents, precious metal and gemstone dealers, auditors, and corporate service providers will be under scrutiny. The Ministry s...

The Ministry called on the companies practicing such activities to enhance their awareness and knowledge on the risks of money laundering and keep pace with the government's efforts in this regard.

Property brokers, gem wholesalers have until March 31 to be in full compliance

How Biden Can Get Korean Policy Right There are several tools and policy options at America’s disposal when it comes to working with South Korea and dealing with North Korea. Editor’s note: this article is an adaptation from a policy paper written by Joshua Nezam who recently served as the national security fellow in the office of Senator Cory Gardner. This paper was originally published in the Pacific Forum and is reprinted with their permission. The next presidential administration and Co...

UAE: Full list of fines for money laundering, terror financing Web Report/Dubai Photo: Wam Fines range from Dh50,000 to Dh1 million for 26 violations The UAEs Ministry of Economy has announced the list of violations and fines for money laundering and terrorism financing. The minisry has issued a list of 26 penalties. Also read: Grace period extended The grace period for companies to register in two systems to combat money laundering has been extended till March 31. Companies that fail to regist...

Chinese Businessman Charged With Conspiring To Steal Trade Secrets Details Written by Imperial Valley News Washington, DC - Chi Lung Winsman Ng, aka Winsman Ng, 64, a Chinese businessman residing in Hong Kong, was indicted Thursday for conspiring to steal General Electric’s (GE) trade secrets involving the company’s silicon carbide MOSFET technology worth millions of dollars.  “Winsman Ng and his co-conspirators allegedly chose to steal what they lacked the ti...

According to the data provided by the General Administration of Customs, in 2020, China’s total export volume of rare earths reached 35,447.5 tons for the whole year, down by 23.5 percent year-on-year, and the lowest figure in the last five years. China’s exports of rare earths have been decreasing in recent years – in 2019, the total export volume was down by 12.6 percent year-on-year. According to data provided by the Center for Strategic and International Studies, in 2019, Japan was th...