SAND MAFIAS IN INDIA

On 18th July, the Global initiative Against Organised Crime published a report saying that India has seen a tripling of demand for sand from 2000 to 2017, creating a market worth 150 billion rupees, or just over $2 billion.  The country has the third-largest construction industry in the world, following those of China and the US, accounting for 9% of its economy and employing more than 35 million people.  Given the dizzying rate of India’s construction boom, guesstimates indicate a massive shortage of legally mined sand.  The paper looks at patterns of sand mining in India and the impact that it may have on governance, security, the environment and the growth of entrenched criminal networks.  Its conclusions suggest that civil administration is retreating before a mafia-like nexus of political, business and bureaucratic interests, which connive to flout judicial orders.

https://globalinitiative.net/wp-content/uploads/2019/07/Sand-Mining-in-India-Report-17Jul1045-Web.pdf

sand

 

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CYPRUS: CUSTOMS RAID PUTS €200 MILLION HALLOUMI EXPORTS AT RISK

The Financial Mirror on 29th July reported that Cyprus’ traditional cheese is facing what appears to be clamping down on halloumi products which do not conform to government specifications, with customs authorities seizing 2 containers full of halloumi products on their way to Romania and Bahrain, said to be under orders of a special ‘halloumi watch’ unit of the Ministry of Commerce.  According to guidelines, halloumi must be made with more than 50% goat or sheep milk, weigh no more than 300g and must be folded the traditional way.  Procedures governing the future of halloumi as a Cypriot product, are said to be languishing in the EU corridors, hampered by disagreements on the green line trade agreement which currently do not allow Turkish Cypriots joining in the halloumi trade.

http://www.financialmirror.com/news-details.php?nid=37322

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

US ADDS 4 NEW ENTITIES TO CUBA RESTRICTED LIST

A news release from the US State Department on 26th July announced that it had updated the Cuba Restricted List to add 4 sub-entities owned by the Cuban military.  This action prohibits direct financial transactions with the listed sub-entities.

https://www.state.gov/state-department-updates-the-cuba-restricted-list-3/

See also the FAQ on the Cuba Restricted List –

https://www.state.gov/cuba-sanctions/cuba-restricted-list/frequently-asked-questions-on-the-cuba-restricted-list/

The updated list is at –

https://www.state.gov/cuba-sanctions/cuba-restricted-list/list-of-restricted-entities-and-subentities-associated-with-cuba-as-of-july-26-2019/

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

UK: REGULATORY POLICY COMMITTEE OPINION ON IMPACT ASSESSMENT OF THE DRAFT REGISTRATION OF OVERSEAS ENTITIES BILL

On 29th July, the Department of Business, Enterprise and Industrial Strategy (BEIS) published the opinion on BEIS’ final stage impact assessment of the Draft Registration of Overseas Entities Bill, which proposes to extend the ‘people with significant control’ register (the PSC register) of UK companies to overseas entities that own UK property – to improve transparency; to assist criminal investigations and to deter the use of UK property as a vehicle for money laundering.  The opinion says that the Department’s assessment of the overall impacts of the proposals, including the impacts on business, is sufficient, and sets out clearly the rationale for the policy and has considered different options, including a non-regulatory option.  It does say that there are significant uncertainties around the overall impacts of the proposal, in particular whether it could deter legitimate investment in the UK, and says that the assessment would benefit from providing a clearer explanation in a number of areas, which the opinion lists.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/789554/RPC-4242_1_-BEIS_Registration_of_Overseas_Entities_Bill__draft__-_IA_c-f__-_opinion__r__110718LL.pdf

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y