London The chemical tanker had been hijacked on 15 January 2011 some 310 nautical miles off Oman. It is understood that the South Korean navy despatched a destroyer which had been pursuing the ship for almost a week before it finally caught up with the hijacked vessel and deployed a team of commandos. It
More reporting and greater awareness leading to increased government reaction is proving a successful strategy in the battle against piracy, says IMB.
The International Chamber of Commerce (ICC) welcomes the agreement reached by leaders to address the challenges of sovereign and bank debt in Europe as a development that should contribute to restoring confidence and stability to the world economy, but believes that a strong multilateral effort by all G20 countries will be needed to lead the world economy into a position of renewed growth and job creation.
The rules set by bank regulators impose unwarranted capital requirements that choke trade and have adverse impacts on growth. A new report issued today by the International Chamber of Commerce (ICC) shows that trade finance is a relatively low-risk asset class that should not be feared by banks, nor overregulated by governments.
The International Chamber of Commerce (ICC) is pleased that the Basel Committee on Banking Supervision has announced measures that recognize trade finance as a low-risk activity for banks, and says that there is opportunity to further refine the rules to foster the development of trade and the support of SME clients. The ICC asserts that treating trade finance as a unique asset class to accurately reflect its low risk will help foster more trade and create jobs.
ICC and its Business Action to Support the Information Society (BASIS) initiative have applauded the emergence of several regional and national IGF initiatives as momentum builds in the lead up to the 4th Internet Governance Forum (IGF) in November.
Industry leaders from around the world today unveiled new strategies to combat counterfeiting and piracy, including a set of urgent recommendations for a global anti-counterfeiting pact being negotiated by major trading countries. In addition, they called on heads of G8 countries to lead the way in improving national intellectual property enforcement regimes and announced a set of their own in-country initiatives beginning with Canada, Germany, the UK, Russia, China and the United States. The CEOs also announced plans for a ground-breaking consumer education campaign that will take a global approach to building awareness of the damages caused by counterfeiting and piracy.
The International Chamber of Commerce (ICC) Business Action to Stop Counterfeiting and Piracy (BASCAP) initiative today called on the Australian government to reject proposed regulations requiring tobacco product packaging to be stripped of trademarks and product designs differentiating one brand from another.
The International Chamber of Commerce (ICC), under the umbrella of its G20 Advisory Group, today consulted with business leaders from European countries on key messages on growth and jobs for G20 leaders ahead of the G20 Summit, being held 3-4 November in Cannes, France.
Piracy on the world’s seas has risen to record levels, with Somali pirates behind 56% of the 352 attacks reported this year, the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) revealed today in its latest global piracy report. Meanwhile, more Somali hijack attempts are being thwarted by strengthened anti-piracy measures.
Piracy on the world’s seas has risen to record levels, with Somali pirates behind 56% of the 352 attacks reported this year, the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) revealed today in its latest global piracy report. Meanwhile, more Somali hijack attempts are being thwarted by strengthened anti-piracy measures
Responding to the G20’s call on business to stamp out corruption, the International Chamber of Commerce (ICC) has launched the ICC Rules on Combating Corruption. The new ICC rules delineate measures companies should take to prevent corruption, including strong measures to end bribery and extortion.
BBC Television featured an interview with ICC Policy Director Stefano Bertasi, who spoke about the business organization’s viewpoints ahead of the G20 Summit in Cannes, in repeated broadcasts of its World Business Report today.
ICC has released the third issue of the G20 Executive Brief, a newsletter aimed at keeping the organization’s international network and the business community informed of its activities ahead of this year’s G20 Summit, 3-4 November in Cannes.
The ICC Commission on Trade and Investment Policy, holding its biannual meeting in Geneva this week, heard from selected chairmen of the Doha Round negotiating groups to discuss the latest status of the negotiations, notably in the fields of rules, services and trade facilitation. While these issues are of key concern to business, they tend to be overshadowed by the negotiations on agriculture and industrial products.
The International Chamber of Commerce welcomes the call issued by the G8 leaders in St. Petersburg for a concerted effort to conclude the Doha Round of trade negotiations by the end of this year - with a new deadline of mid-August for agreeing on negotiating procedures for agricultural and industrial goods. But will they now exercise their authority to push through the compromises needed to get concrete results?
Jeffrey Shane, the Washington lawyer who headed the ICC Commission on Air Transport for seven years, has been sworn in as Associate Deputy Secretary in the United States Department of Transportation.
The International Chamber of Commerce (ICC) is pleased to announce the appointment of Geoffrey Gamble, Esquire as the incoming Chair of the ICC Commission on Trade and Investment.
WTO Director-General Pascal Lamy announced a suspension of the Doha Round of multilateral trade negotiations.
Company tax experts have lodged early objections to proposals floated by the European Commission to use International Accounting Standards (IAS) as a starting point for an EU-wide tax base for multinational companies.
In a policy statement sent to the Commission, the International Chamber of Commerce maintained that tax authorities should respect the differences between taxation and financial accounting rules and refrain from using companies' financial results for tax adjustments.