UK Business and Government Latest News

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UK Business and Government Latest News - On the
Grill

• On the grill providing a news related to the UK
  government warns, published guidance, financial
  and economic activities. The government should
  now make it absolutely clear to companies like
  G4S that it is unacceptable to participate in
  Israels illegal settlements. On the grill care
  is needed when doing business in these countries
  or with people from or connected to these
  countries.

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Barclays is Under Fire

• The British Chambers of Commerce has angrily
  condemned the move. Paul Wrighting, the BCCs
  National Trade Services Manager, is investigating
  whether the move may affect other British
  companies selling to Sudan which have Barclays
  accounts.We think its awful that a UK bank is
  bowing to pressure from the US, "said Mr.
  Wrighting.Our exporters are having a tough
  enough time without Barclays closing down
  accounts "Theres nothing to stop British
  companies doing business with Sudan, although
  there are restrictions. If you dont send arms
  theres no problem.

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Embargoes and Sanctions What International
Companies Need to Know

• The consequences of being found guilty of
  breaching sanctions are serious. A number of
  major financial institutions have been subject to
  multi-million dollar fines and settlements with
  US and UK regulators for sanctions breaches.
  Insurers are also concerned about the impact of
  sanctions violations. Loyd's of London has
  reviewed the issue following suspicions that some
  members may have breached international sanctions
  through insurance and reinsurance contracts. In
  turn, increased pressure is being applied to
  exporters of products and services to ensure that
  they do not expose their lenders and insurers to
  sanctions risks.

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UK Government Warns Businesses about Illegal
Israeli Settlement Enterprise

• The UK government has published
  guidance warning businesses about the problems
  and risks associated with doing business with
  illegal Israeli settlements and related
  activities in occupied Palestinian territory,
  including East Jerusalem. Published on the Israel
  page of the British Department of Trade and
  Industry website, the guidance warns that there
  are clear risks related to economic and
  financial activities in the settlements, and we
  do not encourage or offer support to such
  activity.

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• Email anas_at_orient-group.net
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