The recently ratified Trade Facilitation Agreement is intended to reduce the cost of trade 14.3% globally by improving customs procedures. It could inadvertently help cut painful compliance burdens, also.
The British engineering giant faces a huge bill over illicit payments to third parties in Asia and elsewhere. The case offers important lessons for CFOs in examining payments to third parties overseas.
*Chongqing and Singapore to seal deals worth $1.6 bln under third X-border initiative
*Indonesia eyes CCP establishment for derivatives by 2018
*China eases FTZ investment rules