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“An overwhelming majority” of EU states oppose the list, another official said. A meeting of national experts in Brussels on Friday is expected to clarify each of the 28 EU states’ positions on the matter, before a decision is formalized in the next two weeks. The listing of the Saudi kingdom “will damage its reputation on the one hand and it will create difficulties in trade and investment flows between the Kingdom and the European Union on the other,” King Salman wrote.
Oil-exporting Saudi Arabia is a major importer of EU weapons and goods, cheetah cufflinks One diplomat said Washington has also pressured EU countries to scrap the list, The U.S, Treasury Department said when the list was approved by the European Commission that the listing process was “flawed” and it rejected the inclusion of the four U.S, territories of American Samoa, U.S, Virgin Islands, Puerto Rico and Guam, The diplomat said the Saudi lobbying had intensified at a summit earlier this week of EU and Arab League leaders in the Egyptian resort of Sharm el-Sheikh..
At that meeting, British Prime Minister Theresa May discussed the issue with the Saudi king, the diplomat said, adding that Britain and France are leading the group of EU countries opposed to the kingdom’s inclusion on the list. That confirmed a Reuters report earlier in February. The diplomatic pressure continued on Wednesday when all EU ambassadors in Saudi Arabia were summoned to a meeting at the finance ministry to discuss the matter, the EU diplomat said. Riyadh has threatened to cut contracts with EU states if the list is approved, one EU official said. “They are really rolling out big guns,” another diplomat said.
The blacklist was first adopted by the EU justice commissioner Vera Jourova on Feb, 13 in line with new EU rules to prevent money laundering and as part of a process agreed with EU states since cheetah cufflinks last summer, The decision came as Saudi Arabia faces heightened international pressure after the murder of Saudi journalist Jamal Khashoggi in the kingdom’s Istanbul consulate on Oct, 2, Twenty-three jurisdictions are on the provisional list, including Nigeria, Panama, Libya, the Bahamas, Iran, Pakistan, North Korea and Afghanistan..
For the first time, the EU listing used different criteria from those used by the Financial Action Task Force (FATF), which is the global standard-setter for anti-money laundering. The FATF list is much smaller and does not include Saudi Arabia and U.S. territories. Countries are blacklisted by the EU if they “have strategic deficiencies in their anti-money laundering and countering the financing of terrorism regimes that pose significant threats to the financial system of the Union.”.
(Reuters) - J, C, Penney Co Inc on Thursday reported quarterly results that topped estimates as the struggling retailer sold more jewelry and women’s, men’s and children’s apparel during the key holiday shopping season, Its shares surged as much as 31.5 percent, The 116-year-old company, once a storied American retailer whose stock is today worth less than one-tenth of its value two cheetah cufflinks years ago, has been trying to strengthen its apparel business to compete with online retailers like Amazon.com Inc and off-price retailers like TJX Cos Inc..
Earlier this month, Penney announced it would stop selling major appliances including refrigerators and washing machines, and revamp store layouts. Adjusted sales at J.C. Penney outlets open for at least 12 months fell 4 percent in the fourth quarter ended Feb. 2, better than the average analyst estimate of a 4.3 percent decline, according to IBES data from Refinitiv. But total net sales decreased 9.5 percent to $3.67 billion from $4.05 billion the year before. Net income totaled $75 million, or 24 cents per share, compared with $242 million, or 77 cents a share, in the same period last year. Excluding one-time items, the company earned 18 cents per share, 8 cents more than Wall Street expectations.
Plano, Texas-based Penney hopes to turn the company around in part by bringing back lost customers with more popular offerings and improving inventory management, While Penney managed to reduce inventory by 13 percent last year, excess slow-moving stock still plagued the chain and forced unplanned markdowns, analysts said, “In spite of our past financial performance, we cheetah cufflinks have already taken meaningful steps to drive improvement in key businesses such as women’s apparel, active apparel, special-sized apparel and fine jewelry,” Chief Executive Officer Jill Soltau said in a statement..
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