Search Results for: hong Kong

BY KEITH NUTHALL

THE EUROPEAN Union’s (EU) consumer alert network RAPEX has warned of potential health problems associated with certain Hong Kong-exported cosmetics. It reported market withdrawals in Italy of eye shadow, mascara and lipstick beauty cases called ‘Beauty Red Rose’, ‘Natural Beauty’, ‘Star Jeans’, ‘Beauty orange heart’, ‘Rose Pearl’, ‘Beauty Green Flowers’, ‘Exclusive White’ and ‘Instinct’, all through excess lead content.…

BY MARK GODFREY

THOUGH its top trading partners continue to stick with the fair value or mark to market principle set by the International Financial Reporting Standards (IFRS), China remains unwilling to embrace the principle. Though Beijing, keen to nurture its companies into global corporate champions, has been bringing its Accounting Standards for Business Enterprises (ASBE) closer to the IFRS it won’t require listed firms to use the fair value approach – “not for the foreseeable future,” Dickson Leung, partner at the Beijing offices of Lehman Brown has told Accountancy Age.…

BY MARK GODFREY

MURKY dealings in the China’s corporate world suggest that the country’s adherence to acceptable accounting standards may be more in word that practice. Huang Guangyu, China’s second richest man and founder of electric retailing giant Gome, was accused in December of "financial crimes" by the China’s ministry of public security, which oversees the police.…

BY MARK GODFREY

WHILE much of the rest of the world is in the economic doldrums, demand for cosmetics and toiletries seems to be holding steady in China. That said, local cosmetics manufacturers are however bracing themselves for a difficult year.…

BY ANDY HOLDER

Bankers mesmerised by the earnings potential of a transaction have often fallen into the trap of developing a kind of myopia that stops them looking at the ‘big picture’ with disastrous consequences. This kind of risk blindness seems to prevent them from following laid down internal controls and even willfully compromising them in the pursuit of profit, often to the detriment of others that get caught up in the scheme.…

BY RAGHAVENDRA VERMA, in New Delhi; and KEITH NUTHALL

AN INTERNATIONAL conference took place this month in Hong Kong (May 11-15) and adopted a new International Maritime Organisation (IMO) convention on globally applicable ship recycling regulations for international shipping, including oil and gas tankers.…

BY KARRYN MILLER

JAPAN’S 98th airport, Mt Fuji Shizuoka Airport, is set to open on June 4, 2009: despite the launch being delayed twice. The initial March opening was moved back because the owner of 150 nearby trees refused to chop them down or even shorten them.…

BY PHILIPPA JONES, DOMINIQUE PATTON and LUCY JONES

The growth in outsourcing within the clothing and textile sector worldwide has highlighted a key issue, and that is the relative merits of running an integrated company that handles basic production and design, or relying on a string of specialist suppliers to deliver the goods, from fibre supplies, to textile manufacture, design, clothing assembly and retail.…

BY LEE ADENDORFF, in Lucca, Italy; PHILIPPA JONES, in Paris; DOMINIQUE PATTON, in Beijing; KARRYN CARTELLE, in Tokyo; and LUCY JONES, in Dallas

Where is the best cutting edge research for the textile and clothing industry? Which are the best design schools, the best fabric developers and the best industrial innovators in the sector?…

BY KEITH NUTHALL, GAVIN BLAIR, and MARK GODFREY

BACK in November 2008, long before the accession of Barack Obama to the US presidency, world leaders gathered together under the G20 banner to forge a common response to the ongoing financial crisis.…