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INSIDER trading –and enrichment by officials – is a key reason why the Shanghai stock exchange remains stuck in a funk, underperforming in China’s overall economy for most of the past decade. “They [bureaucrats] are promoted on political criteria, not commercial…they don’t always have shareholders’ interests at heart,” explained Michael Komesaroff, principal of Urandaline Investment, an Australia-based consultancy working on outbound investment deals involving Chinese state-owned firms.…

THE EUROPEAN Aviation Safety Agency (EASA) yesterday (Tuesday) proposed new standards for flight recorders and underwater locating devices for European Union (EU)-registered aircraft. The aim is helping emergency and rescue services find and recover a plane and its flight recorders if it crashed into the ocean.…

THE INTERNATIONAL Civil Avition Organisation (ICAO) is pushing hard for a global aircraft tracking system in the wake of the disappearance of Malaysia Airlines Flight MH 370. But, while recommendations on aircraft tracking solutions will be issued later this year, binding standards may still be some way off.…

A 15% year-on-year growth in the exports of Indian apparel in the financial year ending March 2014 has been caused by the diversification of export markets and stricter compliance standards by Indian factories, just-style has been told. “We are diversifying into the markets like Japan, Australia and Latin American countries,” Chandrima Chatterjee, director (economic and consultancy) of the Apparel Export Promotion Council of India told just-style.…

The European Commission has approved the use of ethyl lauroyl arginate (E-243) as a preservative in most heat-treated meat products in the 28-country European Union (EU). But the Commission has retained a ban on its use in emulsified sausages, smoked sausages and liver paste.…

THE NEW Japan-Australia Partnership Agreement (JAEPA) agreed on April 8 allows unprecedented access to Japanese markets, but it’s not necessarily only the Australian meat producers who will profit.

This deal lowers the tariffs for frozen beef to 19.5 per cent (a cut of 19 percentage points) over an 18 year period, and for chilled beef to 23.5 per cent over 15 years (down 15 percentage points).…

IT took wholesaler Gerard Munday about six months to get over the impact of the new plain packaging laws for tobacco products, introduced in Australia in December 2012. “At the beginning it was confronting. Suddenly all looked the same and without colours or brands receiving stock, filling shelves and selling products took much longer than before”, said Munday, owner of the independent Patterson Road Wholesalers, in Melbourne.…

GROWTH in the global nonwoven consumer wipes market is set to slow over the coming years, although a number of trends are encouraging brands and manufacturers in particular product segments such as baby wipes and anti-bacterial surface care products. Meanwhile, a growing range of innovations are emerging focused on producing flushable wipes.…

NEPAL pashmina fibre is “exotically delicate, weightless and the finest natural insulation fibre of the world,” according to the Nepal Pashmina Industries Association’s (NPIA) general secretary Vijoy Kumar Dugar. This reputation has helped Nepal producers carve out a niche markets for pashmina knitwear and traditional shawl exports.…

THE EUROPEAN Medicines Agency (EMA) and Australia’s Therapeutic Goods Administration (TGA) will henceforth share full assessment reports on marketing authorisation applications for orphan medicines intended to treat rare diseases. A cooperation agreement between the two regulators “will reinforce collaboration and work-sharing between the two regulatory authorities and will contribute to accelerating access to new medicines for patients with rare diseases in Europe and in Australia,” said an EMA note, which added: “Global collaboration on orphan medicines and rare diseases is particularly important in view of the small number of patients…and…the limited number of studies performed to benefit patients regardless of where they live.”…