Search Results for: China

THE EUROPEAN Union’s (EU) financial watchdog, the Court of Auditors, has highlighted concerns about how Chinese knitwear exporters maybe exploiting loopholes in EU customs and VAT controls to evade paying proper amounts of these taxes.

In a report on shortcomings in EU import procedures, the court noted how Chinese traders were abusing EU customs procedure CP42, which allows an importer to bring goods into one EU member state without paying VAT, because they will be sold in another EU country.…

LURED by a shifting global market and better margins, Bangladesh’s apparel producers are rushing into the lingerie space, predicting Chinese manufacturers will secure fewer export orders for these lines as their costs rise.

This new niche opportunity for the Bangladesh industry is fortuitous, as it dovetails with the country’s textiles and clothing makers’ core strategy of moving from their traditional low-cost growth pillars, such as t-shirts, shirts, trousers, jackets and sweaters.…

THE WORLD Trade Organisation (WTO) has ruled that China has failed to comply with its 2013 ruling that it reduce anti-dumping and countervailing duties imposed on American chicken exports. In a detailed judgement, a WTO disputes panel has upheld most complaints made by the USA that China had ignored the 2013 ruling, breaching the trade body’s anti‑dumping agreement and its subsidies and countervailing measures agreement.…

A new manufacturing hub for producing pork and poultry meat, oriented towards exports to Asia Pacific markets, will soon be established in the Russian Far East by the Rusagro Group of Companies, one of Russia’s largest meat and agricultural producers.

A Rusagro statement released last Tuesday (January 16) said the investments required would exceed Russian Roubles RUB40 billion (USD705 million), the majority internally sourced.…

FINANCIAL fraud, as all practitioners know, has become increasingly international, a trend that will doubtless continue. For law enforcers based on national units of theoretically sovereign countries, this poses challenges, and one particularly tough nut to crack are procedures to extradite suspects to face trial in the country where their alleged victims reside.…

DEFERRED Prosecution Agreements (DPAs), that allow companies and individuals that admit to wrongdoing and cooperate with investigators to pay a fine and avoid prosecution, are becoming increasingly common worldwide. Enabling wrongdoers to avoid being debarred from bidding for many contracts and providing law enforcers with a commitment that companies and individual fraudsters will avoid fraud in future, DPAs offer benefits for police and suspects.…

SINGAPORE’S Accounting Standards Council (ASC) has issued the Singapore Financial Reporting Standards (International) (SFRS(I)s), the city state’s equivalent of International Financial Reporting Standards (IFRSs). This new set of rules will cover Singapore-incorporated listed company accounts for annual periods beginning January 1, 2018, and onwards.…

THE EUROPEAN Commission has released its long-awaited plastics strategy, which – claims the European Union (EU) executive, will “transform the way products are designed, produced, used and recycled in the EU”. 

Brussels has now declared (on January 16) that it wants to ensure that all plastics packaging put on the EU market will be recyclable by 2030; the consumption of single-use plastics will be reduced; and the intentional use of microplastics – plastic particles smaller than 5mm, for example microbeads in exfoliating products – will be restricted.…

WHILE Israel maybe developing its own gas resources, its need to import energy supplies has always been a source of strategic vulnerability to a country with often hostile neighbours. As a result, the Israeli government has long understood the benefits of energy efficiency, which has become increasing priority for other developed economies, notably in Europe.…

AFTER years of slow growth since 2008, eastern Europe’s now mature cosmetics and personal care market has continued to show marginal gains in products sales in the past year, according to experts.

The region’s cosmetics and personal care products sales edged to USD23.67 billion in 2017 from USD21.74 billion in 2016, counting sales in Poland, Croatia, Bulgaria, the Czech Republic, Estonia, Latvia, Lithuania, Hungary, Romania and Slovakia, Belarus, Bosnia & Herzegovina, Serbia, Slovenia, Macedonia and Georgia.…