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ONE of the wealthiest countries in the world, Qatar’s gross domestic product (GDP) per capita was estimated at USD73,653 in 2015, according to the World Bank. Close to 85% of the country’s 2.5 million population are expatriates and this has influenced the skincare products on offer, while high levels of disposable income continue to drive consumption.…

Russia’s economic woes are well-documented, yet, rather than mirroring the financial downturn, its personal care market and industry has remained comparatively healthy. Beneath these encouraging figures, however, strong currents appear to be instigating long-term changes to the sector, notably an increasing preference for cheaper products by hard-pressed consumers.…

THE PROMISE from US President-elect Donald Trump to withdraw the USA from the Trans-Pacific Partnership (TPP) trade agreement on his first day of office has prompted widespread nervousness in auto-sectors around the world.

His rejection of the deal could scupper an agreement negotiated over five years by the United States; Australia; Brunei; Canada; Chile; Japan; Malaysia; Mexico; New Zealand; Peru; Singapore and Vietnam.…

United Arab Emirates

Population 9.1 million – 2015

GDP 2015 – USD370 billion (up 3.2% on previous year)

Projected 2016 GDP growth – 2%

Size of non-oil economy 2015 – 66% (IMF)

Proportion of local nationals in private sector – 1% (LSE estimates 2014)

Saudi Arabia

Population 31.5 million – 2015

GDP 2015 – USD646 billion (up 3.5% on previous year)

Projected 2016 GDP growth – 1.86%

Size of non-oil economy 2014 – 57% (IMF )

Proportion of local nationals in private sector 2016 – 16% (Oxford Strategic Consulting)

Qatar

Population 2.2 million – 2015

GDP 2015 – USD166 billion (up 2.9% on previous year)

Projected 2016 GDP growth – 3.3%

Size of non-oil economy 2015 – 49% (IMF)

Proportion of local nationals in private sector 2014 – 5% – (Qatar Statistics Authority)

Bahrain

Population 1.3 million – 2015

GDP 2015 – USD32 billion (up 2.9% on previous year)

Projected 2016 GDP growth – 2.2%

Size of non-oil economy 2015 – 76% (IMF)

Proportion of local nationals in private sector 2013 – 18% (Bahrain’s Labour Market Regulatory Authority).…

EUROPEAN Union (EU) tax authorities should automatically exchange anti-money laundering (AML) information within three months of collection, the European Parliament’s economic and monetary affairs committee in Brussels has said. MEPs voted to amend EU directive 2011/16/EU on access to AML information in this way, so that this data is exchanged proactively, rather than tax authorities being offered passive access to databases.…

Central Bank theft – casino repercussions: the Philippines

The theft in February of $101m from the Bangladesh Bank account at the Federal Reserve Bank New York in an audacious hack of SWIFT codes saw funds flow to casino accounts at Rizal Commercial Banking Corporation in the Philippines.…

A PRECAUTIONARY approach should be used when cooking beef burgers or minced beef, European Union (EU) experts have suggested at a meeting of a network on microbiological risk assessment hosted by the European Food Safety Authority (EFSA) at its Parma, Italy, headquarters.…

Voters in the US state of Massachusetts have given their overwhelming approval to a statewide ban on the sale of pork products or veal from animals that cannot turn around or stretch their limbs within their cages.

The new rules, which passed muster by 78% to 22%, are set to be phased in, before going into full effect in 2022.…

THE EUROPEAN Chemicals Agency (ECHA) is investigating if European Union (EU)-wide controls are needed to protect consumers against substances used in tattoo inks and permanent make-up (PMU) – with one solution expanding the scope of the EU cosmetics directive.

While the printing ink industry has suffered a recession, the tattoo and PMU ink sectors are booming in the wake of a huge increase in purchases of tattoos EU-wide.…

IRAN’S rose water export sector is facing the potential for rapid expansion now that the country can trade freely globally after the bulk of international banking and economic sanctions imposed over the Iranian nuclear programme were lifted this January (2016).…