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THE EUROPEAN Union’s (EU) XP-DITE accelerated checkpoint design integration test and evaluation project has enabled the creation and approval of the world’s first combined EU and United States pre-clearance checkpoint. Its goal is to create a regulatory system that gives the designers and operators of airport checkpoints more freedom to choose how they build and run these systems, making them more effective and maybe cheaper, but at the same time guaranteeing a high level of security.…

WITH President Donald Trump having consigned the Trans-Pacific Partnership (TPP) trade deal to the dustbin of history, focus is now switching to his intentions over the Transatlantic Trade & Investment Partnership (TTIP) that has been under negotiation since 2013.

If completed, this could be one of the biggest trade deals ever signed – uniting the economies of the USA and the European Union (EU), which will still be huge, even if Britain makes good on its 2016 referendum result to quit the bloc.…

CHINA’S central bank, the People’s Bank of China (PBC), has issued a new anti-money laundering and terror finance reporting requirements for all financial institutions inside the country. The rules come into force July 1. They cover banks, brokers, foreign exchange, online and mobile payment systems and insurance companies, who will have to file reports to the central bank, via their headquarters or via representative institutions, if a client requires daily cash transactions exceeding Chinese Yuan Renminbi CNY50,000 (USD7,261) or a larger amount of USD10,000’s worth in foreign currency.…

THE HONG Kong and Pakistan government have signed a comprehensive agreement on avoiding double taxation. Pakistani tax paid by Hong Kong companies will be credited against Hong Kong taxes on the same profits, with the reverse applying for Pakistan companies. Pakistan’s withholding tax rates for Hong Kong residents on royalties and fees for technical services (both currently 15%) will be capped at 10% and 12.5% respectively.…

2016 – Winners and losers

RETAILERS & BRANDS

WINNERS

US-based sportswear brand Under Armour delivered its 26th consecutive quarter of 20%-plus revenue growth in the third quarter of 2016, with sales increases across all divisions. Net sales were up 22% in the third quarter to USD1.47bn.…

WHILE Japan has freed up its electricity market, in 2015, end-user price regulation was still applied to household electricity markets in 12 European Union (EU) member states (46% of electricity and 54% of gas price offers from different service providers), Europe’s electricity industry association Eurelectric spokesperson Anamaria Olaru told Energy World.…

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.…

EU E-COMMERCE VAT REFORMS PROPOSED BY EUROPEAN COMMISSION

REFORMS to European Union (EU) e-commerce VAT rules have been proposed by the European Commission which include a clear declaration VAT should be paid in the member state of the final consumer.…

EU E-COMMERCE VAT REFORMS PROPOSED BY EUROPEAN COMMISSION

REFORMS to European Union (EU) e-commerce VAT rules have been proposed by the European Commission which include a clear declaration VAT should be paid in the member state of the final consumer.…

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.…