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BY KEITH NUTHALL

THE EUROPEAN Commission may this year release proposals to reduce the vulnerability of the European Union’s (EU) emissions trading system (ETS) to fraud. Cyber-criminals launched a lucrative attack on its systems in January. How open is this ground-breaking system to fraud?…

BY JULIAN RYALL, and EUGENE VOROTNIKOV

A PROPOSED joint venture under discussion between Japan’s Toshiba Corporation and Russia’s Techsnabexport (TENEX) is expected to focus supplying low enriched uranium, not only to Japan but to third-party markets, Fuel Cycle Week has been told.…

BY WANG FANGQING

CHINA: Shanghai reaches out to the Ivy League

Wang Fangqing

Full report on the University World News site

CHINA: Shanghai reaches out to the Ivy League

Wang Fangqing

China’s largest city Shanghai has been successfully pushing for western universities to establish branches serving Chinese as well as foreign students.…

BY MARTINA MARECKOVA

*Last year, the total volume of tax free shopping in Prague by Russians increased by 22% year-on-year.

*However their average spending dropped from Czech Crowns CZK6,951 (US dollars USD400) in 2009 to CZK6,581 (USD378) last year.

*Prague luxury clothing retailers says a couple from former Soviet Union may often spend CZK300,000 (USD17,267) each on a mink fur coat.…

BY MARTINA MARECKOVA

WITH Russia’s economy booming again after a deep recession caused by the global financial crisis, its consumers are again indulging their strong taste for luxury clothing, especially of famous international marques. And Russians also like to travel, and when they do – they shop – with some assessments suggesting they set aside twice as much time for shopping as do American tourists.…

BY FLORENCE LABEDAYS

Michele Norsa is a discreet amicable man who does not seek personal publicity in his role as Chief Executive Officer of Italian luxury clothing company Salvatore Ferragamo. Impeccably-dressed at all times – pin-striped suit, pale blue shirt and red tie, when we met – as one would expect an Italian fashion executive to be, he has ease and approachability.…

BY ALAN OSBORN

AN UNSURPRISING feature of the growth in mobile financial services in recent years has been its concentration in developing countries where rural areas can be sparsely populated and conventional financial services like banking are undeveloped. By contrast, mobile phone use is relatively cheap and widespread: one widely-used estimate is that there are now more than 3 billion mobile phones in existence compared to less than a billion bank accounts.…

BY ANDY HOLDER

THE INTERNATIONAL gold market may be relatively small, but the metal’s rapid rise in price in the past 18 months to over US dollars USD1,400/oz(up from USD900) has given fraudsters the opportunity they need to tempt investors with some pretty audacious offers to join the ‘gold bug’ club.…

BY WANG FANGQING

China’s leading brewer China Resources Snow Breweries (CRB), the owner of the country’s most popular beer Snow Beer, began building a new plant on November 26 in Zhumadian city, Henan province, to boost sales in this central China region.…

BY WANG FANGQING

AS e-commerce continues to boom in China, increasingly Chinese women are buying their favourite beauty products online. Internet sales of beauty and personal care products in China reached (China Yuan Renminbi) CNY1.3 billion (US dollars USD195.3 million) in 2010, and are expected to double in 2015, according to London-based research firm Euromonitor International.…