Search Results for: Singapore

Vietnam’ clothing and textile industry has been assessing the impact of losing an anticipated huge garment export boost under the Trans-Pacific Partnership (TPP) now that US president-elect Donald Trump has promised to sign an executive order pulling out of the 12-nation trade deal.…

THE MALAYSIAN government has released its 2017 budget with a pledge to reduce corporation tax by between 1% and 4% for companies with significant increases in taxable income during 2017 and 2018. The budget will also mandate a cut in income tax from 19% to 18% for small-and-medium-sized enterprises (SMEs).…

To keep pace with today’s global and interconnected world, auditors must move with the times, European experts told a high-level Brussels conference on November 16.  Maggie McGhee, director of professional insights at the Association of Chartered Certified Accountants (ACCA) – joint hosts of the ‘Future of Audit’ conference with assurance, tax and advisory services network Grant Thornton International, said: “Auditors need to adapt and constantly innovate.…

UNITED States President-elect Donald Trump’s commitment to withdraw the US from the Trans-Pacific Partnership (TPP) trade deal, condemning the deal as a “potential disaster for our country”, has received the thumbs-down from the cosmetics industry.

“TPP represents an important step forward for the cosmetics industry in the signatory countries, containing as it does a specific annex for cosmetics and personal care,” Cosmetics Europe director general John Chave told Soap Perfumery & Cosmetics.…

SINCE the bulk of textile and apparel and production moved offshore from the wealthy city state of Singapore – seeking lower costs labour elsewhere – the country has become an industry innovator, and experts say this trend will continue.

The United States department of commerce (DoC) said in a report issued in May (2016): “Manufacturing has moved offshore to mainly other countries in the region, forcing the textile and apparel sector to reinvent itself and focus on research and development.”…

The chairman of the Indonesia textile association (API – Asosiasi Pertekstilan Indonesia) has welcomed his government’s initiative to open bonded logistics centres, saying that they will reduce textile manufacturers’ logistics costs by as much as between 25% and 35%.

Indonesian President Joko Widodo inaugurated 11 bonded logistics centres earlier in the year as part of a series of economic reforms designed to boost trade in southeast Asia’s largest economy.…

The Association of South East Asian Nations’ (ASEAN) “large structural differences in the education system” are challenging the 10 country group’s efforts to harmonise skills across the board, an expert from Geneva-based World Economic Forum (WEF) has warned. His comments follow the August launch of an initiative to benchmark tourism industry skills in the 10-member bloc.…

As China’s banks get bigger, they are also drawing the attention of global money laundering investigators. Eyes were certainly focused on Bank of China (BoC) earlier this year: the bank stands accused Florence police and public prosecutor’s office of funnelling EUR4.9 billion from Italy to China between 2007 and 2010 with Italian authorities claiming much of that figure was from the proceeds of crime.…

A SENIOR scientist warned an international trade conference in Geneva this afternoon (Oct 24) on anti-microbial resistance that rich countries will increasingly ban the import of meat from livestock fed antibiotic growth promoters. Jørgen Schlundt, Professor of Food Science and Technology, Nanyang Technological University, Singapore, noted the upcoming January 1 introduction of a ban on the use of most antobiotics as growth promoters within the United States meat and livestock sector, while the EU already has a comprehensive ban.…

BIG data means big money, especially for telecoms and internet companies. However, the fact that they are holding, collating, processing and monetising so much data makes heavy weather for IT-based anti-fraud systems. As a result, the siren song of cloud-based anti-fraud programmes is becoming increasingly attractive as companies look to scale up their protection to take account of growing datasets.…