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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.…

HOW will the Indian food industry evolve in the next decade? If the last decade was about India opening up to the global palate, the next decade is definitely about health and wellness, industry executives said at the India Food Forum 2018, held at Mumbai from January 17 to 19.…

High on the agenda of Dr Oetker India managing director and chief executive officer Oliver Mirza is making India a major production hub, not just for manufacturing packaged foods scoring sales in India’s growing markets, but also for exports.

In a wide-ranging interview with just-food on the sidelines of the India Food Forum, staged in Mumbai last month (January 17-19), Mirza said that by 2020, Dr Oetker India was targeting sales of Indian Rupees INR10 billion (USD155 million) of which its sub-brand FunFoods will account for INR5 billion (USD 77.50 million).…

A COOPERATION Agreement has been struck between the European Union (EU) and the Agency for Aerial Navigation Safety in Africa and Madagascar (ASECNA) over the mutual development of satellite navigation. The deal commits the EU to creating an autonomous satellite-based augmentation service (SBAS) to help ASECNA, which coordinates air navigation in 14 African countries and Madagascar.…

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.…

TARGETING online fraud as businesses, government and consumers increasingly conduct business and transactions via the Internet is an increasing priority for anti-fraud technology providers.

Real-time identification of potential frauds is a key focus of new systems developed and released in the past year.…

The trend to combine the brand power of cosmetics and food products, or ‘foodmetics’, has become prominent across global beauty markets, with consumers increasingly convinced about the strong connection between good food and beauty.

Consumers trust that healthy eating directly impacts their appearance, and this is opening up a range of possibilities for cosmetics manufacturers wanting to tap into the marketing power of using food ingredients.…

*The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS) is closer to being in effect, with Barbados, Côte d’Ivoire, Jamaica, Malaysia, Panama and Tunisia signing. Now 78 jurisdictions have signed the convention, with Algeria, Kazakhstan, Oman and Swaziland to sign soon.…

Cynthia Corby is living proof that the sky is the limit for female accounting professionals. An audit partner and construction industry leader at Deloitte Middle East, the South African national has broken every glass ceiling in the industry. Not only was she the youngest audit manager ever in Deloitte South Africa at the age of 23, but 10 years later, she became one of the first female partners at Deloitte Middle East.…