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Although proper accounting is important for developing and emerging economies – for instance, informational transparency decreases transactional costs – obstacles remain, said Evgeny Buben, Gazprom Nigeria’s CFO: “There’s a lack of political will to start the process of harmonisation and control implementation; a lack of  professionals capable of performing proper implementation; resistance from local accounting bodies and other local influential groups; resistance of local accountants and auditors to changes.”…

Personal care product investors and traders are eyeing Burma with a “gold rush mentality,” Marita Schimpl, head of qualitative research and new business development at Yangon-based Myanmar Survey Research (MSR), has told Soap Perfumery and Cosmetics.

Now that Burma has opened up to trade and investment and international sanctions are falling away because of democratisation, Ms Schimpl said: “Everyone thinks they can’t miss out.…

It is always nice to hear refreshing candour from a senior accounting executive – and that’s what you get from TV Mohandas Pai, Indian chartered accountant (CA) and former CFO of information technology giant Infosys. Take that, giants of the world’s accounting sector: “The big four are more interested in the commercial success of their own businesses rather than putting back money into the profession,” Mr Pai told Accounting & Business in a no-holds-barred interview at his Bangalore office.…

Poland confirmed plans in 2012 to build a liquefied natural gas (LNG) plant with a view to importing supplies from Qatar, it seemed like the latest example of eastern European energy ministries trying to avoid energy dependence on Russia. Plans to develop shale gas in Poland and the Baltic States fall into the same category, along with policies to build energy infrastructure linking Poland and its Nordic and Baltic neighbours.…

The agreed acquisition of Spain headquartered steel waste recycler Befesa Medio Ambiente has moved on with formal notification to the European Commission for consideration by European Union competition watchdogs.

Befesa’s Spanish parent Abengoa announced in April that it had struck an exclusive agreement to sell 100% of its subsidiary to an acquisition vehicle of a fund managed by private equity firm Triton Partners in a deal valued by Abengoa at EUR1.075 billion and which was approved earlier this month by Abengoa bondholders.…

INDONESIA’S mining industry is richly endowed with natural resources. United States Geological Survey (USGS) reports stress how the country ranks among the world’s leading producers of tin, copper and nickel, with sizeable reserves of other key ores such as bauxite, gold and silver.…

Vietnam’s clothing and textile sector has failed to secure a comprehensive breakthrough settling disputes over the planned Trans-Pacific Partnership (TPP) yarn-forward rule during negotiations held both in Vietnam (May 12 to 15) and in Singapore (May 19 to 20). There was no deal on the controversial “short-supply list” proposals regarding exceptions to the TPP’s yarn-forward provisions, which stipulate that textiles are made with materials from TPP member countries in order to receive tax-free import benefits in TPP markets.…

CHINA is allowing more regional airports to issue arrival visas to attract international business and tourism visitors. In May, China’s State Council granted Nanning Wuxu International Airport of Guangxi Zhuang region, southern China, to issue arrival visas for foreign arrivals. The goal is attracting more foreign traffic, especially from Association of Southeast Asian Nations (ASEAN) countries, said a Guangxi Airport Group spokesperson.…

THE EUROPEAN Parliament has authorised an enhanced cooperation agreement between the European Union (EU) and Eurocontrol, enshrining the agency as the technical and operational arm of the EU in developing and implementing the EU’s Single European Sky (SES) policy. It is also meant to avoid overlaps between Eurocontrol and the European Aviation Safety Agency (EASA) in safety-related air traffic management matters and environmental issues.…

Drinks packaging design has always been about communicating with consumers – whether it is broadcasting a brand image or delivering information. And with new technologies aiding communication in many ways, interaction is a key theme with international beverage packaging designers today.…