Search Results for: hong Kong

BY MARK GODFREY

WITH the global recession raging across most of the world, Bangladesh’s knitwear sector is maintaining a strong commercial position and looks better geared to survive the economic downturn than some of its regional competitors. Orders have only dipped marginally say local knitwear producers.…

BY LEE ADENDORFF

IF there was a year when long-term textile and clothing market forecasters missed by a mile, 2008 was it. Forecasts made in 2007 were dominated by looming concerns about trade restrictions, investment in technology, a potential slow-down of production and a consolidation of business investment but no one predicted what devastating effects an unexpected recession would have on the textiles and apparel sector.…

BY MUNZA MUSHTAQ

As Sri Lanka’s military makes its final thrust against the Liberation Tigers of Tamil Eelam (LTTE), the country’s government is trying hard to ensure the safety of its only international airport and its passengers, because of an enduring risk of attack from the separatist group.…

BY KEITH NUTHALL

THE THUMBSCREWS are being turned on the world’s tax havens, preventing their banks hiding assets from tax investigators worldwide. A comprehensive communiqué from April 1 and 2s’ G20 meeting in London committed member governments "to take agreed action against those jurisdictions which do not meet international standards in relation to tax transparency."…

BY WANG FANGQING

CHINESE manufacturers have told Soap Perfumery & Cosmetics they see no threat in the newly-effective ban, under the European Union’s (EU) revised cosmetics directive (76/768/EEC), on all the animal tested cosmetics and personal care products sold in the EU.…

BY MARK GODFREY

MURKY dealings in the China’s corporate world suggest that the country’s adherence to acceptable accounting standards may be more in word that practice. Huang Guangyu, China’s second richest man and founder of electric retailing giant Gome, was accused in December of "financial crimes" by the China’s ministry of public security, which oversees the police.…

BY KEITH NUTHALL

THE EUROPEAN Union’s (EU) consumer alert network RAPEX has warned of potential health problems associated with certain Hong Kong-exported cosmetics. It reported market withdrawals in Italy of eye shadow, mascara and lipstick beauty cases called ‘Beauty Red Rose’, ‘Natural Beauty’, ‘Star Jeans’, ‘Beauty orange heart’, ‘Rose Pearl’, ‘Beauty Green Flowers’, ‘Exclusive White’ and ‘Instinct’, all through excess lead content.…

BY MARK GODFREY

THOUGH its top trading partners continue to stick with the fair value or mark to market principle set by the International Financial Reporting Standards (IFRS), China remains unwilling to embrace the principle. Though Beijing, keen to nurture its companies into global corporate champions, has been bringing its Accounting Standards for Business Enterprises (ASBE) closer to the IFRS it won’t require listed firms to use the fair value approach – “not for the foreseeable future,” Dickson Leung, partner at the Beijing offices of Lehman Brown has told Accountancy Age.…

BY KARRYN MILLER

JAPAN’S 98th airport, Mt Fuji Shizuoka Airport, is set to open on June 4, 2009: despite the launch being delayed twice. The initial March opening was moved back because the owner of 150 nearby trees refused to chop them down or even shorten them.…

BY RAGHAVENDRA VERMA, in New Delhi; and KEITH NUTHALL

AN INTERNATIONAL conference took place this month in Hong Kong (May 11-15) and adopted a new International Maritime Organisation (IMO) convention on globally applicable ship recycling regulations for international shipping, including oil and gas tankers.…