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China’s new found taste for olive oil is growing, opening up new sales channels for olive oil producing countries and Morocco is one potential beneficiary. Morocco is the fourth largest exporter of olive oil and olives after the European Union (EU), Turkey and Tunisia, currently producing between 100,000 and 120,000 tonnes per year of which 25,000 tonnes are exported.”…

TO discover the best intelligence on money laundering, sometimes it is best just to ask the money launderers. Take China. There are numerous ways of getting dirty money out of China. The most common include smuggling a satchel of banknotes to Hong Kong (where Chinese Yuan Renminbi (CNY) is convertible), where it is washed through an over-priced (for quick transaction) purchase of real estate in the city, several Hong Kong real estate agents told the Money Laundering Bulletin.…

MONEY launderers are always looking for a new opportunity to clean dirty money, and have been exploiting sales of French vineyards for the purpose. Criminal networks have to this end leveraged a combination of a flagging domestic property market, increasing foreign interest in French property and wine, and a general ignorance among the real estate professional community about money laundering risks.…

A GREY market trade in bovine meat products between India and China is flourishing, globalmeatnews.com can reveal. Meanwhile, the Indian government is pressing China to allow official access for Indian beef, pork, goat and lamb exports, which it claims have been blocked on alleged health grounds.…

THE CHINESE knitting sector facing transformation, being challenged by lacklustre economic performance in its key export markets, fast-rising domestic labour costs, as well as a determined government crusade for energy savings and emission reduction. The industry is, in general, cautiously optimistic about tackling these challenges and experts agree that if knitwear producers stick to their strategy of adding value through more sophisticated automation, they will manage to retain manufacturing supremacy over their south Asian and southeast Asian peers.…

After years of strong economic growth, salaries of Chinese clothing makers have increased, resulting in more expensive Chinese textiles and clothing manufacturing. But while cheaper outsourcing locations such as Cambodia, Vietnam, Bangladesh and India have picked up the slack, experts both in China and abroad have yet to buy into the notion that garment production is dramatically shifting out of China.…

THE HONG Kong and mainland Chinese governments have signed a fourth protocol to their existing 2006 agreement on avoiding double taxation and preventing tax evasion. The deal sets out the tax liabilities of Hong Kong residents when they buy and sell shares in mainland China and vice versa.…

CHINA has been cracking down on beef smuggling with a string of arrests being announced by police. State news agency Xinhua reported last month that officials from China Customs had arrested 33 suspects involved in a nationwide smuggling ring, involving the illicit sale of USD32.6 million’s worth of beef from the United States.…

With Bangladesh’S economy set to continue growing and local cotton production expected to remain insignificant, cotton imports are set to double by 2021, said industry players and experts attending the country’s first Global Cotton Summit. The two-day event (March 20-21) in Dhaka, was jointly organised by the Bangladesh Cotton Association (BCA) and Bangladesh Textile Mills Association (BTMA).…

The Hong Kong unit of Luthai Textile Co Ltd, China’s leading producer of yarn-dyed fabric and shirts manufacturing, has informed its shareholders of a plan to invest USD150 million building a new Vietnam-based textile plant. The factory, whose location has yet to be disclosed, would have 60,000 spindles, with an annual output of 30 million metres of yarn-dyed fabric.…