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THE HONG Kong government has said that its Inland Revenue Department will closely assess data released in the Panama Papers leak, taking action against tax evasion and avoidance by taxpayers uncovered within these documents. In a written answer to the special administrative region’s (SAR) Legislative Council, the government admitted however that it did not know the number of intermediaries in Hong Kong providing offshore incorporation company services.…

While the big Indian corporations finally converge their accounts to International Financial Reporting Standards (IFRS), the government has moved ahead with the phased adoption of these standards by the country’s financial institutions. This measure could enhance foreign investor confidence in Indian companies and boost economic growth.…

THE ORGANISATION for Economic Cooperation & Development (OECD) has released detailed data on global foreign direct investment (FDI) flows in 2015, noting these increased by 25% to USD1.7 trillion, their highest level since 2007. And while financial and corporate restructuring accounted for part of the increase rather than productive investments, FDI inflows within OECD member states almost doubled compared to 2014.…

ITALY’s parallel Cosmoprof and Cosmopack shows always push quality in key aspects of the personal care product industry and its 2016 edition was all about precision, personalisation, portable beauty and high-tech beauty solutions

An innovative new beauty product presented at this year’s 49^th edition of the international beauty trade show, Cosmoprof Worldwide Bologna [March 18-21, 2016] proves that, like smart-fashion, the cosmetics and personal care sector is ready for portable technology.…

NORTH America’s textile sector – of which technical textiles comprise nearly 70% production by value in the USA and just below 50% in Canada – has grown slowly when compared with global production. And growth within the industry in North America will further slow by 2020 due to competition from the Asia-Pacific region and Western Europe, according to industry analysts at Euromonitor. …

The worldwide market for smart fabrics is projected to be USD2.2 billion in 2016 and is growing at an 18% clip annually, according to topline numbers presented by the Industrial Fabrics Association International (IFAI), at the Smart Fabrics Summit held in Washington DC on April 11.…

THE EUROPEAN Union (EU) has chiselled a new template for international organic food trade deals with its new agreement with Chile. The deal involves EU regulators recognising Chilean exports as organic when produced and controlled under Chilean controls; and Chilean regulators accepting EU food exports as organic in Chile when produced under EU organic rules.…

New Zealand’s butter producers may be a global force in this key dairy segment, but they have regarded the groundbreaking Trans-Pacific Partnership (TPP) agreement with scepticism. Negotiations for the TPP produced a deal last October (2015), and although New Zealand dairy giant Fonterra and the DairyNZ producers association declared they had secured increased access to some key markets – Japan, Canada and the United States all increased butter quotas to varying degrees – there was general agreement that the gains had been modest.…

THE ARAB Spring has certainly been a mixed blessing for North Africa, with political instability as common as progress towards democratisation, and the region’s paint sector has not been insulated from these changes. Sales have swung up and down, with North Africa’s economies performing unevenly as the Arab Spring’s political changes shake out.…

The world of mergers and acquisitions in the Russian oil and gas sector can sometimes be as opaque as a matryoshka doll: political interference and considerations are often almost as important as business ones; and takeovers can fall through at the last moment, even as parts of the Russian state’s energy holdings discuss mergers with private national players.…