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BY RUSSELL BERMAN

WITH the auto industry in the United States and Europe in the midst of an unprecedented downturn, the international paints and coatings sector has taken a deep hit as well and has been forced to turn to painful strategies in the hopes of riding out the recession.…

BY RAGHAVENDRA VERMA

INDIA’S cosmetics industry appears to have taken the international economic downturn in its stride as the US$950 million market grew by more than 15% in 2008-09, according to the Confederation of Indian Industries (CII).

All the major brands speaking to Soap Perfumery & Cosmetics are registering a positive growth and companies remain confident about the future prospects.…

BY STEVEN SWINDELLS

POLITICALLY stable Botswana is moving ahead with investment in expanded and upgraded airports despite the economic downturn which has hit the southern African country’s tourism sector.

The main project is the US$60 million upgrade and expansion of the Sir Seretse Khama International Airport in the capital Gaborone.…

BY JULIAN RYALL

JAPAN’S accounting industry has broadly welcomed the proposals that have emerged from the G20 meeting in London last week as "important" and "positive," but warned that there needs to be more action to back up the words if there are to be meaningful improvements in financial controls that transcend international borders.…

BY KARRYN MILLER

"THE STONE Age did not end for lack of stone, and the oil age will end long before the world runs out of oil," said Sheik Ahmed Zaki Yamani in 2003, former oil minister of Saudi Arabia. Six years on Mr Yamani’s words appear to ring true more than ever before – with alternative fuels becoming a viable petroleum substitute.…

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 Emma Jackson

As the recession digs deeper and major accounting scandals bubble to the surface, business and accounting teaching and training programmes across the globe are scrambling to endow a sense of ethics in their students.

Ethics have been largely ignored in many prestigious business schools, says one accountings professor at Australia’s Deakin University, Steven Dellaportas, who argues students aren’t equipped to deal with ethical dilemmas.…

By Lorraine Mallinder, in Montréal

As the polar ice cap continues to shrink, the five nations surrounding the Arctic Ocean are hurriedly positioning themselves for what is shaping up to be one of the biggest geopolitical brawls of the coming years.

Beneath the thinning ice lies the tantalising prospect of up to a quarter of the world’s untapped oil and gas reserves and the promise of new shipping routes between East and West. It’s enough to turn the heads of even the most placid nations.…

BY JULIAN RYALL

THEY may be putting off the new car purchase and the long-haul holiday this year, but Japanese consumers are finding that they cannot do without all their little luxuries.

For the 25th consecutive month, confectionery sales increased in Japan in January.…

BY PAUL COCHRANE

THE ARABIAN Sultanate of Oman’s two-year long talks with Iran to jointly develop liquefied natural gas (LNG) fields and establish a company to market LNG exports have yet to bear fruit. But while talks are still ongoing, Oman is developing its West Bukha field (off the Musandam Peninsula at the mouth of the Persian Gulf), with the United Arab Emirates’ (UAE) Ras Al Khaimah (RAK) Petroleum.…