International news agency

Archive

Lebanese Banks Are Battling It On In A Difficult Environment

By Paul Cochrane in Beirut

Lebanon’s banks are at the frontline, both literally – the country borders war-ravaged Syria north and east – and as they negotiate to preserve or recover correspondent relationships in a de-risking environment.

Read more

UK drinks association warns its relationship with EU industry bodies may change post-Brexit

By Andrew Burnyeat   Britain’s Wine & Spirit Trade Association (WTSA) has said its formal relationship with pan-European Union (EU) associations could change should the UK government go ahead with its Brexit referendum mandate and quit the EU.

Read more

Brexit poses key questions on regulation for all business and professional sectors, in and outside the UK

By Keith Nuthall   The UK’s vote on June 23 to quit the European Union (EU) creates deep uncertainty over the shape of regulations and legislation in Britain, affecting all economic and professional sectors. As new UK Prime Minister Theresa May takes office, she has the toughest in-tray imaginable – recasting and then renegotiating the UK’s regulatory relationship with the 27 countries remaining in the EU and the EU’s central institutions.

Read more

Brexit vote on a knife-edge

By Andrew Burnyeat    The Brexit polls predict a knife-edge night of nervous nail-biting for both Remainers and Brexiteers on June 23.

This needs some explanation, given that the vast majority of centre-right, centre and left politicians, together with a huge majority of business leaders and industry associations want the UK to continue its membership of the European Union (EU).

Read more

Nuclear deal may have swept away many sanctions, but Iran struggles to mesh with global financial system

By Paul Cochrane, in Beirut   Following the international agreement limiting its nuclear power ambitions, Iran is essentially open for business. However, certain US sanctions remain in place, adding to Western banks’ caution in dealing with Iran, long a pariah to global investors and bankers. Indeed, the biggest challenge will be reintegrating Iran’s financial institutions back into the international system after their years’ long experience of dealing with, and circumventing, sanctions.

Read more

Automakers tell Britain auto jobs could be lost if the UK leaves the EU

By Sara Lewis, in Brussels   With a June 23 date set for Britain to hold an in-out referendum on UK membership of the European Union (EU), the European car industry has made it clear it wants British voters to keep their country within the 28-member state bloc.

Four top automaker executives have rejected Brexit (British exit from the EU) by adding their names to a letter from business leaders to the London-based The Times newspaper, flagging up the EU’s benefits.

 

Read more

WORLD TRADE ORGANIZATION ANNOUNCES DEAL ON FARMING SUBSIDIES

Food export subsidies are to be scrapped after a World Trade Organization ministerial meeting in Nairobi agreed on Friday (18 December) to phase out the trade sweeteners.
Developed country members have committed to remove export subsidies immediately for basic food products, with a slower phase-out schedule for all processed foods, pigmeat and dairy products.
For these products, the governments of more developed markets have negotiated some leeway, if their governments have previously notified the WTO agriculture committee about the subsidies. If ...
Read more

HIJAB SALES OFFER INDONESIAN TEXTILE MANUFACTURERS ADDITIONAL MARKETS

INCREASING sales of hijabs could helping Indonesia’s textile sector boost business, the secretary general of the Indonesia Synthetic Fibre Producers Association has told WTiN, helping an industry facing stagnation in export and domestic demand.
Redma Gita Wiraswasta estimates that 45 million hijabs are sold annually in Indonesia, with prices for standard products ranging between USD3.70 and USD11. The country has the largest Moslem population in the work - around 180 million. Wiraswasta said weaving and knitting factories are earning from the “very ...
Read more

VIETNAM’S CLOTHING AND TEXTILE COMPANIES LEFT OUT FROM E-COMMERCE BOOM

VIETNAM’S clothing and textile sector is failing to capitalise on e-commerce, despite a major surge in domestic online shopping, experts claim.
The south-east Asian clothing and textile outsourcing hub now has the second fastest e-commerce growth rate in the Asia-Pacific region only behind Malaysia, according to a survey published by credit card company MasterCard earlier this year. But although Vietnam’s ministry of industry and trade has for years been encouraging the country’s garment companies to substantially increase their sales through ...
Read more

PAKISTAN TEXTILE INDUSTRY SLAMS GOVERNMENT FOR FAILING TO IMPLEMENT ITS OWN TEXTILE POLICY

A LEADER of Pakistan’s key textile industry association has accused his country’s government of failing to follow its own major 2014-19 textile industry plan, released with much fanfare last February (2015).
Amir Fayyaz Sheikh, Punjab chairman of the All Pakistan Textile Mills Association told WTiN.com: “Addressing problems of industry is low on the government’s priority list. The textile policy has not been implemented.” Indeed, it has not even replaced the former ministry textile industry Abbas Khan Afridi, who stepped down in March, after ...
Read more