Archive
International News Services archives articles supplied to clients one year or more after initial publication. These articles are protected by a password and not made available to readers without permission from clients. They are used as a background resource by agency journalists. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.
EU MINISTERS GREENLIGHT COMMISSION TO DRAFT LAW CREATING NEW EU AML AUTHORITY
THE EUROPEAN Union (EU) Council of Ministers has invited the European Commission “to present legislative proposals” on creating an EU anti-money laundering/combating the financing of terrorism (AML/CFT) body and tightening the harmonisation of AML/CFT rules across the EU. A comprehensive policy document, signalling a likely shift in authority over AML/CFT powers from EU member states to central EU institutions, highlighted how a central EU AML institution might work.…
CHINESE INVESTORS INTEREST IN PAKISTAN TEXTILE INDUSTRY GROWING
PAKISTAN’s clothing and textile sector hopes that 2020 will be a big year for Chinese investment – as Chinese companies look to move production to outsourcing centres, such as Pakistan, that have lower labour costs than China, but nonetheless a skilled workforce, and government incentives through reduced taxes and duties.…
UZBEKISTAN CLOTHING SECTOR EYES MAJOR INCREASE IN EXPORTS AS GOVERNMENT PUSHES AHEAD WITH LIBERALIZATION PROGRAMME
THE UZBEKISTAN clothing and textile industry is eyeing a major increase in clothing and textile imports as its government liberalises what was until three-years-ago a largely unreformed post-Soviet state. A key goal is swapping raw cotton exports for overseas sales of added value textiles and clothing.…
INDIAN CLOTHING EXPORTERS CLAIM GOVERNMENT’S FAILURE TO DELIVER PROMISED TAX BREAKS ARE HITTING OVERSEAS SALES
Indian apparel exporters fear losing business, maybe forcing some to close units, over the Failure of the government to pay promised tax benefits since March (2019), which according to the Apparel Export Promotion Council of India (AEPC), now amount to more than USD 710 million.…
INCREASING THE JOB FORCE AND PROMOTING THE COMPOUND EXPANSION - TEGRA'S STRATEGY FOR CENTRAL AMERICA
Tegra, the Atlanta, USA-based leading apparel manufacturing and supply chain provider, is expanding its workforce in Latin America, with new job posts in El Salvador’s compound as well as its soon to be opened facility in Honduras. Tegra’s plant in El Salvador, Decotex, was expanded to nearly 250,000 square feet in August (2019).…
EUROPEAN COMMISSION APPROVES MAJOR LITHIUM ION SUBSIDY SCHEME – BENEFITING MINERS, PROCESSERS, MANUFACTURERS AND RECYCLERS
THE APPROVAL of a EUR3.2 billion set of subsidies by seven European Union (EU) member states could generate a major mineral supply and processing chain to manufacture lithium ion batteries within Europe. A decision announced yesterday (December 9) by the EU executive, the European Commission, loosening its usually tight control of national government support for industry, effectively greenlights a major collaborative project designed to strengthen European battery production.…
MEXICAN CLOTHING INDUSTRY EXPERTS HOPE FOR PROMPT RATIFICTION OF THE USMCA TRADE DEAL
MEXICAN clothing industry experts hope that the current stand-off over the ratification of the new United States–Mexico–Canada Agreement (USMCA) will be solved soon, given that they expect that it will cement Mexico’s position as a major apparel exporter to the USA and Canada.…
US TARIFF HURTS, BUT ESQUEL FINDS A WAY THROUGH – JOHN CHEH
The US-China trade war that has been hindering commerce since 2018 has hit the Chinese clothing and textile export sector severely, but companies that have invested in manufacturing sites outside China have been better protected, Esquel CEO John Cheh has told just-style.…
CRETA FARM TAKEOVER DEAL IS CLOSE, SAY OFFICIALS CLOSE TO NEGOTIATIONS
The Netherlands-based investment trust, Impala Invest BV, has reached an agreement with creditors banks and will take over troubled Greek pigmeat, turkey, cheese and other deli product manufacturer Creta Farms, according to sources close to a planned deal. While company representatives have yet to release a formal statement on the plans, because Crete-based Creta Farms operates under temporary administration appointed from a court of first instance, the final approval of the deal is expected to be announced in the next few days.…
SFO CHARGES FORMER SERCO DIRECTORS WITH FRAUD, DESPITE DPA
The UK’s Serious Fraud Office (SFO) has charged two former directors of British public services contractor Serco with fraud and false accounting over dishonesty operating an offender tagging contract, despite agreeing a deferred prosecution agreement (DPA) with the company itself in July. …