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.
METAL TRADERS OFFERED BETTER ACCESS TO SOUTH AMERICA AND EUROPE UNDER EU-MERCOSUR TRADE DEAL
A EUROPEAN Union (EU) trade deal struck with South America’s Mercosur group of Brazil, Argentina, Uruguay and Paraguay, will boost trade between the two blocs of non-ferrous metals and related articles. The agreement, which now needs to be ratified by both sides, will phase out all EU duties charged on industrial goods (including metals and metal items) over 10 years.…
REGULATORS STARTING TO ENCOURAGE FINANCIAL INSTITUTIONS TO EXPERIMENT WITH AI MONITORING OF SUSPICIOUS TRANSACTIONS
Regulators have started to actively encourage financial institutions to experiment and use machine learning to detect suspicious activity.
US regulatory authorities have called for innovative approaches to meet AML compliance obligations “to further strengthen the financial system against illicit activity”.
In a joint statement, the Board of Governors of the Federal Reserve System; the Federal Deposit Insurance Corporation; USA FIU the Financial Crimes Enforcement Network (FinCEN); the National Credit Union Administration, and the Office of the Comptroller of the Currency announced their support for innovative technology development last December.…
TUNISIA UNDERPINS SUCCESS AS DENIM OUTSOURCER THOUGH PROMOTING ITS QUALITY AND SUSTAINABILITY
Tunisia is underpinned its sustained growth as a denim supplier through promoting its quality specialist production that employs sustainable environmental and social practices.
Since its 2011 revolution that launched the ‘Arab Spring’, exports of denim jeans from Tunisia have doubled. According to the Tunisian exports and promotions agency CEPEX the value of jeans exported from Tunisia have risen from Tunisian dinars TND586.40 million (USD202 million) in 2010 to TND1.32 billion (USD455 million) in 2018.…
ATTRACTING YOUNG PEOPLE TO EU CLOTHING SECTOR NUMBER ONE CHALLENGE, SAY EXPERTS
RECRUITING and retaining a skilled workforce in the European textile and clothing sector is today’s biggest challenge, speakers told the June 14 general assembly of Euratex, the European textile and clothing industry association.
In a sense, this is a positive problem with the sector experiencing positive growth.…
JAPAN CLOTHING BRANDS’ PAST SOURCING DIVERSIFICATION HAS PROTECTED THEM FROM US-CHINA TRADE WAR
JAPAN clothing brands have protected themselves in advance against exposure from the US-China trade war by decreasing their reliance on China-based manufacturing outposts in recent years. This sourcing diversification has occurred initially because of rising costs in China.
According to the Japan Apparel Fashion Industry Council (JAFIC), this movement away from Japan means the impact on Japanese textile and apparel companies from US tariffs imposed by the Trump administration on China-made exports would be “slight”.…
SAE-A TRADING EYES BUILDING HIGH-TECH PLANT FOR POLYESTER YARN IN GUATEMALA
South Korea’s Sae-A Trading, one of the world’s largest apparel manufacturers and exporters, is considering building an estimated USD200 million high-tech industrial complex in Guatemala for making polyester yarns. Its goal – taking advantage of rising US demand for apparel made in Central America. …
NEW BJP GOVERNMENT EXPECTED TO REVIEW INDIA’S MINIMUM WAGE
India’s new Bharatiya Janata Party (BJP)-led government, that took office on May 30 following its April and May election victory, is planning to increase the country’s minimum wage rates, which could damage the current cost advantages enjoyed of Indian apparel exporters, warned an industry body.…
CAMBODIA GARMENT FACTORY OWNERS ACCUSED OF DISMISSING EXPERIENCED WORKERS TO AVOID SENIORITY PAYMENTS
Cambodia garment industry associations are accusing factory owners of dismissing experienced workers without paying due compensation, claiming this is a breach of newly introduced legally mandated seniority payments, supposed to be paid from this month. (June)
Cambodia’s Collective Union of Movement of Workers (CUMW) president Pav Sina told just-style that that an unnamed “factory located in Damnakthom village, in the capital Phnom Penh has dismissed workers controversially without paying them compensation”, claiming the supplier wanted to evade additional costs from the new payments.…
TATA BUSINESS CONCENTRATION COULD PREPARE WAY FOR EXPANSION IN INDIA’S FOOD MARKET, SAY EXPERTS
A corporate restructuring by India’s Tata Group to demerge its chemical business from its consumer products divisions may encourage the conglomerate to boost its position in India’s highly competitive processed food sector, say experts.
“Tata may create a new identity by not only expanding its portfolio of ‘Sampann’ spices brand but also launching new food products that would compete with the offerings of established mid-sized companies like [Bengaluru-based] MTR Foods or [New Delhi-based] MDH,” Himanshu Manglik, president of Gurgaon-based consultancy firm Walnutcap told just-food.…
KAZAKH COMPANY OFFLOADS SNACKS BRANCH TO UKRAINE MANUFACTURER TO FOCUS ON DRINKS
Kazakh food and drinks holding company RG Brands is to move out of solid foods to focus on its drinks lines, selling its main snacks producer Almaty Snack Food, to a major Ukrainian company, RG Brands has announced. Almaty Snack Food produces a potato chips brand called Grizzly, which has been a popular line on the Kazakhstan and Kyrgyzstan markets for 12 years.…