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 PUSHES AHEAD WITH BEPS MINIMUM TAX RATES LAW – BUT WILL THE USA FOLLOW SUIT?
The unanimous approval of a European Union (EU) directive (1) by the EU Council of Ministers on December 12, that will write pillar 2 of the OECD’s BEPS model (2) into European law – will force accountants to reassess the tax liability of their largest clients.…
EU’S GROUNDBREAKING WOMEN ON BOARDS DIRECTIVE COULD SMASH GLASS CEILING
The European Union’s (EU) new ‘Women on Boards’ directive (1) is designed to force change in the EU’s director cohort by requiring that the ‘under-represented sex’ (which could be male on rare female-dominated boards) make up 40% of non-executive directors or 33% of all major company directors.…
AFRICA DEVELOPS COTTON PROCESSING, TAPPING QUALITY LOCAL FIBRE RESOURCES
A majority of African grown cotton is exported, but initiatives are underway in certain countries to bolster upstream textile yarn spinning and fabric production as part of efforts to develop the overall supply chain.
“Cotton production is expected to go up in the continent this year, by around 30% compared to 2020 and 2021.…
INNOVATORS EXPLORE POTENTIAL OF VERTICAL FARMS, IN BRITAIN AND OVERSEAS
As the world’s largest vertical farm is set to launch operations in Gloucestershire later this year, proponents have lauded the sustainability benefits of the model. They say it has the potential to reduce agriculture’s physical and carbon footprint, growing more crops with significantly reduced water usage, zero pesticides and delivering fresher produce than traditional field-based models.…
CANADIAN GOVERNMENT PROPOSES REGULATIONS MANDATING ALL NEW CARS, SUVs AND PICKUPS ARE ZERO EMISSION BY 2035
The Canadian government has released anticipated proposed regulations insisting that all new private passenger autos sold in Canada by 2035 must be zero-emission vehicles (ZEVs). While welcoming the law in principle, Canadian automakers have warned that the federal government will need to spend more in helping consumers buy ZEVs and on investing in charging networks to ensure this mandate is practical and affordable.…
GM EXECS AND CANADA POLITICAL LEADERS HAIL LAUNCH OF FIRST CANADA LARGE-SCALE EV ASSEMBLY PLANT
GM and Canadian political leaders today (Dec 5) hailed the launch of Canada’s first large-scale EV assembly plant, making BrightDrop Zevo electric delivery vans at the Big Three auto-maker’s CAMI assembly plant at Ingersoll, Ontario. BrightDrop, a wholly-owned GM subsidiary, announced it plans initial production of its Zevo 600 models in January (2023) and Zevo 400 models late next year (2023).…
STRONG AMERICAN DOLLAR FUELS US TEXTILE AND CLOTHING IMPORTS, BUT EXPORTS REMAIN STRONG TOO
US imports of textiles and apparel continue to grow as the strong dollar makes it cheaper for American companies to purchase garments overseas, but this growth trajectory does not reflect the realities of the market, according to industry experts.
Data from the US Office of Textile and Apparel (OTEXA) (1) shows that US imports of textiles and apparel increased by 22.76% to USD114.787 billion in the first 10 months of 2022, compared to USD93.505 billion in the same period of 2021.…
TECHNICAL TEXTILES MANUFACTURING INDUSTRY STARTS TO EMERGE IN AFRICA
The manufacture of technical textiles is in its nascency across North Africa, even more so in sub-Saharan Africa, with the continent having long been considered a low-cost, cut-and-sew destination rather than a production hub for value-added items. But due to the trend by European and US brands for near-shoring and diversification away from east Asian production, and the ambitions of certain African countries to develop a full manufacturing chain, the potential for making technical textiles in Africa is gradually emerging.…
EU EXPANDS SANCTIONS TO RUSSIA MISSILE AND DRONE MANUFACTURERS
The European Union (EU) has approved its ninth package of sanctions against Russia, following the country’s invasion of Ukraine, blocking the export of technologies used to create drones and missiles being fired at Ukraine power and water plants. These are designed to create misery during the Ukraine winter – with temperatures in Kyiv already falling below zero, worsening an invasion that the UN says has killed 6,826 civilians as of December 19.…
TUNISIA’S CLOTHING AND TEXTILE SECTOR GROWS, BUT IS THREATENED BY GENERAL ECONOMIC AND POLITICAL WEAKNESSES
Tunisia’s textile and clothing sector may have expanded sales in 2022, notably through an export increase from January to September, up 11.9% year-on-year, according to the Tunis-based Technical Textile Center (CETTEX – Centre Technique du Textile). But its companies remain concerned about the stability of the national economy and potential long-term weaknesses.…