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ANTI-FRAUD SPENDING GROWING FROM LOW BASE – BUT LACK OF RISK ASSESSMENTS IMPEDES EFFORT

ANTI-FRAUD measures are expensive, and investment is growing from a low base yet surprisingly few companies keep tabs on the impact of fraud on their profit/loss margins. Annual fraud losses are estimated to cost the UK more than GBP193 billion (USD240 billion), according to the 2016 Annual Fraud Indicator report prepared by the Centre for Counter Fraud Studies at southern England’s University of Portsmouth in partnership with data services group Experian and accountants PKF Littlejohn. “No one knows the true cost of fraud in the UK, but it’s taking place ...
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UKRANIAN GOVERNMENT TO PROVIDE SUPPORT TO DOMESTIC TEXTILE PRODUCERS

THE UKRAINE government has proposed a package of policies aimed at supporting domestic textile manufacturers who continue to struggle with the country’s ongoing economic and political turmoil. Ukraine Prime Minister Vladimir Groisman announced the initiative on June 20, which involves spending USD150 million between 2017 and 2020.   Ukrainian government figures say the country’s domestic textile and clothing manufacturing accounts for 1% of national GDP, compared to 11-12% when Ukraine was part of the Soviet Union. Under the plans released by ...
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PHILIPPINE TEXTILE SUPPLY CHAIN CHALLENGED BY DUTERTE’S TAX REFORM PLANS

THE PHILIPPINES’ House of Representatives (the lower house of the country’s Congress) on June 1 passed the first of four tax reform packages proposed by President Rodrigo Duterte which will have significant repercussions for Filipino textile sector supply chain. Specifically, the package aims to widen the value-added tax (VAT) base by ending current exemptions for Philippines sales of raw materials and packaging materials to non-resident buyers and export-oriented enterprises, including a substantial share of the garment manufacturers in the ...
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TAIWANESE TEXTILE INVESTMENT IN VIETNAM UNFAZED BY TPP’S FATE

There is no sign that Taiwanese textile investors will rethink their commitment to Vietnam six months after US President Donald Trump pulled America out of the Trans-Pacific Partnership (TPP) trade agreement that would have greatly boosted Vietnamese garment exports to the USA. Prior to Trump’s move, Taiwanese companies had cited the looming TPP as their major rationale in virtually all Vietnam-related textile and garment investment decisions. Under what would have become a win-win scenario, yarn and fabric factories established in Vietnam by Taiwanese ...
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RUSSIAN GOVERNMENT RELEASES MAJOR TEXTILE SECTOR INVESTMENT PLAN

THE RUSSIAN government has announced that is planning to invest an additional Russian Rubles RUB145 billion (USD2,5 billion) into rejuvenating the country’s textile manufacturing sector. In the latest initiative designed to kickstart this ailing industry, the ministry of industry and trade has release a new approved strategy (on May 25) – it is designed to run until 2020. Viktor Evtukhov, Russia’s deputy minister of industry and trade, told WTiN.com via a spokesperson that the goal of the strategy was to increase of the share of domestically-made textile ...
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PAKISTAN TEXTILE SECTOR LAUNCHES WORK STOPPAGES AND PROTESTS OVER GOVERNMENT FAILURE TO IMPLEMENT AID PACKAGE

PAKISTAN’S textile industry, including manufacturers of fabric, yarn, and garments, suspended production and organised protests nationwide on June 20, dubbing the protest ‘Black Tuesday', over the government’s slow implementation of a promised USD1.7 billion relief package for the sector. The All Pakistan Textile Mills Association (APTMA) organised the day of action, supported by the Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA), All Pakistan Bedsheets And Upholstery Manufacturers Association (APBUMA), the All Pakistan ...
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DIGITAL PRINTING WILL BE UNIVERSAL AROSS BRAZIL WITHIN 10 YEARS SAYS FINISHING BOSS

THE OWNER of a major digital printing business in Brazil has predicted that the country’s finishing sector will abandon traditional colouring techniques by 2027. Marcelo Castelão, the sole owner of La Estampa, a Rio de Janeiro-based printing company, told WTiN.com: “Within five to 10 years, the cylinders will be gone. In the last four years, the market has turned. Even at Sedatex, our partner in Spain, a 120-year-old company, income is now 70 percent digital. The advantages are many: exclusive prints are easily done, the cost price is now the same, it’s ...
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TRUMP ADMINISTRATION’S MOVE TO SHUTTER INTERNATIONAL RESEARCH INSTITUTION WOULD HAVE OUTSIZED IMPACT ON AFRICAN UNIVERSITIES

A PROPOSAL to cut funding for the Fogarty International Center from the upcoming USA federal government budget by President Donald Trump’s administration has prompted an outcry from academics and educators across Africa. For decades Fogarty, part of the USA National Institutes of Health (NIH), has been instrumental in developing medical teaching and research capacity on the continent. And while its shuttering could have an outsized impact on Africa, academics say everyone – including Americans – would feel the impact of its closure. The US Congress has yet ...
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BIRLA SPONSORS SUSTAINABLE APPAREL COALITION MEETING DISCUSSING DEVELOPMENT OF GLOBAL SUSTAINABILITY INDEX

Global India-based textile conglomerate the Aditya Birla Group, a world leader in viscose staple fibre, was the ‘platinum sponsor’ of a Sustainable Apparel Coalition (SAC) meeting held in Bengaluru (Bangalore), India from May 22 - 23. This was an important conclave in the California-based SAC, as it approaches a 2020 deadline to develop its Higg Index, a suite of self-assessment tools enabling brands, retailers and manufacturers to measure their environmental, social and labour impact. The goal is enabling clothing businesses to identify ways of reducing ...
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END OF EU INQUIRY AGAINST JAGUAR LAND ROVER'S FACTORY IN SLOVAKIA STILL AWAITED

THE BURGEONING automotive manufacturing sector of central Europe’s Slovakia is paying close attention to an inquiry by the European Union (EU) executive, the European Commission, into how its government supports the sector. The upcoming decision by the Commission, which has powers to ensure national governments do not distort the EU’s single market by subsidising local industrial champions, could have significant implication for the future of Slovakia’s auto sector. The Commission’s decision will indicate just how far it is prepared to allow the Slovak ...
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