Istanbul is gearing up for its second fashion week of 2021, with the expectation of repeating the success of previous virtual events that reached some 25 million viewers worldwide.

With a physical Mercedes-Benz Istanbul Fashion Week (IFW) not feasible in 2020 due to the Covid-19 pandemic, the organisers pivoted to a virtual event.…

THE TURKISH apparel sector is capitalising on sourcing diversification and changes in retailers’ orders in the wake of the Covid-19 pandemic. Exports are up on last year, and the industry is laying the foundations for strong future demand as the sector expands.…

Oil-service provider Petrofac is to pay out a total GBP77 million (USD104.6 million) after pleading guilty to seven separate counts of failure to prevent bribery to win over GBP2.6 billion (USD3.5 billion) in Middle East contracts. In a case brought by the UK Serious Fraud Office (SFO), Her Honour Judge Deborah Taylor October 4 sentenced the Jersey-based contractor in Southwark Crown Court to pay GBP47,197,640 (USD64,208,613) in fines, a GBP22,836,985 (USD31,066,704) confiscation order plus the SFO’s GBP7 million (USD9.5 million) costs.…

Growth in demand for and production of renewable diesel is set to disrupt the global liquid fuels sector, with major increases in refining capacity being developed now. Renewable diesel has major potential as a transitional alternative energy source, because, unlike standard biofuels, in its highest quality form, it is chemically identical to fossil fuel diesel. …

Sub-Saharan Africa has natural resources that aids the development of renewable energy, it has lots of sun, plentiful wind, and much potentially sustainable biomass. With the development of small-scale affordable renewable energy technologies, such systems have been promoted by major aid agencies keen to prevent deforestation and excessive reliance on fossil fuels, that – even where they are plentiful, have not usually led to widespread economic development.

The Taiwan Environmental Protection Agency (EPA) has initiated a revision of the island’s Greenhouse Gas Reduction and Management Law, partly to help paint and coatings manufacturers maintain access to the European Union (EU) market. The reform will take account of the EU’s planned Carbon Border Adjustment Mechanism, which may levy duties on products the EU deems have been made with excess carbon emissions.…

Researchers from England’s Lancaster University and Aston University, plus the Jožef Stefan Institute, Ljubljana, Slovenia, have developed a technique of making textile additives from spent nuclear fuel. They argue the system offers economic and environmental gains regarding the processing of waste, as well as substituting sodium dithionite, which can help form toxic gases.…

The European Union (EU) has at last, after five years of debates, finalised a country-by-country reporting directive designed to force multi-nationals to reveal publicly what profits they make, and taxes they pay, in each country of operation. The goal is to stop multinationals hiding behind consolidated group financial reports that conceal when they might pay taxes in low tax jurisdictions where trading may be light.…

Accountants are grappling with the implications of El Salvador formally adopting Bitcoin (BTC) as legal tender on September 7, alongside USD, which has been the country’s legal tender since 2001, when the country withdrew its national Colón currency.

While USD will remain the most important currency in El Salvador, remaining the reference currency for accounting purposes, with greenback banknotes and coins still circulating, the Bitcoin Law that established the cryptocurrency in El Salvador (1) will be a challenge and opportunity for businesses.…

THE FINNISH can manufacturing industry has been growing, with new production coming online in the past 10 years to diversify a sector that is able to draw on effective access to raw materials and a highly skilled workforce.

Both Rexam (now part of Ball) and Poland-based Canpack operate efficient Finnish can-making plants.…