Search Results for: Italian

Malaysia’s 1MDB scandal is one of the largest ever embezzlement and money laundering cases, with Malaysian courts considering how at least USD4.5 billion was stolen and then spent or laundered from Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB). Former Prime Minister Najib Razak has now been convicted of charges associated with the scandal.…

ITALY’s paint industry is hopeful that the end of the country’s Covid-19 lockdown will herald a surge in business, interrupted by the pandemic. Gianni Martinetti, president of the Paints and Varnishes Group of AVISA, the adhesives and sealants, paints and varnishes and inks division of national chemicals industry association, Federchimica said: “The hope is that, after two very hard months of lockdown, we can start again with the same liveliness that was found in the first quarter of 2020.”…

A MAJOR expansion in collecting sales information within the digital economy across the European Union (EU) and beyond has been proposed by the European Commission, to crack down on widescale tax evasion.

The EU executive has proposed reforms to an EU directive on administrative cooperation between tax authorities (see https://ec.europa.eu/taxation_customs/sites/taxation/files/2020_tax_package_dac7_en.pdf)…

An Egyptian state-owned holding group is to build the world’s largest spinning factory, set to open in 2022, a key part of the country’s drive to modernise its textile and garment industry.

“It will have 182,000 spindles under one roof. Daily capacity will be 30 tonnes of fine yarn from Egyptian cotton, with average thread count 116 and a maximum count of 200,” Dr Ahmed Mostafa, chairman of the Holding Company for Cotton, Spinning, Weaving and Garments, told just-style.…

While Argentina’s textile industry is poised for growth over the next few years, the expansion of its use of digital printing will probably lag as companies recover from a deep recession in 2020 caused by Covid-19 and underlying economic weakness, executives said. …

TEXTILE and fibre innovators worldwide are seeking to tap growing demand for antimicrobial, virus and bacteria killing fibres and fabrics generated by the Covid-19 pandemic, encouraging clothing and fabric-makers to develop groundbreaking new technology.

Indeed, for companies such as HeiQ Materials AG – a Switzerland based textile innovation specialist – the pandemic has “opened a whole new chapter for the development of antimicrobial surfaces and textiles”, its co-founder and CEO Carlo Centonze told just-style.…

THE COVID-19 pandemic will not just threaten business failure for many clothing brands and manufacturers, it may herald the end of the current high production, fast fashion model and result in fewer, smaller collections from more sustainable supply chains, experts have told just-style.…

INTRODUCTION – SERIES

A series of reports from WTiN is exploring the need for the textile and clothing sector to protect itself against attacks from cybercriminals as it invests in new transformative Industry 4.0 technologies – extended reality, artificial intelligence and the Internet of Things.…

The suspension for alleged corruption by senior officials at a financial intelligence unit (FIU), the cornerstone of any jurisdiction’s AML work, would be shocking. But if those suspensions were at the FIU of the world’s only purely theocratic state, such reports would sound like the work of thriller fiction.…

The president of Italian food industry association Federalimentare has told of his concern about the medium- to long-term effects of the drop in demand for Made in Italy foods caused by Covid-19 epidemic affecting the country.

Ivano Vacondio said that the current spike in domestic food demand is “atypical and fleeting”, noting that hoarding by Italian consumers has, until now, camouflaged problems that will soon emerge, he said in statements sent to just-food.…