Search Results for: Singapore

The opening of newly elected Myanmar parliament on February 1 will herald a month of great change for the country, leading to a new government being installed, probably in March, with potentially major consequences for the country’s textile sector.

This change of regime could inspire a set of major new investments across many industries, potentially transforming Myanmar’s textile production sector from a homegrown relic into a competitive industrial player.…

As in many other areas, the Asian city-state of Singapore punches above its weight when it comes to fabrics and textiles. According to its ministry of trade and industry, in terms of sourcing volume the island ranks as the second largest textile and apparel business and sourcing hub in the Asia-Pacific region after Hong Kong.…

A JAKARTA-based designer and exporter of soft furnishings has told WTiN.com how her country’s home textile sector could prosper by using more of the country’s rich and varied tradition of woven fabrics in its design, especially if production could be scaled up reducing unit costs.…

CHINA’S central bank, the People’s Bank of China (PBC), has issued a new anti-money laundering and terror finance reporting requirements for all financial institutions inside the country. The rules come into force July 1. They cover banks, brokers, foreign exchange, online and mobile payment systems and insurance companies, who will have to file reports to the central bank, via their headquarters or via representative institutions, if a client requires daily cash transactions exceeding Chinese Yuan Renminbi CNY50,000 (USD7,261) or a larger amount of USD10,000’s worth in foreign currency.…

MILLENNIAL CONSUMERS ARE SHAKING UP INDIAN MARKET

The emergence of the millennial generation – those born between 1980 and the early 2000’s – is going to drive how consumption, including that of food, takes place in India, according to retail and manufacturing heads at the India Food Forum, which was held in Mumbai between January 19 and 21.…

THE HONG Kong government has signed an avoidance of double taxation agreement with Russia. It will prevent Hong Kong companies with a permanent establishment in Russia being taxed in both jurisdictions. Russian tax paid by Hong Kong companies will be credited against the tax payable in Hong Kong.…

IT has been a tough year for China’s growing economy, which has experienced some unexpected faltering in 2015, but facial care product sales have continued to surge ahead.

Retailers of these products have posted strong and sustained growth rates, increasing by 8% in the whole of 2014 to Chinese Yuan Renminbi – CNY142 billion (USD22.1 billion) and are estimated to have grown by another 10.2% in 2015, to CNY (also known as RMB) 156.4 billion, according to market researcher Euromonitor International.…

MALAYSIA’S Audit Oversight Board (AOB) has revoked the registration of an audit firm for the first time since the regulator was established by the Securities Commission Malaysia in 2010.

It has scrapped the registration of Wong Weng Foo & Co, managing partner, Wong Weng Foo and partner Abdul Halim Husin, from December 2.…

Japan’s Kobe Steel’s (Kobelco) has entered the Bangladesh market as it aims to gain a toehold in the south Asian nation’s growing shipbuilding sector, focusing on high titanium oxide-based welding rods designed to connect mild steel sheets. The third-largest steel maker in Japan, annual revenues of USD16 billion has already delivered 100 tonnes of welding electrodes, which will be marketed among shipbuilders by its local partner TSI Marine Ltd.…

A SUSTAINABLE garment-making firm in Cambodia has managed to revive the country’s centuries-old, long-forgotten tradition of making clothes out of fibres from Lotus flower stems. Moreover, it has successfully found a growing international niche market for its unique brand of clothes and fabric.…