Search Results for: South Africa

Vietnamese textile and garment industry officials have capped a bumper 2017 with forecasts for further robust export growth this year if it can overcome challenges from neighbouring country textile sectors by investing in skills, equipment and automation. 

Le Tien Truong, general director of the Vietnam National Garment and Textile Group (Vinatex), predicting a year-on-year increase of 10% in export value, to USD34 billion, from 10.23% annual growth in 2017 when exports totalled USD31 billion.…

THE LAUNCH of a Turkish-Algerian joint venture is set to reduce textile imports into the North African country by as much as 90%, according to government officials. Claiming the initiative will operate Africa’s second largest manufacturing textile complex, in Sidi Khettab, in the northwestern province of Relizane, in Algeria, the country’s ministry of industry and mines says it will employ 25,000 people within three years.…

INDONESIA’S textile and garment exports rebounded strongly in 2017, rising about 5% to USD12.4 billion after four years of stagnation, the head of the country’s textile industry association has revealed.

Factory relocation, political stability and less labour unrest contributed to the growth, said the chairman of the Indonesian Textile Association (API – Asosiasi Pertekstilan Indonesia), Ade Sudrajat.…

BULK tobacco smuggling is on the rise in eastern and south-eastern Europe, and cigarette manufacturers are calling for a better coordinated approach by law enforcers, as well as the passing of clearer and stricter rules to combat the menace. While regulation is in place in some countries (Montenegro and Romania insist on licensing and growers’ record keeping, for instance), the licencing and registration of tobacco growers are still not required in others (for example Poland and Greece), causing weak links that can be exploited by smugglers, according to the legitimate tobacco industry.…

Efforts to safeguard the security of supply of gas to the European Union (EU) and its countries are gathering pace after recent EU regulatory changes. Gas transmission system operators (TSOs) are now developing a new, collaborative system for managing supply crises.…

WITH tobacco being a key driver of Zambia’s agriculture sector and a past reliable source of export earnings, a recent decline in leaf production has taken a heavy toll on this southern African country’s economy. Indeed, Zambia saw its agricultural foreign exchange earnings (of all farm-based products) fall by USD100 million in 2017, according to Zambia’s agriculture ministry.…

THE AUTOMOTIVE sector is a hotbed of growth for industrial performance materials like nonwovens. And the global market for such materials have the potential to cross the EUR2 billion mark soon, according to Germany-based Freudenberg Performance Materials Holding SE & Co KG.…

THE NONWOVENS market in the Middle East and Africa (MEA) is increasingly important to the global nonwovens industry, with rising consumer demand being generated by middle classes that are growing in size. Countries in the region are also comparatively young, with high birth rates, boosting demand for diapers and wipes.…

CITIBANK is to pay a USD70 million penalty to the USA Office of the Comptroller of the Currency (OCC), in a consent order where the regulator alleges the banking group failed to fully comply with a 2012 order to reform its anti-money laundering (AML) systems.…

THE DE-RISKING by banks of their correspondent banking relationships is a long-standing problem and is today becoming a truly global phenomenon. From the Caribbean to the Pacific Islands, to Middle East, Africa and Eastern Europe, banks have lost correspondent relationships with international financial institutions.…