Search Results for: Sri Lankan

The election of Sri Lanka’s new left-leaning President Anura Kumara Dissanayake on September 23 – who campaigned on a ‘clean Sri Lanka’ programme referencing politics as well as the environment) – has built hope for the country’s next mutual evaluation rounds (MER).…

Sri Lanka’s clothing sector is banking on newly elected left-wing President Anura Kumara Dissanayake’s commitment to strengthen the country’s support from the International Monetary Fund (IMF) and fast track debt restructuring to bring stability to the country.

For the country’s export-heavy apparel sector “stability is essential to retain global competitiveness, attract new investment, and sustain jobs,” Sri Lanka’s apparel industry body Joint Apparel Association Forum (JAAF) secretary general Yohan Lawrence, told Just Style.…

Sri Lanka’s clothing sector pay scale may already be above the recently increased national living wage floor, but it has not kept up with the high inflation in the country, argued a spokesperson for the Clean Clothes Campaign, the international alliance of labour unions and NGOs.…

The International Accounting Standards Board (IASB) has proposed a new comprehensive standard – IFRS18 ‘Presentation and Disclosure in Financial Statements’, designed to give investors more transparent and comparable information about companies’ financial performance. It introduces three defined categories for income and expenses – operating, investing and financing – and requires companies to provide defined subtotals, including operating profit, aiding comparisons.…

The USA, the European Union (EU) and the UK have released hundreds of new sanctions against Russians, Russian entities and associates overseas, one day ahead of the second anniversary of their country’s major invasion of Ukraine on February 24.

With the UK ministry of defence in December estimating that 320,000 Russian combatants have been wounded or killed in the invasion, the British government announced 50 new sanctions targeting individuals and businesses.…

The doomsayers who in 2022 predicted the collapse of cryptocurrency as a major payment instrument have been proved wrong, meaning that AML regulators and obliged entities will need to focus hard to fight the abuse of these digital payment systems by criminals.…

South Africa’s paints and coatings market is expected to generate USD2.1 billion by 2026 after growing at an estimated 5.6% compound annual growth rate (CAGR) between 2021 and 2026. This is according to India-based market research and data analytics provider IndustryARC (1).…

Sri Lanka’s inflation may be slowing compared to last year (4% in August, down from 64.3% year-on-year), (1) but the country’s clothing sector is still being hit by a lack of orders, the country’s industry body the Joint Apparel Association Forum (JAAF) has told Just Style.…

Traceable pigments are increasingly being used as a favoured trackable method to help textile and garment companies prove that cellulosic fibres utilised in fabric and final products have been made according to high social and environmental sustainability standards. With regulation, non-financial reporting and green consumer demand pushing the industry towards using fabrics that are demonstrably sustainable, cellulosic fibres derived from wood pulp and other woody plants such as bamboo, have become more attractive as inputs.…

The manufacture of technical textiles is in its nascency across North Africa, even more so in sub-Saharan Africa, with the continent having long been considered a low-cost, cut-and-sew destination rather than a production hub for value-added items. But due to the trend by European and US brands for near-shoring and diversification away from east Asian production, and the ambitions of certain African countries to develop a full manufacturing chain, the potential for making technical textiles in Africa is gradually emerging.…