Search Results for: Turkey

THE TURKISH clothing manufacturing sector says it has struck an accord with major brand buyers who they earlier this year accused of leaving them stranded during the start of the Covid-19 pandemic through contract cancellations, postponements, and payment delays.

This had left Turkish manufacturers with some USD3.5 billion in inventory and orders on hold, sparking action by trade bodies such as the Turkish Clothing Manufacturers’ Association (TGSD), which issued a letter of complaint in the International Textile Manufacturers Federation’s (ITMF) April newsletter.…

THE UNITED Nations’ Food & Agriculture Organisation (FAO) has proposed creating a permanent ‘observatory’ monitoring cocoa markets, assessing value and costs, to help chocolate sales revenues be more equitably distributed throughout supply chains.

In a report called a ‘Comparative study on the distribution of value in European chocolate chains’, the FAO said such “objectified and cross-checked data” would aid “a multi-stakeholder discussion” at national and global levels on revenue sharing.…

UNPRECEDENTED demand for aluminium cans caused by consumers drinking at home during lockdowns and associated restaurant and café closures due to the Covid-19 pandemic, will not cause long term disruption to this key canning market, say industry experts. Instead, manufacturers will work closely with customers to maintain supplies, European and United States (US) industry organisations have told CanTech International.…

The Syrian tobacco sector has been hard hit by the civil war and associated social conflicts, now stretching into their tenth year. Tobacco leaf volumes and planted areas have dropped by around a third since the start of these troubles, factories have been destroyed, and sanctions have forced international brands from formal trading channels in Syria.…

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.”…

As Syria enters its 10th year of civil conflict, the economy is in tatters, foreign currency is in short supply, and sanctions have not only been renewed, the USA has introduced new secondary sanctions. Illicit crime and sanctions busting abounds.

In May (2020), the USA issued further guidance on Syria, while the European Union (EU) extended its sanctions on Syria for a further year, to 1 June 2021.…

EUROPEAN sugar users’ association CIUS has warned about slow progress within the talks between the European Union (EU) and the UK over a permanent relationship after the current transitional Brexit period expires on December 31. The CIUS wants this period extended – a step that the British government is currently refusing to take.…

Egypt’s garment and textile manufacturing sector has been hit hard by the Covid-19 pandemic, despite strict lockdown measures not being enacted and factories being able to stay open.

“A lot of orders were cancelled, or delayed, and many companies went into Chapter 11 (bankruptcy),” said Mohamed Kassem, chairman of the Egyptian Company for Textile Parks Development, in Cairo.…

The president of the Turkish Clothing Manufacturers’ Association (TGSD) has complained about the treatment his members have experienced at the hand of international brands during the Covid-19 crisis. By cancelling current and future orders, extending payment terms and demanding discounts, brands have devastated the Turkish garment manufacturing sector, with 80% of factories stopping production, and leaving them with an estimated USD3 billion in inventory on hold, said the TGSD boss.…

• 1MDB SCANDAL IN MALAYSIA SEES USD BILLIONS STOLEN AND HIDDEN

Malaysia 1MDB scandal is one of the largest money laundering cases ever, worldwide, with Malaysian courts considering charges over how at least USD4.5 billion was stolen and then spent or laundered from Malaysian sovereign wealth fund 1Malaysia Development Berhad by former Prime Minister Najib Razak and his associates.…