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South Korea’s Lotte is to create a new united investment wing, under a major restructuring of the Lotte group. This separate division will assume control of the investment business of Lotte Food Co, Lotte Shopping Co, Lotte Chilsung Beverage Co and Lotte Confectionery Co – although it will formally be owned by Lotte’s confectionery wing.…

Cambodia’s garment industry is in a curious situation, with statistics indicating that export earnings from this key Asian fabric and yarn buyer are on the rise, despite evidence that overseas sales should actually be falling. According to one industry insider, this makes it difficult to project how the Cambodian clothing sector will perform in 2017 and hence how much it will spend on supplies.…

GERMANY’S paint and coatings companies, backed by the country’s formidable research organisation the Fraunhofer Institute for Manufacturing Technology and Advanced Materials (IFAM), are pushing forward with developing innovative environment-friendly products. They are developing water-based protective coatings, sustainable coatings, biocide-substituting microbial protection and radiation curing, among other initiatives in the search to develop new products. …

DEMAND for coatings for the Middle East’s oil and gas sector has been sluggish in the wake of lower energy prices. New infrastructure projects and maintenance is ongoing, but with government and national oil companies’ (NOCs) budgets getting tighter, so is the demand for innovative coating solutions.…

A MALAYSIAN government scheme encouraging foreign investors to buy property in Malaysia may have led to thousands of Bangladeshis breaching their country’s strict capital control restrictions.

A total of 3,493 Bangladeshis has participated in the Malaysia My Second Home (MM2H) long-term residency programme since 2003, according to statistics updated in December (2016) – 10.7% of all investors taking part worldwide.…

THE DE-RISKING by major banks through cancelling correspondent banking relationships (CBRs) has started to raise such alarm that anti-money laundering institutions are starting to advise against such caution.

“There has been international pressure to make banks think twice about turning down customers and not just have blanket bans  on certain jurisdictions  or certain types of institutions,” said Sarah Ouarbya,  partner in Mazars, one of the UK’s largest accountancy firms and an international  specialist in audit, tax and advisory services.…

The Russian government is planning to significantly increase the volume of the country’s domestic vanadium production, according to a statement sent to Metal Bulletin by Russia’s minister of industry and trade Denis Manturov.

He said: “Russia has the world’s largest deposits of vanadium-titanium magnetite ore.…

THE EUROPEAN Commission should bring forward legislation to enhance due diligence for supply chains in the garment sector, the European Parliament’s development committee said yesterday (March 21). MEPs backed a report by Spanish MEP Lola Sánchez Caldentey from the European United Left/Nordic Green Left (GUE/NGL) group which asked the Commission to propose a European Union (EU) law saying a binding reporting system should generate data linking each product to its respective producers.…

Experts have highlighted concerns over the exploitation of Syrian refugees working in the Turkish textile industry and called at a public forum in Hamburg for them to be registered to receive basic workplace protection. They urged the Turkish government and the clothing supply chain to work together to improve the plight of Syrians fleeing the war-torn country and seeking to establish a steady work life.…

PAKISTAN knitwear manufacturers and exporters say the country’s knitwear industry is passing through difficult times, with export sales becoming tougher to secure through growing input costs and a continued failure of the government to implement a much-vaunted and recently-announced bailout package.…