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Bangladesh’s imports of scrap metal has risen sharply as local steel millers turn to billet production, bolstering supplies encouraged by growing demand for finished products, Steel First has learnt.

Industry insiders said the south Asian nation imported around 1.5 million tonnes of steel and iron scrap in 2015 and estimates suggest that annual imports could surge to around 2.5 million tonnes by the end of this year.…

Following the international agreement limiting its nuclear power ambitions, Iran is essentially open for business. However, certain US sanctions remain in place, adding to Western banks’ caution in dealing with Iran, long a pariah to global investors and bankers. Indeed, the biggest challenge will be reintegrating Iran’s financial institutions back into the international system after their years’ long experience of dealing with, and circumventing, sanctions.…

Back in March 2014, a Hong Kong businessman named Joseph Lau Luen-hung was sentenced in absentia to five years and three months in prison by Macau’s Court of First Instance.

Lau had been found guilty, along with along with fellow businessman Steven Lo Kit-sing, of money laundering and paying a Hong Kong dollars HKD20 million (USD2.5 million) bribe to Macau’s former secretary of public works, Ao Man Long, who is himself serving a 27-year jail term (for bribery charges).…

While January 6 (2016) was a big day for Chile’s fight against money laundering, with a major money laundering case drawing to close, there is concern that the country’s anti-money laundering (AML) efforts are actually weakening.

After eight years of investigation, Santiago’s 34th Criminal Court handed down the first sentence against eight individuals in the country’s largest ever money-laundering cases.…

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.…

FOR India’s pharmaceuticals sales are expected to reach USD55 billion in 2020 from the current level of USD18 billion, although growth in exports of Indian-made medicines will be slower, predicts a research report released by Associated Chambers of Commerce and Industry of India (ASSOCHAM) and New York-based consultancy firm TechSci Research.…

THE EUROPEAN Medicines Agency (EMA) is to stage assessments of the effectiveness of its medical literature monitoring service in this coming year to ensure the effectiveness of this pharmacovigilance service.  An independent audit of the system’s internal quality management, controls and its output will be conducted early this year (2016).…

Egyptian clothing companies that were restricted from using air cargo for exports to North America are getting around the ban. In December, 2015, national carrier EgyptAir suspended cargo shipments on passenger planes as a precautionary measure following the downing of a Russian aircraft in October at Sharm el-Sheikh.…

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.…

PROGRESS made by Bangladesh’s knitwear sector in improving its health and safety standards will come under scrutiny this spring, through the Bangladesh Sustainability Compact. A second stock-taking meeting of the International Labour Organisation (ILO), European Union (EU) and United States-led ‘Compact for Continuous Improvements in Labour Rights and Factory Safety in the Ready-Made Garment and Knitwear Industry in Bangladesh’ was to be held on January 28.…