Search Results for: united nations⊂mit=Search

Disgraced former crypto king Sam Bankman-Fried is facing years in jail and huge fines after being charged with multiple fraud offences following the collapse of crypto-trading platform FTX and its associated hedge fund Alameda Research. He is accused of illegally funnelling FTX customer funds for his own personal gain and for Alameda investments.…

The United Nations has let its authorisation for foreign actors to fight maritime piracy in Somalia’s territorial waters lapse, because its government and backers have become more effective in fighting this criminality. Ramadhan Rajab reports.

The UN Security Council’s decision to let Somalia take care of its own piracy problem does not mean shipping companies can rest easy about attacks off Somalia, but it does indicate its government is taking control of the problem.…

The textile and fibre sectors of Ethiopia have been looking to expand domestic sakes as Ethiopia approaches one year anniversary of its exclusion of the USA’s Africa Growth and Opportunity Act (AGOA). This process continues even as a new peace deal between the government and rebel Tigray forces is being rolled out, growing hope that Ethiopia may be readmitted to AGOA and its preferential US market access in 2023.…

WORLDWIDE inflation is impacting the can making industry and its supply chain partners. Indeed, metal packaging prices have risen by at least 25% this year, according to industry association FoodDrinkEurope. A key reason has been soaring prices for energy used in manufacture, up more than 50% in 2022 according to the World Bank.…

An African garment and textile sector rebounding from the Covid-19 pandemic has seen strong export growth in the first three-quarters of 2022 start to sputter through a tightening of retail demand in Europe and the United States. These remain Africa’s two primary export markets and their consumers are reducing spending as inflation and recession concerns grow.…

The African knitwear manufacturing sector has been regaining ground lost during the Covid-19 pandemic, with established manufacturing hubs capitalising on the growing demand for nearshoring in Europe and to a lesser extent the USA. There are major investments under way in developing production capacity, particularly in West Africa.…

The Egyptian garment and textile sector has rebounded from the dip caused by the Covid-19 pandemic, with orders returning in 2021 and exports strong in the first half of 2022. Sluggish consumer demand in the country’s primary export markets of the USA and Europe has however seen orders weaken over the past third 2022 quarter.…

The Bangladesh textile industry is suffering from an acute gas shortage due to the surge in gas prices in the international market due to the ongoing Russian invasion of Ukraine. According to the International Energy Agency (IEA), Russia’s piped exports to Europe declined by an 40% (or over 45 billion cubic metres) year-on-year in the first eight months of 2022, tightening supplies worldwide.…

It is ‘de rigeur’ for tech publications to define the ‘metaverse’ – Wikipedia is perhaps most succinct – ‘a metaverse is a network of 3D virtual worlds focused on social connection’ (1). As for their fraud risk, there is a growing consensus that the metaverse offers fraudsters and cybercriminals significant opportunities to exploit this growing network of IT systems integrating virtual or augmented reality (VR and AR).…

A gas supply crisis in Bangladesh is directly impacting the country’s important apparel industry due to its reliance on upstream and mid-stream textile and knitting sectors for fabric production, who consume natural gas for energy. The shortage has been caused by Russia’s invasion of Ukraine which said the International Energy Agency (IEA), has seen Russia’s piped exports to Europe declined by 40% in the first eight months of 2022, tightening supplies worldwide.…