Archive
International News Services archives articles supplied to clients one year or more after initial publication. These articles are protected by a password and not made available to readers without permission from clients. They are used as a background resource by agency journalists. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.
GM EXECS AND CANADA POLITICAL LEADERS HAIL LAUNCH OF FIRST CANADA LARGE-SCALE EV ASSEMBLY PLANT
GM and Canadian political leaders today (Dec 5) hailed the launch of Canada’s first large-scale EV assembly plant, making BrightDrop Zevo electric delivery vans at the Big Three auto-maker’s CAMI assembly plant at Ingersoll, Ontario. BrightDrop, a wholly-owned GM subsidiary, announced it plans initial production of its Zevo 600 models in January (2023) and Zevo 400 models late next year (2023).…
STRONG AMERICAN DOLLAR FUELS US TEXTILE AND CLOTHING IMPORTS, BUT EXPORTS REMAIN STRONG TOO
US imports of textiles and apparel continue to grow as the strong dollar makes it cheaper for American companies to purchase garments overseas, but this growth trajectory does not reflect the realities of the market, according to industry experts.
Data from the US Office of Textile and Apparel (OTEXA) (1) shows that US imports of textiles and apparel increased by 22.76% to USD114.787 billion in the first 10 months of 2022, compared to USD93.505 billion in the same period of 2021.…
TECHNICAL TEXTILES MANUFACTURING INDUSTRY STARTS TO EMERGE IN AFRICA
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.…
EU EXPANDS SANCTIONS TO RUSSIA MISSILE AND DRONE MANUFACTURERS
The European Union (EU) has approved its ninth package of sanctions against Russia, following the country’s invasion of Ukraine, blocking the export of technologies used to create drones and missiles being fired at Ukraine power and water plants. These are designed to create misery during the Ukraine winter – with temperatures in Kyiv already falling below zero, worsening an invasion that the UN says has killed 6,826 civilians as of December 19.…
TUNISIA’S CLOTHING AND TEXTILE SECTOR GROWS, BUT IS THREATENED BY GENERAL ECONOMIC AND POLITICAL WEAKNESSES
Tunisia’s textile and clothing sector may have expanded sales in 2022, notably through an export increase from January to September, up 11.9% year-on-year, according to the Tunis-based Technical Textile Center (CETTEX – Centre Technique du Textile). But its companies remain concerned about the stability of the national economy and potential long-term weaknesses.…
DYEING AND FINISHING STRUGGLING IN EGYPT, AFRICA’S LARGEST TEXTILE PRODUCER
Dyeing and finishing capabilities in Africa’s largest textile producer, Egypt, are being undermined by government import and foreign currency restrictions, forcing manufacturers to use roundabout means to source raw materials, say industry critics. Sectoral development is also being impacted by the drop in investment in the wake of the Covid-19 pandemic and a downward slide in orders since the middle of this year (2022).…
BREXIT CHALLENGES BRITISH LAW ENFORCEMENT FIGHT AGAINST FRAUD – BUT UK CAN MITIGATE DIFFICULTIES
The UK’s law enforcement and prosecuting authorities have been striving to mitigate the loss of automatic collaborative relationships with European Union (EU) member states, following Brexit. Keith Nuthall reports
A key priority of the talks forging the 2020 EU-UK Trade and Cooperation Agreement (TCA), (1) which underpinned Britain’s full Brexit form the EU on January 1, 2021, was salvaging the close relationship between UK and EU police and prosecutors.…
TECHNICAL ROUND UP – IPSASB TO CREATE PUBLIC SECTOR SUSTAINABILLITY REPORTING STANDARDS
The International Public Sector Accounting Standards Board (IPSASB) will start detailed work developing sustainability reporting standards for public sector bodies.
Ian Carruthers, IPSASB chair, said: “The public sector needs its own specific sustainability reporting framework and the IPSASB should lead its development.”…
FTX FORMER BOSS JAILED IN BAHAMAS AS USA REGULATORS CRACK DOWN WITH CHARGES
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.…
DANSKE BANK SETTLES ESTONIA ML CASES IN USA AND DENMARK
Denmark’s largest bank Danske Bank has settled criminal cases brought against it in the USA and Denmark over allowing its Estonia branch to funnel around EUR200 billion (USD213 billion) in funds from non-residents, including from Russia, into international financial networks, with light touch AML controls.…