Search Results for: Sri Lankan

BY KEITH NUTHALL

AMERICAN prosecutors have succeeded in using wiretap evidence usually used to fight organised crime, to convict a hedgefund executive for netting USD63.8 million in illegal inside trades. Sri Lankan native Raj Rajaratnam, founder of Wall Street hedgefund Galleon, was found guilty on 14 counts of insider trading at a New York district court: he is appealing.…

BY KEITH NUTHALL

Brazil, Argentina, Uruguay and Iran are among almost 100 countries expected to lose tariff breaks for their plastics exports to the European Union (EU), under a planned reform of the EU’s Generalised System of Preferences (GSP) system.

The European Commission announced yesterday (May 10) it wanted to focus import duty concessions on poorer countries and so henceforth those regarded by the World Bank as high or upper middle income states would no longer qualify from January 2014.…

BY KEITH NUTHALL

ARGENTINA, Uruguay and Iran are among almost 100 countries expected to lose tariff breaks for their food exports to the European Union (EU), under a planned reform of the EU’s Generalised System of Preferences (GSP) system, which lowers EU import duties for emerging market and developing countries for more 6,200 tariff lines, including many food products.…

BY KEITH NUTHALL

BRAZIL and Argentina are among almost 100 countries expected to lose tariff breaks for their textile and clothing exports to the European Union (EU), under a planned reform of the EU’s Generalised System of Preferences (GSP) system.

The European Commission announced yesterday (May 10) it wanted to focus import duty concessions on poorer countries and so henceforth those regarded by the World Bank as high or upper middle income states would no longer qualify from January 2014.…

BY RAGHAVENDRA VERMA

Packaging giant Tetra Pak is investing USD130 million in India to set up a second facility at Chakan, near Pune, western India, to manufacture carton packaging for dairy beverages and fruit-based drinks in south Asia and the Middle East.…

BY MUNZA MUSHTAQ

Asia has long been accused of fostering corruption and governments have often turned a blind eye, while their countries grow richer. One answer is increasing the role of non-state actors in dealing with the problem. Munza Mushtaq reports from the 14th International Anti-Corruption Conference (IACC) at the Queen Sirikit National Convention Centre, Bangkok, Thailand.…

WINNERS

TURKEY

This was the year when Turkey really came into its own. With a well-established and successful clothing and textile industry, supping Europe, Russia and the Middle East, its industry this year laid claim to becoming a fashion centre. August’s Istanbul Fashion Week caught a lot of global attention with 21 catwalk shows, an audience of 40,000, and more than 500 overseas guests.…

BY MUNZA MUSHTAQ

IF proof were needed that politics and business do not always mix well, look no further than Sri Lanka’s knitwear industry. The European Commission has announced as of August 15, Sri Lanka has been suspended from its Generalised System of Preferences (GSP+) preferential trading regime, providing access to European Union (EU) markets for countries that abide by certain principles of good governance and human rights.…

BY KEITH NUTHALL

THE UN Food & Agriculture Organisation (FAO) is advising tea-exporting countries to stimulate demand in their domestic markets, because major growing sales are unlikely in traditional importers of black tea, such as Britain and Russia. Here, "scope for expansion in consumption is quite limited…but in the countries where tea is produced the per capita consumption is much lower and so there is a lot more market potential," said Kaison Chang, secretary of FAO’s inter-governmental group on tea.…

BY KEITH NUTHALL

THE TOWN of Asbestos in French-speaking Québec, Canada – named after the mineral that underpins its economy – is waiting to see whether its provincial government will approve a Canadian dollar CAD58 million (US dollar USD56 million) loan enabling an underground mine to tap an immense deposit.…