Furniture | Page 12 of 19

19DecDecember 19, 2024

bp & XRG to launch new natural gas platform in Egypt

bp and XRG have finalised the formation of Arcius Energy, a joint venture focusing on international natural gas. Initially to operate in Egypt, Arcius Energy includes bp-assigned concessions and exploration agreements. Leaders Naser Saif Al Yafei, CEO and Katerina Papalexandri, CFO aim to drive competitive, lower-carbon gas solutions globally. bp and XRG have finalised the formation of Arcius Energy, a joint venture focusing on international natural gas. Initially to operate in Egypt, Arcius Energy includes bp-assigned concessions and exploration agreements. Leaders Naser Saif Al Yafei,...

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19DecDecember 19, 2024

US Fed cuts key interest rate by 0.25%; unemployment rate remains low

The US Federal Reserve (Fed) yesterday cut interest rates by 0.25 per cent and indicated a slower pace of cuts in the future. The economic outlook is uncertain, it said. The central bank's key lending rate was lowered to between 4.25 per cent and 4.5 per cent. Since earlier in the year, labour market conditions have generally eased, and the unemployment rate has moved up, but remains low. The US Federal Reserve (Fed) yesterday cut interest rates by 0.25 per cent and indicated a...

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19DecDecember 19, 2024

India’s Birla Cellulose earns top ranking in Hot Button Report

Birla Cellulose, Aditya Birla Group's MMCF business, has topped Canopy’s 2024 Hot Button Report for sustainable wood sourcing, earning its fifth ‘Dark Green Shirt’ rating. Praised for eliminating Ancient Forests from its supply chain, it advances Next Gen fibres and low-carbon tech. With 11 production sites and 5 R&D centres, it leads in innovation and sustainability. Birla Cellulose, Aditya Birla Group's MMCF business, has topped Canopy’s 2024 Hot Button Report for sustainable wood sourcing, earning its fifth ‘Dark Green Shirt’ rating. Praised for eliminating...

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19DecDecember 19, 2024

Noticeable slowdown in Turkish inflation to continue in 2025: Minister

Turkish finance minister Mehmet Simsek has said a noticeable slowdown in inflation has started in many areas and the trend will continue next year. The ‘necessary groundwork’ has been done to permanently reduce inflation, he told parliament. The annual inflation rate dropped to 47.09 per cent in November, down from 48.6 per cent in October and further away from a peak of 75.45 per cent in May. Turkish finance minister Mehmet Simsek has said a noticeable slowdown in inflation has started in many...

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19DecDecember 19, 2024

China’s textile & garment exports up 2.2% to $267 bn in Jan-Nov

In the first 11 months of 2024, China's exports of textiles, garments, and accessories reached $273.059 billion, marking a slight increase of 2.24 per cent over the previous year. The growth was fuelled by textile products, despite a marginal decline in garment exports. Conversely, imports of textile yarn and fabric dropped by 8.1 per cent. In the first 11 months of 2024, China's exports of textiles, garments, and accessories reached $273.059 billion, marking a slight increase of 2.24 per cent over the previous...

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19DecDecember 19, 2024

EU Commission clears Italian aid for renewable electricity production

The European Commission has approved a $10.18-billion Italian scheme under the State aid Temporary Crisis and Transition Framework to support electricity production from renewable energy sources to foster the transition towards a net-zero economy. The measure will support the construction of new onshore wind, solar photovoltaic, hydropower and sewage gases electricity production installations. The European Commission has approved a $10.18-billion Italian scheme under the State aid Temporary Crisis and Transition Framework to support electricity production from renewable energy sources to foster the...

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19DecDecember 19, 2024

ZEW Indicator shows improved economic sentiment for Germany

The ZEW Indicator of Economic Sentiment for Germany rose to 15.7 points in December 2024, up 8.3 points from the previous month, reflecting improved economic outlook due to expectations of pro-investment policies and potential interest rate cuts. However, assessments of the current economic situation in Germany and the eurozone remain negative. The ZEW Indicator of Economic Sentiment for Germany rose to 15.7 points in December 2024, up 8.3 points from the previous month, reflecting improved economic outlook due to expectations of pro-investment...

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19DecDecember 19, 2024

Nov 2024 US container imports show softer seasonal decline: Descartes

For the first time in four months, US container imports in November dipped below 2.4 million TEUs—a threshold that has historically strained US maritime logistics. They fell by 5 per cent month on month (MoM) to 2,368,758 TEUs, according to Descartes. In November, US container imports from China also declined MoM by 7.5 per cent, ending a four-month stretch of volumes exceeding 900,000 TEUs. For the first time in four months, US container imports in November dipped below 2.4 million TEUs—a threshold that...

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19DecDecember 19, 2024

GAO urges US govt agencies to collaborate on textile waste management

The US Government Accountability Office (GAO) has found that efforts by most federal entities to reduce textile waste and promote textile recycling are ‘nascent’. Entities carry out individualised efforts and give these a lower priority than other goals, GAO said in a report to Congressional requesters. GAO identified opportunities for inter-agency collaboration to improve these efforts. The US Government Accountability Office (GAO) has found that efforts by most federal entities to reduce textile waste and promote textile recycling are ‘nascent’. Entities carry out individualised...

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18DecDecember 18, 2024

US’ Acme Mills unveils bio-based PLA fabrics, Natura

Acme Mills introduces Natura, a line of bio-based PLA fabrics designed to replace petroleum-based materials like PET and Nylon. Made from renewable resources like corn starch and sugarcane, Natura fabrics are biodegradable and eco-friendly. With diverse applications across multiple industries, Natura combines sustainability with high-performance durability. Acme Mills introduces Natura, a line of bio-based PLA fabrics designed to replace petroleum-based materials like PET and Nylon. Made from renewable resources like corn starch and sugarcane, Natura fabrics are biodegradable and eco-friendly. With diverse applications across multiple...

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