25Dec

India & ADB sign $500 mn loan for green infrastructure

Government of India and the Asian Development Bank recently signed a $500 million loan to support green infrastructure projects. The loan, with a sovereign guarantee, will be extended to IIFCL. The project aims to build IIFCL’s capacity to integrate green practices, with a sustainability unit and framework to assess project sustainability ratings. ​Government of India and the Asian Development Bank recently signed a $500 million loan to support green infrastructure projects. The loan, with a sovereign guarantee, will be extended to IIFCL. The project aims...

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25Dec

Chinese firm to set up $28.92 mn garment facility in BEPZA EZ

Ding Yu (BD) Enterprise Ltd, a Chinese firm, will invest $28.92 million to establish a garment manufacturing unit in BEPZA Economic Zone, Dhaka, creating 3,135 jobs. The facility will produce 50 million garments annually. The agreement was signed by BEPZA's Md Ashraful Kabir and Ding Yu's Zhuofan Cai, with BEPZA’s executive chairman welcoming the firm as a new member. ​Ding Yu (BD) Enterprise Ltd, a Chinese firm, will invest $28.92 million to establish a garment manufacturing unit in BEPZA Economic Zone, Dhaka, creating...

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25Dec

Fitch upgrades global container shipping outlook to ‘stable’

Fitch Ratings revised its global container shipping outlook to ‘stable’ from ‘deteriorating’, citing stability in tankers and bulk despite container shipping challenges. Risks include geopolitical conflicts, trade policy shifts post-2024 US elections, and 2025 oversupply. Emissions regulations add long-term cost pressures, requiring asset investments. ​Fitch Ratings revised its global container shipping outlook to ‘stable’ from ‘deteriorating’, citing stability in tankers and bulk despite container shipping challenges. Risks include geopolitical conflicts, trade policy shifts post-2024 US elections, and 2025 oversupply. Emissions regulations add long-term cost pressures,...

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25Dec

SMEs struggling with post-Brexit EU trade: BCC

A new BCC survey of 1,111 businesses highlights growing trade challenges post-Brexit, with SMEs struggling due to diverging regulations and limited services access under the Trade and Cooperation Agreement. Key issues include customs procedures, export documentation, and regulatory complexity. The BCC urges government action for smoother trade and regulatory reforms. ​A new BCC survey of 1,111 businesses highlights growing trade challenges post-Brexit, with SMEs struggling due to diverging regulations and limited services access under the Trade and Cooperation Agreement. Key issues include customs procedures,...

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25Dec

Vietnam year-end review 2024: Moving towards a bright future

Vietnam’s economy grew 7.4 per cent in Q3 2024, driven by the manufacturing sector. Exports increased by 15.4 per cent to $299.6 billion, with textile exports up 6.7 per cent. Despite typhoon disruptions in September, textile export growth continues, driven by global demand and strategic investments. The textile industry remains buoyant, supported by FDI, rising orders, and sustainability initiatives. ​Vietnam’s economy grew 7.4 per cent in Q3 2024, driven by the manufacturing sector. Exports increased by 15.4 per cent to $299.6 billion, with textile exports...

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25Dec

Bangladesh’s RMG exports surge 12% to $16.1 bn in Jul-Nov 2024

Bangladesh’s ready-made garment (RMG) exports surged 12.34 per cent to $16.117 billion in July-November 2024, compared to $14.346 billion in the same period of 2023. Woven apparel exports grew 12.48 per cent, outpacing knitwear’s 12.23 per cent rise. Home textiles increased by 5.03 per cent, with RMG, accessories, and home textiles comprising 82.60 per cent of total exports. ​Bangladesh’s ready-made garment (RMG) exports surged 12.34 per cent to $16.117 billion in July-November 2024, compared to $14.346 billion in the same period of 2023. Woven...

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24Dec

Americas’ Saks Global completes acquisition of Neiman Marcus

Saks Global has acquired Neiman Marcus Group for $2.7 billion, uniting luxury brands Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH. Emily Essner becomes president & chief commercial officer, while Marc Metrick and Ian Putnam lead key divisions. Executive chairman Richard Baker highlighted plans to redefine luxury retail with innovation and prime real estate. ​Saks Global has acquired Neiman Marcus Group for $2.7 billion, uniting luxury brands Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH. Emily Essner becomes...

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24Dec

US’ Nordstrom Family & Liverpool announce $6.25 billion buyout deal

Nordstrom, Inc. will go private in a $6.25 billion deal, with the Nordstrom family and Liverpool acquiring outstanding shares at $24.25 each, a 42 per cent premium. The Board approved the move following a special committee review. The family will hold a majority stake, aiming to enhance value and secure Nordstrom's future, with a $0.25 special dividend contingent on closure. ​Nordstrom, Inc. will go private in a $6.25 billion deal, with the Nordstrom family and Liverpool acquiring outstanding shares at $24.25 each, a...

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24Dec

Vietnamese PM calls for concerted efforts for 8% GDP growth in 2025

Prime Minister Pham Minh Chinh has urged Vietnamese officials for concerted efforts to achieve a GDP growth rate of at least 8 per cent in 2025, higher than the National Assembly’s 6.5-per cent target. The focus will be to stabilise the macro-economy, control inflation and ensure major balances. He called for a green transition, a hike in disbursement and a rise in efficiency of public investment. ​Prime Minister Pham Minh Chinh has urged Vietnamese officials for concerted efforts to achieve a GDP growth...

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24Dec

John Cockerill, Johnson Matthey & ETFuels partner for Texas project

ETFuels partners with John Cockerill and Johnson Matthey for its 120,000-ton-per-year e-methanol project in Texas. John Cockerill will provide electrolyser units for the hydrogen facility, while Johnson Matthey will supply e-methanol technology. The plant will use renewable energy and biogenic CO₂, creating jobs and reducing CO₂ emissions by 200,000 tons annually. ​ETFuels partners with John Cockerill and Johnson Matthey for its 120,000-ton-per-year e-methanol project in Texas. John Cockerill will provide electrolyser units for the hydrogen facility, while Johnson Matthey will supply e-methanol technology. The plant...

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