Tag Archives: raw materials

Take advantage of import duty exemptions, FG tells manufacturers

Deputy Director of Industrial Development, Mr. Mohammed Bala, who represented Federal Ministry of Industry, Trade and Investment Minister, Mr. Adeniyi Adebayo, urged manufacturers to take advantage of import duty exemptions through the import duty exemption certification. He said this at a national symposium organized by the INGO Third Sector Resource and African Business Roundtable in Abuja on Thursday. The symposium ...

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China may turn to Indonesia for coal as Russian exports disrupted, CLSA says

Russia’s war in Ukraine is unlikely to have a uniform effect across Southeast Asia, says CLSA’s Anthony Nafte. Many economies in the region are net importers of oil and are expected to come under “a lot of pressure,” Nafte told CNBC’s “Street Signs Asia” on Wednesday. He noted that recent commodity price spikes have been “much higher” than expected and ...

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EXPLAINER-The Extent of Global Banks’ Russian Exposure

Shares of European banks have lost a fifth of their value over the past month amid the Ukraine crisis. Western sanctions against Russia following its invasion of Ukraine have upended the financial sector, but the main consequences for banks are threats to the global economic outlook and the prospect of higher interest rates. Investors fear banks will again have to ...

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Albanian daily news

The Albanian economy will suffer direct and indirect shocks from Russia’s attacks on Ukraine. Fuel and flour prices are expected to rise, as the country imports 47% of its annual grain needs and 12% of oil from Russia. The indirect consequences will come from the global increase in food and energy prices and negative impacts on tourism. Wholesalers claim there ...

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PRGMEA expresses its disappointment with the performance of the new IRIS portal – Business & Finance

LAHORE: The Ready Made Garments Manufacturers and Exporters Association of Pakistan (Prgmea) has expressed disappointment with the performance of the Federal Board of Revenue’s new IRIS portal – the platform for filing tax returns on sales – and called for the cancellation of the old fully automated system. Sales Tax E-Refund (FASTER) for transparent and fast payment of exporter refunds. ...

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Handmade rug industry in decline

LAHORE: Exports of hand-knotted carpets are declining due to shortage of skilled labor, expensive raw materials and higher cost of business. The indifferent attitude of successive governments has also played a key role in the downfall of the carpet industry, which was once vibrant and attracted buyers from all over the world. Exports of handmade rugs have been in continuous ...

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Accord Financial Corp. announces the relaunch of AccordExpress, which provides financial support to Canadian entrepreneurs throughout the export supply chain

TORONTO, February 8, 2022 /CNW/ – Accord Financial Corp. (TSX: ACD) Accord Financial Corp. (“Accord”) today announced the relaunch of AccordExpress, Accord’s unique small business financing program. For 2022, AccordExpress is designed to support companies engaged throughout the export supply chain. Direct exporters, as well as indirect exporters (companies supporting exporters of goods and services), are welcome to apply. AccordExpress ...

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Manufacturers: FX supply hit hard in Q4’21

Members of the Manufacturers Association of Nigeria (MAN) said that the fourth quarter (Q4) of 2021 was the worst for foreign exchange (forex) supply in the country. MAN chairman Mansur Ahmed, an engineer, who disclosed to New Telegraph in an interview in Lagos, said local manufacturers had difficulty sourcing foreign exchange from commercial banks across the country in Q4′ 21. ...

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Aerospace parts manufacturing market size worth $1,233.2 billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, January 26, 2022 /PRNewswire/ — The World aerospace parts manufacturing market size is expected to reach $1,233.2 billion by 2030 at a CAGR of 4.0%, according to a new report from Grand View Research, Inc.. Rising passenger and cargo traffic in emerging economies is driving the demand for next-generation aircraft, which in turn is expected to drive the ...

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FMCG companies increase sourcing as coronavirus curbs return

NEW DELHI : Packaged goods companies are once again ramping up supplies and stocking products in retail stores and e-commerce channels as covid restrictions emerge in several large states. CavinKare, a fast-growing Chennai-based consumer products company, said it is proactively ramping up production and increasing inventory at retail outlets. “In case there is some kind of peak in the third ...

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Sweater emerges as the next big bet as China exits the market

After retiring from the police force, Mostafa Golam Quddus established a sweater factory in Bangladesh in 1987, marking the country’s entry into the predominantly Chinese-dominated global sweater market at the time. He brought in 43 Chinese experts for his factory and what happened next stunned the local business community – he exported $ 3 million worth of products in the ...

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New series of tariff regimes open to agro-industrialists

A new round of tariffs suspension / quota has been announced and requests are being sought from manufacturers in the agricultural, industrial and related sectors. The program opens today (Saturday January 1) and will remain open until 5:30 p.m. on January 31, 2022. the tariff suspension regime facilitates the import of raw materials, components or intermediate products outside the European ...

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Non-durable goods wholesale merchant market analysis and forecast till 2026 by major players, share, trend, segmentation

The updated report of Non-durable goods wholesale merchant market Size incorporates all crucial aspects, such as predominant trends, growth drivers, and challenges influencing the industry’s trajectory with respect to geographic bifurcation and competitive landscape. Further, it sheds light on the sizes and shares of market segments, including product landscape and application spectrum. The report also sheds light on the implications ...

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EXIM Thailand highlighted the year 65, the opportunity to expand the exporter’s market. After showing the best form, set a new record in all dimensions, profit increases by more than 200%

Home »Economy» EXIM Thailand highlighted the year 65, the opportunity to expand the exporter’s market. After showing the best form Set a new record in all dimensions, profit growing by more than 200% December 26, 2021 Sunday, December 26, 2021 EXIM Thailand reports that in 2022, Thailand’s economy is expected to grow alongside the global economy. Exporters must adapt to ...

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Rajasthan’s Favorite Mughal Tent Makers

Mughal Royal Tent Luxury Mughal Tent Mughal Arab Tent Mughal tents are examples of the rich Indian art form, majestic tents and their sale around the world. JODHPUR, RAJASTHAN, INDIA, December 16, 2021 /EINPresswire.com/ – Kirti Creations has been making tents for over 15 years. Their roots can be traced back to Rajasthan and Jodhpur, which makes their products authentic ...

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Australian chemicals makers scramble as AdBlue diesel shortage threatens national economy

Thousands of Australian food and commodity trucks could be forcibly stored within months if local manufacturers fail to meet increased demand for AdBlue. Seen 7 images Australian chemical manufacturers capable of producing AdBlue – a urea-based additive used in diesel vehicles to reduce the expulsion of hazardous emissions – are scramble to increase production, because an international shortage threatens to ...

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Investment in port infrastructure

KARACHI: Federal Maritime Affairs Minister Ali Zaidi has announced that Karachi Port Trust (KPT) will build a six-lane bridge connecting the east and west docks within 18 months. The estimated cost of the project is Rs2.3 billion. Finally, the government seems to have realized the vital role that the port of Karachi plays in foreign trade. What prompted the government ...

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Government to relax collateral requirements

The government is set to introduce an innovative financing model as part of a new law to allow small businesses and startups to show their movable assets as collateral to feed entrepreneurs and help them get loans. A bill on the collateral protection of movable property has already been formulated, according to an official from the Ministry of Finance. The ...

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How America’s Manufacturers Cope in the Global Supply Chain Crisis

American manufacturers are thriving as global supply chains remain in turmoil. They are not immune to other economic problems, such as labor shortages and rising shipping costs. But “the closer you are to your customer … the fewer issues there are,” Scott Paul, president of the Alliance for American Manufacturing, told Insider. Loading Something is loading. Unlike many retailers this ...

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China ends decades-long preferential tariff certificates for its exporters

Preferential tariff treatment for Chinese companies exporting products to 32 countries – including the 27 members of the European Union (EU), the United Kingdom, Canada, Turkey, Ukraine and Liechtenstein – has ended, as the country’s export products become more competitive. Since December 1, the General Administration of Chinese Customs has stopped issuing certificates of origin under the Generalized System of ...

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US Manufacturers Growing Rapidly But Still Struggling With Shortages, ISM Says

Numbers: U.S. manufacturers are pumping goods as fast as they can to meet strong customer demand, a new survey has shown, but ongoing labor and supply shortages have plagued production and fueled the highest surge in US inflation in decades. A closely followed index of US-based manufacturers reached 61.1% in November from 60.8% the month before, the Institute for Supply ...

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DARPA to launch DoD’s first space manufacturing research program

WASHINGTON – The Defense Advanced Research Projects Agency, in a new program, will explore options for conducting bioproduction in space, using biological systems such as microbes to build materials for use in orbital operations. The project, led by DARPA’s Biological Technology Office, is called B-SURE, short for Bioproduction, Survival, Utility and Reliability Beyond Earth. “The B-SURE program is a fundamental ...

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Egypt targets $ 6.5 billion in chemical industry exports in 2023 (official)

The Egyptian Chemicals and Fertilizers Export Council aims to increase the sector’s exports to $ 6.5 billion in 2023, from $ 5.2 billion in 2020. This strategy can be achieved through many mechanisms, the first of which is to guide companies and industrial entities on the importance of introducing modern management systems and using information technologies. In addition, prepare and ...

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The government fixes the price of agricultural products with the highest profit for the farmers

The government has set the logical price of certain agricultural products at the production, wholesale and retail levels to ensure the highest rate of profit for farmers. As part of the Agriculture Marketing Policy-2021, released this month, the Agriculture Marketing Directorate (DAM) set a separate profit rate for farmers, wholesalers and retailers, DAM sources said. According to the policy, farmers ...

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Foam Plastics Market Demand, Growth, Trend, Business Opportunities, Manufacturers, and Research Methodology by 2028

Emerging research logo Plastic Foam Market Size – USD 51.76 Billion in 2020, Market Growth – at a CAGR of 4.5%, Market Trends – Building and Construction Industry Growth VANCOUVER, BC, CANADA, Nov 23, 2021 /EINPresswire.com/ – The latest study titled “Global Foam Plastics Market”, published by Emergen Research, includes a comprehensive database determined by a thorough assessment of important ...

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Leading consumer goods retailers and manufacturers launch actions to transform production landscapes into ‘Forest Positive’ by 2030

Forest Positive Coalition of Action aligns with landscape engagement ambition to help stop deforestation and advance Forest Positive strategy The Consumer Goods Forum’s Forest Positive Coalition of Action launches the first phase of a strategy to transform areas equivalent to the size of the Coalition’s combined production base footprint into positive forests by 2030 The Coalition and its 20 members ...

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SBDG), Announces Plan to Build Nitrile Glove Manufacturing and NBR Rubber Production Facility in Texas

CARY, NC, Nov 04, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – Small Business Development Group, Inc. (OTC: SBDG) (www.SBDGStock.com) announced today that Strategic Manufacturers, Inc., (SMI), a wholly owned subsidiary, is planning to build two large manufacturing plants in the Katy, Cypress, Texas area. When fully operational, these factories will produce 4.5 billion nitrile examination gloves per year, as well ...

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BGMEA sees the future in high-end, value-added apparel

Garment exporters in Bangladesh need to focus more on high-end, value-added garments like technical garments as their demand is high in the global market, Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association, said on Tuesday ( BGMEA). The demand for articles of clothing made from synthetic fibers (MMF) is increasing in the global market, and Bangladeshi clothing ...

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Manufacturers of surgical dressings continue to strike

About 2,000 looms involved in the manufacture of surgical dressing fabrics went on strike for the second day in a row to demand a reduction in the price of raw materials. The manufacturers, under the auspices of the Association of Surgical Dressing Tissue Manufacturers, Chatrapatti, began the four-day strike from Wednesday. The looms are located in Chatrapatti, Samsigapuram, Sankarapandiyapuram and ...

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“How Nigerian Manufacturers and Exporters Can Exploit Currency Weakness” | The Guardian Nigeria News

Local manufacturers and non-oil exporters have been urged to take advantage of the devalued currency to improve their export capacity and hedge against local challenges, especially under the Continental Free Trade Area agreement. African (AfCFTA). Giving advice during the annual virtual forum for clients of the SME Directorate of the Bank of Industry (BoI), Francis Anatogu, Senior Special Assistant to ...

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Double-digit price hikes on Chinese exports add to inflation risk

(Bloomberg) – Business is booming for Zhejiang Zhendong Leisure Products, which produces about 1 million folding chairs a year at its factory in eastern China, many of which are found on porches and American gardens in across Europe. Bloomberg’s Most Read A spike in demand since the pandemic has resulted in a backlog of orders until next April and has ...

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China’s energy crisis affects everything from iPhones to milk

By Jeff Sutherland and Tom Hancock (Bloomberg) – The blow from China’s energy crisis begins to spread around the world, hurting everyone, from Toyota Motor Corp. Australian sheep farmers and cardboard box manufacturers. The extreme power shortage caused by soaring coal prices at the world’s largest exporter is expected to hurt China’s growth, and the impact on supply chains could ...

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Ford, SK to spend $ 11.4 billion to build two manufacturing campuses in the United States dedicated to electric vehicles and batteries – TechCrunch

Ford Motor Company and battery maker SK Innovation plan to spend $ 11.4 billion to build two sprawling campuses in Tennessee and Kentucky that will produce batteries as well as the next generation of F-Series electric trucks – a project that, according to the companies, will create 11,000 new jobs. The facilities on both campuses are designed to cover the ...

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Kenya: cost of imports to rise as shilling hits new low

The Kenyan shilling continued to weaken against major currencies on Monday, hitting its lowest point this year yesterday in the economy’s latest nightmare. Official data from the Central Bank of Kenya (CBK) shows the local currency traded on average at 110.16 shillings for every US dollar, which promises to make imports more expensive in the coming days. Kenya is a ...

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Exporters seek more US lines despite delays

Amid shipping delays that raised serious concerns, export industry stakeholders urged shipping companies to open more routes to the United States as most of the cargo on hold heads west. This will alleviate concerns about the movement of goods to one of the country’s main export markets, said the Philippine Exporters Confederation Inc. (Philexport) and the Supply Chain Management Association ...

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Expect food prices to rise later this year, wholesaler warns

The head of a large Irish wholesaler expects food price inflation to start in the second half of this year. im Barry, managing director of The Barry Group, based in Mallow, said the company was receiving notices from some of its suppliers regarding the price hike. “We’re seeing evidence of vendor advice on price increases, so I think there will ...

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Manufacturing sector maintains rapid growth in July

The manufacturing sector continued to grow at a rapid pace in July, albeit at a slower pace than the previous two months. According to AIB’s latest monthly monitoring of conditions in the manufacturing sector, growth in new orders has reached a new record for the third consecutive month. Production, although increasing, was partly constrained by persistent supply shortages. This had ...

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Government lacks political will to operationalize the Komenda sugar factory – Former member of the board of directors

The government headed by President Nana Addo Dankwa Akufo-Addo lacks the political will to operationalize the former Komenda sugar factory in the Komenda-Edina-Eguafo-Abrem municipality of the central region. Mr. Ransford Chatman Vanni-Amoah, former Secretary of the Board of the Komenda Sugar Factory said that the non-functioning of the factory was a ploy to thwart the presidential ambition of Mr. John ...

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The government implements its economic stability program: Dawood

SIALKOT, July 17 (APP): The Prime Minister’s Trade and Investment Advisor Abdul Razak Dawood said the government was carrying out its economic stability program. He was addressing a meeting of exporters at the Sialkot Chamber of Commerce and Industry (SCCI) on Saturday. SCCI President Qaisar Iqbal Baryar, Senior Vice President (SVP) Khurram Aslam Butt, Vice President (VP) Ansar Puri, Chairman ...

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Business groups: Repeal of 12% VAT on local purchases by exporters

MANILA, Philippines – Business groups want the Bureau of Internal Revenue (BIR) to repeal the imposition of 12% value added tax (VAT) on local purchases by exporters and indirect exports, claiming its implementation implementation could lead to job losses and discourage investment in the country. In an online press conference, the business groups, consisting of the Information Technology and Business ...

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