Asia garment workers find aid via fashion app

by LAUREN CODLING THE founder of a UK-based fashion app has spoken of their efforts to support some of the most vulnerable communities in Bangladesh during the Covid pandemic. Mallzee is a fashion shopping app which allows users to browse over two million products from more than 100 fashion brands across the world. In light […]

Indorama Ventures acquires PET recycling facility in Brazil

INDORAMA VENTURES LIMITED (IVL) has acquired PET recycling company AG Resinas through its indirect subsidiary Indorama Ventures Polimeros S.A. The transaction was completed on Monday (8). Situated in in Juiz de Fora, AG Resinas processes post-consumer PET into Recycled Polyethylene Terephthalate (rPET) flakes and pellets with a combined capacity of around 9,000 tonnes per year. The […]

Top supplier Malaysia sees no quick end to shortages in $8 billion gloves industry

A global shortage of medical gloves due to a coronavirus-driven surge in demand will carry over into next year, Malaysia, the world’s biggest gloves supplier, said on Thursday (4), warning buyers to be wary of scammers promising quick supplies. World consumption of the personal protective equipment is estimated to jump more than 11 per cent […]

LG chairman apologises over gas leak, fire

LG Group chairman Koo Gwang-mo apologised Wednesday (20) over two fatal accidents at LG Chem facilities in the past two weeks, reports said, including a gas leak in India that killed 12 people. LG Group is the fourth-biggest of the chaebols, the family-controlled conglomerates that dominate business in South Korea, the world’s 12th-largest economy. LG […]

COVID-19: SAARC nations unveil stimulus packages to protect economy

In a bid to protect the economy from COVID-19 pandemic, the South Asian Association for Regional Cooperation (SAARC) member nations have unveiled economic stimulus packages. India, a $2.9 trillion economy – the biggest in the eight-member SAARC grouping, has unveiled $22.6 billion economic stimulus plan, providing direct cash transfer to poor senior citizens and women […]

COVID-19 to hit Asia’s growth: World Bank

THE coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said on Tuesday (31). The bank said that the growth in developing economies in the region to slow to 2.1% in 2020, and to -0.5% in a lower-case scenario, compared […]

This Chinese auto-firm is now the world’s largest face mask maker

CHINESE electric vehicles maker BYD Co has announced that it is now the world’s biggest face mask maker. The company’s Shenzhen facility in China now produces five million masks a day and is now further expanding capacity. Besides, the plant also produces over 300,000 bottles of disinfectants per day. The company has managed to expand […]

Indorama Ventures secures Thailand’s first sustainability loan

CHEMICAL manufacturer Indorama Ventures Public Company Limited (IVL), has secured Thailand’s first-ever cross-border sustainability-linked ninja loan of £211million. This syndicated loan of £211m with five-year maturity comprises of 16 Japan-based banks and institutions. The loan is structured with linkage to the sustainability performance of IVL and have a mechanism to adjust to a lower interest […]

Indorama, Coca-Cola ink deal to build recycling plant

INDORAMA VENTURES and Coca-Cola have inked a joint-venture to establish PETValue, the largest state-of-the-art, bottle-to-bottle recycling facility in the Philippines. The facility will be established at General Trias in Cavite, located on the southern shores of Manila Bay. The plant is expected to be operational in 2021 with the support of Coca-Cola Beverages Philippines, Inc […]

COVID-19 will cut global growth by 0.1% to 0.4%, says ADB

THE Asian Development Bank (ADB) said on Friday (6) that the coronavirus outbreak is set to trim economic growth in developing Asia and around the world this year. The outbreak could slash global gross domestic product by 0.1 to 0.4%, with financial losses forecast to reach between $77 billion and $347 billion, the Manila-based lender […]

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