Relocation and OEMs have not been an engine of development in Africa. In Kenya, the focus has been placed on SMEs. President Ruto launched microloans for small and medium-sized enterprises (SMEs) and seed loans, through the Hustler Fund. $23,7 million: the amount (2.9 billion Kenyan shillings) that had been borrowed by Kenyans from President William Ruto’s Hustler Fund since it went live on Nov. 30.
As Sri Lanka’s new parliament took control Friday in the capital city of Colombo, global investors have been scrambling to take stock of the island nation’s rapidly shifting landscape. @SourcingJournal reports that Sri Lanka's garment sector has largely been holding its ground through months of turmoil, even as manufacturers field a crush of calls from jittery investors and buyers. How long will it last with inflation above 50%? A social bombshell that could overwhelm fashion OEMs
"Asia is losing weight in the role of the world's factory; production and retail must be recalibrated. The Mediterranean will be the dock of long-haul maritime trade," writes the Catholic-inspired newspaper Avvenire. The transport crisis, with the considerable increase in costs, pushes to redraw the maps of world trade", writes Reuters.
Wall Street falls as growth stocks, glum China data weigh. European Stock markets struggle as fears over economy grow. Chinese economy takes a hit as Beijing, Shanghai reel under lockdown. Industrial production and retail sales are in sharp decline: Q1 sales of Yue Yuen - largest branded athletic and casual footwear OEM manufacturer in the world - hurt by declines at Pou Sheng retail division. Crocs, Under Armour and Adidas all reported headwinds to their businesses in China.
Aspen Security Forum Executive Director Anja Manuel joins Emily Chang to discuss the impact of China's lockdowns on its population, its economy, and its tech competitiveness, and how U.S./China relations will evolve as the war in Ukraine rages on. [Shanghai Lockdown Tests China's Zero Covid Policy -Bloomberg]
The Pay Up campaign tells how, despite the return to profit in 2021 after the Covid-19 crisis, many brands are still refusing to pay wages
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