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News from World

download (8).jpg 10 March 2023

Brazil and Argentina united for the maintenance of the TEC

Representatives of the Brazilian Footwear Industry Association (Abicalçados) and the Argentine Chamber of Footwear Industry (CIC) met on the morning of March 7 to discuss bilateral trade in the sector. The highlight of the agenda was the importance of maintaining the tariff, Tarifa Externa do Mercosul (TEC) to prevent a possible "invasion" of Chinese products into both countries. [Brasil and Argentina unidos pela manutenção da TEC – Abicalçados]

 

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download (7).jpg 10 March 2023

The bankruptcy of the Russian retailer Paolo Conte due to debts and competition from counterfeit brands

Paolo Conte operated 81 stores and was among the largest retailers of medium-priced footwear in Russia. The bankruptcy laid bare the problems of footwear retailers with revenues of up to 4 billion rubles (50 million euros), which are currently suffering due to rising costs and declining customers. They are also at a disadvantage compared to manufacturers of counterfeit shoe brands which account for 30% of Russian imports, reaching 60% in the children's footwear segment.

 

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09 March 2023

Mauritania signs green hydrogen MoU with German focus

An international consortium led by a German company signed a $34 billion deal to produce “green hydrogen” in Mauritania. [Consortium signs $34 bln MoU for hydrogen project ... - Nasdaq – synopsis Semafor]

 

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download (5).jpg 09 March 2023

Kanye West's anti-Semitism costs Adidas a mountain of unsold shoes

Adidas is not sure what to do with $1.2 billion worth of unsold Yeezy shares after ending its partnership with Kanye West after the latter made a series of anti-Semitic comments last year, leading Adidas to pull its brand back from sale. The debacle, along with what one analyst called a "catastrophic performance" in China, could lead to Adidas' first annual loss in 31 successful years.  [Adidas warns of first loss in decades after split with Kanye West - sky.com]

 

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download (3).jpg 09 March 2023

Conference to encourage Wenzhou leather companies to invest in Pakistan

Consul General of Pakistan in Shanghai, Hussain Haider, in a webinar organised by the Wenzhou Council for the Promotion of International Trade (WCPIT), has said that Pakistan was rich in leather raw materials, synthetic leather materials, machinery and other related products and hoped that Chinese entrepreneurs could see the development potential and invest in the country’s shoe leather industry. [Chinese entrepreneurs invited to invest in Pakistan's shoe ... app.com.pk]

 

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download.png 09 March 2023

EU Commission wants 10% of critical raw materials mined in Europe (EU’s Critical Raw Materials Act)

According to EURACTIV.com, the EU believes that "10% of the Union's consumption of strategic raw materials" should be extracted in the Union. In addition, 15% of the Union's annual consumption of each critical raw material is expected to come from recycling, reads the updated document of the Législation sur les matières premières critiques (En cours 08/03/2023)

 

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