Sri Lanka's exports of leather products and footwear were worth $49.8 million in 2022, leatherbiz informs. According to the Sri Lanka Export Development Board (EDB), there are seven tanneries operating in the country and the footwear industry directly employs about 20,000 people and indirectly includes 10 large exporting companies, 30 medium-sized companies and about 3000 small producers. It is able to produce up to 15 million pairs of leather shoes per year.
African startups have seen a big jump in venture funding through debt financing as opposed to traditional equity tools. Venture capital debt funding to African startups doubled to $1.5 billion across 71 deals in 2022, according to the latest funding report by Partech, a Paris-based startup investor. [Debt funding is on the rise at African startups - Semafor]
Türkiye has the ability and human resources to manage all the rings of the retail management chain from the design of products to their production, from procurement to storage, from display in the store to services provided to the customer. If the conditions are met, the Russians can evaluate and transfer this trained human resource for the management of their own affairs, just as the Turks did with the Europeans about 15 or 20 years ago. [Russian market offers strategic opportunities for Turkish retailers - dailysabah.com]
The latest data in the CNBC Supply Chain Heat Map shows China is losing more manufacturing to Vietnam, Malaysia, Bangladesh, India, and Taiwan. Exports in furniture, apparel, footwear, travel goods and handbags, minerals, and science and technology are all declining. China’s ‘Zero Covid’ policy is a big factor, with Port of Ningbo, the world’s largest port, the latest to be impacted. [China, 'factory of the world,' is losing its manufacturing ... - CNBC]
The confirmation of the Congress of the Inflation Reduction Act of 2022 (IRA) has fuelled fears of a transatlantic trade war in the EU. The plan – a huge fiscal, climate and health package in place from 2023 – provides subsidies of more than $369 billion to companies in the renewable sector. The law offers tax incentives to those who choose to buy products made in the USA (eg electric cars). This dissuades Americans from turning to European producers, who would be forced to produce on US territory.
The effect of the pandemic in China, where the intransigent "zero Covid" containment policy imposed in an authoritarian way by the Beijing government continues, is particularly heavy for retail chains. A Reuters dispatch reports that sales fell 0.5%, against expectations of a 1.0% increase and compared to a 2.5% increase in September. On the other hand, the country is missing its annual growth target of 5.5%. A Reuters poll predicts growth of only 3.2% in 2022.
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