Connect with us

Fashion

Global economy doing better than feared, but worse than needed: IMF MD

Published

on

Global economy doing better than feared, but worse than needed: IMF MD



The global economy remains resilient in the face of multiple shocks, according to International Monetary Fund (IMF) managing director Kristalina Georgieva, who recently told the G20 Leaders’ Summit in Johannesburg that stubbornly low growth, high debt and rising uncertainty continue to hold back many countries, especially the poorest.

“My headline message today is very straightforward. The global economy is doing better than we feared, but worse than we need,” she said.

The global economy is resilient amid multiple shocks, IMF MD Kristalina Georgieva recently said.
Stubbornly low growth, high debt and rising uncertainty continue to hold back countries, especially the poorest, she noted.
“The global economy is doing better than we feared, but worse than we need,” she told the G20 Leaders’ Summit.
But it remains below pre-COVID levels, while debt is ‘exceptionally high’.

She said resilience has been driven by a strong private sector and years of strengthened policies and institutions, including cooperation within the G20.

But global growth remains below pre-pandemic levels, while debt is ‘exceptionally high’, leaving many developing and low-income countries unable to invest in essential services and climate resilience.

Urging governments to reinforce confidence through credible and predictable policies, restore buffers and tackle domestic imbalances that feed broader global vulnerabilities. Structural reforms will also be essential to unlock private-sector potential, she said.

There is a need to modernise trade rules for the digital economy and mobilise new financing for countries in need.

The IMF is expanding its permanent quota resources by 50 per cent, a decision supported by G20 members, she said.

Though advances in artificial intelligence (AI) could boost global growth by nearly 1 per cent, she cautioned that AI’s impact will be uneven, with up to 60 per cent of jobs in advanced economies potentially affected. She called for urgent investment in digital infrastructure, skills, flexible labour markets and ethical regulation.

Geopolitical tensions, technological and demographic transformations, and frequent severe climate events are contributing to heightened uncertainty and pushing risks up, she added.

Fibre2Fashion News Desk (DS)



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fashion

US CBP to soon launch electronic system for importers to claim refunds

Published

on

US CBP to soon launch electronic system for importers to claim refunds



US Customs and Border Protection (CBP) recently announced that it will launch an electronic system on April 20, enabling importers to submit and process tariff refund claims more efficiently.

CBP is developing the Consolidated Administration and Processing of Entries (CAPE) functionality within the Automated Commercial Environment (ACE) to streamline the submission and processing of valid refund requests for duties imposed under the International Emergency Economic Powers Act (IEEPA), as authorised by court order or applicable law.

US Customs and Border Protection will launch on April 20 an electronic system that importers can use to claim tariff refunds authorised by court order or applicable law.
Phase 1 will be limited to certain unliquidated entries and certain entries within 80 days of liquidation.
Refunds will be issued within 60-90 days of the Consolidated Administration and Processing of Entries declaration getting accepted.

Phase 1 will be limited to certain unliquidated entries and certain entries within 80 days of liquidation.

CAPE is designed to consolidate refunds of IEEPA duties including interest rather than processing refunds on an entry-by-entry basis.

CBP plans to implement CAPE through a phased development approach, adding more functionality in subsequent phases for more complicated scenarios, it said in a release.

Valid IEEPA refunds will generally be issued within 60-90 days following acceptance of the CAPE declaration, unless a compliance concern requires further CBP review.

However, certain scenarios, such as entries that are extended, suspended or under review, and warehouse entries, will maintain their liquidation status with validated refunds issued at liquidation.

Fibre2Fashion News Desk (DS)



Source link

Continue Reading

Fashion

US’ Gap & FIT launch programme to mentor fashion students

Published

on

US’ Gap & FIT launch programme to mentor fashion students



At the FIT Annual Gala on April 14, Gap Inc. President & CEO Richard Dickson (NYSE: GAP) announced the launch of The Doris Fisher Creators Program, a new mentorship initiative developed in partnership with Gap Inc. and the Fashion Institute of Technology (FIT).

Named in honor of Gap Inc. co-founder Doris Fisher, the program reflects her legacy of creativity, curiosity, and belief in people. It also builds on Gap Inc.’s commitment to helping bridge the opportunity gap by creating stronger connections between education and careers in the fashion industry.

Gap Inc., led by Richard Dickson, has launched The Doris Fisher Creators Program with the Fashion Institute of Technology to mentor students in fashion careers.
Starting Fall 2026, the programme will offer structured mentorship, industry exposure, and networking for select students, honouring Doris Fisher and strengthening pathways from education to careers.

“Gap Inc. is a house of iconic American brands guided by our purpose — to bridge gaps to create a better world. That includes bridging the opportunity gap. FIT embodies that same spirit, bringing education and industry together to unlock talent and expand what’s possible. We’re committed to opening doors, investing in emerging creatives, and building meaningful pathways into this industry for the next generation,” said Dickson.  

The Doris Fisher Creators Program will connect FIT students with Gap Inc. leaders and creatives through a structured mentorship experience designed to provide exposure to the business of fashion, industry insights, and meaningful professional connection. 

The program will launch in Fall 2026 and run through the academic year, and the inaugural cohort will include students from select disciplines, including Fashion Design, Graphic Design (Apparel), and Fabric Styling.

“Supporting emerging talent is a core expression of Gap Inc.’s purpose in action. Through initiatives such as The Doris Fisher Creators Program — alongside This Way ONward, the Rotational Management Program, and our broader internship and mentorship efforts — the company continues to bridge the opportunity gap for young people looking to start meaningful careers in fashion and retail,” added Amy Thompson, Chief People Officer at Gap Inc.   

“We are incredibly proud to be the first public college to partner with Gap Inc. on this groundbreaking mentorship program. This remarkable opportunity with one of the world’s most iconic brands will support 30 talented FIT students over the next year, placing them at the intersection of innovation and impact,” said Jason S. Schupbach, president of FIT.

A benefit for the FIT Foundation, this year’s FIT Annual Gala honored Gap Inc. President & CEO Richard Dickson and was attended by distinguished guests and alumni including Ciara, Aloe Blacc, Zac Posen, Bob Fisher and others. 

The FIT Foundation provided scholarships totaling more than $3 million in 2025.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



Source link

Continue Reading

Fashion

Italy’s inflation edges up to 1.7% in March: Istat

Published

on

Italy’s inflation edges up to 1.7% in March: Istat



Italy’s consumer price inflation accelerated in March 2026, with the national index (NIC) rising 0.5 per cent month on month (MoM) and 1.7 per cent year on year (YoY), up from 1.5 per cent in February, according to a flash estimate by Italian National Institute of Statistics (Istat).

The increase was driven largely by energy prices, as declines in regulated and non-regulated energy products eased significantly. In contrast, inflation in services slowed, Istat said in a press release.

Italy’s inflation rose to 1.7 per cent year on year in March 2026, driven by higher energy, according to Istat. Monthly inflation stood at 0.5 per cent.
Core inflation eased to 1.9 per cent, while services inflation slowed.
The HICP increased 1.6 per cent annually, with lower-income households experiencing relatively smaller price rises than higher-spending groups.

Core inflation, which excludes energy and unprocessed food, moderated to 1.9 per cent from 2.4 per cent, while inflation excluding energy eased to 2.1 per cent.

On a yearly basis, goods prices rose 0.8 per cent compared with a slight decline in the previous month, while services inflation slowed to 2.8 per cent from 3.6 per cent. This narrowed the inflation gap between services and goods.

On a monthly basis, the rise in the index was mainly led by increases in regulated energy prices, up 8.5 per cent, and non-regulated energy prices, up 5 per cent, along with gains transport services.

The harmonised index of consumer prices (HICP) rose 1.7 per cent MoM and 1.6 per cent YoY, slightly above the earlier estimate. In the first quarter, inflation remained lower for households with weaker spending capacity compared with higher-spending households.

Fibre2Fashion News Desk (SG)



Source link

Continue Reading

Trending