INTERNATIONAL
Textile Raw Material Price 2016-03-09
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1093.88 |
USD/Ton |
0% |
3/9/2016 |
|
VSF |
2065.03 |
USD/Ton |
1.36% |
3/9/2016 |
|
ASF |
1913.91 |
USD/Ton |
0% |
3/9/2016 |
|
Polyester POY |
1101.56 |
USD/Ton |
4.06% |
3/9/2016 |
|
Nylon FDY |
2209.25 |
USD/Ton |
0% |
3/9/2016 |
|
40D Spandex |
4525.89 |
USD/Ton |
0% |
3/9/2016 |
|
Nylon DTY |
1281.06 |
USD/Ton |
1.83% |
3/9/2016 |
|
Viscose Long Filament |
2025.14 |
USD/Ton |
0% |
3/9/2016 |
|
Polyester DTY |
2098.02 |
USD/Ton |
0% |
3/9/2016 |
|
Nylon POY |
1178.27 |
USD/Ton |
3.78% |
3/9/2016 |
|
Acrylic Top 3D |
2470.06 |
USD/Ton |
0% |
3/9/2016 |
|
Polyester FDY |
5717.96 |
USD/Ton |
0% |
3/9/2016 |
|
30S Spun Rayon Yarn |
2746.22 |
USD/Ton |
0% |
3/9/2016 |
|
32S Polyester Yarn |
1733.65 |
USD/Ton |
6.60% |
3/9/2016 |
|
45S T/C Yarn |
2454.72 |
USD/Ton |
0% |
3/9/2016 |
|
45S Polyester Yarn |
2899.64 |
USD/Ton |
0.53% |
3/9/2016 |
|
T/C Yarn 65/35 32S |
2424.04 |
USD/Ton |
0% |
3/9/2016 |
|
40S Rayon Yarn |
1841.04 |
USD/Ton |
4.35% |
3/9/2016 |
|
T/R Yarn 65/35 32S |
2117.20 |
USD/Ton |
0% |
3/9/2016 |
|
10S Denim Fabric |
1.07 |
USD/Meter |
0% |
3/9/2016 |
|
32S Twill Fabric |
0.90 |
USD/Meter |
0% |
3/9/2016 |
|
40S Combed Poplin |
0.97 |
USD/Meter |
0% |
3/9/2016 |
|
30S Rayon Fabric |
0.72 |
USD/Meter |
0% |
3/9/2016 |
|
45S T/C Fabric |
0.74 |
USD/Meter |
0% |
3/9/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15342 USD dtd.09/03/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The government is likely to announce a modified and simplified textile policy soon, said Textiles Secretary Rashmi Verma. Talking to The Hindu, Ms. Verma said the new policy was aimed at increasing the production and productivity of textile sector, generating more employment, bringing down the cost of production, penetrating into newer markets, and introducing more value added products and focusing both on exports and domestic markets. Besides, the Textiles Ministry was also seeking some relaxation in labour laws such as allowing women to work at night. “Currently, we are having discussions with the Labour Ministry. Tamil Nadu has already done it. We also want modification in contract laws,” she said.
Mentioning that the growth of textile sector was limited due to factors such as high cost of production, sudden spurt in interest rates on working capital and increase in labour wages, she said they were in discussion with the Finance Ministry to offer some kind of tax incentives to the weavers to make the sector attractive. This also included tax holidays and interest subvention among others. When pointed out that exports from India would become unviable after 2017 as India was a signatory to WTO guidelines, she said a meeting of all stakeholders would be held next month to take stock of the current situation. It would also review which were the subsidies and concessions that could be continued or phased out.
Production-related sops
“Most of the incentives or subsidies given by the Ministry are production related. Those related to processing and skilling would be continued,” she said. Regarding the revised Textile Upgradation Fund Scheme, Ms. Verma said revised guidelines had been finalised. “It is being placed before the Cabinet.”
SOURCE: The Hindu
Textile companies have urged the government to roll back the proposed excise duty on branded readymade garments and continue with the ‘optional duty regime’ that applies currently, until the goods and services tax (GST) is introduced. While presenting the Budget, Finance Minister Arun Jaitley had proposed a one per cent excise duty on readymade garments worth Rs 1,000 and above. “Once GST is introduced, the whole value chain will be covered by duty and traceability as well as compliance will improve tremendously and implementation problems will also ease considerably. Till then, the government must do away with excise duty,” said Rahul Mehta, president, Clothing Manufacturers Association of India. The excise duty on finished products was an experiment implemented a few years ago by the previous government, which was withdrawn later as it was found impractical. “We have in the past pointed out that the task of collecting this excise duty from the highly dispersed and mostly tiny units in the garment sector would be a formidable one for the government, especially when the rest of the value chain remains exempted and, therefore, traceability is a serious issue,” said Mehta. “The large number of small and tiny units in the sector will also find it impossible to follow the procedures involved. The result will be that evaders will prosper and compliant units will suffer. The introduction of the Rs 1,000 cut-off price point for the applicability of excise duty will further complicate and impact the sector.” Mehta added. Jewellers and bullion dealers have been protesting the excise duty since the Budget was presented in Parliament on February 29.
SOURCE: The Business Standard
The post-Budget relief rally in the rupee may be in for a pause. The rupee rose to a high of 67.08 on Friday. But the dollar gaining strength, following weak Chinese trade data, limited the uptrend in the rupee. The currency fell to a low of 67.51 on Wednesday. It, however, managed to recover slightly from this level to close at 67.22, up 0.5 per cent for the week. Foreign portfolio investors (FPIs) appear to be returning to Indian equities after the Budget. They have bought $857 million into equities since then. If this trend continues, then it could help limit the downside in the rupee in the short term. However, FPIs continue to remain net sellers in the debt segment, selling $169 million post-Budget. A strong outflow in the debt market can play spoiler, limiting the strength in the rupee.
An eventful week
As the impact of the Budget impact wanes, a series of data and events unfolding this week can influence the rupee movement. The outcome of the European Central Bank (ECB) meeting is due this evening. Any sharp sell-off in the euro can bring the rupee under pressure as well. On the domestic front, the Index of Industrial Production data will be released on Friday. It will be followed by inflation numbers; both the Wholesale Price Index (WPI) as well as the Consumer Price Index (CPI) data. India’s trade data is also scheduled for release during the week.
Dollar index
The pull-back in the dollar index (97.35) from a high of 98.6 found support at the 200-day moving average near 97. The index has reversed higher from the low of 96.89. If it manages to sustain above 97, then a rise to 98 and 98.3 looks likely this week. But the index will come under pressure if it declines below 97. Such a break can drag it to 96.3 and 96 thereafter. The outcome of the ECB meeting today could be a key trigger to decide the next leg of the dollar index movement. The rupee has an important resistance near 67 which is holding up for now. On the other hand, significant support exists in the 68-68.25 zone. A breakout on either side of 67 or 68.25 will decide the next leg of movement in the rupee. The short-term trend is leaning towards the positive. So, a strong break above 67 can strengthen the rupee towards 66. Inability to break above 67 will keep the currency range-bound between 67 and 68.25 for some time. A fall below 68.25 can take the rupee lower to 68.50 and 68.75. For the medium term, strong resistance for the currency is at 66, which is the channel resistance. The currency has been moving within a bear channel since 2014. Therefore, a move past 66 looks less probable. However, the rupee can test this level in the coming weeks. A reversal from 66 can increase the danger of the rupee falling to 70 levels.
SOURCE: The Hindu Business Line
The Indian economy is expected to grow at a steady pace. According to the Advanced Estimates released by Central Statistics Office (CSO), the growth of GDP at constant (2011-12) market prices is estimated at 7.6 per cent in 2015-16. This indicates that despite uncertainties in the global economy, Indian economy stands out as a haven of macroeconomic stability, resilience and optimism and can be expected to register GDP growth that could be in the range of 7 to 7.75 per cent in the coming year, Minister of State for Finance Jayant Sinha said in a written reply to a question in Lok Sabha on Tuesday. The International Monetary Fund, in their World Economic Outlook Update (January 2016) has indicated that India is projected to continue growing at a robust pace.
As per the Budget 2016-17, the fiscal deficit as a ratio of GDP at current market prices is estimated at 3.9 per cent for the year 2015-16 (revised estimates). According to the Advanced Estimates released by Central Statistics Office (CSO), the growth of GDP at constant (2011-12) market prices is estimated at 7.6 per cent in 2015-16. This estimation has been done in accordance with the international best practices. The fixed investment (measured by Gross Fixed Capital Formation) by the private corporate sector increased from 11.7 per cent of the GDP at current market prices in 2013-14 to 12.3 per cent in 2014-15 (the latest year for which data is available), despite indications of constraints like stressed assets. Investment depends on various factors that, interalia, include: expectations of demand viz-a-vis the available capacity, expected profit, business climate and interest rate.
The Government has taken a number of steps to improve the business climate and boost investment in the economy which, among other, include: the “Make in India” initiative along with the attendant facilitatory measures for a more conducive environment for investment; Start-up India initiative to boost entrepreneurship and creation of jobs; opening up of specified sectors for foreign direct investment; and investment-augmenting tax measures. The Reserve Bank of India reduced the policy repo rates by 125 basis points during 2015, Sinha said in the written reply.
SOURCE: Fibre2fashion
Investment commitments worth $45.68 billion have been made through Foreign Direct Investment (FDI) inflows after the launch of ‘Make in India’ initiative in September, 2014, the Commerce Ministry has said. The investment commitments have been made in the period between October 2014 and December 2015, Commerce & Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha on Wednesday. The Minister also pointed out that a little over 90 per cent of the total FDI received during April-December 2016 came through automatic route, the government said.
According to the Department of Industrial Policy and Promotion (DIPP), the country has received $29.44 billion foreign direct investment (FDI). She said government has put in place a liberal and transparent policy for FDI, wherein most of the sectors are open to FDI under the automatic route. “FDI equity inflow received through automatic route and approval route during the current financial year (up to December 2015) is 90.24 per cent and 9.76 per cent respectively,” Sitharaman said.
Demand for electronics
In a separate reply, the Minister said the demand for electronics in the Indian market is expected to reach $ 400 billion by 2020. Without intervention, at the current rate of growth, domestic production can cater to a demand of about $ 100 billion by 2020, she added. She said that the government has taken several steps to promote electronics hardware manufacturing in the country.
SOURCE: The Hindu Business Line
Looking to increase bilateral trade with India, Chile is hopeful of having a comprehensive Preferential Trade Agreement (PTA) with India in the second quarter of this year. Talking to FE, Andres Barbe, ambassador of Chile to India, said, “The trade agreement would be in interest for both the countries. Negotiations between the two sides were finished in 2014. However, in 2015, the Indian side had expressed some concerns over copper and also on rules of origin, but these concerns are being sorted out through talks. We want Chilean products to come to India and Indian products to reach our markets.” “Almost 91% of trade between the two countries is in commodities, especially copper which is close to $1.7 billion, comes to India,” Barbe said, adding, “Since the PTA will include both goods and services, Chile has expertise in the services which we are keen on sharing with India.” Since 2007, the two countries already have a preferential trade agreement (PTA), which covers about 400 items. But the bilateral trade has fallen to $2.87 billion. “In 2009, we agreed to start negotiations to widen the agreement, which would include new products, subject to tariff preferences, and deepening in matters related to rules of origin, sanitary and phytosanitary measures (MSF) and technical barriers to trade (TBT),” the diplomat added.
SOURCE: The Financial Express
In a first for Asia, the International Monetary Fund (IMF) will set up a knowledge-sharing centre in India, to provide technical support and assistance here and to five other South Asian nations. Their team will extend expertise in core macroeconomic and financial management areas, said an unnamed government source. An agreement is likely to be signed here on Saturday by IMF Managing Director Christine Lagarde with Prime Minister Narendra Modi. The new IMF centre, being set up amid global economic uncertainty, will provide assistance to India, Nepal, Bangladesh, Sri Lanka, Pakistan and Bhutan. Since the IMF team will be based out of the region, it will ensure better understanding of regional concerns, including trade, agriculture, climate change, facilitating a reform process and support to regional integration. The knowledge centre will come up in the wake of IMF announcing implementation of its long-pending quota reform, giving more voting rights to emerging economies. With these changes, to be effected in the coming days, India’s quota in the IMF would rise to 2.7 per cent from the existing 2.44 per cent. Also, the voting share of India would increase to 2.6 per cent from 2.34 per cent. For the first time, four emerging market (EM) countries of the Brics bloc — Brazil, China, India and Russia — will be among the 10 largest members of IMF. Two new multilateral agencies are also being set up — a New Development Bank of the Brics countries and an Asian Infrastructure Investment Bank.
An Asian economic crisis did occur in the late 1990s but from the Southeast Asian ‘tigers’ of that time. This time, one could emanate from China or another large economy from the EMs. According to the Economic Survey of 2015-16, if this kind of crisis does emerge, it would be very different from those of earlier decades. Since the 1980s, it said external financial crises have followed one of three basic forms — Latin American, Asian or global models. In a Latin American debt crisis, governments went on a spending binge, financed by foreign borrowing (of recycled petrodollars) while pegging their exchange rates. In the Asian one of the late 1990s, the transmission mechanism was similar — overheating and unsustainable external positions under fixed exchange rates — but the instigating impulse was private borrowing rather than governnment borrowing. The global one of 2008, with America as its epicentre, was unique in that it involved a systemically important country and originated in doubts about its financial system. If a crisis occurs in China or another large EM, it is more likely to resemble events of the 1930s, when the UK and then the US went off the gold standard, triggering a series of devaluations by other countries and leading to a collapse of global economic activity. If such a crisis hits India, it will require fresh prescriptions and it is here that the IMF centre would be of help, a source said.
SOURCE: The Business Standard
The temperature in India-US trade relations has suddenly risen. First, the World Trade Organization (WTO) ruled in favour of the US which challenged India's norms for local content in imported solar power equipment under its subsidy programme. Right after that, India complained against the US to the WTO for doubling fees for issuing non-immigrant temporary work visas like H-1Bs, widely used by Indian software companies to send workers to the US to work on projects there. What is more, the US president, Barack Obama, has said that "we can't have other countries cheating" and "we have just won a case against India." The temperature within the US has also risen with both Democratic (Bernie Sanders) and Republican (Ted Cruz and Donald Trump) presidential aspirants targeting the US visa regime for allowing the import of cheap labour which they claimed was taking away jobs from US workers. The importance of the issue can be gauged from the fact that Mr Trump first spoke in favour of giving more visas to highly skilled foreign workers during a presidential debate - but right after that issued a statement which called the H-1B visa "a cheap labour programme" which was "rampant with abuse" and pledged to ensure that American workers were hired "first" for "every visa and immigration programme".
The Indian concern, articulated by Nasscom, the software industry association, is that the doubling of visa fees will add $400 million in annual costs to the industry and reduce profit margins of leading companies by 50-60 basis points. Indian temporary workers pay a billion dollars a year in social security contributions whose benefits they are mostly unable to use. WTO rules prohibit imposing fees to restrict the number of temporary workers. Fees should not serve as an independent form of restriction but be levied only to recover costs. The upshot of this will be that the US, as a result of the doubling of visa fees, will be treating Indian workers in the US less favourably than their American counterparts. What is most irksome is that the way the higher visa fees have been made applicable - to companies with more than 50 employees or more than 50 per cent of their US employees on H-1B and L-1 visas. This means they will not be payable by an IBM but by an Infosys.
The fundamental concern for India is that under the WTO's trade and investment liberalisation regimes, just as India has to lower entry barriers for goods and investment, its export of services through the movement of natural persons or temporary workers should not face entry barriers. However, the Doha round of trade negotiations which should have addressed such issues has not moved forward - in large part due to Indian intransigence. The only long-term solution which satisfies issues of both equity and economics is for workers in developed countries to move to jobs requiring higher skills, thus leaving jobs requiring lower skills for workers from poorer countries.
SOURCE: The Business Standard
According to CITH, the Textile and Clothing Information Centre, the EU textile and clothing exporters succeeded in gaining further market shares in Third countries (+3.6%). On the imports side, the EU imports picked up by +9.6% in value terms, due to sharp increases from Asian countries. On the contrary, imports from the Mediterranean area (Turkey, Egypt, Morocco, and Tunisia) achieved a modest growth or even decreased over the period. This 2015 evolution impacted the overall trade balance of the EU-28 which deficit deteriorated further in value, by + 14% (+29% for textiles and +13% for clothing).
EU T&C exports went up by 3.6% in 2015 Textiles’ sales to the U.S., EU’s top market, recorded a noticeable growth rate (+16%), thanks to a favorable exchange rate. Moreover, among the EU top10 customers, moderate expansion was recorded by Hong Kong and China (with respectively +7% and +6%). On the contrary, exports to Russia (-27%) and Ukraine (-1%) slipped back again, as economy remains depressed in these markets. Clothing exports to its main consumers indicated a higher growth rates than for textiles. Data shows a noticeable growth in the U.S., Hong Kong, South Korea, Canada and China (with rates between +19% and +22%), which made the US the 2ndlargest EU customer and China the 6th. Exports to the Saudi Arabian and Mexican markets also experienced a significant expansion (with respectively +17% and +15%). Russia and Ukraine on the other hand declined, following the political turmoil. EU T&C imports rise 9.6% in 2015
Textile imports coming from EU top 20 suppliers were all up, except from Egypt, Thailand and Australia. Among the main suppliers, the US witnessed the highest growth with +16%, followed by China, Pakistan and Vietnam (with +11%). At the bottom of the ranking, Morocco and New Zealand records respectively a +17% and +39% increase. Clothing imports coming from most Asian countries recorded double digit growth rates. The top supplier, China, recorded a +6% increase, with 30 billion of clothing articles sold to the EU market. In second place, Bangladesh recorded a +24% increase. Strong imports’ upturns were also observed from: Cambodia (+31%), Vietnam (+26%), Hong Kong (+25%) and the US (+26%). With a +79% increase, Myanmar is now ranking 17th in the top-20 EU’s clothing suppliers.
SOURCE: The Tecoya Trend
China’s six large viscose producers representing more than 85 billion USD in annual revenues have signed CanopyStyle campaign with Canadian environmental NGO Canopy to the growing roster of fashion and textile leaders committed to eliminating the world’s ancient and endangered forests from their fabrics. Shandong Yamei Sci-tech Co. Ltd, Tangshan Sanyou Xingda Chemical Fiber Group Co. Ltd., CHTC Helon Co. Ltd., Nanjing Chemical Fiber Co. Ltd. (NCFC), Zhejiang Fulida Co. Ltd., and Xinxiang Chemical Fiber Co. Ltd. are all unveiling their first Pulp Procurement Policies for Protecting Forests, developed in collaboration with Canopy. The policies commit to eliminating sourcing from threatened forest ecosystems, high-carbon rainforests, and socially controversial sources in the production of their viscose and rayon textiles.
Leading brands and designers continue to send a clear market signal to the world’s main viscose manufacturers in China, said Nicole Rycroft, Canopy’s founder and Executive Director. The leadership of these six producers now means that viscose manufacturers representing close to 65 percent of global rayon production are committed to the CanopyStyle campaign — which has established the now global trend that endangered forest fabrics are out of vogue. Dr. Christian Reisinger, CEO of Shandong Yamei Sci-tech Co. Ltd said that with the continued shift in brands’ environmental requirements, incorporating sustainable forest fiber procurement criteria is a sound business decision. They are committed to working with all their suppliers and customers to eliminate ancient forests and other controversial sources from their supply chain, particularly from the Canadian and Russian Boreal Forests, Coastal Temperate Rainforests, tropical forests and peatlands of Indonesia, the Amazon and West Africa, and other endangered species habitat. They are on the eve of a revolution in the apparel industry where new alternative fibers such as garment waste, recovered fabrics, agricultural residues, and other non-woods can be part of the solution to reduce the pressure on the world’s forests, said Li Baikuan from Tangshan Sanyou. Their company is expanding the scope of their work on alternative fibers and they look to explore whether they can become a replacement for forest fiber. This is a challenge they are happy to face with the support of Canopy. The CanopyStyle campaign launched in October 2013 has now built strong market momentum with over 60 brands, designers, and retailers adopting commitments to address the rising use of fiber from ancient and endangered forest in fabrics. As a strategic and customer-focused part of the fashion supply chain, viscose producers have responded rapidly and favorably to the need for new forest conservation solutions.
SOURCE: Yarns&Fibers
A meeting of the Belarusian-Pakistani Business Council will take place in Karachi on 10-11 March, BelTA learnt from the press service of the Belarusian Chamber of Commerce and Industry. The Council will consider the issues of trade and economic cooperation between Belarus and Pakistan, organize talks with owners and heads of Pakistani companies, interested in establishing and expanding trade, economic and investment cooperation with the Belarusian business. While in Pakistan, the Belarusian delegation will have an opportunity to attend the exhibition Textile Asia Karachi 2016. The Textile Asia Karachi exhibition in Pakistan gathers producers of textile goods, investors, regional buyers of sewing equipment, importers, and entrepreneurs under one roof and makes a venue to get familiar with the latest technology, products and services of the textile industry, establish business contacts. This year's exposition will display the cutting-edge equipment, raw material and accessories for textile and clothes manufacturing.
SOURCE: The Belarus news
The government submitted a set of bills to parliament Tuesday to introduce a Pacific Rim free trade deal, with the aim of ratifying the pact and enacting the bills by the end of May. Japan, the United States, Australia, Brunei, Canada and seven other countries signed the Trans-Pacific Partnership treaty last month following their agreement last October. The 12 countries, also including Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, agreed to remove or lower tariffs and introduce unified international trade and investment rules under the deal that covers 40 percent of the global economy. The Japanese government is required to remove tariffs on 95.1 percent of farm, industrial and other imported products in value terms under the pact, while it expects the free trade initiative to boost its real gross domestic product by 13.6 trillion yen ($112 billion) or 2.59 percent from fiscal 2014. Deliberations on the bills are expected to start next month in the House of Representatives and further discussions are set to take place in the House of Councillors in May. Prime Minister Shinzo Abe’s ruling bloc is expected to face intense debate prior to the upper house election this summer with opposition parties claiming that Japan’s call for five key farm products including rice, beef and pork to be exempt from tariff elimination is not sufficiently reflected in the TPP agreement. The government hopes to enact the bills ahead of the Group of Seven summit hosted by Japan in late May.
SOURCE: The Market Pulse
The Trans Pacific Partnership (TPP) will give Malaysia a 'double bonus' as companies can source from the best suppliers in the global value chains, said a senior trade economist. "Malaysia's pursuit of increased openness and its engagement in the global value chains will benefit from the TPP, Regional Comprehensive Economic Partnership (RCEP) and WTO IT agreement," HSBC global research senior trade economist Douglas Lippoldt told a media briefing. Lippoldt, formerly from OECD, estimated Malaysia's trade volume could jump by 20 per cent while its GDP could grow by 7 per cent once the TPP takes shape. The landmark trade deal, which was signed by the 12 signatories in Auckland on Feb 4, is now being ratified by all the countries. Apart from Malaysia, the other countries are Australia, Brunei, Canada, Chile, Japan, Mexico, New Zealand, Peru, Singapore, US and Vietnam.
SOURCE: The New Straits Times Online
A new report by the Haas Institute for a Fair and Inclusive Society at the University of California, Berkeley finds that the Trans-Pacific Partnership (TPP), the mega-regional trade deal, raises serious concerns about how a world economy reregulated to suit corporate interests would undermine public accountability, transparency, and democratic participation. Co-authored by john a. powell, Elsadig Elsheikh, and Hossein Ayazi, the Haas Institute's analysis underscores how the TPP would grant greater transnational corporate influence over the fate of one third of all world trade, with TPP signatory members producing 40 percent of all global economic output. The TPP's nuanced provisions will give corporations the power to evade environmental regulations, bypass national courts and override governments, and control workers' movements throughout the TPP countries. Since the release of TPP text, debate has emerged over whether the trade deal will, in fact, stimulate economic growth and create jobs or violate labor laws and tank the economies of developing nations. While these discussions address important concerns, they have also overshadowed the deeper implications of the TPP. If it passes, the TPP would threaten key democratic principles, such as transparency and public accountability.
The TPP will drastically erode national and international protections for labor, including driving down the wages of US workers by putting them into competition with poorly paid TPP countries' workers. Restrictions on generic medicines will surge the prices of drugs throughout the world, with serious implications on global health and wellbeing. TPP also reduces environmental protections that minimize the harm caused by logging, trafficking, and pollution. These are just a few examples of impacts egregious and large enough in scale to warrant public scrutiny.
SOURCE: The PR Newswire
