Industria de Diseno Textil SA (ITX.MC)
Latest Key Developments (Source: Significant Developments)
June 14 (Reuters) - INDUSTRIA DE DISENO TEXTIL SA
Industria De Diseno Textil SA
Inditex S A:Cambodia agreed on Thursday to raise the monthly minimum wage for its crucial textiles sector to $140 from next year, short of demands by trade unions long at odds with the government over pay - Reuters.The decision was made in a vote by representatives of the government, factories and unions, with the majority supporting an increase to $135 a month from $128. The government then raised that to $140 - Reuters.Pay for the 600,000 people who work in mostly Asian-owned factories, churning out clothes and shoes for the likes of Gap, Nike, Adidas, H&M and Inditex has been a thorny issue in impoverished Cambodia - Reuters.Major unions had been seeking a minimum wage of $160 a month, having scaled down an initial demand from $177, and threatened strikes. It was unclear if they would follow through - Reuters."This figure is reasonable and acceptable. Even it's not acceptable to all, we have no choice," Labour Minister Ith Sam Heng told reporters - Reuters. Full Article
STOCKHOLM Swedish fashion group H&M will start holding capital market days, breaking with tradition and yielding to investor pressure although it also said it would stop posting monthly sales figures.