World

Developing Countries are now Experiencing a Boost in the Demand for Personal Loans

Published

5 years ago

July 25, 2020

The lending industry is experiencing a boom at a global level and the effect is largely seen in developing countries. There are certain reasons responsible for it and one of them is the ease of availability of lending services. Now, in today’s time, the lending services are easily accessible to everyone with a click of a few buttons.

And one can easily apply for personal loans even with a bad credit report. Many financial experts have admitted that no involvement of any collateral, ease of accessibility, debt consolidation facility, and minimal documentation are the common reasons for the high demand for personal loans.

Moreover, personal loans offer flexible loan tenure and one can again get the amount in his account in a limited time. Hence, the high comfort involved in this lending process is now leading to a boom in this demand for personal loans in developing countries.

It is seen that a lot of youngsters in developing countries are borrowing money for investing in their business ideas. This has given them more financial space to think of executing their ideas in a clear manner. Since no collateral is required to get personal loans, it is a suitable lending option for every new borrower looking to invest his money for different purposes.

According to many financial experts, the use of a personal loan can be made for different purposes depending on the need of a borrower. It is making it a popular lending option among borrowers in developing countries. Now, many online lending platforms are available to get bad credit loans to arrange money for any business idea.

Slickcashloan.com is one such online platform that provides personal loans to everyone. And you can visit website if you have bad credit history to get a required sum of lending for meeting various financial targets.

World

Turkish Textile Giant Sun Textile Solution Proposal for Drought

Published

3 months ago

February 4, 2025

Jenny Jackson

While the World Health Organization (WHO) and the United Nations (UN) are seeking solutions to combat drought through various projects, Ekoten Textile, a subsidiary of Turkey’s textile giant Sun Textile, has developed a groundbreaking project in collaboration with a technology startup to minimize the intensive water consumption in the textile industry. This pioneering project, the first of its kind globally, will enable the recycling and reuse of up to 90% of the water used in textile production.

Drought is one of the most pressing issues facing the world today. According to WHO data, 40% of the global population is struggling with water scarcity. By 2030, up to 700 million people could be forced to migrate due to drought. The unconscious use of water in global production processes plays a significant role in the rapid depletion of clean water resources.

The textile industry is one of the sectors with the highest water consumption. In Turkey, while the food industry consumes 22% of the water used for industrial purposes, the textile sector follows closely with 18%. For instance, producing an average of 40 tons of products daily requires 2,500 tons of water, equivalent to the daily water consumption of approximately 10,000 people.

CLEAN WATER RESOURCES FOR HUNDREDS OF THOUSANDS OF PEOPLE EVERY DAY!

In textile production, where clean water resources are heavily consumed, the innovative success of the Turkish company stands out as a global best practice. This initiative will shape the future of the industry. The wastewater recycling project, developed through intensive R&D efforts, will ensure that over 90% of the required water is sourced from recycled supplies.

The reuse of wastewater in production will transform the fate of countries operating in the textile sector. By preventing the use of clean water resources for textile production, this project will free up clean water sources that can meet the daily needs of hundreds of thousands of people.

R&D ACTIVITIES IN 38 COUNTRIES WITH 380 PARTNERS!

Sun Textile places great emphasis on R&D activities, conducting research and development efforts with 380 partners across 38 countries. Sun Textile and its subsidiary Ekoten Textile export nearly 90% of their production, solidifying their identity as a leading exporter. The company ships products to numerous destinations worldwide, including European countries, the UK, and the US. Sun Textile, the leading ready-to-wear exporter in the Aegean Region, achieved a consolidated turnover of 250 million euros in the third quarter of 2024, continuing its active growth trajectory.

OFFERING CUSTOM DESIGNS TO CUSTOMERS

Sun Textile provides its own designed collections to leading brands in Europe and the UK. Ekoten Textile, its subsidiary, is among the most respected knitted fabric manufacturers in Turkey and Europe.

With a dedicated sales team for each major customer group and five design offices in three different countries, Sun Textile creates designs tailored to its customers’ needs. Its largest clients include the Inditex Group, H&M, Jimmy Key, Tesco, Kiabi, Marks & Spencer, and Next.

Sun Textile also extends its sustainability approach to social responsibility, notably for its high ratio of female employees. The company, which went public in 2022, is also listed in dividend indexes.