GHANA GETS THE NOD: Ghana has joined 15 other sub-Saharan African nations eligible for apparel and textile quota and duty breaks. The Office of the U.S. Trade Representative formally extended the duty-and-quota-free trade breaks to Ghana under a trade measure passed in late 2000 by Congress covering sub-Saharan Africa and the Caribbean Basin. The 14 other nations are Mozambique, Cameroon, Tanzania, Kenya, Mauritius, Madagascar, South Africa, Lesotho, Ethiopia, Swaziland, Botswana, Malawi, Uganda, Namibia and Zambia.
DOLING OUT THE DINERO: In yet another move to capitalize on the growth of the Latin American pop culture market, Conde Nast publications has purchased the remaining equity of Ideas Publishing Group (IPG) after buying a majority stake in the company in January 2001. IPG, a Miami based publishing group that prints Spanish editions of Vogue and Glamour among other publications, sells to about five million Spanish-speaking readers each month. Other titles include Men’s Fitness en Espanol, Teen en Espanol, and Architectural Digest en Espanol. Terms of the purchase were not released. Conde Nast is a division of Advance Magazine Publishers Inc., owner of WWD’s parent, Fairchild Publications.
ARIS LATE FILING: Aris Industries Inc. filed a notice with the Securities and Exchange Commission on Wednesday that there will be a delay in the filing of its annual report, or Form 10-K, but that it expects to file the form in 15 days. The former manufacturing company, which is now primarily a licensing firm, also said it expects a narrowing of its loss to $4.1 million for 2001, compared with a loss of $35.5 million in 2000.