(IVL), a Thailand-based global chemical producer, reported 3 per cent revenue decline to $2,942 million during the first quarter (Q1) FY20 ended on ended on March 31, 2020 compared to revenue of $3,030 million in same period last year. Company reported core EBITDA remained stagnant during the quarter at $304 million.Pic: Indorama Ventures Limited“IVL’s Core EBITDA grew in all three segments (Integrated Oxides and Derivatives, Combined PET and Fibres) and in all regions as our products primarily

Mizuno Corporation, a Japanese sportswear company, reported 4.7 per cent revenues decline to ¥169.7 billion in fiscal 2019 ended on March 31, 2020 compared to ¥178.1 billion in previous fiscal year. Net income during the year were down 23 per cent to ¥4.6 billion (FY18: ¥6.0 billion). Operating profit fell 17.8 per cent to ¥6.3 billion (¥7.6 billion).Pic: Mizuno CorporationOrdinary profit during the year were ¥6.1 billion (¥7.7 billion). Selling, general & administrative expenses were ¥62.8

India recently extended the validity of scrips, or certificates provided under export incentive schemes, which are expiring between March 1 and June 30 this year, till September 30, thesaid in a public notice.Pic: ShutterstockTheprovides tax incentives for goods and services under theand Services Exports from India Scheme (SEIS).Depending on the nature of services and product, the government gives duty credit scrips or certificates to exporters. These scrips can be transferred or used for paymen

The Swedish retail giant, H&M, has donated around US $ 500,000 to various organisations that are fighting against racism including NAACP, ACLU and Color of Change.Image Courtesy: tech.economictimes.indiatimes.comThe recent killing of George Floyd in Minnesota has sparked protests all around the world including Paris and London. The current protests have resulted in many arrests which may require money to seek bail.Donating to such organisations has helped solidify H&M’s position as a glo

LUBBOCK - Textile Exchange has released its second annual report on progress towards its 2025 Sustainable Cotton Challenge which aims to spur a shift in the market towards the use of more sustainable cotton.The 2025 Sustainable Cotton Challenge aims to encourage brands and retailers to commit to source 100 per cent of their cotton from the most sustainable sources by the year 2025.This second annual progress report reveals that 27.5 per cent of signatories have already achieved their target of 1

in April last week were 35 per cent lower than the same week in 2019, but that is half of what it was at the lowest point during the pandemic, according to The NPD Group, which recently noted shifts in apparel purchase behaviour across categories and wearer segments since the pandemic started, pointing to key changes in consumer buying phases.“Apparel was a low priority early in thewhen consumers were focused on things like groceries and other in-home necessities, but we’re seeing evidence that

Considerably increasing the investment and sales turnover thresholds for MSMEs will significantly benefit various segments of textile value chain, Thehas said. It has also welcomed the increase inof cotton as it would benefit cotton farmers and sustain the area under cotton cultivation.The government has focused on farmers and MSMEs under its, a slew of financial relief measures to enable the country to tide over the unprecedented economic crisis being posed due to the COVID-19 pandemic. Subsequ

Eastman Staples, a garment and textiles supplier, has provided vital equipment to manufacture Personal Protective Equipment (PPE) for the healthcare industry after receiving a £300,000 loan from HSBC UK through Coronavirus Business Interruption Loan Scheme (CBILS). Company traditionally supplies sewing machines, fabric and textile tools to garment industry.However, with demand for PPE across the UK surging, the company was inundated with requests from the NHS, its suppliers and factories searchi

Thehas welcomed the decisions of the Union Cabinet, chaired by Prime Minister Narendra Modi, which will providefarmers, street vendors and agricultural sector. Since they are the backbone of the Indian economy, support to them will result in growth of the overall economy.Pic: ShutterstockMSMEs, which have 29 per cent share in the country's GDP and 48 per cent share in the country's exports and provide employment to millions of people, will receive maximum benefits from the change in theu

More than 75 per cent of Chinese consumers reduced or postponed purchases on apparel and footwear and their total spending decreased by 45 per cent in the first quarter of 2020, according to a latest survey by New York-based global management consulting firm Oliver Wyman, which found there was little retaliatory spending in April and May. The largest apparel market is expected to see a 15 per cent contraction in 2020, equivalent to about $60 billion in market value.On the bright side, the survey