Zimbabwe has plugged loopholes in the utilisation of the clothing manufacturers’ rebate (CMR) after some players were found to have abused the facility over the past six years, resulting in the state losing millions of dollars in tax revenue. Malpractices include the disposal of fabrics intended for value addition in the domestic market and transfer pricing.Finance and economic development minister Mthuli Ncube said although the facility had assisted manufacturers to reduce production costs, the

NEW DELHI: The government on Tuesday said(FDI) in India's chemical sector is "meagre" at only 9 per cent of the total inflow in the country in spite of conducive policy and asked the industry players to introspect the reasons for the same.Addressing a CII organised event, Chemicals and Fertiliser Minister D V Sadananda Gowda asked the industry to suggest if policy interventions are required to boost growth of the sector which has the potential to reach from the current USD 163 bill

Bangladesh commerce minister Tipu Munshi has requested Brazil to reduce the 35 per centduty to easeof readymade garments (RMG) and other items to its market. If Brazil lowers the duty, consumers there can buy reasonable-priced quality Bangladeshi RMG, he said during a meeting with the leaders of São Paulo Chamber of Commerce recently.He was on a visit to MERCOSUR, the southern common market comprising Brazil, Argentina, Paraguay and Uruguay, according to a ministry press release.Munshi also soug

Following a renewed period of emphasis on improving sustainability, Egyptianproduction and exports are at their highest for five years, with season 2018-2019 registering an increase of 45 per cent in exports, the Cotton Egypt Association (CEA) has said. The significant advancements are due to implementation of 'The Egyptian Cotton Project'.Pic: ShutterstockCEA has been supporting the implementation of The Egyptian Cotton Project activities that englobe an innovative training, education a

Sports company Puma is part of a coalition of 32 companies to launch global Fashion Pact to protect world's climate, biodiversity and oceans, which was presented ahead of the G7 meeting in Biarritz. The Fashion Pact commits to develop an action plan to make the industry carbon neutral by 2050 in order to avoid disastrous consequences of a changing climate.Pic: PumaThe pact also aims to set science-based targets to restore natural ecosystems and protect wildlife. In addition, the Fashion Pact

The Netherlands-based civil society organisation Solidaridad Network and Stockholm-based QuizRR have joined hands with H&M, Esprit and KappAhl to improve working conditions and productivity in the supply chain of the Chinese textiles-garment sector. The project, launched on July 25 in Shanghai, is being funded by the ASN Bank based in The Hague.Pic: SolidaridadThis partnership aims to contribute to ensuring decent labour conditions and fostering the progress towards achieving sustainable dev

Intertextile Shanghai Home Textiles, which is celebrating 25 years as Asia’s leadingfair for the interior textiles industry, is all set to open on August 28. The four-day mega show will have around 1,150 exhibitors from 27 countries and regions who will display their latest products and technologies for the home and contract textiles sectors.The 2018 edition had welcomed 39,730 trade buyers from 104 countries and regions.“We are very optimistic about the business opportunities that will present

RYU, creator of urban athletic apparel, has appointed Camilo Lyon to the Board of Directors of the company, effective immediately. Lyon brings over two decades of corporate finance and consumerexperience to RYU, primarily as an equity research analyst in the US focusing on global athletic and fashion lifestyle brands at top investment banks.Most recently, he served as managing director and head of consumer research at Canaccord Genuity for eight years. During that time, he advised institutional

Denim apparel export from India to USA is picking up in 2019!During the first 6-month period of 2019, India exported denim apparels worth US $ 20.43 million to USA, marking an impressive 54.50 per cent growth.However, what is notable is that the country still occupies14thspot in denim apparel exporters tally to USA and countries such as Sri Lanka, Colombia, Jordan, Lesotho and Nicaragua are ahead of India.According to OTEXA, the total import done by USA in denim segment was valued at US $ 1.74 b

Bangladesh's exports in the first month of the current 2019-20 fiscal year ending next June surged 8.55 percent to nearly 4 billion U.S. dollars, an official said Tuesday.The Export Promotion Bureau (EPB) official told that export performance for July was 3.88 billion U.S. dollars.Of the total earnings, he said the country's income from ready-made garment items, including knitwear and woven, stood at 3.31 billion U.S. dollars.The EPB data showed knitwear garment export grew 9.89 percent