Courtesy: PR Newswire/Silk Inc Silk Inc, a natural chemistry company, founded in 2013 by experts Gregory Altman and Rebecca Lacouture, has closed a $30 million Series B funding round. The funding was led by Silk board member Jeff Vinik, the former manager of Fidelity's Magellan Fund and current owner of the Tampa Bay Lightning. Other investors include the Kraft Group and Roy P Disney. "The investment in Silk is really an investment in the future, one in which we are advancing people's health,

Two major US synthetic yarn producers—Unifi Manufacturing, Inc (Unifi) and Nan Ya Plastics Corporation, America (Nan Ya)—have filed petitions alleging that dumped and subsidised imports of polyester textured yarn from China and India are causing material injury to the domestic industry. The petitions have been filed with the US department of commerce. “The purpose of these petitions is to establish conditions of fair competition in the US market. The petitioning domestic producers are askin

Courtesy: Pexels The World Textile Information Network (WTiN) has announced the finalists of Future Textile Awards. The awards celebrate innovation in all areas of technical textiles as well as the essential partnership between R&D and commercial teams on which the industry’s progress depends. Winners will be chosen both for their originality and for their real-world impact. This will be the fourth edition of the Future Textile Awards. The awards are sponsored by leading high-tech indust

India’s goods exports fell by 2.15 per cent year-on-year to $27.95 billion in September after a positive run between April and August. The decline is hoped to be temporary, owing to a high-base effect. Imports saw a rise of 10.45 per cent to $41.9 billion during the month, bringing down the trade deficit to $13.98 billion, according to commerce ministry data. In the first six months of the current fiscal, exports posted a growth of 12.5 per cent in dollar terms. Imports grew 16.1 per cent, a

Over 6.044 million bales of cotton have arrived in 2018-19 season at various ginneries in Pakistan, as on October 15, 2018, up 1 per cent over arrival of 5.984 million bales during the corresponding period of last season, according to the latest fortnightly report on cotton arrivals, released by Pakistan Cotton Ginners’ Association (PCGA). In the major cotton producing province of Punjab, total cotton arrivals increased by 3 per cent year-on-year to 3.123 million bales, according to the report

Nearly 1,200 garment factories in Bangladesh shut shop in the last four years due to lack of compliance and being left behind in the competitive environment, according Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Siddiqur Rahman, who expects some more factories to close soon as those are unable to make profits. Garment products from the country have been losing competitiveness due to longer lead time, poor productivity and poor global demand, Bangladesh media

The Indian commerce ministry is reportedly working on a new export incentive scheme for merchandise shipments compliant with the World Trade Organisation (WTO) to replace the merchandise exports from India scheme (MEIS), under which exporters of goods avail of incentives and duty benefits depending on product and country. It could be named ‘rebate of levies’. The step assumes significance as the United States has complained to the WTO against India over export subsidies, claiming these incen

India’s goods exports fell by 2.15 per cent year-on-year to $27.95 billion in September after a positive run between April and August. The decline is hoped to be temporary, owing to a high-base effect. Imports saw a rise of 10.45 per cent to $41.9 billion during the month, bringing down the trade deficit to $13.98 billion, according to commerce ministry data. In the first six months of the current fiscal, exports posted a growth of 12.5 per cent in dollar terms. Imports grew 16.1 per cent, a

Cameroon’s national cotton development company Sodecoton will announce the final results of its transgenic cotton trials by this year end. Started in a controlled environment in 2012 and in the open in 2015, the trials will soon conclude. In 2015, Sodecoton had launched public consultations in the far north to seek producers’ views on transgenic cotton. Sodecoton targets 260,000 tonnes of cotton in 2018 and plans to raise this ten-fold in the coming years through the introduction of transgen

Egyptian minister for the public enterprise sector Hisham Tawfiq recently announced that a comprehensive development plan for state-run spinning and weaving companies is being formulated that will be implemented over three years. The plan includes development of the cotton spinning companies through weaving, dyeing and processing, he said. Tawfiq said this while visiting the Misr Spinning & Weaving Company in al-Mahalla al-Kubra City under state-run Holding Company for Cotton, Spinning,