Saurer Group, a globally operating group focusing on machinery and components for yarn processing, has registered an increase in its revenue in both segments—Spinning Solutions and Technologies—during the first half (H1) of 2018. Its revenue was up by 14 per cent to reach RMB 4,627 million, while its net profit rose 29.1 per cent y-o-y to RMB 409.8 million. However, earnings per share have dropped by 16.2 per cent due to the additionally issued shares for last year’s listing on the Shanghai S

The Federation of Gujarat Weavers’ Association (FOGWA) has petitioned Indian minister of state for road transport and shipping Mansukh Mandaviya urging him to ask the Gujarat state government to formulate a textile policy on the lines of the Maharashtra state Government state to stop power loom weavers from Surat migrating to neighbouring Maharashtra. About 250 power loom units have moved to Navapur in Maharashtra due to the proactive textile policy of the state. The units have been set up

The National Stock Exchange of India Limited (NSE) recently signed an agreement with the West Bengal state’s micro, small and medium enterprises (MSME) and textiles department for supporting and facilitating alternate sources of funding through equity among MSMEs. The aim is to get 100 SMEs from West Bengal listed on the NSE Emerge platform by 2020. The department has taken the initiative to engage the NSE with all industry associations and chamber bodies, so that a large number of SMEs in

Texbase, a cloud-based data management platform for textiles, has announced that customers can now integrate both lab test data and lab test reports created by third-party labs into their Texbase accounts. Texbase provides testing and material innovation software solutions that power great product experiences for apparel and consumer products industries. Now for the first time, independent testing labs such as Bureau Veritas, are able to integrate directly with Texbase to transfer field-le

Washington DC-based National Retail Federation (NRF), the world’s largest retail trade association, has urged the Office of the US Trade Representative (USTR) to reject tariffs on $200 billion of Chinese goods. It has released a new study that found tariffs on furniture and travel goods from China would cost American consumers nearly $6 billion a year. “By now the administration should know something it questioned several months ago: Tariffs will not get China to change its unfair trade pract

Workers in the clothing industry across South Africa will receive a 7.5 per cent wage increase, effective September 1, 2018. Workers in the non-metro areas will receive an additional 0.5 per cent in the form of greater employer contribution to the provident fund. This will benefit just over 60,000 clothing workers, employed in 745 factories nation-wide. The agreement was reached under the auspices of the National Bargaining Council for the Clothing Manufacturing Industry of South Africa. Empl

British international trade secretary Liam Fox recently unveiled an export strategy to make the United Kingdom a 21st century exporting superpower through better use of overseas network, new online tools and building an extensive business-to-business network. The aim is to raise total exports as a proportion of gross domestic product (GDP) to 35 per cent. This comes as the government continues to roll out sector deals as part of the industrial strategy, boosting jobs and growth in areas wh

Vietnam’s department of trade defence under the ministry of industry and trade will start sharing monthly export data to the Eurasian Economic Union (EAEU), consisting of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, to help local businesses avoid most favoured nation (MFN) tariffs. Vietnamese exports to the EAEU include apparel and footwear. Under a free trade agreement (FTA) signed between Vietnam and the EAEU in May 2015, the EAEU committed to eliminating tariffs for up to 9,774

Consumers in the UK are shunning man-made materials in favour of natural fibres, says a recent report. Of those who said they would avoid buying certain materials, 28 per cent refuse to buy polyester, 17 per cent avoid synthetic acrylics, and 2 per cent avoid rayon and viscose. Notably, Brits are optimistic about their current financial situation. UK consumers feel positive about the cash in their pocket in 2018, with almost half of people (45 per cent) saying they feel optimistic about th

Champion Athleticwear is continuing to expand its retail footprint with a second US retail specialty store opening in New York City, US. Since 1919, Champion Athleticwear, a brand of Hanesbrands, has offered a full line of innovative athletic apparel for men and women including activewear, sweats, tees, sports bras, team uniforms, and accessories. At the store’s grand opening on August 25, 2018, the first 500 customers to shop will receive a limited-edition canvas tote bag with exclusive a