As buyers and sellers stayed away, dull and dreary conditions prevailed on the cotton market on Tuesday. Overall, the undertone was firm but the outlook uncertain as the market was directionless due to diminishing stocks and shortage of quality lint. According to market reports, no transactions were reported on the ready counter. At the Karachi Cotton Association (KCA) did not change the spot rates, currently pegged at Rs7,400 per maund. High cotton prices are reportedly discouraging sm

China's economy kicked off 2018 on a strong note with better-than-expected data for the first two months. Industrial output expanded at 7.2 percent year-on-year in the first two months, accelerating from 6.2 percent growth in December 2017, the National Bureau of Statistics (NBS) said in a statement. The growth was faster than the 6.3 percent growth during the same period last year, and was well above analyst expectations. Retail sales of consumer goods grew 9.7 percent year-on-year, fa

For fiscal 2017, Lenzing Group, a supplier of global textile and nonwovens industry with high-quality, botanic cellulose fibres, has recorded revenue growth of 5.9 per cent to €2.26 billion. The company has recorded high revenue and earnings due to a better product mix and higher selling prices in combination with a generally favourable market environment. The company EBITDA improved by 17.3 per cent to €502.5 million (2016: €428.3 million). The corresponding EBITDA margin rose to 22.2 per ce

Vietnamese garment-textile sector inspite of huge challenges in the global market are eyeing eyeing for a growth of 10 percent in 2018. The sector earned 4.3 billion USD from exports in the first two months this year, up 22.3 percent year on year. To realize the target, the sector plans to improve product quality and ensure on-schedule deliveries at reasonable prices to enhance its competitiveness, said Le Tien Truong, Director General of the Vietnam National Textile Garment Group. The use

A total of 13 Italian textile machinery manufacturers will be presenting at the Indo Intertex trade fair, in Djakarta, Indonesia, from 4-7 April, in the common exhibition area set up by the Italian Trade Agency and ACIMIT, the Association of Italian Textile Machinery Manufacturers. The textiles industry is a major driving force for Indonesia’s national economy. In recent years, the local government has thus supported a widespread modernisation programme of existing technology, allowing for i

Looming global trade war may affect Bangladesh’s economy and trade particularly exports as the US administration under president Donald Trump is planning to impose additional tariffs on apparel imports. After imposing tariffs on imports of a number of products from different countries, the world’s biggest economy is now planning to impose tariffs on up to $60 billion of Chinese imports targeting apparels, footwear, and technology and telecommunication sectors, according to a Reuters report.

China's industrial output expanded at 7.2 percent year on year in the first two months, accelerating from 6.2 percent growth in December 2017, official data showed Wednesday. The growth was faster than the 6.3 percent growth during the same period last year, the National Bureau of Statistics (NBS) said in a statement. Industrial structure continued to improve, with production in high-tech industries and the equipment manufacturing sector expanding by 11.9 percent and 8.4 percent, respectiv

Union Textiles Minister Smriti Irani at the inauguaration of Textile Sector Buyer-Seller meet and launch of Power Tex portal and mobile app in Bengaluru. It will help provide information about various schemes and incentives of the textile ministry. On this occassion, the textile ministry has assured a Rs. 100 crore Textile Park for Karnataka and asked the State Government to provide land for the textile park. The announcement of Textile park by the textile minister was welcomed by the textile

India’s apparel production has shown a decline of 10.4 per cent for the ten-month period Apr-Jan 2017-18 due to the consistent decline since May 2017, as per the latest IIP figures. Apparel Export Promotion Council (AEPC) has indicated earlier about the gradual decline in the production on account of the issues that arose after the implementation of GST. IIP figures show that there has been a month to month decline in apparel productivity. From a positive growth of 1.3 per cent in April 2017,

Apparel firm Macy’s is set to bring MADE IN GREEN by Oeko-Tex traceable labels to selected private brand textile products in its home collection like private brand sheets and towels. The MADE IN GREEN label ensures products were made in environmentally friendly, socially responsible, and safe facilities and were tested for harmful substances. The products will be available in Macy’s stores across the US and on Macys.com. The MADE IN GREEN by Oeko-Tex label is traceable, meaning that Macy