Turkish textile group Taypa will invest €35 million ($41.2 million) to construct a factory in Kraljevo, central Serbia. The investment will be made over a period of 5 years, according to the memorandum of understanding signed by Taypa president Mesut Toprak and Serbian economy minister Goran Knezevic on the sidelines of an event in Belgrade. The new factory is expected to create employment opportunity for 2,500 Serbians, as per Serbian media reports. Earlier in July this year, Serbian Pres

Heimtextil 2018, world's leading trade fair for home and contract textiles, will focus on textile solutions for architects and interior designers. Beginning from January 9, the fair will expand its exhibition space for furnishing and upholstery fabrics. The international trade exhibition holds a leading position in the textiles industry. The four-day trade fair will present upholstery and decorative fabrics in five hall levels (3.0, 3.1, 4.0, 4.1 and 4.2). The enormous collection of furnishin

The Belt and Road Initiative mirrors the profound transformation of a China that has become more active on the global stage, an Italian scholar told Xinhua in a recent interview. China has played an increasingly important role as a global player when Chinese President Xi Jinping sought for a more assertive and engaged foreign policy, said Francesco Mancini, associate dean and visiting associate professor at Lee Kuan Yew School of Public Policy in Singapore. Mancini said the Belt and Road

Global cotton stocks outside of China are expected to rise by nearly 12 million bales to a record 53 million bales in 2017-18 season, predicts the US department of agriculture (USDA). Despite a relatively strong forecast of 3.8 per cent increase in global cotton use, a 15 percent expansion in production will outpace demand, increasing global stocks. “China’s cotton import policy remains a major wildcard. Despite market rumours of possible increased import access, there has been no official in

The textiles industry in the United Kingdom is all set for a boost with £9 million investment. JR Group UK, global leader in the production of textile fibres, is moving its Halifax nonwovens business, Texfelt, to Bradford in UK. The business that will be shifted to state-of-the-art facility in Cutler Heights will focus on producing recycled textile items. With the set up of business in UK, it is expected that it will generate 46 new jobs in a period of 5 years. A major portion of the project

Kenya recently set up a national task force to oversee the commercialisation of transgenic cotton in the next five years. According to cabinet secretary for agriculture, livestock and fisheries Willy Bett, Kenyan farmers will start cultivating Bt (Bacillus thuringiensis) cotton in 2019 once the task force establishes structures to support that endeavour. Controlled field trials of Bt cotton have been conducted since 2002 at Kenya Agricultural, Livestock Research Organization (KALRO)'s resear

Domestic textile majors in Kerala State are making a beeline for the traditional Khadi and handloom production hubs with lucrative offers for outright procurement of their products, while the State government is gearing up to execute a textile modernization plan. Key players were coaxing the Khadi and handloom production units in Kannur and Thrissur, to begin with, to sell their products at competitive prices and also seeking an assurance that they would consistently meet the demand for a fix

The government has taken an initiative to allocate 500 acres of land to the country’s readymade garment exporters for setting up an ‘RMG Block’ in the Mirsarai Special Economic Zone of Chittagong. The Bangladesh Garment Manufacturers and Exporters Association on Saturday asked its members to inform the trade body within seven days about their interest in buying industrial plots in the SEZ. In a circular, BGMEA president Md Siddiqur Rahman said that the trade body started talks with the Ban

China will deepen economic and financial reforms and further open its markets to foreign investors as it looks to move from high-speed to high-quality growth, President Xi Jinping said on Wednesday. China will push ahead with market-oriented reforms of its foreign exchange rate as well as its financial system, and let the market play a decisive role in the allocation of resources, Xi said at the opening of a key, twice-a-decade Communist Party Congress. “China's open door will not be closed,

Apparel manufacturers have urged the government to ensure stable prices of power and gas to help boost their businesses along with long-term policy support to remain competitive in the global market. At a roundtable at a Dhaka hotel on Wednesday, the participants discussed the readymade garments sector’s (RMG) present situation and possible moves to improve while some of them also called for efficient functioning of all of the country’s ports. Bangladesh Garment Manufacturers and Exporters