Cotton production has increased 10.6 per cent year-on-year to 10.634 million bales this season, Pakistan Cotton Ginners Association (PCGA) said on Friday. During the outgoing fortnight (Jan 15 to Feb 1), however, cotton output fell 28pc to 98,785 bales. Cotton analyst Naseem Usman believed the growth of 10.6pc was not enough and it only represented a short recovery. The previous PCGA report (for the fortnight ending Jan 15) reported the growth at 11.2pc. Due to short crop, spinners ar

The world economy is set to maintain a solid level of growth in 2017, but the deficit will continue to be a problem, according to the ESADE 2017 Economy Report published on Thursday by the business school and Banco Sabadell. The report, which also looks at the possible effects of Brexit and the election of Donald Trump as US president, predicts higher growth in developing nations, which can expect to see their economies expand by an average of 4.5 percent. India is expected to see a 7-pe

Finance Minister Arun Jaitley on Wednesday announced plans to launch a scheme for the labour intensive leather and footwear sector -- similar to the existing one for textiles -- to boost its growth and creation of jobs. The scheme will be on the lines of the package announced for the textiles sector in June 2016. "A special scheme for creating employment in the textiles sector has already been launched. A similar scheme will be implemented for the leather and footwear sector," Jaitley said

Pakistan’s textile and clothing exports grew only 0.02 per cent to $1.035 billion in December year-on-year driven by value-added products, the Pakistan Bureau of Statistics (PBS) said on Friday. Export proceeds from the value-added products recorded growth for three consecutive months. The rise in export proceeds is also evident in rupee terms. Last year, the government annou­nced a textile policy that gives a 4pc rebate on the exports of readymade garments on a 10pc incremental increa

The National Assembly’s Standing Committee on the Textile Industry was informed on Tuesday that a large number of textile units have either shut down or relocated to regional countries due to a high cost of utilities. Representatives of the value-added textile sector informed committee members about a number of factors that have put the country’s exports at risk. The members expressed surprise that the K-Electric CEO failed to show up at the meeting being held at Pakistan Hosiery Manufac

Phan Cao Thang, Permanent Vice Chairman of Binh Dinh People’s Committee, has authorised a plan to develop the province’s textile industry till 2025 with orientations to 2035. The key objectives of the plan are to build Binh Dinh’s textile industry into a key economic driver and one of the province’s chief high-quality export suppliers, to slowly synchronise production from input to output and to implement a global standard environment management system. Binh Dinh aims to become the central

In the past 5 years, China's economy has maintained vigorous growth, playing as an active and constructive role in the world. This list shows a set of data which specify China's contribution to the global economy: Global growth, still made in China From 2011 to 2015, China's economic growth has contributed over 25 percent to the global economy. China became the most important engine of the world economic growth, providing a main driving force for global economic recovery. "A few numbers

The Australian Government, Cotton Australia and the Better Cotton Initiative (BCI) have together launched a partnership to support the training of approximately 225,000 cotton farmers in Pakistan, commencing with the 2017 season. The partnership has been established to support Pakistan’s ability to compete in premium international cotton markets. Pakistani farmers will be trained in techniques for growing cotton with a focus on improved environmental, social and economic benefits, in line wi

The European apparel and textile confederation, Euratex, has highlighted the need for European Commission to tackle trade barriers in China and to address sector-specific topics, such as the overcapacities in the man-made fibres and yarns production. Euratex has reiterated that China does not meet the five criteria required to qualify as a market economy. Euratex has welcomed the reflection process carried out by the European Commission over the last months to address the needs of the Europea

In the process of modest trading activity on cotton market on Saturday Cotton prices remain firm. A kind of cautious business was seen on the market as both buyers and sellers preferred to be on the sidelines in the process of trading activity. The official spot rate also was unchanged at Rs 6375, dealers said. In Sindh, seed cotton prices were at Rs 3000-3300, while in Punjab, the phutti rates stayed put at Rs 3200 and Rs 3550, as per 40 kg. Cotton analyst, Naseem Usman observed that some