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State Bank of Pakistan (SBP) Governor Arshad Wathra on Tuesday reiterated the government’s resolve to revive the textile industry and pledged unequivocal support for all the stakeholders.
While addressing the Senate Standing Committee meeting on Textile Industry held here at SBP office, he asked the representatives of the banking sector to play their due role in rehabilitating the textile industry by extending loans to the exporters.
He further said that it was a moral responsibility of th
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State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra said on Tuesday the central bank will extend all kinds of support to the stakeholders of the textile industry.
He said this at a meeting of the Senate Standing Committee on Textiles that took place at the SBP headquarters to discuss the problems faced by the textile industry and seek proposals for its sustainability.
Besides members of the committee, representatives of major banks of the country also attended the meeting, accord
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World cotton production in 2016-17 is projected to rise by 8 per cent to 22.8 million tons, which may put pressure on cotton prices in the latter half of the ongoing 2016-17 season. World ending stocks may fall by 7 per cent to 18 million tons in 2016-17, though stocks outside of China are expected to grow by 6 per cent to 8.7 million tons.
The current season started with a large shrinkage in stocks, particularly from countries in the Southern Hemisphere, which saw ending stocks in 2015-16 f
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THE yuan weakened again yesterday against the US dollar while the market responded calmly to new rules on tighter inspection of Chinese residents’ purchase and transfer of foreign exchange.
The yuan closed at 6.9557 against the greenback in the onshore market in Shanghai on the first trading day of the new year, down 0.13 percent from last Friday’s.
The weakening followed the lower guidance rate the People’s Bank of China set at 6.9498 per US dollar yesterday, down from 6.9370 it set last
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India is projected to produce nearly 345 lakh bales of cotton in the crop year 2016-17 owing to better weather conditions, according to the Cotton Association of India (CAI). The country’s cotton production touched four crore bales during 2013-14, and fell to 386 lakh bales and 338 lakh bales in crop years 2014-15 and 2015-16, respectively.
Improvements in productivity during the current crop year are expected due to favourable weather conditions in the cotton growing regions of India, said
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Cotton growers of New Mexico in the US will learn new techniques in cotton production at the New Mexico Cotton Growers Association Conference. It is an opportunity for cotton farmers to enhance knowledge on production practices and also improve their connections for easy business. The event will be held on January 11 at Ruidoso Convention Centre, New Mexico.
This year’s conference will also focus on various important aspects including cotton nutrition and fertilisation, disease management, co
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By quoting export figures from the Pakistani textile industry, All Pakistan Textile Mills Association (APTMA) chairman Aamir Fayyaz informed that textile exports continued to remain gloomy for the 2016 calendar year. He said exports from the sector dipped by a further $600 million this year, primarily due to the high cost of doing business.
According to Fayyaz, as per the current trend, overall Pakistani exports are also forecast to decline $1.2 billion, due to which an impetus is required fr
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China's GDP growth is expected to fall solidly in the target range of 6.5 percent to 7 percent as both official and private data point to a stabilizing economy.
China's manufacturing sector continues to expand, with the purchasing managers'index (PMI) hitting a 47-month high in December, a private survey showed Tuesday.
The Caixin factory PMI, based on surveys of small and medium enterprises, came in at 51.9 in December, up from 50.9 in November, according to the survey by financial info
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Textile companies have started adopting water saving technologies as Bangladesh is one of the highest water consuming countries for washing and dyeing fabrics.
Garment factories use more than 250 litres of water for washing and dyeing one kilogram of fabrics while the global best practice is 70 litres.
Bangladesh's textile mills consume 1,500 billion litres of groundwater a year for washing and dyeing fabrics, according to a report -- Bangladesh-The Netherlands: 50 years of water cooperati
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In its latest report, credit rating investment agency ICRA is projecting that weak export demand and higher cotton prices will hurt profitability of Indian cotton spinners. ICRA has forecast this trend, as Indian cotton prices are 17 per cent higher from a season ago period, although this is just the beginning of the Indian cotton season.
“Normally cotton prices soften at the beginning of the season, but prices have firmed following slower cotton arrivals, due to demonetisation and also due t