CHINA'S top economic planner warned on Wednesday that challenges remain in investment and trade, and meeting annual growth targets will require "arduous efforts." It is estimated that pressure will still remain in economic development in the second half of 2016, said Xu Shaoshi, chairman of the National Development and Reform Commission, during its ongoing bimonthly session. While delivering a report to the session, Xu expressed confidence that the country could meet major annual targets i

Panic buying was witnessed on the cotton market on Tuesday where prices touched a new seasonal high and crossed Rs7,000. Floor brokers said that there was growing concern about crop size, particularly when new spell of heavy rains entered cotton-growing belts of Sindh and Punjab. The uptrend in the global market was totally against the global trend where cotton prices continued to be under pressure, brokers said. However, market analysts believe that divergent trend in local and world m

With Pakistan’s cotton sowing remaining 25 percent lower this year compared to the last year, its cotton production likely to face a shortage of around 2.5 million cotton bales during current year, said Girdhari Lal of Pakistan Cotton Ginners Association. Girdhari Lal further said that with country’s cotton demand hovers around 14 million bales while the production estimated at a little above 11 million bales. According to their estimates, around 2.5 million bales would need to be imported.

NITI Aayog's proposal to build a mega textile city on the lines of the China Textile City in Keqiao district may be accepted by the Andhra Pradesh government. The textiles city would mainly cater to the export market. The process of identifying land, technology and expertise for building the city has already been initiated by the Central government. Textiles minister Smriti Irani has spoken to Andhra Pradesh chief minister N Chandra Babu Naidu asking the state government to provide land and o

Indian and Bangladesh have undertaken to resolve various impediments in Bangladeshi jute exports to India, which include ongoing anti-dumping investigations undertaken by the government of India. India imports 12 per cent of Bangladesh's jute export of 815,000 tons per annum, with value added yarn accounting for the majority of exports. In a statement after meeting Indian high commissioner Harsh Vardhan Shringla, commerce minister Tofail Ahmed said, “There is high demand for Bangladeshi goods

In its August report, USDA projected world cotton output at 101.6 million bales in 2016/17, down one million bales below the July 2016 forecast, however 4.7 million bales above the 2015/16 season, but still 9 per cent below world use. The rise in 2016/17 output has been mainly attributed to the US, with gains also expected in India, Brazil and Pakistan. The US agriculture agency also said that cotton yield is estimated to spring back and more than offset an area decrease from alternative crop

China, the top importer of cotton yarn from India, has significantly reduced its sourcing in recent past. However, India continues to be the major supplier of cotton yarn for China. China has simultaneously reduced yarn imports from the World over the past one year. In July, India’s cotton yarn exports to China plunged 75% year on year, both in terms of shipment and value. During the month, shipment was just 17 million kgs valued at US$285 million as against 66 million kgs worth US$1,118 million

In spite of the pledge made by leading retailers to introduce substantial change in the working conditions of its millions of garment workers around the world following the Rana Plaza collapse in April, 2013, conditions have yet to improve overall, even in other production countries. H&M has been called out for working with apparel factories in Myanmar which employ workers as young as 14, who labour away for over 12 hours a day, according to the book 'Modeslavar.' The authors of the book

China is planning to add 17 more products from Bangladesh, including items like synthetic fibre, silk waste, short boots and some leather products, to the list of 4,700 products for which it has long been providing duty-free benefits. The duty-free benefit would be provided as part of an effort to deepen trade relations between the two countries. The duty-free access to 17 products was agreed in principle by the Chinese side at the 14th session of the biannual Bangladesh-China Joint Economic

Pakis­tan’s exports of textile and clothing fell nearly four per cent year-on-year to $982.6 million in July, the Pakistan Bureau of Statistics said on Monday. The proceeds stood at $1.02 billion in the same month of the last year. Exports of readymade garments dropped 0.03pc while exports of knitwear fell 5pc during the last month. Last year, exports of readymade garments witnessed a nominal gro­wth despite fall in proceeds from all other products. The decline in exports came d