There was mostly a lull on the cotton market as traders awaited the scheduled announcement of the federal budget (2016/2017) on Friday. Thus the pace of business in the ready market was slow on Thursday while only a few lots of cotton changed hands. Not much buying was thus reported. Brokers said in Karachi that Sindh styles were being offered between Rs 4,800 to Rs 5,700 per maund (37.32 Kgs), according to the quality. In the Punjab, lint prices were reported to have ranged from Rs 5,300 to Rs

A report released last week by the United States International Trade Commission (USITC) entitled “TPP Agreement: Likely Impact on the US Economy and on Specific Industry Sectors” stated that the TPP would help Vietnam attract more foreign footwear investors and boost exports to the US, one of the largest footwear markets in the world. USITC chairman Meredith M. Broadbent said that “Already, several major US footwear companies have begun sourcing a significant share of their footwear purchases

India's GDP numbers for quarter January-March stood at 7.9 per cent as against 7.3 per cent in October-December, thereby making it the fastest growing economy in the world, according to a Finance Ministry statement. The government data projected a growth of 7.6 per cent in 2015-16 against the government's more modest expectation of 7-7.5 per cent growth. This despite growth decelerating to 7.3 per cent in the quarter ended December from 7.7 per cent in the previous quarter. According to th

The Egyptian Textile Industries Council and the China National Textile and Apparel Council signed a framework agreement last week to establish a 1.2 million square meter zone for textile industries in the Egyptian governorate of Minya. The move represents an important step towards reinstating Egypt as a leading actor in the textile industry in the Middle East and North Africa, pointing to its wide-ranging expertise in textile production, said Tarek Kabil, Egypt’s Minister of Trade and Industr

DBL Group, a ready-made garment and textile giant of Bangladesh, is stepping up on plans to establish a factory in Ethiopia that will provide around 4,000 jobs and be supported by long-time customer Hennes & Mauritz (H&M). Fast fashion retailer H&M has committed to becoming a long-time buyer and supporting the factory with expert knowledge in sustainable textile production. The Mekele-based integrated knitting, dyeing and garment facility will be solely owned by DBL Group, with Sw

On Tuesday, cotton prices in Pakistan slid amid lackluster trade due to lack of buying interest from spinners and higher imports of cotton, whereas, cotton prices in the world markets moved higher. The spot rate settled at PakRs5,500/maund (37.324 kilogram each), down PakRs50/maund from the previous level. Around 1400 bales of cotton were changed hand in the ready markets of Sindh and Punjab. Floor brokers stated that the market was expected to witness enthusiasm after a government’s decis

Two Germany-based technical textiles companies, Olbo & Mehler Tex (OMT) and Synteen & Luckenhaus (SL), have joined forces to allow business expansion to new markets and markets segments. Both companies are part of KAP group, listed on the Frankfurt Stock Exchange, and both are dedicated to the production of technical textiles, complementing each other. They will join activities and business operations under the leadership of a management team led by the Portuguese Alberto Tavares, lea

Bangladesh’s apparel manufacturers have entered into sustainable manufacturing practices by establishing eco-friendly factories and introducing energy-efficient latest technologies to give a cushion against carbon emission. The issue of sustainable manufacturing came under the spotlight as global consumers are becoming more and more cautious on environment while the global retailers are looking for suppliers of apparel produced in eco-friendly factories. Sustainable manufacturing refers to

Textile manufacturing companies in Ghana may soon be wiped out altogether. And political interference that has scuttled a taskforce commissioned by the government to check the influx of cheap pirated textiles into the country, would largely be responsible for such an eventuality, The Weekend Finder has reported. According to the newspaper, the scuttling of the task force has meant that designs of the local textile manufacturers continue to be pirated and imported into the country, with the fa

The Agriculture Ministry has put up the draft licensing guidelines for Bt cotton technology for comments and suggestions from all stakeholders so that relevant proposals can be incorporated. The notification will remain in the public domain for 90 days. At a press conference in New Delhi on Tuesday, Agriculture Minister Radha Mohan Singh clarified that the Centre's decision to cap the price of Bt cotton seed in March this year at Rs 800 per packet of 450 grams had not been rolled-back.