The government to announce the new national textiles policy in July after the cabinet approval aims at creating 35 million new jobs by attracting foreign investment, Textile secretary S K Panda said on Mondy after inaugurating the 61st National Germent Fair in Mumbai. Minister of State (Independent Charge) for Textiles Santosh Gangwar, who has been working on the long-delayed policy since he assumed office last year, however, did not give an exact time-frame within which the policy could be e

China, the world's largest grower, consumer, and importer of cotton to start selling down cotton from its massive State stockpiles over the next two months. The aim is to release and then buy in, sell out more and buy in less, in order to use up State reserve stocks, the National development and Reform Commission said. China will auction an initial 1 million metric tons of cotton from early July through August of which China will offer at the auction 330,000 tons of domestic cotton from the 2

Pakistan cotton market witnessed improved buying interest in new crop on Tuesday. Mills and spinners showed interest in purchasing new crop due to quality factor which helped to improve the volume of business. According to analyst, Naseem Usman, some of mills were on the sidelines due to rising problems related to textile business such as load shedding. Other dealers said that cotton market saw thin business because of bank holiday. The official spot rate at Karachi Cotton Exchange remaine

China's central bank announced a targeted cut of reserved requirement ratio (RRR) and the year's third reduction of the one-year deposit and lending rates beginning Sunday to consolidate the moderate rebound of economic growth and ensure low financing costs for companies. According to the People's Bank of China (PBOC), it lowered the RRR by half a percentage point of city commercial banks and non-county-level rural commercial banks that have lent a certain portion of their loans to agricultu

Teijin Group's fibre product converting company, Teijin Frontier has developed a new, highly comfortable and functional polyester material that achieves the pile structure of toweling. “The material made from 100 per cent polyester fibre, offers excellent water absorbency, a soft texture and a unique bulky but lightweight feeling,” a Teijin press release said. Teijin Frontier is developing a variety of applications for the new material, focusing on 2016 fall/winter sportswear but also func

The emergent meeting of the general body of the All Pakistan Textile Mills Association has decided to close down the textile industry of Pakistan voluntarily, finding it unfeasible to incur losses due to limited supply of gas and power to the industry. APTMA Chairman SM Tanveer said the member mills have decided on their own to put their operations off voluntarily because of the viability issue. “We do not want confrontation with the government therefore we are closing down mills voluntarily,

A cotton farmer at the Enumamula agricultural market in Warangal.– File photo The Central Bureau of Investigation (CBI) has served notices on the authorities of the Cotton Corporation of India (CCI) to disclose details of procurement from at least half-a-dozen market yards in Karimnagar and Warangal districts during 2004-08. Officials sources in Karimnagar said the CBI issued notices to CCI authorities involved in lifting of stocks from Karimangar, Jammikunta, Gangadhara, Choppadandi and

Recently, the 2014/2015 "China Textile Industry Development Report" has been issued by the China Textile Industry Association. It is learned that the report is a white paper year of China's textile industry development and the textile industry trend. The new white paper consists of: analysis of current status and trend of China textile industry; analysis and outlook, industry research, raw material supply, industry news, industry annual rewards and domestic and foreign annual statistics of 12

A Swiss foundation would tie up with Bangladesh Bank (BB) to help explore the opportunities of collaborating on exploring global green fund for sustainable infrastructure focusing on textile and leather sectors. The Basel-based Global Infrastructure Basel (GIB) Foundation promotes sustainable and resilient infrastructure through sustainable infrastructure design and financing on a global scale. Two senior green economy experts - Hans-Peter Egler and Daniel Wiener from ECOS (ecology, econo

Commerce minister Tofail Ahmed informed the House that the government has targeted to export readymade garments (RMG) to 50 billion USD by 2021. He said that the RMG export of the country has kept continuity amid a lot of obstacles. According to the minister, most of the developed nations, except the USA, are importing Bangladesh RMG products in a duty-free quota. He also urged the finance minister to reduce the proposed source-tax in RMG sector to a tolerable level. However, the com