In the first five months of 2014, the textile and garment sector maintained stable export growth compared with the same period last year and continued to stand among the top sectors in terms of the export value, the Vietnam Economic News reported. According to the data released from the Ministry of Industry and Trade, in the first five months of 2014, the export value of the textile and garment sector reached 7.44 billion USD, a rise of 17 percent compared with the same period last year. In t

Representatives of national industry called a press conference at Mongol News press agency about a huge investment in the textile industry, namely the establishment of a partnership contract. The agreement calls for an annual three million EUR in Mongolian exports. As of today, a total of 450 textile factories are operating in Mongolia. Before soft loans from the Chinggis Bond for equipment and facilities were granted to textile factories, the Mongolian textile industry had been operating wit

The Lahore Chamber of Commerce and Industry (LCCI) has sought investment from Turkish businessmen in the country’s textile sector. During a meeting with a seven-member Turkish business delegation at the LCCI office, LCCI president Sohail Lashari said the textiles sector has traditionally been the biggest sector of Pakistan’s economy. Studies and surveys confirm that the textile sector’s contribution in total exports are almost 60 percent and it engages almost 38 percent of manufacturing l

The Ministry of Textiles, Government of India, is inviting proposals from Industry Associations/Groups of Entrepreneurs /Special Purpose Vehicles (SPVs) for setting up of Integrated Textile Parks (ITPs) under the Scheme for Integrated Textiles Park (SITP) during the remaining part of the 12th Five Year Plan (April 2012 – March 2017). For the ITPs, Government funding will be 40 percent of the project cost with a ceiling of Rs. 40 crores. For special category states, the funding will be 90 perc

A file photo shows a grower washing jute fibres at a village in Munshiganj. Bangladesh Bank on Monday said the jute sector entrepreneurs would get loans at the interest rate of 9 per cent from a central bank’s refinance fund of Tk 200 crore. — New Age photo Bangladesh Bank on Monday said the jute sector entrepreneurs would get loans at the interest rate of 9 per cent from a central bank’s refinance fund of Tk 200 crore. The BB on the day issued a circular to managing directors and chief ex

A fire broke out in a private jute mill at Dattapara suburb of the district town on Tuesday, which gutted huge quantity of raw jute, jute products and factory tools. Fire Service officials said the fire erupted at a room of the Natore Jute Mills in the BISIC industrial area at about 11:45 am and the blaze soon engulfed the entire factory. On information, four fire fighting units rushed to the spot and are working to douse the blaze. The cause of the fire could not be immediately kno

Chinese President Xi Jinping met with Bangladeshi Prime Minister Sheikh Hasina Wajed here on Tuesday and both pledged to make joint efforts to build an economic corridor linking Bangladesh, China, India and Myanmar. "Bangladesh is an important country along the Maritime Silk Road," Xi said during the meeting, noting that China welcomes the Bangladeshi side's participation in the construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, while pushing ahead with the e

Two pairs of 3,300-year-old trousers found in China’s far western Xinjiang region may be the world’s oldest, state-media reported Friday. Archeologists in May found animal-fur menswear on the bodies of two mummies, identified as male shamans in their 40s, the state-run China Daily cited scientists as saying. An international team is working together to repair and preserve the two pairs – which are the oldest yet discovered with a clear resemblance to modern trousers, the report said. “T

A Middle East-based textile company is going to set up an integrated garment factory at a cost of US$ 80 million in Mekelle town, the capital of Tigray region in Ethiopia, reports Addis Fortune. The company, Velocity Apparel Plc, which has factories in Egypt, Jordan and the United Arab Emirates, has already secured 100 hectares of land in Mekelle, about 780 km north of Addis Ababa. It has also received a loan from the Development Bank of Ethiopia for establishment of the garment manufacturing

The government on Sunday increased the cash incentive for export of readymade garments to 5.25 per cent from the existing 5 per cent. To this end, Bangladesh Bank issued a circular authorizing dealer branches of all scheduled banks saying that the new directive would be effective for the shipment of export items of the RMG sector between January 1, 2014 and June 30, 2015. The RMG exporters will get 3 per cent cash incentive from the existing 2 per cent if they exported new products abroa