State-owned Bangladesh Petroleum Corporation (BPC) has floated a tender to sell 170,000 barrels of open-specification naphtha for lifting between May 27 and May 29, a company official said on Sunday. The tender will close on May 14, with validity up to May 20 for loading on a free-on-board (FOB) basis from Chittagong. The offer came when the Asian naphtha price and its margin hit on Friday its highest in a month due to refinery run cuts and stronger Southeast Asian demand. BPC, which runs the

Chinese apparel sector entrepreneurs yesterday expressed interest to invest in Bangladesh as they found many factories here adequately compliant. They expressed the interest at a time when the industry is facing criticisms from developed countries like the European Union, USA and Canada following the tragic incidents of Tazrin Fashion and Rana Plaza. A 21-member delegation of China National Garment Association (CNGA) visited nine factories in Bangladesh in last two days as they shared their f

Garment units in Gurgaon, which were flourishing in the past, are in deep trouble now and most of them are even planning to shift from the Millennium City. Being a labour-intensive industry, the garment units here employ more than two lakh people. Here mostly cheap labourers are required. We train them on cutting and stitching clothes and then employ them in the industry. But owing to development of IT, automobile and BP industies in Gurgoan, real estate has started booming and land has become

The textile industry, especially fibre makers are bullish about achieving the target under the National Fibre Policy. With an impetus from the central government's TUF scheme and as part of the upcoming National Fibre Policy, the textile industry is estimated to investment roughly Rs 1.8 lakh crore for the ten year period of FY '10 - FY '20. According to industry players, the investments will look to create required capacity along the textile value chain on the basis of estimate of the increas

Bangladesh garment workers will get higher wages after the government made known its plans to raise the minimum wage for them. The news comes in light of a factory building collapse, which killed more than 1,100 people. The building collapse brought attention yet again to Bangladesh’s textile industry and it’s poor pay, combined with hazardous working conditions. Textiles Minister Abdul Latif Siddiky added on Sunday that a new minimum wage board will issue a recommendation for pay raises in th

Sri Lanka has invited to invest in textile plants in Uganda an exporter of cotton, where the companies from the island are already building mini hydro plants, during a state visit by President Mahinda Rajapaksa. Talks with Uganda's President Yoweri Museveni had focused on agriculture, energy and trade, Sri Lanka's president office said in a statement. He had requested Sri Lanka help to built Uganda's textile sector, where only 5.0 percent of the country's cotton production was used domestical

Discussions about the first global cotton futures contract have hit a roadblock in setting a new benchmark that could replace the existing century-old agreement on ICE Futures US, traders said. Months after formal discussions began, traders are hung up on a key detail necessary to draft a new global contract: Whether to allow delivery of cotton against futures contracts in countries that produce it or those that use it. Expanding the contract to accept fiber grown outside the United States f

India's apparel industry is likely to grow at about 8 per cent annually and reach Rs 2,74,600 crore over the next three years, credit rating agency Care Research said today. "The domestic apparel industry will grow at a CAGR of about 8 per cent from Rs 2,02,600 crore in FY12 to Rs 2,74,600 crore in FY16. Policy reforms, revival in economy and entry of new brands to support recovery of apparel demand in FY14," Care Research said in a report here today. The industry grew at a CAGR of 10 per cen

Zhonghao textile project, which costs a total investment of HK$ 150 million, has entered into machinery installation and commissioning period and has recruited employees for certain posts. Located in the export processing zone in Jiujiang, Jiangxi Province, the project is designed for producing color-spun yarn with a capacity of 100,000 spindles in the first phase, which is expected to earn US$ 100 million by export; the second-phase project will be built at proper time and will install 40,000

Top 10 Categories in Rising Top 10 Categories in Falling 1. Nylon fabric 1.43% 1. Belt -2.45% 2. Fashion fabric 1.37% 2. Cotton farbic -2.01% 3. Fashion Lining 1.31% 3. Lining -1.36% 4. Polyester fabric 1.18% 4. Other chemical fiber -0.77% 5. Polyester/wool fabric 1.05% 5.Bedding -0.64% 6. Nylon/cotton fabric 0.35% 6. Polyester/cotton fabric -0.51% 7. Lace 0.35% 7. Viscose/wool fabric -0.49%