The weaving industry, the second largest employer in the district, has welcomed the announcement of concessional interest on loans to weavers and the extension of Technology Upgradation Fund (TUF) scheme in the budget for 2013-14. A six per cent concessional interest rate was announced for the loans for handloom weavers. It was also proposed that the TUF scheme would continue in the 12th Plan period with an investment target of Rs. 1,51,000 crore. The major focus would be on modernisation of

One of the key impediments, witnessed over the years about Bangladesh's export market structure, is the excessive dependence on a few target markets for major export products. This is a feature characterising the fate of its number-one export product, readymade garments (RMG). This has been so, ever since the emergence of this sector as the mainstay of the country's export earnings. It is true, though, that global consumption of garments is dependent on two predominantly major markets - the Euro

China's top trade union organization will prioritize setting up unions in all overseas-funded businesses that have been operating in the country for more than five years, particularly the world's four-biggest audit firms, which have a strong presence in China. Of the roughly 200,000 foreign-funded corporations in China, 91.4 percent had union representative by the end of 2012, said Wang Ying, a deputy chief overseeing grassroots labor organizations in the All-China Federation of Trade Unions.

March Madness may be right around the corner, but January and February weren't exactly calm for North American buyers of polypropylene resin. Regional PP prices jumped another 6 cents per pound in February, right on the heels of a 15-cent hike in January. The increase means that prices in the region are up about 22 percent since Jan. 1, according to the Plastics News resin pricing chart. That percentage is based on general-purpose grades of homopolymer PP used in injection molding. Availabil

The crisis-ridden domestic textiles and apparel sector got a much-needed fiscal bailout in the budget with the government providing a host of sops to trigger a revival in the labour-intensive sectors that create jobs. Finance minister P Chidambaram on Thursday proposed Rs. 2,400 crore to modernise the powerloom segment under the technology upgradation fund scheme (TUFS) while the outlay for setting up textile parks was enhanced to Rs. 300 crore including Rs. 50 crore for five new apparel parks.

Paradise Fibers to offer two new lines of yarn from Cascade Yarns. The two new lines are Cherub Aran and Heritage 150 yarn. Cherub Aran is the thicker version of the popular Cascade Cherub DK already in the store. The Heritage 150 is the big sister of the Cascade Heritage Sock Yarn which has also turned some heads this last year with some great new colors and knitting patterns. Free Knitting Patterns are available for all of these yarns on the Paradise Fibers website and will be printed and

The government has set the cotton production target at 14.1 million bales for next season 2013-14, which is 5.75% more than the current year’s anticipated output. For this season, the government had originally set the target at 14.6 million bales (each of 170 kg), but later revised it to 13.3 million bales following damage to crops caused by floods. The Federal Committee on Cotton, which met on Wednesday in the Ministry of Textile Industry under the chairmanship of Textile Secretary Dr Waqar

Annie's Wicker, an online retailer of outdoor all-weather resin wicker furniture and cushions, introduced select Sunbrella fabrics to its fabric choices for seating cushions and pillows. With over 300 fabric choices for indoor and outdoor furniture replacement cushions and their wicker furniture cushions, Annie’s Wicker is responding to customer demand by adding select Sunbrella Olefin and Dupione fabrics with plans to add more Sunbrella fabrics in the future. Sunbrella brand fabrics are the

Oil prices eased in Asia today as revised fourth-quarter US economic growth disappointed, while dealers eyed huge federal spending cuts due to take effect, analysts said. New York’s main contract, light sweet crude for delivery in April, shed 45 cents to $91.60 a barrel and Brent North Sea crude for April delivery slid 43 cents to $110.95. “Oil suffered from the lower-than-expected US fourth-quarter GDP,” said Jason Hughes, head of premium client management for IG Markets Singapore. Data o

Country`s silk exporters Thursday expressed concern at Finance Minister P.Chidambaram's proposal to increase duty on imported raw silk, fearing that it would further hit exports of silk fabrics as they heavily rely on cheap and high-quality imported raw silk from China. In order to give a measure of protection to domestic sericulture, Chidambaram in his budget speech proposed to increase the duty on raw silk from 5 percent to 15 percent. "It could help a little bit domestic raw silk producers