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  • Cotton futures dropped in New York on speculation that textile makers and spinning mills will balk at the highest price in 10 months. Cotton climbed 26 percent this year through yesterday as declines in global production outpaced slowing demand. Today the price tumbled as much as 6.9 percent from yesterday’s high. “Futures went beyond physical demand,” Andy Ryan, a risk- management consultant for broker FCStone Group Inc., said by telephone from Nashville, Tennessee. “We’re now pulling b
  • LOCAL MP Michael Moore has underlined the urgency of the need for the Government to intervene and support the Scottish textiles industry in a meeting with the UK textiles Minister, Ian Lucas MP. Along with the Chairman of the Scottish Cashmere Club, Ken Pasternak, Mr Moore impressed upon the Minister the need to secure Government backing for trade export insurance, increased bank lending to manufacturers, and to establish a broader package of support for the industry along the lines currently
  • The smaller units are applying both strategic and tactical shifts to fight the slowdown. The micro, small and medium enterprise (MSME) textile cluster in Ludhiana, Punjab, has rewritten some of its practices to adjust to the global recession according to the findings of a study commissioned by the International Labour Organisation (ILO). The study was conducted in June by the Federation of Indian Micro, Small and Medium Enterprises (FISME) in association with Market Insight Consultants. Th
  • HANOI, July 15 (Xinhua) -- The Vietnam's Garment and Textile Association said that the country is making efforts to boost garment and textile exports up by 6 percent in the second half of the year, the local newspaper Vietnam Economic Times reported Wednesday. Vietnam suffered a 4.7 percent decrease year-on-year in export turnover of garment and textile in the first half year to 4.14 billion U.S. dollars, said the association. The decrease was due to shrinking demand from the country's
  • The Apparel Group proudly announces the opening of their flagship store for Aeropostale at IBN Battuta Mall, the world's hottest shopping destination. This is their second Aeropostale store in Dubai. The first store was launched in Oasis Centre on Sheikh Zayed Road. Mr. Govind Bharwani, President, The Apparel Group says: 'It's always nice to have as many options as one can have to shop from and we are offering our consumers the best with Aeropostale.' Seeing the need of being up-to-da
  • KARACHI (July 13 2009): Federal Board of Revenue (FBR) is planning to deduct income tax on the facility of Research and Development (R&D) for the textile sector. Sources told Business Recorder on Saturday that the board was considering deduction of income tax on Rs4 billion allocated for the development of the sector in 2008-09. "Despite spending the amount in the last fiscal year, it had not been utilised for the purpose, which raised several questions," they said. They said the board wa
  • One of Mozambique's largest textile factories Texlom in the southern city of Matola has resumed operations after being paralyzed for several years, according to local media AIM on Monday. After an investment of about 2.5 million U.S. dollars by the new owners, the Aga Khan Foundation, the factory, now renamed Moztex, is currently operating on an experimental basis. The factory now employs 260 workers, mostly young girls, but plans to employ about 700 people when it starts full operations
  • GlobalTextiles.com 26th May: In morning the Outstanding Contribute Award for Chinese E-Commerce 10-year's Development of the 12th China International E-Commerce Conference is held.General Manager: Mr.Jianjun Ding from China Textile City Network Co., Ltd. Is awarded the Outstanding Contribute Award for Chinese E-Commerce 10-year's Development. It is supreme honor in the filed of E-Commerce. Aaward guest gives General Manager:Mr. Jianjun Ding The certificate of " the Outstanding Contribute
  • ROME – [07.01.09] The official launch of the International Year of Natural Fibres 2009 (IYNF) will take place later this month at the UN Food and Agriculture Organization (FAO) headquarters in Rome as the organisers also appeal for further funding in a bid to ensure the success of the IYNF, writes Lucy Doherty. Global events for the textile industry will include a Natural Fibres exhibition and symposium in China, the Combined New Zealand and Australia conference of The Textile Institute, Inter
  • Staggering from Hong Kong's decades- long industrial downturn, labor leaders capitulated Tuesday to demands by manufacturers to import low-wage textile workers from the mainland. In return, employers agreed for the first time to impose minimum wages in specific cases. The Labour Advisory Board, a 12- strong policy unit composed equally of employer and employee representatives, agreed to a government proposal to import up to 5,000 mainland textile and garment workers on a minimum wage of HK$2
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