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  • Cotton prices, which increased throughout November, are likely to witness a 10% downward correction in short term, largely because of arrival of new crop, analysts feel. Economic recovery boosted the demand for yarn and spinning mills have entered the cotton market for building up inventory, pushing up prices. Overseas demand for Indian cotton is also on the rise as the US, Brazil and Europe has had a bad crop. Production in China is also down with a fall in cotton acreage. Most of the countri
  • The federal government has turned down the proposal of value-added textile sector for imposing ban, or regulatory duty, on export of cotton yarn. Sources in the Ministry of Textile told that despite strong and continuous protest by the value-added textile sector, the federal government has decided not to impose a ban or regulatory duty on export of cotton yarn. They said that Ministry officials have clearly conveyed this message to the representatives of value-added textile sector that the g
  • A global surge in cotton prices has hiked local yarn prices, threatening the recovery of the recession-hit knitwear sector. Local yarn prices increased 30 percent in the last two months, making it harder for knitwear makers to ship export orders at the previously fixed rates. The domestic prices of 30-count yarn surged to around $3.50 from around $2.75 per kg two months ago, they said. "Yarn price has witnessed a rising trend over two months, but it went out of bounds just 15 days ago," sa
  • Ministry of Industry and Information Technology of PRC (MIIT) released a document, namely Advices Regarding to the Structural Adjustment for Textile Machinery Industry, recently in an effort to support the development of domestic textile machinery industry. According to the advices, related departments will provide supports for granted machinery makers in issuing company bonds, short-term financing and going to public etc. The document sets a detailed target for the industry in 2009-2011: ma
  • The Cabinet Committee on Textiles, after reviewing present cotton and yarn situation and taking into account export trends and local availability, has decided that the Trade Development Authority of Pakistan (TDAP) should monitor all exports of yarn through a system of registration of export contracts. In pursuance of the cabinet committee's decision, Chief Executive of TDAP, Syed Mohibullah Shah, held a series of meetings with various stakeholders including representatives of downstream ind
  • Textiles Minister Dayanidhi Maran today asked the domestic apparel industry to target exporting $25 billion worth garments by 2012, up from $22 billion recorded in the last financial year. "The apparel export industry provides employment to 2.5 million workers directly and three million indirectly, earns foreign exchange of Rs 50,000 crore annually and the need of the hour is to raise the level of exports to $25 billion by the year 2012," Maran said. With the system in place to propel such
  • HONG KONG, -- ANTA Sports Products Limited kicked off the "Hong Kong 2009 East Asian Games Chinese Sports Delegation Sportswear Show" in Hong Kong. The event's theme was "Support China Altogether". During the event, Chinese Olympic Committee ("COC") Secretary General, Mr. Song Luzeng, joined ANTA Sports management in offering their best wishes to athletes from Mainland China and Hong Kong in their performance in the upcoming East Asian Games ("EAG"). ANTA-designed official sportswear to be worn
  • Recently, data from National Bureau of Statistics show that National Manufacturing Purchasing Managers Index (PMI) was 55.2 percent in November 2009, unchanged from the previous month. The index has been at the critical point - more than 50 percent for nine consecutive months, indicating that manufacturing economy, as a whole remains stable and an upward trend. Production index was 59.4 percent, edged up by 0.1 percentage points from the previous month, continuing at or above the critical po
  • The value of Hong Kong's total retail sales in October rose to 22.8 billion HK dollars, up 9.8 percent over the same month last year, statistical authority said on Tuesday. However, total retail sales in the first 10 months of the year dropped 2.2 percent in value, or 3.1 percent in volume compared with the same period last year, according to statistics released by the Census Statistics Department of Hong Kong Special Administrative Region (HKSAR) government. After netting out the effe
  • Sy Syms, the discount clothing retailer whose signature pitch -- "An educated consumer is our best customer" -- has endured for 35 years, died yesterday of heart failure, his company said. He was 83. Syms, born Seymour Merinsky in Brooklyn, began his apparel business in 1959 in the Financial District -- in competition with a clothing store run by his father and brother around the corner. By 1983, he'd expanded to 11 sites and taken the company public. It eventually grew to 30 stores in 1
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