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  • MEXICO CITY (Reuters) - Mexican stores are packed with shoppers this Christmas, but slashed prices and big promotions mean cash registers are ringing up meager sales, underscoring a fragile recovery from a punishing recession. From Wal-Mart de Mexico, the country's biggest retailer, to informal street vendors, retailers are cutting prices to lure customers -- some hoping to increase market share and others just struggling to stay in business. "The stores may be clogged but what are people
  • Bulgaria's prime minister has announced that Value-Added Tax (VAT), which currently stands at 20%, could be cut to 17% in 2011. Boyko Borisov spoke at the official lunch, organized by the American Chamber of Commerce in Bulgaria, dedicated to the country's plans for accession to the eurozone by 2013 and the efforts that the state is making to achieve this key goal. “Bulgaria's accession to the eurozone will release huge financial resources, which are currently used to guarantee the stabili
  • BANGKOK (TNA) – Thai exports in November grew 17.21 per cent for the first time this year with an export value of US$13.8 billion, Commerce Minister Porntiva Nakasai said on Monday. Increased exports of agricultural and agro-industrial products such as cassava, frozen and processed shrimp and sugar rose 28.6 per cent while exports of industrial goods like electronic appliances, jewellery, cosmetics turned positive to grow 13.2 per cent for the first time this year, Mrs Porntiva said. Expor
  • Leading market research group GfK announced Tuesday that the mood among German consumers would continue to deteriorate at the end of the year. Researchers put a large part of the blame on rising energy prices. Market researchers at GfK said the mood of consumers in Germany worsened for the third month in a row on Tuesday. A combination of rising energy prices and the fear of future job losses has led many consumers to save their money, the Nuremberg-based group said, and postpone purchase
  • The newsroom for writers/broadcasters covering the 2010 Beltwide Cotton Conferences will be in the Preservation Hall, Studio 7-8 on the second floor of the New Orleans Marriott Hotel. Hours are: 10-5 p.m. on Jan. 4; from 8 a.m.-5 p.m. on Jan. 5-6 and from 8 a.m. – noon on Jan. 7. The newsroom operation, which is supported by a Monsanto Company grant to The Cotton Foundation, will be equipped with phones, fax machine, copier and computers/printers, including Internet access. Refreshments will be
  • Following the dwindling demand of man-made fabrics in the domestic market, this segment of textile industry is looking towards a supportive budget for 2010-11. In its pre-budget recommendations to Union textile ministry, the Federation of Indian Art Silk Weaving Industry (FIASWI) has proposed various policy measures for the future of Indian textile industry keeping in mind the statutory and legal framework arising out of India's commitment to World Trade Organisation (WTO). FIASWI chairm
  • Achieving export target of $25 billion appears to be a Herculean task in the perspective of $7.61 billion export performance in the first five months of current fiscal. This was opined by the Chairman Pakistan Textile Exporters Association (PTEA), Khurram Mukhtar and Vice Chairman, Sohail Pasha talking to newsmen here on Tuesday. Exports of the country are declining month on month basis. In July it declined by 20.78 percent, August 5.21 percent, September 14.15 percent and October 8.18 perce
  • Washington - Consumers picked Walmart's holiday campaign as this year's best, displacing Target from the top spot it has held since the annual survey began in 2005. Target landed at No. 2, according to the Retail Advertising and Marketing Association, a division of the National Retail Federation. Other companies in the top 10 included: 3. Best Buy 4. Gap 5. Macy's 6. Old Navy 7. Kmart 8. Sears 9. Hallmark 10. Kohl's Conducted by BigResearch, the survey found 32.8
  • Dr Mirza Ikhtiar Baig, Adviser on Textile to the government, has suggested that one per cent duty drawback should be given to those yarn exporters who also supply in the local market, in his letter to Rana M Farooq Saeed Khan, Federal Minister for Textile Industry. Dr Baig said he had conducted various meetings with textile associations including Javed Bilwani, Chairman of Pakistan Apparel Forum, Anwar Ahmed Tata, Chairman of All Pakistan Textile Mills Association and Bashir Ali Mohammad to
  • The Lenzing Group is to spend ?120m ($176m) in 2010 on expanding cellulose fibre production in Europe and Asia, the Austrian fibre company said on Monday. The main projects would include extending pulp production at Lenzing in Austria, increasing fibre production at Heiligenkreuz in Austria to 60,000 tonnes/year and the remodelling of a site at Grimsby in the UK to enable it to produce special fibres, the company said in a statement. "We are expecting continuing strong demand for Lenzing
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