The National Board of Revenue of Bangladesh has reduced source tax on export proceeds, for all sectors including readymade garment, to 0.25 per cent from 1 per cent. The move follows demand by exporters for the tax slash to make the country's exports competitive in the international market. The reduced tax rate will remain effective up to June 30, 2020.Owing to demands from garment makers, the Bangladesh tax authority had reduced advance or source tax on export earnings of garment twice last

The Nordic Day was celebrated in Dhaka by Denmark, Norway, and Sweden on Monday, 21 October. The reception hosted at the Nordic Club, welcomed around 400 guests from the Nordic community, representatives from the Government of Bangladesh, and friends of the community from the private sector, civil society organizations, media and other diplomatic missions, says a recent press release.Figure: (From left) Swedish Ambassador Charlotta Schlyter, Norwegian Ambassador Sidsel Bleken, Danish Ambassador

With the increasing call for sustainability in the global fashion industry, H&M and IKEA announced to collaborate on a large-scale study reviewing chemical content in post-consumer textile recycling.The collaboration is needed as companies with strict standards about chemicals in their products are cautious about using recycled material they cannot control.At the Textile Exchange Sustainability Conference 2019 gathers companies and organizations from more than 25 countries and provides the p

Finding new markets and applications is vital for the global cotton sectorWith the commencement of harvest in the High Plains of Texas, stakeholders of this important sector gathered today at Lubbock-based Plains Cotton Growers, Inc. (PCG).Figure: The global cotton supply is above the demand, which emphasizes the need to create new opportunities.The yield may not be a bumper as expected due to the hot July and August months in the High Plains of Texas. Hot summer days are affecting the yield par

Interfiliere New York will see 65 top international mills presenting a view of the sourcing market for intimate apparel, swimwear, and athleisure industries. The show to be held during October 16-17 connects intimate apparel brands with a curated selection of the most innovative mills, accessory suppliers and sourcing companies from around the world.Pic: EurovetReturning in its fourth year, Concepts Paris will showcase a Creative Trend Lab focusing on materials, colours and prototype displays. T

MSA Manufacturing (MSA), based in Wimborne, Dorset, will present its vast CNC cutting, slitting, 2D preforming and sequenced kitting capabilities for a wide range of glass and carbon fabrics, both dry reinforcements and prepregs, along with 3 and 5 axis CNC machining and kitting of cores for manufacturing composite parts at the Advanced Engineering Show.Pic: MSA ManufacturingAdvanced Engineering 2019 will be held during October 30 - 31, 2019 in Birmingham.MSA also waterjet cuts and kits metal, h

President Donald Trump yesterday attended the ribbon-cutting ceremony of a new $50-million leather workshop opened by French luxury label Louis Vuitton in Texas’ Johnson county. Trump, joined by daughter Ivanka and her husband Jared Kushner, toured the plant in Alvarado and spoke with workers. The facility employs 150 with an annual payroll of $26 million.Pic: Louis VuittonLVMH Moet Hennessy Louis Vuitton chairman Bernard Arnault was one of many top executives invited by Trump to the White House

Restriction on the quantity of import under HS55092100 to 2,000 tonnes per month through import licenses and mandatory European Union (EU) Flower and Oekotex certificates for all import shipments under HS55092100 are part of the restrictions suggested by the Northern India Textile Mills’ Association (NITMA) to be imposed on competitors like China, Vietnam and Bangladesh.Pic: ShutterstockHS code 55092100 refers to single yarn containing more than or equal to 85 per cent polyester staple fibres by

India’s Central Board of Indirect Taxes and Customs (CBIC) recently launched a revamped and streamlined programme to attract investments and strengthen the ‘Make in India’ programme through manufacturing and other operations under the bond scheme of the Customs Act, 1962. Section 65 of act allows manufacturing and other operations in a customs bonded warehouse.The scheme has been modernised with clear and transparent procedures, simplified compliance requirements, modern documentation and accoun

Stoll founded in 1873 is a German flat knitting machinery manufacturer. It exports to more than 50 countries all over the world and offers integrated services through affiliated companies, sales and marketing centers and numerous agencies. Stoll has launched a new trend collection Materialization and a knitelligence production process.The collection deals with overcoming of material resistance – the biggest obstacle in the creation and manufacture of textiles. Stoll found its inspiration for the