Trading activity remain moderate due to renewed buying interest at the lower level at the cotton market on Tuesday. However, the availability of quality cotton resulted in some trading activity. Trading on ready counter was fairly moderate as needy spinners went for quality cotton. The following deals were reported to have changed hands on ready counter: 7,000 bales, Alipur, at Rs7,000; 400 bales, Jalalpur, at Rs7,100; 2,487 bales, Rahimyar Khan, at Rs7,300; and 800 bales also, Rahimyar Khan,

Turkey, home to a major textile industry and companies that supply global fashion brands such as Zara, Adidas and Nike, imported USD 519 million worth of US cotton in 2016, according to data from the Turkish Statistical Institute. Turkey is likely to hike duties on imports of American cotton, as retaliation against potential US steel tariffs, said one of President Tayyip Erdogan's economic advisers on Tuesday. US President Donald Trump said that he would impose broad tariffs on imports of ste

Already a major driving force for the world economy, China is poised to make greater contributions with its reaffirmed commitment to economic rebalancing. In a report on government work earlier this week, Chinese Premier Li Keqiang pledged to strengthen the fundamental role of consumption in driving economic growth, open China's market wider and defend free and fair trade. Experts believe these efforts will inject new impetus into China's growth and further boost the global economy. "With

Jute and jute goods hold potential to become the next key driver of the economy as the present ones -- garments and remittance -- have little scope to contribute more in the long run, said an economist yesterday. “Bangladesh needs a new growth driver. In this case jute and jute goods can be the main driver soon,” said Hossain Zillur Rahman. The government has been favouring the garments sector over the years and should similarly give policy support on adding value to jute and jute goods an

Free Trade Agreement between the two countries Turkey and Pakistan is under-negotiation. Trade will jump once FTA is finalized. Pakistan especially Lahore is an investment hub for the Turkish investors. Turkish Ambassador Mustafa Yurdukal said that friendly and cordial relations between Turkey and Pakistan should be translated into trade and economic ties. Ambassador Mustafa Yurkukal speaking at the Lahore Chamber of Commerce & Industry on Wednesday said that the Ambassador agreed with th

The textiles ministry has so far enlisted 21 e-commerce platforms for sale of handloom products, minister of state for textiles, Ajay Tamta said in a written reply to the Rajya Sabha this week. These portals generated sales worth Rs 9.54 crore in the first 9 months of current fiscal. However, there is no government online platform for sale of handloom items. “To promote e-marketing of handloom products, a policy framework was designed under which any willing e-commerce platform with good trac

Gap Inc., a leading global retailer offering clothing, accessories, and personal care products for men, women, and children, has recorded net sales of $4.8 billion for the fourth quarter of fiscal 2017, an 8 per cent increase, with sales of $15.9 billion for full year 2017. The company’s fourth quarter fiscal 2017 comparable sales were up 5 per cent. The company’s operating margin for fiscal 2017 was 9.3 per cent compared with 7.7 per cent last year. The company’s adjusted operating margin fo

Karl Mayer, Germany’s leading textile machine manufacturer, will show market-specific and innovative textile machinery systems for the Turkish market at ITM 2018, the 34th international textile machinery exhibition, which will be held from April 14 to 17, 2018, at the Tüyap Fair Convention and Congress Centre, in Istanbul, Turkey, in hall 7, stand 709. Karl Mayer is specifically targeting producers of home textiles and stylish, functional clothing by exhibiting products for the warp knitting

Real gross domestic product (GDP) of the US increased at an annual rate of 2.3 per cent in 2017, according to the ‘second’ estimate released by the Bureau of Economic Analysis. In 2016, real GDP had increased 1.5 per cent. The GDP estimate is based on more complete source data than were available for the ‘advance’ estimate issued a month earlier. The increase in real GDP in 2017 primarily reflected positive contributions from personal consumption expenditures (PCE), non-residential fixed inve

The government has decided to take legal action against the readymade garment factories inspected under the national initiative that will fail to complete remediation work by April. The labour ministry in a recent meeting to review the progress of Remediation Coronation Cell came to a firm decision that the Department of Inspection for Factories and Establishment would file case against factories, which will fail to complete remediation in time, in May. This would be imminent as the compa