Textile factory owners want to import high-speed furnace oil with exemption of all duties and taxes to run their captive power generation units which they say are suffering from a severe shortage of gas supplies. Bangladesh Textile Mills Association in a letter last month sought government approval for allowing them to import the fuel oil. In the letter, they have complained that they are not getting adequate gas supplies while the price was raised by more than 222 per cent in the past tw

The last collection of fashion legend Azzedine Alaia will be shown in Paris next year, his couture house said Monday. The Tunisian-born designer, known as the King of Cling for the way his clothes hugged the body, died suddenly in November, reportedly of heart failure after falling down the stairs at his home in Paris. Since then rumours have swirled about the future of his label. But the couture house said in a statement Monday that it would continue, saying it would show the last ready-to-w

The International Islamic Trade Financing Corporation (ITFC), a member of the Islamic Development Bank (IDB) group, has signed a syndicated agreement of €100 million with the government of Cameroon and the Société de développement du coton (Sodecoton) as the executing agency for the export of cotton and the import of various agricultural inputs. The agreement was signed by Louis Paul Motaze, minister of economy, planning and regional development, and IDB Group governor for Cameroon, which too

Cotton prices increased in Brazil’s domestic market in the first fortnight of December 2017, as both purchasers and sellers retracted from the market, similar to the activity observed in December last year. Between November 30 and December 15, the CEPEA/ESALQ cotton Index rose a staggering 6 per cent, closing at 2.5945 BRL ($0.7848) per pound on December 15. “Only a few processors and traders were active in the spot market, searching for batches for quick delivery – these agents were flexible

The American Sheep Industry Association cooperates with the U.S. Department of Agriculture’s Foreign Agricultural Service program. The FAS program’s has been vital in the expansion of American wool exports to other countries. With this matching fund program, ASI is allocated approximately $1 million each year and it has been key to bringing foreign wool companies to the United States, as well, as other promotional programs to export American wool, said ASI Wool Marketing Director Rita Samuelson.

Exports of cotton yarn to China saw the biggest fall in both volume and value terms as China, the largest importer of yarn reducing its purchases. As per the data with the Union Commerce Ministy, cotton yarn shipments to China plunged 31.9% to 105.9 million kgs (mkgs) between April and September. It dropped 36.7% year-on-year (y-o-y) in value terms to $285 million. Cotton yarn exports have advanced by a mere 1.1% y-o-y in value terms to around $1.5 billion during the time frame. Incidentally,

After the government's announcement on increasing basic customs duty (BCD) on imported MMF fabrics from 10 percent to 25 percent in October, the largest man-made fabric (MMF) hub of India, Surat is still awaiting central government’s official notification in this connection. According to Industry leaders, import of fabrics, especially from China, has increased sharply post-GST at almost 30 percent while Surat's power loom weavers who manufacture 4 crore metre of fabrics per day, have been red

Vietnam textile and garment sector has faced multiple challenges early this year, but the situation has changed for the better since the second quarter of this year. Of the total export revenue of this year estimated at US$31 billion, textiles and garments contribute an estimated US$25.91 billion, fabrics US$1.07 billion and cotton US$3.51 billion. At a press conference in HCMC on December 11, Giang said that the sector has gained strong export growth this year, at 10.23% versus 2016, and the

China has maintained strong economic growth, which is projected to reach 6.8 percent this year, supported by rising household incomes and improving external demand, the World Bank said in its latest economic update report released on Tuesday. In April and October, the bank's forecast of China's GDP growth this year was 6.5 percent and 6.7 percent, respectively. The country's GDP growth averaged at 6.9 percent in the first three quarters, stronger than market expectations and higher than it

As the government is all set to withdraw sales tax and customs duty on import of cotton on the demand of spinning industry, setting aside the interest of growers and ginners, the Pakistan Readymade Garments Manufacturers & Exporters Association has appealed the authorities to also relax duties on yarn import to encourage value addition, reduce cost of doing business and bridge the gap between production and consumption. PRGMEA Chief Coordinator, Ijaz Khokhar asked the Textile Division to