The dollar advanced against major rivals Monday after US senators squeezed through a tax-cut bill at the weekend. Elsewhere, European stock markets rallied and Asian indices diverged as traders awaited a key Brussels summit on Brexit and digested news that a former aide to Donald Trump had agreed to co-operate with a probe into Russian election interference. Around 1030 GMT, Europe's leading stock markets had managed gains of around one percent from Friday's closing levels. Earlier in A

Italian fashion giant Gucci on Monday said police raided its offices over suspected tax evasion, confirming a report in the Italian press. The Milan public prosecutor suspects the fashion house of declaring several years worth of Italian sales in Switzerland, thereby saving around 1.3 billion euros ($1.5 billion) in domestic tax, La Stampa daily said. The investigation is reportedly based on information from a former senior Gucci employee who has since left the company, which is part of Fr

The Japanese Agency for International Cooperation (JICA) plans to send technicians to Angola for experimental cotton cultivation in the Capanda Agricultural Hub in Malanje province. Field trials with cotton varieties using a drip irrigation system, in collaboration with the Angolan Institute of Agrarian Development, will assess their adaptability and yield. JICA support will bring in irrigation equipment, seeds, fertilizers and cotton pressing machinery, a Portuguese news agency report cited

The equivalent of one garbage truck of textiles is wasted every second, while less than 1 per cent of the clothing is recycled into new clothes, says a report that talks of a new vision for a circular system. If the situation prevails, it is likely that the fashion industry will alone consume a quarter of the world's annual carbon budget by 2050. The vision calls for a new textiles economy in which clothes are designed differently, worn longer, and recycled and reused much more often, accordi

The Italy-Vietnam Textile Technology Center established at the HCMC University of Technology, on November 29 aimed at supporting the training and research in the textile technology aspect. This project will contribute to the development of Vietnam’s textile-garment industry, helping Vietnamese textile-garment enterprises approach technology transfer through technical training and assistance from the HCMC University of Technology and Italian experts. This is an Italian Government-funded projec

Egypt’s cotton exports in the fourth quarter of the agricultural season 2016/2017, from June-August 2017 dropped by 38.4 percent standing at 86,000 qantar (157.7kg), compared with around 140,000 qantar in the same period last year due to decline in the areas of cultivated cotton, as per CAPMAS, state statistics agency. According to CAPMAS, India came as the top country importing Egyptian cotton, with almost 36,000 qantar, representing 41.5 percent of Egypt’s exports in the period between June

The global cooling fabrics market size is expected to be worth US$ 3.24 billion by 2025, according to a new report by Grand View Research. Growing focus on fitness, sports, and leisure activities coupled with increasing health consciousness among the population all around the world is likely to propel market growth. The innumerable benefits offered by cooling garments such as moisture wicking, sweat evaporation, breathability, and ventilation have enhanced their use among the athletes. Key

With rise in global digital textile printing market expected at 18.29 percent CAGR between 2017 and 2021, use of polyester is likely to grow, as printing on synthetic fabrics is a lot cheaper than printing on natural fabrics, according to the report ‘Global Digital Textile Printing Market 2017-2021, by Research and Markets. The digital printing experts have endorsed polyester has most eligible synthetic material. According to Priscilla Wilson, principal director, Exhibit Express, polyester

The export turnover of Vietnamese footwear products hit 11.82 billion USD in the first ten months of 2017, up 13 percent year-on-year. Exports to Indonesia recorded the highest growth, at 53 percent, followed by Singapore (45 percent), Hungary (34 percent), India (33.7 percent) and Poland (33 percent). The Vietnam Leather, Footwear and Handbag Association predicted that the footwear sector’s production will enjoy a growth rate of 5 percent this year compared to last year, while the export

“Myanmar’s garment sector is growing vig­orously, we are seeing 25 percent foreign direct investment (FDI) in the manufacturing sector an­nually, we have seen this three consecutive years now,” Daw Khaing Kha­ing Ngwe, General Sec­retary of the Myanmar Garment Manufacturers Association, said. Since 2013, $1 billion out of $3 billion FDI are flow into Myanmar's manufacturing sector. ‘‘Manufacturing receives around $1 billion FDI; out of that $1 billion, over $200 million FDI