Chinese President Xi Jinping (R) meets with Egyptian President Abdel-Fattah al-Sisi in Hangzhou, capital of east China's Zhejiang Province, Sept. 4, 2016. --Xinhua Egyptian economists and businessmen stressed on Sunday that the G20 summit being held in the eastern Chinese city of Hangzhou will help Egypt attract more investments to revive its ailing economy. During a seminar organized by China Today magazine in Cairo, experts discussed the importance of Egypt's participation in the summit

BRITAIN’S economy showed its clearest sign to date of bouncing back from the initial shock of June’s vote to leave the European Union, but a big slowdown in growth and a further Bank of England rate cut remain on the cards. A closely-watched monthly gauge of Britain’s giant services industry published yesterday saw a record leap in activity in August, echoing similar data released last week for the smaller manufacturing and construction sectors. Markit, a data firm, said its survey showed

A scandal involving the alleged sale of falsely labelled Egyptian cotton products by an Indian textile manufacturer to US big box retailers highlights a stiff reality facing the high-end fibre market: there isn't much Egyptian cotton any more. The shortage of cotton from Egypt, which commands a premium due to its superior quality, creates an incentive to blend it with other types of cotton without disclosing it or to counterfeit the label altogether, cotton traders said, exacerbating a proble

India’s ministry of textiles has launched an online portal forhandloomstall allotment. This weaver-friendly platform has been introduced to streamline the process of allotting handloom stalls and to ensure a level playing field for fresh applicants. It is expected to provide transparency, simplify procedures and offer ease of access to handloom weavers. Weavers and organisations can apply onthe online portalas and when online applications are called by way of advertisements in leading newspa

The legislature of California has passed a bill to declare denim as the official fabric of the state. The assembly approved the bill with 59 votes in its favour and 3 against it. According to the bill, the reason behind this proposal is the interwoven history of the fabric and the state. Denim is said to have been a part of California's history since 1850s. This bill was sponsored by Marc Levine, Democrat assembly member from California. Denim jeans were invented during the Gold Rush Era in S

A new International Cotton Advisory Committee (ICAC) report informs that world cotton production is projected to increase 6 per cent year over year to 22.5 million tons in 2015/16. However, ICAC also estimates world ending stocks to have fallen by 13 per cent to 19.5 million tons in 2015/16, as global cotton demand outpaced production. World cotton consumption is forecast to remain stable at 23.8 million tons, with China likely to be the largest consumer in 2016/17, despite an expected decrea

India’s woollen industry is facing distress with decline in exports of woollen yarn, fabirc and made-ups by 48 percent and woollen garments by 9 percent in the first quarter of the current financial year, due to fall in demand for woollen products and prices of raw materials increasing, according to the Wool & Woolen Export Promotion Council. Wool production and consumption in India is largely import-dependent for finer quality wool used in garments and shwals, where Australia and surroun

Pakistani cotton farmers to be provided with environmental training with will cover better crop production practices around issues such as pesticides, water and child labour. The Australian Government, Cotton Australia and the Better Cotton Initiative (BCI) have joined forces to provide this training to 200,000 farmers from Pakistan. Upon completion of training, farmers will be issued will a licence that will enable them to sell fibres as 'Better Cotton' in the global market. Cotton Austra

The G20 Summit under China's presidency amid multiple risks and challenges, aiming to prescribe a therapy that brings the sluggish world economy onto a healthy growth trajectory. The summit will focus on a variety of topics essential to the world economy, including macro-economic policy coordination, innovation-driven growth, more efficient global economic and financial governance, robust trade and investment, inclusive and interconnected development, Chinese President Xi Jinping said when ad

China's plan is contributing to more efficient global economic and financial governance The Belt and Road Initiative, the Silk Road Economic Belt and 21st Century Maritime Silk Road, a new type of international cooperation mechanism launched by China, is contributing to "more efficient global economic and financial governance", one of the key issues being discussed at the G20 Leaders Summit in Hangzhou in East China's Zhejiang province. Chinese President Xi Jinping said at a symposium on