Trading on the cotton market remained fairly moderate on Wednesday where spinners chased lint to meet their near-future demand. Floor brokers said that the prices were stable due to sustained buying while power load-shedding has forced some spinning mill owners in Punjab to reduce the operation of their mills to one shift. They said the local textile industry was under pressure due to the import of a huge quantity of fabrics from Vietnam and was seeking anti-dumping duty. Phutti prices

Cotton planting in India, the world’s biggest producer, is likely to fall to the lowest in seven years in the 2016/2017 marketing season as farmers switch to other crops, potentially cutting production and exports of the fibre. A pest attack in key cotton growing states and forecasts of good monsoon rains are also prompting farmers to plant other crops such as sugarcane, peanut and pulses. Lower cotton shipments from India could support global prices, now trading near their strongest level

Active trading on the cotton market helped prices to remain steady on Tuesday while the picking of new crop started in Punjab as well. Floor brokers said prices could increase in the future due to a rise in demand. Moreover, the price of old stock cotton was also increasing on the back of renewed interest. They said that demand will rapidly rise after full supply of electricity will be available to the textile industry after Eidul Fitr. At present, the industry is facing 10 to 12 hours pow

In what is shaping up as a turf war, the power loom sector in South India has sought further reduction in the number of products reserved for handloom textile items. The number has already been reduced from 21 items to 11. Arguing that there are more products that require intricate skills and the demand for which cannot be met by the handloom sector, Chairman of Powerloom Development and Export Promotion Council (PDEXCIL) M Duraisamy said restriction must be lifted from those items too. Th

China's economy held steady, as industrial production gathered pace in May, retail sales maintained strong growth while investment cooled with improved structure, according to data released by National Bureau of Statistics (NBS) on Monday. On a month-on-month basis, industrial output was up 0.45 per cent in May, according to the NBS data, the official Xinhua news agency reported. Value-added industrial output, one of the leading indicators for economic growth, rose 6 per cent year on year

Lean business activity was seen on the cotton market on Saturday as a result of less buying interest by mills, dealers said. The official spot rate was unchanged at Rs 5,500, dealers said. In Sindh, seed-cotton prices were at Rs 2900-3050, per 40 kg, they said. In ready session, nearly 200 bales of cotton purchased by the Trading Corporation of Pakistan (TCP) at Rs 5885, they said.Market sources said that a kind of dullness persisted on the cotton market for a long time owing to directionless bu

Five Export Sectors' Associations in Multan have demanded of the Government to issue a notification regarding zero-rated regime for export-oriented textile industry. This demand came from Syed Muhammad Aasim Shah Chairman APBUMA, Khawaja Muhammad Ilyas (APTMA) Nawab Shehzad Ali Khan Chairman of PCGA, Ex-Presidents of MCCI Shahid Nasim Khokhar, Khawaja Muhammad Yousaf, Atta Shafi Tanvir Senior Vice President of MCCI, Khaliq Qandeel Ansari of All Pakistan Power Looms Association, Zulfikar Nasuh

The two-day meeting of India-Bangladesh Joint Working Group (JWG) on trade led by Munir Chowdhury, joint secretary of the Bangladesh commerce ministry, and his Indian counterpart Bhupendra Bhalla and their delegations ended yesterday afternoon with both sides agreeing to set up six new border haats along borders with the northeastern Indian states of Meghalaya and Tripura but turned down Dhaka’s pleas for lifting countervailing duty on import of readymade garments. The two countries agreed to

America's South Carolina state has amended a law on revitalizing or reviving sick textile units by enhancing financial incentives available in the South Carolina Textiles Communities Revitalization Act. The “taxpayer-friendly” amendment, cleared on May 23, seeks to remove a 50 percent cap applicable to the income tax credit provided by the Act. The amendment enhances the value of the credit by accelerating the time period for claiming the credit and applies to credits claimed for income tax y

Adidas and Parley for the Oceans have announced the release of a limited number of the iconic running shoe on the occasion of World Oceans Day made from Parley Ocean Plastic, which is collected in coastal areas in the Maldives. The shoe has been created with Adidas’ most innovative production method: Adidas Tailored Fibre Technology, a revolutionary manufacturing technique that enables unique footwear designs to betailored to the individual needs of any athlete. “This is an inspiring partn