China's central bank announced a targeted cut of reserved requirement ratio (RRR) and the year's third reduction of the one-year deposit and lending rates beginning Sunday to consolidate the moderate rebound of economic growth and ensure low financing costs for companies. According to the People's Bank of China (PBOC), it lowered the RRR by half a percentage point of city commercial banks and non-county-level rural commercial banks that have lent a certain portion of their loans to agricultu

Teijin Group's fibre product converting company, Teijin Frontier has developed a new, highly comfortable and functional polyester material that achieves the pile structure of toweling. “The material made from 100 per cent polyester fibre, offers excellent water absorbency, a soft texture and a unique bulky but lightweight feeling,” a Teijin press release said. Teijin Frontier is developing a variety of applications for the new material, focusing on 2016 fall/winter sportswear but also func

The emergent meeting of the general body of the All Pakistan Textile Mills Association has decided to close down the textile industry of Pakistan voluntarily, finding it unfeasible to incur losses due to limited supply of gas and power to the industry. APTMA Chairman SM Tanveer said the member mills have decided on their own to put their operations off voluntarily because of the viability issue. “We do not want confrontation with the government therefore we are closing down mills voluntarily,

A cotton farmer at the Enumamula agricultural market in Warangal.– File photo The Central Bureau of Investigation (CBI) has served notices on the authorities of the Cotton Corporation of India (CCI) to disclose details of procurement from at least half-a-dozen market yards in Karimnagar and Warangal districts during 2004-08. Officials sources in Karimnagar said the CBI issued notices to CCI authorities involved in lifting of stocks from Karimangar, Jammikunta, Gangadhara, Choppadandi and

Recently, the 2014/2015 "China Textile Industry Development Report" has been issued by the China Textile Industry Association. It is learned that the report is a white paper year of China's textile industry development and the textile industry trend. The new white paper consists of: analysis of current status and trend of China textile industry; analysis and outlook, industry research, raw material supply, industry news, industry annual rewards and domestic and foreign annual statistics of 12

A Swiss foundation would tie up with Bangladesh Bank (BB) to help explore the opportunities of collaborating on exploring global green fund for sustainable infrastructure focusing on textile and leather sectors. The Basel-based Global Infrastructure Basel (GIB) Foundation promotes sustainable and resilient infrastructure through sustainable infrastructure design and financing on a global scale. Two senior green economy experts - Hans-Peter Egler and Daniel Wiener from ECOS (ecology, econo

Commerce minister Tofail Ahmed informed the House that the government has targeted to export readymade garments (RMG) to 50 billion USD by 2021. He said that the RMG export of the country has kept continuity amid a lot of obstacles. According to the minister, most of the developed nations, except the USA, are importing Bangladesh RMG products in a duty-free quota. He also urged the finance minister to reduce the proposed source-tax in RMG sector to a tolerable level. However, the com

The government reduced the volume of source tax in readymade garments (RMG) sector from proposed one percent to 0.6 percent in the national budget of 2015-16 fiscal year. At the same time, the value added tax (VAT) in higher education in private sector was also reduced from proposed 10 percent to 7 percent. Finance minister AMA Muhith on Monday informed the House in his concluding speech on the proposed national budget. He also said the proposed source tax on Unani medicines and duty on

A customer examines leather shoes made by the Vina Shoes Corporation at a store in HCM City. Viet Nam has become the largest footwear exporter to Brazil with a turnover of $335.66 million last year. — VNA/VNS Photo Thanh Phan Viet Nam has become the largest footwear exporter to Brazil, accounting for 52.8 per cent of that country's market share. Viet Nam exported US$335.66 million worth of footwear to Brazil last year, the industry and trade's ministry's Industrial and Trade Information

Viet Nam is trying best effort to be a part of the global production chain, contributing into the world's production. — Photo vosco.gov.vn The apparel production scale in Asia will expand 2.4 per cent by 2030, accounting for over 60 per cent of global outputs. This was announced by chairman of Viet Nam Cotton and Spinning Association (VCOSA) Nguyen Van Tuan at a conference in Ha Noi on Thursday. At Viet Nam Textile Summit 2015, Tuan said, several free trade agreements such as the trad