Due to its ability to provide raw materials, the Middle-East will emerge as a vital hub for ethylene production by 2020, a top Bahrain minister said. Minister in Charge of Oil and Gas Affairs, Shaikh Ahmed bin Mohammed Al Khalifa was speaking at the Middle East Ethylene Conference held in Manama.The minister spoke about the contribution of the region to the global petrochemical industry and which has helped GCC to clock a turnover of $100 billion from the sector in the past year.He expects the

Lower demand from China this year, coupled with cotton prices which have fallen by around 30 percent since August 2013, spells tough times for Sodecoton. Market news has not been good for African cotton companies, alongside Sodecton, which is the apex organisation for cotton trade in the African country of Cameroon, says Business in Cameroon.Business in Cameroon quotes the Commodafrica which has analysed that China, which currently controls 60 percent of the world cotton market, has only a cumu

2014 China Keqiao International Textiles, Fabrics & Accessories Exhibitiion(Autumn) opens inChina Textile City International Convention & Exhibition Center today. Asoneofthe3domesticmajortextileexhibitions,theexpohasputupaperfectdemonstrationandtradingplatformfortextileenterprisesandtradingcompanies,purchasersandprofessionalspectators. In this Exhibition, thereare 1,450 booths from 660 exhibiting enterprises including about 20 foreign enterpries. The main products of clothes, home

Garment exports have continued to rise, but at a slower pace than earlier in the year, according to the latest government figures. Cambodia’s garment exports earned $4.44 billion during the first nine months of the year, based on numbers from the Ministry of Commerce, up 5.9 percent year-on-year. That’s a slower rate of growth than over the first six months, when exports were up 16 percent compared to the same period in 2013. The Garment Manufacturers Association in Cambodia has been w

Even as the Ministry of Textiles opens tenders for appointment of a cluster management and technical agency for development of a powerloom mega cluster in Surat, the industry is expecting a boost to textile exports from the cluster. According to the Powerloom Development Export Promotion Council (PDEXCIL), post such a mega cluster, the industry expects a global share of 10 per cent by 2017-18 from current 5.2 per cent."The mega cluster at Surat, among other places, will boost exports so much so

Finance Minister Ishaq Dar has promised Punjab-based textile industry that the government would resolve their problem of tax refund and gas supply after the industry expressed inability to take advantage of the GSP Plus status. Sources said the industry has conveyed to the Finance Ministry that the country''s exports are declining and the situation would further aggravate if gas shortages persists. The Finance Ministry held a meeting with the business community of Lahore, Faisalabad, Multan to d

Due to global pressure of high production of cotton as in China, India and the United States, domestic market in Pakistan for the time being is hardly stable. The local money market is tight. Low lifting by the mills and the exporters are providing some pressure. At the approaching end of this month, Muharram activities will begin and then some holidays will keep the market closed for a few days at the beginning of November 2014. Till now seed cotton equivalent to about 6.6 million bales (155

Jute spinners have decided to cut their six-day work week to five days from November 1 to avoid stockpiling of the exportable yarn amid falling international demand. Bangladesh Jute Spinners Association (BJSA), which represents the spinning sector, took the decision earlier last week. Due to the closure, production at the nearly 75 active jute spinning mills will go down by 70 percent, sector leaders said. Spinners account for about 65 percent of the receipts from jute exports. In 2013-

Large manufacturers are increasingly moving production back to the United States from China, according to a new report by The Boston Consulting Group released Thursday. In the third annual survey of US-based senior executives at manufacturing companies with annual sales of at least $1 billion, the number of respondents who said their companies were currently reshoring to the US from China increased 20 percent from a year ago. "Given the fact that China's wage costs are expected to grow, do

The latest USDA October report forecasts the US cotton crop for 2014 at nearly 16.3 million bales, down slightly from its last month’s forecast, but is 3.3 million bales or 26 percent above the 2013 production. According to the USDA, although harvested area remained unchanged in October, the national average yield slipped due to which the US production estimate fell 283,000 bales this month.The US upland cotton crop is estimated at 15.7 million bales, above both last season and the 5-year avera