The International Monetary Fund was launched in 1944 with the world's new superpower, the United States, in position as the key force and shareholder in the global crisis bank. Today, China is on the verge of becoming the world's largest economy. But its voice at the IMF -- wrapping up its annual meeting this weekend in Washington -- remains that of a minor country, and some worry this could undermine the crucial, 70-year-old institution. The IMF estimates that by the end of this year,

China-based Shenhua Ningxia Coal Industry Group Co. Ltd has awarded a contract to CB&I for the license and engineering design of a polypropylene line to be setup in Ningxia. The Shenhua Ningxia unit will use CB&I's Novolen technology to produce 600,000 MTA of polypropylene. CB&I said that there are already two units utilizing Novolen technology at the existing site, each with cascade and parallel production lines. Once the new unit is set up, polypropylene capacity will rise

Cotton is the major source of Turkmenistan's export and raw material for dozens of modern enterprises of the dynamically developing textile industry of Turkmenistan. Turkmenistan allocated total area of 545,000 hectares for cotton production. Ahal province is the leader among the country’s provinces, where almost 71 percent of the planned volume has been harvested. Turkmenistan has harvested more than 64 percent, or over 676,000 metric tons of cotton to date, Turkmenpagta (Turkmen cotton)

Last month’s Intertextile Shanghai Home Textiles was hailed as a resounding success after a very strong 10% increase in buyer numbers (compared to 2013). A total of 43,189 buyers from 94 countries and regions came to source from 1,334 exhibitors from 31 countries and regions. 38,571 buyers from China and 4,618 from overseas attended, while the top five visitor countries and regions besides Mainland China were Korea, Japan, Taiwan, Russia and the US. The fair took place at the Shanghai New Int

Bangladesh home textile sector faces negative growth during the first two months of the current fiscal year 2014-15. The major factors which count for blocking the growth of country’s potential home textile exports are European Union GSP facility for Pakistan, appreciation of the local currency against the US dollar and recent political turmoil. According to Jahangir Alamin, President of Bangladesh Textile Mills Association, Bangladeshi-made home textiles are lagging behind Pakistan in terms

The Shandong Ruyi Technology Group of China led investors have terminated their offer to invest in Pakistan-based Masood Textile Mills Limited. On December 10 last year, the Shandong Ruyi Technology Group, Shahid Nazir Ahmad and Nazia Nazir announced their intention to acquire 31.2 million ordinary shares or 52 percent stake in Masood Textile Mills, a Faisalabad-based vertically-integrated textile manufacturing company possessing in-house facilities for yarn, knitting, fabric dyeing, processi

The 8th international garment, textile and leather machinery and accessories exhibition and conference (IGATEX Pakistan) will be held at the Expo center, Lahore from the 21st of October to 24th of October this year. The highlights of the event include technical seminars, business-to-business match making, regional visitors, and buyers’ promotions. The exhibition will feature over 550 exhibitors from 35 countries including China, Germany, India, Italy, Japan, Turkey, Taiwan, and Switzerland. Th

Knitwear exporters from Tirupur have asked the Textile Ministry to set up a Rs 300 crore market promotional fund to help textile industry to participate in the international fairs conducted outside India and also international fairs being held in India. Tirupur Exporters Association (TEA's) President A Sakthivel has submitted a Memorandum to Sanjay Kumar Panda, Textile Secretary in the exporters meet held in IKFA Complex, Tirupur on Tuesday. In the memorandum it was stated that though the

Germany is fast catching up with the US as the leading destination of Bangladesh's garment products on the back of higher demand and duty benefits. Last fiscal year, some $4.38 billion worth of garment products were shipped to Germany, up 19.02 percent year-on-year. In contrast, garment exports to the US stood at $5.15 billion, an increase of just 3 percent over fiscal 2012-13. “I am exporting to too many German retailers right now. Not that Germany wasn't important to our scheme of things

Wool prices after ending the last selling season continued to remained in a slow, steady declining trend, though with a slight rebound was seen during the last week of the month, according to the Australian Wool Exchange. The Eastern Market Index ended the month of September, the second in the 2014-2015 selling season, at $4.15 per pound, down $0.10 in the month (2 percent) and about 4 percent season-to-date. During the last week, however, prices increased by $0.06 per pound. The price dec