Cotton prices traded lower on the back of weak export and domestic demand. According to traders, the tend in the market is lukewarm as there is no big buying. Gujarat Sankar-6 cotton decreased by Rs 200 to Rs 37,200-37,500 for a candy of 356 kg. The Kalyan variety cotton traded at Rs 29,000-29,500 for a candy. About 20,000-22,000 bales of cotton arrived in Gujarat and 65,000-68,000 bales across the country. Cotton ready delivery quoted at Rs 3,870-3,965 a quintal in Punjab, Rs 3,810-3

The China Africa Cotton project for construction of factory for cotton ginning and producing cotton seed oil in the Maringué district, in the north of Sofala province, is at an advanced stage, said a district official. Carlos Coimbra, the district director of the Economic Activities Department, told Mozambican newspaper Notícias that Chinese investors had secured the investment needed for building the unit and were now waiting for conclusion of the economic feasibility study. The factory, whi

Bangladesh's apparel industry has been hit by shortage of labour, particularly skilled and semi-skilled ones, as many of the factories are suffering from the problem, resulting in shifting of export orders to other countries. The insiders including, among others, some of the owners of the readymade garments (RMG) units, said they have been facing such a situation that has already affected their production and export earnings. "Many foreign buyers are coming to us for placing orders, but somet

Morgan Fabrics is moving into a new warehouse and distribution center here that at 320,000 square feet is almost triple the size of the building the company has leased for the past six years. The building, which Morgan will use as its Tupelo Free Trade Zone facility, sits on a 25-acre site. Arnie Gittelson, chairman of the Los Angeles-based fabric supplier, said in a statement that Morgan is constructing new offices at the facility this month, adding new telephone and IT facilities, and upgr

40 Italian textile machinery manufacturers will be represented at upcoming Techtextil 2013 (June 11 – 13) in Frankfurt (D) and thereof 13 will be present at Meeting Point Italia, the exhibition space set up by ICE the Italian trade Promotion Agency, and ACIMIT, the umbrella association of Italian Textile Machinery Manufacturers. The thirteen exhibitors at the ICE-ACIMIT Meeting Point (Hall 3, stand B08) will be Bianco, Bombi, Bonino, Corino, Dell’Orco, Errebi, Ferraro, Gemata, Ramina, Ratti, Sa

Nike Nike is removing these shirts from sale. Nike is in the process of removing this "Boston Massacre" T-shirt from its outlets, according to ESPN's Darren Rovell. The shirt — which shows the word "Boston" spattered with blood — has nothing to do with the bombing of the Boston Marathon. Rather, it's a shirt for fans of the New York Yankees commemorating a 4-0 series of games in 1978 that the Yankees won against the Boston Red Sox. The marathon bombing took place the same day as a

The White House says President Obama supports a bill to give states more authority to collect sales tax from Internet retailers. White House spokesman Jay Carney says the Senate bill would level the playing field for small businesses and brick-and-mortar retailers that are undercut by online companies. Carney says that governors and mayors have overwhelmingly told the White House the bill is needed. He says states are losing out on revenue that could go to education, law enforcement, infra

Ralph Lauren Corp. has agreed to pay $1.6 million to resolve allegations that it bribed government officials in Argentina to get customs clearance for its merchandise. The Securities and Exchange Commission said Monday that the clothing maker reported the violations itself after they were discovered. The New York company agreed to pay $735,000 to the SEC and $882,000 to the Department of Justice as part of a parallel investigation. According to the Justice Department, the manager of Ralph

Next has become the third largest British retailer for market value at 6.9 billion pounds. Earlier this year the company reported a 15 percent hike in earnings per share and dividend for their investors. This weekend, Next’s stock market value was 6.9 billion pounds, behind Sainsbury’s 7.1 billion pounds and Tesco’s 29 billion pounds, reported ‘Daily Mail’. A surge in the share price of fashion retailer Next has made it Britain’s third-biggest retailer. Earlier this month Next announced that i

Hermès has reported its first quarter financial report for the three months ended March 31, 2013. Sales grew 12.8 percent at constant exchange rates and 10.3 percent at current exchange rates. Revenue also grew 12.8 percent. Revenues from wholesale channels grew 9.9 percent at constant exchange rates. Hermès International did not buy back any of its own shares during the first quarter of 2013, other than shares traded under the liquidity contract. In the first quarter, growth was dynamic in all