The European retailers will place orders for longer period in higher volume and increase price per unit of products to help their supplier factories in Bangladesh where remediation works are needed to maintain workplace safety, said their platform, The Accord on Fire and Building Safety in Bangladesh. The Accord in a monthly update report on Friday said it had developed a Financing Remediation Guidance for brands (retailers) and factories outlining suggested steps for both parties to ensure

Shares of Suryalata Spinning Mills were trading higher by 9% at Rs 166, extending its 22% rally in past two trading sessions on BSE, after the company engaged in textiles business plans to issue equity shares to the promoterson a preferential basis. “The board of directors of the company will meet on March 14, 2015, to consider and approve the preferential offer letter (PAS-4) for issue of 600,000 equity shares of Rs 10 each at an issue price of Rs 130 to promoters of the company,” Suryalata

The Pakistan Mega Leather Show 2015 on Saturday hosted a group dialogue between Pakistan and India on "South Asia-India-Bangladesh-Pakistan: next hub for leather footwear" at the Lahore Expo Centre. Chairman, Council of Leather Exports, India M Rafique Ahmed who was also present at the discussion briefed the participants about the incentives being enjoyed by the leather industry in India. He also talked about the future plan to impart technical skill to the people in India so that leather se

Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has urged the government to convince the Turkish government to waive off 42.2 percent safeguard measures duty on Pakistan's apparel imports. The government is involved in trade negotiations with Turkey under a proposed free trade agreement these days. PRGMEA Central Chairman Ijaz Khokhar is worried over the reduction in apparel exports to Turkey on account of imposition of safeguard measures duty on textile imports

An installation made of sock textiles is on display at a demonstration hall of the local sock-making industry in Zhuji, Zhejiang province, in February. [Photo/Agencies] China faces 'formidable challenges', says Li China plans to lower the annual GDP growth target to around 7 percent from 7.5 percent, the slowest in 22 years, in light of the ongoing property downshift and deflation headwinds, according to a draft government work report delivered by Premier Li Keqiang on Thursday to the Nati

Apparel export earnings showed 2.56% growth in the first eight months of the current fiscal year, EPB provisional data shows, despite supply chain disruptions in the last two months in the wake of the countrywide political violence. Police escort has helped the RMG exporters to a large extent to ship their products on time. The RMG manufacturers however claimed they had to face setbacks in sending products to Chittagong for shipment due to security problems. The figures, however, showed po

Prices were steady on the cotton market on Wednesday as spinners and some exporters remained in the forefront to replenish their stocks with quality lint. Though ginners’ body report on cotton production has been encouraging, higher consumption of cotton by the textile industry is resulting in shortage of quality lint which is causing frustration among spinners, brokers said. Consequently, even falling prices in the world market including New York cotton and Chinese markets could not impac

German sportswear company Adidas expects robust sales growth in 2015 as its golf business improves and consumer confidence recovers, while net profit should rise faster still despite exchange rate hits and higher marketing spending. The world's second-biggest sportswear group after Nike hopes to more than compensate for the non-recurrence of sales from last year's soccer World Cup thanks to strong momentum at its main Adidas and Reebok brands, a recovery at its revamped golf unit and an expan

The mPedigree network, a global leader makes use of mobile and web technologies in securing products against faking, counterfeiting and diversion has introduced a new technology, the Goldkeys Technology to fight against piracy in Ghana’s textile industry. The Goldkeys technology, is part of a new campaign to end the age-long canker in the local textile industry of Ghana. The new technology will help textile dealers to authenticate original textile products by attaching scratch-labels with co

Several global apparel retailers have recently canceled trips to Bangladesh as political standoff continues, which analysts say could result in shift of orders to other competitors. Over the last two months, representatives from retailers such as GAP, American Eagle, Pinkie, Okidi and Promote suspended scheduled visits, industry insiders said. The visit suspension has created fear among local manufacturers of taking away orders from Bangladesh and shifting to competitors like Vietnam, acco