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

With Vietnam eyeing early conclusion of Free Trade Agreement (FTA) and Trans-Pacific Partnership (TPP), which according to the Ministry of Industry and Trade, the two agreements will be signed in 2015. The Chinese, Hong Kong and Taiwanese investors have of late started increasing their investment in garment and textile industry in Vietnam. The Chinese Texhong Group has recently functioned the first phase of another US$300 million plant in Mong Cai City, Quang Ninh Province, after building tw

INVISTA, one of the world’s largest integrated producers of fibers and polymers and owner of the LYCRA® fiber brand has launched its new consumer campaign, the roll-out to markets around the world of which began in September.INVISTA said this visually exciting initiative and associated co-branding and merchandising opportunities is being shared with trade partners at a new business-to-business website which went live on October 6, 2014.The new consumer campaign is the outcome of a two-year, mult

Coats, one of the leading industrial thread and consumer textile crafts companies, has announced the opening of a state-of-the-art zips factory in Chittagong, on the eve of completing 25 years of operations in Bangladesh. The new zips factory will open by 2015 and is being established in response to the growing demand from global consumer apparel manufacturing brands in Bangladesh. The new factory will create over 100 new jobs locally, and over time, will manufacture the full offering of zips,

Rhodia is showcasing and debuting Emana Denim, the first jeans produced with a bioactive-mineral-based polyamide yarn, which helps and protects skin and body at the ongoing Intertextile Shanghai Apparel Fabrics, which runs from October 20 to 23, 2014. “Already a hit in New York and Brazil, Emana Denim is made of bioactive-mineral-based polyamide yarn, an ally in skin and body care and helps reduce the cellulite appearance,” Rhodia says.Emana absorbs the human body and returns it as far-infrared

Global summit where the entire textile industry value chain meets organized by the International Textile Manufacturers Federation (ITMF), this year took place in Beijing from October 16-18. China joined ITMF in 2008, and continues to be an increasingly important textile market. The majority of attendees came from China as it is leading the way to the top of the global economy, and its arrival at the top can be only a matter of time. According to Wang Tiankai, president, China National Textile