Export of Bangladeshi readymade garments (RMG) to the Scandinavian countries has annually been increasing at a rate of 30 per cent for the last five years. Export to the Nordic region, including Norway, Denmark, Sweden and Finland, rose to US$980 million in the last financial year (FY), 2012-13, which was $391 million in the FY09, thanks to increasing shipment of high-value products (HVPs), insiders said. The state-run Export Promotion Bureau (EPB) data showed that during the period, Bangl

Bank employ checking for the fake currency. (AP) RBI's fight to prop the tottering rupee has contributed substantially to forex reserves dipping by a hefty USD 16.554 billion or 6 per cent to a low of USD 275.49 billion since the beginning of this fiscal. According to marketmen, a large part of this has been used to save the bleeding rupee, which went on a downward spiral after May 22 when Ben Bernanke of the US Fed had hinted at turning his easy money policy much earlier than previously h

Indian consumers are more conservative than their western counter parts so there is an increase in footfalls for intimate wear in the country’s e-commerce platform mainly due to the privacy provided by it. According to industry representatives, the lingerie buyers of the country get more exposure to the international brands and latest fashion trends through online portals. In a conversation with fibre2fashion, Ms. Neha Shah, marketing and sales manager at ShopImagine.in, an online boutique

(A radical plan to ditch its stockpiling programme in favour of subsidies to farmers that could lead to a long-term cut in China's imports has also hurt market sentiment.) India's cotton exports are expected to drop by a fifth this year on account of a slump in purchases by top cotton consumer China and higher domestic prices, a Reuters survey of traders and exporters found. Lower Indian exports this year could provide some respite to soft world cotton prices which have shed nearly 12 pe

Workers are seen working in a garment factory Apparel manufacturers expect the cost of clothing production to increase sharply in the days to come, because of setting high the factory safety standards and wage hikes in the wake of the Rana Plaza building collapse. Stakeholders, however, have assured that Bangladesh’s garment industry would still remain competitive in the global market. Rising labour cost is going to be the main factor in the increasing cost of production, they said. Com

Around 4,000 Cambodian garment workers protested on Thursday after a factory supplying global brands including Gap and H&M allegedly fired hundreds of their colleagues for striking over conditions Around 4,000 Cambodian garment workers protested on Thursday after a factory supplying global brands including Gap and H&M allegedly fired hundreds of their colleagues for striking over conditions. Union leaders said the Singapore-owned SL Garment Processing factory fired 720 workers on

American Apparel announced preliminary sales for the month ended August 31, 2013 with total net sales for August 2013 at 55.7 million dollars, a decrease of 1 percent over August 2012. Comparable sales for August 2013 increased 3 percent, including a 2 percent rise in comparable store sales in the retail store channel and an 11 percent increase in net sales in the online channel. Wholesale net sales decreased 6 percent for the month. “August represents our 27th consecutive month of positive com

In Iraq the State Company of the Leather Industries dismissed 200 workers. In opposition the Federation of Workers Councils & Unions of Iraq (FWCUI) organized a number of protests across the country. According to the reports from FWCUI and the union of leather workers around 200 employees, including both daily- waged and contracted workers, have been dismissed without due notice by the administration of the State Company of the Leather Industries. Many of the workers have had at least six

Textile industry is likely to face cotton and yarn shortage, as the crop production target set for the current season has been missed, it is learnt. The expected shortage of both the commodities will result in low value added textile exports and the prices will also go up making it difficult for the value added export sector to compete in the foreign market, sources in the textile industry told Business Recorder. The industry is likely to import about 1.5 million bales to meet the domestic requ

Even as a BJP delegation led by Devendra Fadnavis and leader of opposition in state legislative council Vindod Tawade on Monday met chief minister Prithviraj Chavan to apprise him of delay in relief reaching farmers in Vidarbha region, there are indications that the main cash crop of cotton may suffer a loss of at least 15%. State cotton growers cooperative marketing federation chairman N P Hirani told TOI this was initial estimate. "A clear picture may emerge after a fortnight. Excessive rai