The wool market is finally heading in the right direction with prices rising for the second week in a row. The Eastern Market Indicator crashed through the 1000 cents a kilogram to 1022, with the pass in rate slightly higher at 4 per cent. Simon Seppelt, from Quality Wool at Jamestown says it's mainly due to the drop in the Australian dollar. Source: ABC News.

Myanmar women work at a garment factory in Yangon. The country's reinstatement to the EU's Generalised System of Preferences is expected to significantly boost its textile exports. (AP file photo) Myanmar is on course for a big jump in textile exports to Europe following the return of trade privileges by the European Union (EU), according to the Thailand Textile Institute. The lifting of the ban on Myanmar under the EU's Generalised System of Preferences (GSP) would rapidly drive up Myan

Gaoxian County in Yibin, Sichuan Province has signed an agreement with Silk Road Holding (Group) Co., Ltd. and Lihua Silk Co., Ltd. on setting up Yibin Silk Industrial Park with a total investment of CNY 350 million. The project is designed to build a spinning zone for producing annually 800 tons of high-quality raw silk with expected sales revenue of CNY 300 million, a weaving zone for producing annually 8 million meters of high-grade silk and satin and a functional zone for silk boiling and

Reliance Industries, the world's largest refiner, has restarted a 330,000 barrels per day crude distillation unit (CDU) on Monday following a shutdown last week for maintenance, traders said. The privately-run refiner operates two refineries in Jamnagar on the Arabian Sea with a total capacity of 1.24 million barrels per day (bpd). The CDU which was shut last week was located in the older, 660,000 bpd refinery. "The shutdown should have taken place before it sold a June naphtha cargo la

Ecuador's first quarter crude oil export revenue fell 4% from a year earlier to $3.38 billion due to lower oil prices, the central bank said Monday. The average price of crude in the three months fell 5% to $99.16 a barrel. By volume, Ecuador exported 34.14 million barrels in the first three months of 2013, up 1%. Crude oil is Ecuador's main export. All the oil is exported by Ecuador's state-owned companies. The central bank also said Ecuador produced 45.55 million barrels of crude oil fo

The backwardation structure in the Asian paraxylene market narrowed to $2/mt Thursday from $5/mt Wednesday as front-month laycans were seen to be weaker than back-month and amid heavy spot PX selling by Chinese purified terephthalic acid producers, Platts data showed. Early Friday, the structure was seen to turn flat, reflecting the latest H2 June/July spread bid and offers. Thursday night, a bid for H2 June/July was heard at minus $2/mt on a CFR basis, indicating the market is in contango, whi

Konica Minolta, Inc. (Konica Minolta) will be unveiling for the first time a new inkjet textile printer, the Nassenger PRO120, at ShanghaiTex 2013, an international textile and garment machinery exhibition to be held at Shanghai, China, from June 10 through June 13. As the third model in the Nassenger PRO series, the new, high-performance Nassenger PRO120 has the maximum print speed of 120m2 per hour, twice as fast as that of the popular model, the Nassenger PRO60 introduced last year. Equippe

Huntsman Textile Effects, a division of Huntsman Corporation and a leading global provider of high quality dyes and chemicals to the textile and related industries launched PHOBOL CP-DP and PHOBOL CP-DL fluoropolymers. This new dual action system is the latest innovation from the Huntsman and DuPont Textile Alliance to further industry-leading initiatives to transition to short-chain chemistry. The Huntsman and DuPont Textile Alliance was the first to launch the Dual Action (repel and relea

F&F, the clothing range sold by British supermarket chain Tesco, is taking off to expand in the Middle East, as Tesco just announced. F&F has unveiled plans to open more than fifty new franchise stores over the next five years in new markets across the Middle East and in Kazakhstan, Georgia, Armenia and Azerbaijan. "We've had a strong year and our combination of good quality and contemporary design appeals to customers across the world. I'm excited to see F&F moving into these new m

Next’s group property director Andrew Varley is to step down from his position with the high street retailer next year after 27 years. Varley will retire from Next in June next year but will also step down from the board on May 31 this year. In a statement Next said: “Andrew’s departure next year does not represent a change to the strategy of the business; the profitable expansion of our trading space remains a key part of the Group’s plans going forward.” During his time at Next Varley has h