Crude oil was up in Asia today, buoyed by strong Japanese equities as the market recovered from a downbeat US jobs report, analysts said. New York’s main contract, light sweet crude for delivery in May added 14 cents to $92.84 a barrel and Brent North Sea crude for May delivery increased 32 cents to $104.44. “The oil market is moving in sync with the Japanese stock market. Oil is also recovering from the selling that came after the US jobs report,” Victor Shum, Managing Director at IHS Purvi

Apex apparel body AEPC has organised a two-day fair in Gurgaon beginning today to attract foreign buyers and boost exports from the sector which has been hit hard by the global demand slowdown. Buyers from countries such as Greece, Australia, South Africa and the US are participating in the fair - India Market Days. The event would help the exporters find the right partners for their business," Apparel Export Promotion Council (AEPC) A Sakthivel said while inaugurating the fair. The event

Cotton planting in India, the world’s largest grower after China, may drop for a second year after the weakest monsoon rains in three years deepened a water shortage in the main growing regions. Futures in Mumbai climbed. The acreage may fall 6.5 percent to 11 million hectares (27.2 million acres) in the 2013-2014 season, planting of which began this month, according to the median of estimates from five exporters, analysts and industry groups compiled by Bloomberg. Sowing fell to 11.77 million

Industrial and domestic power outages have reached a historic level in Punjab, threatening the livelihoods of millions of workers, All Pakistan Textile Mills Association’s (Aptma) leadership said. “We strongly protest against Punjab-specific domestic and industrial power outages” Aptma Chairman Ahsan Bashir said, while addressing a press conference. He said that power distribution companies cut off eight hours of power supply for the textile industry on Sunday and have now threatened to stop t

Growth in retail sales slowed last month despite a boost from an early Easter, as unseasonably cold weather hurt demand for summer clothes and shoes, industry data showed on Tuesday. The British Retail Consortium said retail sales values rose 1.9 percent from a year earlier on a like-for-like measure, which strips out changes in stores' floor space and is favoured by equity analysts. That compared with a 2.7 percent increase in February. The total value of sales grew by 3.7 percent in Mar

Imaginechina/Zuma Press Prada has 25 boutiques in China, including this one in Shanghai. 'Our expansion is not complete,' said Deputy Chairman Carlo Mazzi. Prada SpA's sharp focus on Asia resulted in a 72% rise in profit for its most recent fiscal year, a sign that one of the luxury-goods industry's biggest bets on the growing Chinese market is paying off. Prada—which includes the main Prada label as well as Miu Miu, Church's and Car Shoe—said Thursday that net income for the year ended

The energy-starved leather industry had largest ever participation in Asian Pacific Leather Fair Hong Kong this year. More than 75 companies participated in the fair. Pakistan first time participated in global contest of tannery of the year 2013 and Pakistani tannery based at Lahore was decorated with first position in highly commended award of Asia and was declared second best tannery in Asia after Japan. The award ceremony was held in Hong Kong among hundreds of tanners from all over the world

Image problem and energy shortage are two major challenges of textile industry in Pakistan that lost $10 billion export opportunity in last seven years while the regional competitors grew enormously during the same time. This was stated by Secretary APTMA Punjab Anis-ul-Haq during a detailed presentation on the APTMA and Sustainable Production Centre to visiting German delegation. A German delegation from Federal Ministry for Economic Cooperation & Development, German Embassy, KFW Ban

Indian textile and garment manufacturers are eyeing on emerging markets, including South America, Japan, Australia, New Zealand and Africa, for exports. According to industry representatives, Indian textile sector witnessed a negative growth mainly due to decline in clothing exports in 2012-13. However, exports to non-traditional markets recorded positive growth during this period and the textile and apparel makers expect the growth to continue in the current fiscal year. Speakin

Shipment orders of apparel worth about US$ 2.208 million were cancelled over the last one and half months due to failure in maintaining shipment time because of observance of hartal and political unrests. The companies also incurred a loss of US$ 0.896 million because of razing of the consignments while on their way to the port. “The buyers had negotiated prices, the fabrics and accessories had come and we had sewn the cloths. But, finally, the orders got cancelled,” said Atiqul Islam, p