Cotton prices pushed higher on Friday with steady flow of buying orders. But no pick up seen in the trading activity as ginners held stocks anticipating higher prices in the coming days. Deal was reported to be conditional. The Karachi cotton Association raised its spot rates by Rs50, to Rs6,700 per maund on Fri¬day. Nevertheless, trading was marked by a single big deal of 5,801 bales which was quo¬ted at a high price of Rs7,200 per maund (around 37 kilograms). A similar deal of 3,434

As US President Donald Trump pulled America out of the Trans-Pacific Partnership (TPP) on 23 January with an executive order, he signalled he will instead ask Asian TPP members for bilateral free trade agreements (FTAs). This includes countries such as Vietnam that rely on apparel and textile exports. The TPP was also to have included Canada, Mexico, Japan, Australia, New Zealand, Chile, Peru, Malaysia, Singapore and Brunei. But it is unclear whether there will be much enthusiasm among these

Turkey’s textile and clothing sector witnessed a drop in trade during 2016, according to new statistics, with the industry struggling to deal with slowing growth in the global economy and political disruption in its home country last year. The weakness of the Turkish lira in exchage markets has also harmed the industry by raising the cost of inputs. The Turkish Exporters Assembly (TIM – Türkiye İhracatçılar Meclisi) has said that exports from Turkey’s textile sector and readymade cl

Garment corporations expect to earn more through improved production and increased exports, hope to attract investments and go ahead with their expansion plans in 2017. The Ha Noi Textile Garment Company (Hanosimex) has targeted a 10 per cent increase in revenue this year compared to 2016. Nguyen Song Hai, general director of Hanosimex, said the company aimed a revenue of between VND2.8 trillion (US$123 million) and VND3 trillion, higher than last year’s VNĐ 2.7 trillion, with a profi

Cotton production has increased 10.6 per cent year-on-year to 10.634 million bales this season, Pakistan Cotton Ginners Association (PCGA) said on Friday. During the outgoing fortnight (Jan 15 to Feb 1), however, cotton output fell 28pc to 98,785 bales. Cotton analyst Naseem Usman believed the growth of 10.6pc was not enough and it only represented a short recovery. The previous PCGA report (for the fortnight ending Jan 15) reported the growth at 11.2pc. Due to short crop, spinners ar

The world economy is set to maintain a solid level of growth in 2017, but the deficit will continue to be a problem, according to the ESADE 2017 Economy Report published on Thursday by the business school and Banco Sabadell. The report, which also looks at the possible effects of Brexit and the election of Donald Trump as US president, predicts higher growth in developing nations, which can expect to see their economies expand by an average of 4.5 percent. India is expected to see a 7-pe

Finance Minister Arun Jaitley on Wednesday announced plans to launch a scheme for the labour intensive leather and footwear sector -- similar to the existing one for textiles -- to boost its growth and creation of jobs. The scheme will be on the lines of the package announced for the textiles sector in June 2016. "A special scheme for creating employment in the textiles sector has already been launched. A similar scheme will be implemented for the leather and footwear sector," Jaitley said

Pakistan’s textile and clothing exports grew only 0.02 per cent to $1.035 billion in December year-on-year driven by value-added products, the Pakistan Bureau of Statistics (PBS) said on Friday. Export proceeds from the value-added products recorded growth for three consecutive months. The rise in export proceeds is also evident in rupee terms. Last year, the government annou­nced a textile policy that gives a 4pc rebate on the exports of readymade garments on a 10pc incremental increa

The National Assembly’s Standing Committee on the Textile Industry was informed on Tuesday that a large number of textile units have either shut down or relocated to regional countries due to a high cost of utilities. Representatives of the value-added textile sector informed committee members about a number of factors that have put the country’s exports at risk. The members expressed surprise that the K-Electric CEO failed to show up at the meeting being held at Pakistan Hosiery Manufac

Phan Cao Thang, Permanent Vice Chairman of Binh Dinh People’s Committee, has authorised a plan to develop the province’s textile industry till 2025 with orientations to 2035. The key objectives of the plan are to build Binh Dinh’s textile industry into a key economic driver and one of the province’s chief high-quality export suppliers, to slowly synchronise production from input to output and to implement a global standard environment management system. Binh Dinh aims to become the central