The Shandong Ruyi Technology Group of China led investors have terminated their offer to invest in Pakistan-based Masood Textile Mills Limited. On December 10 last year, the Shandong Ruyi Technology Group, Shahid Nazir Ahmad and Nazia Nazir announced their intention to acquire 31.2 million ordinary shares or 52 percent stake in Masood Textile Mills, a Faisalabad-based vertically-integrated textile manufacturing company possessing in-house facilities for yarn, knitting, fabric dyeing, processi

The 8th international garment, textile and leather machinery and accessories exhibition and conference (IGATEX Pakistan) will be held at the Expo center, Lahore from the 21st of October to 24th of October this year. The highlights of the event include technical seminars, business-to-business match making, regional visitors, and buyers’ promotions. The exhibition will feature over 550 exhibitors from 35 countries including China, Germany, India, Italy, Japan, Turkey, Taiwan, and Switzerland. Th

Knitwear exporters from Tirupur have asked the Textile Ministry to set up a Rs 300 crore market promotional fund to help textile industry to participate in the international fairs conducted outside India and also international fairs being held in India. Tirupur Exporters Association (TEA's) President A Sakthivel has submitted a Memorandum to Sanjay Kumar Panda, Textile Secretary in the exporters meet held in IKFA Complex, Tirupur on Tuesday. In the memorandum it was stated that though the

Germany is fast catching up with the US as the leading destination of Bangladesh's garment products on the back of higher demand and duty benefits. Last fiscal year, some $4.38 billion worth of garment products were shipped to Germany, up 19.02 percent year-on-year. In contrast, garment exports to the US stood at $5.15 billion, an increase of just 3 percent over fiscal 2012-13. “I am exporting to too many German retailers right now. Not that Germany wasn't important to our scheme of things

Wool prices after ending the last selling season continued to remained in a slow, steady declining trend, though with a slight rebound was seen during the last week of the month, according to the Australian Wool Exchange. The Eastern Market Index ended the month of September, the second in the 2014-2015 selling season, at $4.15 per pound, down $0.10 in the month (2 percent) and about 4 percent season-to-date. During the last week, however, prices increased by $0.06 per pound. The price dec

Following the first Pepro (Equalization Premium Paid to the Producer and/or Cooperative) auction which took place on September 25, stakeholders in the Brazilian cotton market are acting carefully in signing new trades.Brazilian cotton sellers expect that, due to government support, prices might be stable or register increases. Purchasers on the other hand are refraining from committing new purchases due to high supply this season and global price drops and are awaiting further cotton price decli

The Ministry of Commerce, Government of China, has fixed wool import quota at 287,000 tons and for wool tops at 80,000 tons for 2015. China has kept its import quota of wool and wool tops unchanged since 2006, even though the country has become the world’s largest wool processor and consumer in recent years. The Ministry said that the wool and wool tops import quotas would be implemented on a ‘first come, first serve’ basis. The Commerce Department has been designated as the authority f

Cotton is a major source of the country's export, and it is the raw material for dozens of modern enterprises of the dynamically developing Turkmenistan's textile industry. Turkmen President Gurbanguly Berdimuhammadov at the governmental meeting expressed dissatisfaction with the pace of the agricultural work, primarily cotton harvesting. He demanded the necessary organizational arrangements be made in order to ensure that the regions fulfill their commitments on delivering raw cotton. Ber

The Australian textile industry has launched a new product which is made from wool that is eighteen-and-a-half micron or finer to give a boost to the superfine wool industry. Traditionally, superfine wool has been reserved for the world's best suits, but now a knitting yarn, using some of the nation’s best wool, has been developed. The product is likely to bring a success for the 90-year-old Wangaratta Woollen Mills and give superfine wool growers, who have struggled with the declining va

Pakistan has not got maximum benefit from the GSP Plus status granted by European Union in January this year, as the country’s exports are on the decline from the last five months. Pakistan’s exports could not increased significantly due to the GSP Plus status granted by European Union from January this year mainly due to the prevailing energy crisis in the country. The government had claimed that country’s exports would register significant increase after the GSP Plus status but it did n