A third of Russia’s 42,000 clothing retailers will close by the end of this year after the economic crisis hurt local spending, according to the head of the European Fashion and Textile Export Council. The likely retail failures and order cutbacks in Russia mean companies in fashion-exporting nations such as Germany will deliver less apparel for the winter season, said Reinhard Doepfer, who leads the Brussels- and Stuttgart-based industry group. He said the Council surveyed German clothing make

Statistics from China's Textile Industry Association show that while China's textile exports dropped in the first half of the year, China continues to maintain a stable share of the international market. Between January and May, the trade surplus of China's textile and clothing industry increased 11.58 percent compared to the same period last year. Exports were more competitive than the same period in 2008 by 1.22 percent. China's textiles saw a 3.75 increase in the share of the American impo

In the first five months of 2009, China's export of textiles and clothing maintained a favorable balance. Domestic sales became a driving force for the industry’s growth. However, indicators show that the foundations for recovery are still unstable. Between January and June, because of a continuing decline in the demand from overseas markets, total exports of China's textiles and clothing dipped to 60.42 billion USD, a decrease of 11.13 percent year-on-year. Declining international trade

Cotton futures dropped in New York on speculation that textile makers and spinning mills will balk at the highest price in 10 months. Cotton climbed 26 percent this year through yesterday as declines in global production outpaced slowing demand. Today the price tumbled as much as 6.9 percent from yesterday’s high. “Futures went beyond physical demand,” Andy Ryan, a risk- management consultant for broker FCStone Group Inc., said by telephone from Nashville, Tennessee. “We’re now pulling b

LOCAL MP Michael Moore has underlined the urgency of the need for the Government to intervene and support the Scottish textiles industry in a meeting with the UK textiles Minister, Ian Lucas MP. Along with the Chairman of the Scottish Cashmere Club, Ken Pasternak, Mr Moore impressed upon the Minister the need to secure Government backing for trade export insurance, increased bank lending to manufacturers, and to establish a broader package of support for the industry along the lines currently

The smaller units are applying both strategic and tactical shifts to fight the slowdown. The micro, small and medium enterprise (MSME) textile cluster in Ludhiana, Punjab, has rewritten some of its practices to adjust to the global recession according to the findings of a study commissioned by the International Labour Organisation (ILO). The study was conducted in June by the Federation of Indian Micro, Small and Medium Enterprises (FISME) in association with Market Insight Consultants. Th

HANOI, July 15 (Xinhua) -- The Vietnam's Garment and Textile Association said that the country is making efforts to boost garment and textile exports up by 6 percent in the second half of the year, the local newspaper Vietnam Economic Times reported Wednesday. Vietnam suffered a 4.7 percent decrease year-on-year in export turnover of garment and textile in the first half year to 4.14 billion U.S. dollars, said the association. The decrease was due to shrinking demand from the country's

The Apparel Group proudly announces the opening of their flagship store for Aeropostale at IBN Battuta Mall, the world's hottest shopping destination. This is their second Aeropostale store in Dubai. The first store was launched in Oasis Centre on Sheikh Zayed Road. Mr. Govind Bharwani, President, The Apparel Group says: 'It's always nice to have as many options as one can have to shop from and we are offering our consumers the best with Aeropostale.' Seeing the need of being up-to-da

KARACHI (July 13 2009): Federal Board of Revenue (FBR) is planning to deduct income tax on the facility of Research and Development (R&D) for the textile sector. Sources told Business Recorder on Saturday that the board was considering deduction of income tax on Rs4 billion allocated for the development of the sector in 2008-09. "Despite spending the amount in the last fiscal year, it had not been utilised for the purpose, which raised several questions," they said. They said the board wa

One of Mozambique's largest textile factories Texlom in the southern city of Matola has resumed operations after being paralyzed for several years, according to local media AIM on Monday. After an investment of about 2.5 million U.S. dollars by the new owners, the Aga Khan Foundation, the factory, now renamed Moztex, is currently operating on an experimental basis. The factory now employs 260 workers, mostly young girls, but plans to employ about 700 people when it starts full operations