Hong Kong exports are expected to experience only mild growth in 2010 given that external demand will remain below their pre-crisis level, economists has said. The Hang Seng Bank on Monday estimated that Hong Kong exports fell by 12.4 percent in 2009, and projected a growth of 8.6 percent in 2010. The rebound will be significant but the total value of exports will remain below the pre-crisis level in 2008, the bank's Chief Economist Joanne Yim said in a report released on Monday.

KARACHI: Pakistan Readymade Garments Manufacturers and Exporters Association former chairman Bilal Mulla has asked the Cabinet Committee on Textile and Textile Industry Minister Rana Mohammad Farooq Saeed Khan to restrict export of yarn in order to make it available in the local market for the value added textile industry. Monthly export of yarn prior to June 2009 was 48 million kg but it jumped to 55 million kg in July 2009, 63 million kg in August, 56 million kg in September, 74 million kg i

The managing director of one of Australia's last remaining vertically integrated knitwear mills has denounced the Federal Governments plan to wind-up its duty concession scheme next June as the final death knock for the local industry. Steve Tsonidis, general manager of Melbourne-based knitwear and textiles manufacturing company ABMT textiles, said forcing companies that use Australia-made fabrics and get them assembled overseas to pay import duties on top of GST would make his business unvi

Textiles on display at a market in Jakarta. Indonesian textile and steel industries are particularly nervous about the lifting of trade tariffs in Asia. KUALA LUMPUR -- When the clock strikes midnight on New Year's Eve, China and 10 Southeast Asian nations will usher in the world's third-largest free trade area. While many industries are eager for tariffs to fall on everything from textiles and rubber to vegetable oils and steel, a few are nervously waiting to see whether the agreement will

The industry’s estimated losses stand at Rs 5-6 crore per day. Political instability and violence following the demand to carve a separate state out of Andhra Pradesh has dented the Rs 40,000-crore Surat-based synthetic textile industry. The industry is losing Rs 5-6 crore business daily due to the turbulence. With shops shut almost everyday in the southern state, the demand for synthetic fabric and finished goods from Surat has also taken a hit and the situation is getting worse, with the

Global 2009-10 cotton production is estimated at 102.7 million bales, down four percent from a year ago, and continuing the trend of declining production which began in 2007-08, AEPC report said. According to the Apparel Export Promotion Council (AEPC) release, Among factors contributing to the decline are the sluggish recovery from the global financial crisis and the world food price shock of 2008 which encouraged cotton farmers to substitute area to food grains and other competing crops. Reduc

The Cabinet Committee on Textile here on Wednesday decided to eliminate 5 percent customs duty on import of cotton yarn falling under chapter 52 of the Harmonized Tariff Schedule. Status quo would be maintained on export of cotton yarn and it has been decided that Cabinet Committee will keep the Yarn exports under review and would only take corrective measures if exports cross the level of 50 million kg per month. Federal Minister for Textile Industry, Rana M. Farooq Saeed Khan, presided over

The Centre today said it expects foreign investments to the tune of around Rs 25,000 crore in the textile sector over the next five years. "Around Rs 25,000 crore of foreign investment is expected to be made in the country over the next five years," Union Textiles Minister Dayanidhi Maran said after inaugurating the National Handloom Expo here. The minister hoped that the steps taken by the government would increase foreign investment in the country. He said steps are also being taken to set up

Same day deliveries are being offered by a brace of retailers online today in a last-ditch attempt to maximise full-price sales. Lingerie brand and retailer Agent Provocateur was offering a UK same day delivery service for all orders placed with its “personal shopping” team by 1pm today, with a guarantee that the merchandise would be couriered between 6 - 9pm this eveing. A charge of ?20 was being levied for the service, which was being offered in London, Manchester, Leeds and Glasgow. Net

John Lewis revealed this morning that sales from Sunday to Wednesday this week were up 27% on 2008 levels. Last minute gift sales in lingerie have been particularly strong, with designer lingerie sales up 115% driven by brands such as Stella, Myla and La Perla. Cold weather footwear has performed well due to the snow, with sales of snow boots trebling and wellington boots up 160%, and the company has sold a pair of slippers every two minutes. The Clearance starts online at 6pm today, and i