Chinese refinery and petrochemicals giant Sinopec (Beijing; www.sinopec.com) is planning to build the company's first gas-based cracker. According to a report from the international news agency "Reuters", Sinopec wants to build the facility in Qingdao, in the country's northeastern province of Shandong, which places it halfway between Beijing and Shanghai. The proposed cost for the site is anticipated to be roughly USD 3.1 bn. The news agency says it will take three years to complete the plant.

India's largest garment fair was inaugurated in Mumbai on Monday. The 57th National Garment Fair is under way at the Bombay Exhibition Centre in Goregaon from July 1-3. The Clothing Manufacturers Association 0f India (CMAI), which is celebrating its golden jubilee this year, has organised this event. Around 589 stalls displaying over 640 brands across an area of 3.75 lakh sq ft. No less than 35,000 retailers from across India are expected to visit this B2B fair. Four fashion shows are part o

After the CNG price hike, the Gujarat Gas Company Limited (GGCL) has revised its industrial gas price by 5.6 per cent effective from Monday. Sources said the GGCL has revised the industrial gas price from Rs 31.53 per standard cubic metre (SCM) to Rs 33.29 per SCM for the gas-based units in Surat, Ankleshwar and Bharuch. Industry experts said the company had issued notices to the industrial users, including the textile processors in the man-made textile hub of the city regarding the hike in

Sales of cotton have risen this marketing season compared to the same period last year due to the early resolution of the producer price, an authority said on Monday. Latest figures that the Agriculture Marketing Authority (AMA) released show that a total of 41,907,690 kilograms of cotton have so far been purchased since the marketing season opened in April this year, Zimbabwe's news agency New Ziana reported. Last year, a total of 349,000 tonnes of cotton were sold since the selling season

Textile Raw Material Price 2013-07-02 Item Price Unit Fluctuation Date Oil WTI 96.56 USD/Barrel 1.39 2013-07-02 PX 1436 USD/Ton 24 2013-07-02 PTA Buy 7600 RMB/Ton -30 2013-07-02 PTA Sell 1055 USD/Ton 0 2013-07-02 MEG Buy 7030 RMB/Ton -100 2013-07-02 MEG Sell 948 USD/Ton 0 2013-07-02 CPL Buy 18300 RMB/Ton 0 2013-07-02 CPL Sell 2370 USD/Ton 0 20

Australian online entrepreneurs have seen the country take over the highest number of online stores in comparison to anywhere else in the world. According to the latest research, Australia saw a 200 percent growth in the number of new e-commerce shops between 2010 and 2012. Furthermore, Australians see a higher average online spend online, according to Bigcommerce. Bigcommerce, an online systems and services provider said Australian shoppers spend nearly 142 Australian dollars per order, the e

"The size of Indian domestic readymade garment industry will double within five years due to economic prosperity, simplified government policy, growth in fashion orientation and brand awareness as well as consumer expectations,” stated Rahul Mehta, President, Clothing Manufacturers Association of India (CMAI). According to the recent survey about market statistics conducted by CMAI, currently the total size of the Indian apparel industry is around Rs 2,00,000 crores. Out of this, unstitched app

High street retailer Marks & Spencer has launched a new youth employability scheme, Make Your Mark, in partnership with youth charity, The Prince’s Trust, to offer more than 1,400 work experience placements for 16-25 year olds. With youth unemployment in the UK at a record high, with one in five 16-25 year olds struggling to find a job, the retailer is hoping that its new training and job placement programme will help “address the skills and experience gap” that prevents young people from fi

Russian police arrested some 200 Vietnamese workers making knockoff sports garments following a raid on an illegal factory outside Moscow Wednesday , Russian news agency RIA Novosti reported. The Vietnamese were working and living at the factory in the town of Noginsk, east of Moscow, making fake brand-name sportswear,the police said. The workers were taken to a police station. An investigation has been launched to identify the building’s owner and tenant. Source: Thanh Nien News.

The China National Textile and Apparel Council is calling on garment makers to invest overseas to maintain growth. “The industry has suffered sluggish development due to the slowing global economy and rising costs,” said Wang Tiankai, president of the association. Bosideng International Holdings Ltd and JNBY Finery Co Ltd are pioneers of Chinese garment makers willing to invest overseas. Currently, Bosideng has more than 80 stores in the UK, and the company said it plans to expand in Europ