Plexus Cotton Limited reported that New York (NY) futures came under pressure this week, as December lost 246 points to close at 73.53 cents. The market’s 3-month uptrend, which began on June 4 from a low of 64.61 cents, has finally been broken when December dropped below its uptrend line after a bearish USDA report on Wednesday. However, as was the case when the market was trying to go higher, there is not a lot of conviction behind this down move either, since we are still not seeing the

Asenior trade official warned on Thursday that the Japanese government's so-called purchase of the Diaoyu Islands will "inevitably have a negative impact on China-Japan economic and trade ties", while Japanese-funded companies expressed concerns over tensions. "If Chinese consumers, in a reasonable manner, express their positions and views against Japan's violation of China's territorial sovereignty, I think it is within their rights to do so and it is understandable," Vice-Minister of Comme

The International Textile Manufacturers Federation (ITMF) Annual Conference 2012 will be held in Hanoi/Vietnam from November 4-6, 2012. The theme of the conference “Challenges for the Global Textile Industry – Present and Future” reflects the fact that the global textile industry faces a very difficult business environment. Volatile raw material markets, sovereign debt crises, currency disputes, political instability in some regions, a blocked Doha-Trade-Round, looming protectionism, growing

Bourne Textiles presents a cheque to the Lincolnshire and Nottinghamshire Air Ambulance. Pictured are Tony Dewey, David Bower, Richard Clark, Vivienne Chambers from the air ambulance, Luke Enderwick and Tom Little Photo: SG120912-129TW A CHEQUE for more than ?5,100 has been handed over to charity. Richard Clark, David Bower, Tony Dewey, Tom Little and Luke Enderwick, who all work at Bourne Textile Services, scaled the Three Peaks of Ben Nevis, Scafell Pike and Snowdon in June. The team

The European Parliament’s plenary session agreed, on 13 September, to grant Pakistan exceptional autonomous trade preferences for a two-year period in the aftermath of 2010 floods that affected the country. The trade preferences – which will be in the form of either an exemption from customs duties upon imports into the Union or tariff-rate quotas – concern 75 different product lines (mainly textiles and clothing). Amending the European Commission’s original 2010 proposal for a regulation, MEP

ISLAMABAD: More than 40 percent of the Pakistani textile industry and around 0.2 million power looms have shifted to Bangladesh in the last five years due to energy crisis in Pakistan and better incentives in Bangladesh, which has created serious employment related problems in the country. Discussion with the industry stakeholders, farmers’ representatives and officials of Textile Ministry revealed that only in Punjab over 200,000 families are directly or indirectly negatively affected. Mo

The diesel price hike of Rs 5 per litre initiated by the Indian government has received strong reaction from the ailing Indian textile industry. Mr. Dinakaran, Chairman of The Southern India Mills Association (SIMA) in a press release today has stated, "Diesel price hike of Rs 5 per litre in one stroke has come as a rude shock to the ailing textile industry." "The state of Tamil Nadu, which accounts for 47 percent of overall Indian yarn production, is already facing 50 percent power shorta

Gas supply to the textile industry has been reduced to four days a week against earlier arrangement of five days a week due to annual turnaround of Qadirpur Gas Field. Textile industry circles reported huge problem due to further reduction in gas supply schedule and termed it detrimental to the production capacity of the industry. The SNGPL sources said restriction of four days a week gas supply will continue until the end of next week, followed by resumption of five days a week gas supply per