The Belt and Road Initiative would not only enhance trade and commerce ties among participating countries, but also further their relations diplomatically as well as culturally, said US experts. KraneShares, a US asset management firm that specialized in China-focus exchange traded funds, and China International Capital Corporation (CICC) hosted a summit regarding the Belt and Road Initiative at the New York Stock Exchange Tuesday. Experts were optimistic about the prospective of the Belt

A racism scandal at H&M is the latest indication of management problems at the Swedish clothing giant, once the darling of shoppers but now struggling to make the switch to e-commerce, analysts say. The fast-fashion group is one of Sweden's largest export brands and industrial heavyweights, alongside Ikea, Spotify, Electrolux and Volvo. Owned by the Persson family dynasty, it has been listed on the Stockholm stock exchange since 1974. It has collaborated with superstars like Beyoncé

Around 70% of the manufacturing cost of an apparel product is fabric and this cost can be reduced by around 10% by introducing new cutting technology. Bangladeshi apparel makers are introducing cutting edge software technology in a bid to upgrade production processes and reduce fabric waste by raising measurement accuracy. According to industry insiders and technical experts, around 70% of the total manufacturing cost of an apparel product is fabric. This single cost can be reduced

Bangladesh earned $14.56 billion, while the amount was $13.62 billion in the corresponding period last fiscal year Bangladesh’s export earnings rose by 6.86% to $14.56 billion in the first five months of the current fiscal year, with the RMG sector being the largest contributor to this growth. Industry insiders attributed the increase in export earnings to initiatives undertaken to improve workers’ safety standards in garment factories. They said the measures appreciably helped restore

The Kashmiri Carpets is offering carpets made of woollen products, synthetic, silk and cotton-based products, the price of them ranging from Tk6,500 to more than Tk1 lakh Dhanmondi’s 44-year-old Rasheda Chowdhury went to Dhaka International Trade Fair (DITF) on Thursday to buy a carpet. She has been a regular visitor at the fair for the last ten years and every year she buys at least one carpet to redecorate her home. While talking to Dhaka Tribune she said as foreign sellers got more c

Indonesia's textile exports rose by 5 per cent on a year-on-year basis in 2017 after being stagnant in the 2012-2016 period despite a decline in global textile demand in the year, according to the Indonesian Textile Association (API). Exports to the United States and Japan fell by 2 per cent each in 2017, while to the European Union (EU) fell by 3 per cent. These declines were offset by rising textile demand in Southeast Asia and the Middle East, API chairman Ade Sudrajat said while disclosi

Malawi government should invest $4.8 million (about K3.5 billion) into cotton farming to revive the industry which is at the verge of collapsing, African Institute of Corporate Citizenship (AICC) has said. There has been a decline in cotton production which is worrisome because cotton remains among the best forex earners which can replace tobacco. AICC Chief Executive Officer Felix Lombe said that Malawi’s cotton production has gone down from 100,000 metric tonnes in 2012 to around 15,000 in

Brazil’s cotton output in the 2016-17 season increased 18.6 per cent year-on-year to 1.529 million tons, pushed up by the 20.6 per cent increase in the average productivity, since area under the crop decreased 1.7 per cent to 939,100 hectares. The weather favoured crop development during the growing season, but hampered the harvesting season. Domestic textile consumption increased by 5 per cent to 690,000 in the 2016-17 season, due to the recovery of textile companies, according to data from

At the Karachi Cotton Exchange on Wednesday, trading continued to remain slow while spot rates increased Rs200/maund to Rs7,800/maund (37.324kg) and Rs8,359/40kg. Ex-Karachi rates also rose to Rs7,945/maund and Rs8,514/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. A total of eight transactions were recorded of around 13,000 bales at a price of Rs8,000 to Rs8,100/maund. Deals were recorded from Ghotki, Kot Sabzal, Liaquatpur, Khanpur, Rahimyar Khan, Mian Channu

Egypt’s home textiles exports increased 4.8 percent reaching $664 million in January-November 2017 period against $443 million registered in the same period last year, according to the Egyptian Home Textiles Export Council (HTEC), under the ministry of foreign trade and industry. Turkey was the largest importer of Egyptian textiles, followed by Italy, Saudi Arabia, Tunisia, Germany and Portugal. Meanwhile, exports by Egypt’s Textile Export Council increased by 3 percent between January and Oc