Influenced with the recent international trend, the rates of cotton maintained upward journey on the local market on Wednesday, dealers said. The official spot rate extended overnight gains picking up Rs 50 to Rs 4,950, dealers said. In the ready session, over 20,000 bales of cotton changed hands between Rs 4650 and Rs 5275, they said. The seed cotton rate in Sindh at Rs 1800 and Rs 2350, in the Punjab prices were higher by Rs 200 to Rs 2200 and Rs 2600, they said. Some leading exporters and

The proposed signing of the EU-India free trade agreement and Vietnam's joining the Trans Pacific Partnership are unlikely to have any negative impact on Bangladesh's garment exports, trade analysts said yesterday. At present, India and Vietnam are no challengers to Bangladesh in garment trade, Zillul Hye Razi, trade adviser of the European Union, said. The two countries operate close to the high-end segment of the market, while Bangladesh mostly occupies the low end of the spectrum. Besid

Pakistan’s ministry of textile industry has announced the long-awaited Textile Policy 2014-19, which sets annual exports target of US$ 26 billion by 2019. “The annual exports target of $26 billion by 2019 is ambitious but not beyond our potential,” minister for textile industry Abbas Khan Afridi said while addressing a press conference. Budgetary support, drawback of local taxes and levies, easy finance, sales tax regime, duty free import of machinery, policy interventions, tariff rational

Egyptian cotton, the so-called “white gold” a byword for luxury that is prominent the world over and also the former core of Egypt’s economy and the source of many a trader’s fortune has been declining for years due to changing government policy, a shrinking domestic market and the vagaries of international cotton prices. The Egyptian government has taken decision to end a subsidy to cotton growers introduced only last year. The subsidy worth about $200 per feddan, an area slightly above an

Permira Holdings Ltd. has cut its stake in Hugo Boss AG below 14 percent, boosting the clothier’s free float in a move that may make it more attractive to institutional investors, reports Bloomberg. Still the largest stakeholder at the German upscale fashion brand, Permira, said on Monday it would sell at least 7.35 million shares. This is the fifth time the private equity group has reduced its stake in the past two years. Previous time Permira sold some stock from Hugo Boss was in Decem

Cambodia’s garment exports rose some 4 percent year-on-year in 2014 to $5.75 billion, far less than the 20 percent jump in garment exports the previous year, but defying the most pessimistic predictions that exports might actually shrink. The slowdown in one of the country’s main economic drivers may have a significant impact on overall growth. The industry employs some 600,000 workers, accounts for 80 percent of Cambodia’s total exports and contributes a third of gross domestic product.

A Bangladesh Cotton Association web site photo shows farmers plucking cotton at a field. About 80,000 cotton growers in the country are set to incur losses by selling their produce at lower prices during the current season, said agriculture ministry officials. About 80,000 cotton growers in the country are set to incur losses by selling their produce at lower prices during the current season, said agriculture ministry officials. Cotton growers said that they had counted huge losses due to

Vietnam is likely to overtake Bangladesh in the global apparel export market share in next 10 years once the Trans Pacific Partnership (TPP) takes shape, according to a new study. The TPP is a proposed freed trade agreement, US-led trade pact involving 12 countries – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam that collectively account for 40% of the world GDP. It is currently under negotiation and is likely to take effect in 201

Textile industry stakeholders are not optimistic about the textile policy (2014-19) export target of $26 billion. Talking to Business Recorder, the private sector stakeholders said the government has failed to ensure uninterrupted supply of utilities including power and gas under the new policy. The industry is currently operating at 60 percent capacity. Stakeholders urged the authorities to review the policy and prioritise the export sector with respect to the provision of utilities as well a

Fisher Textiles has launched a new range of fabrics for yoga pants, ET 3000 Yoga, made with Repreve recycled yarns, which are produced from recycled plastic bottles. “With a soft hand and adequate stretch, it makes an excellent material for customised yoga pants,” Fisher Textiles said. Compatible with dye sublimation printing, this fabric is inherently treated with Sorbtek, Unifi's moisture management system which allows perspiration to move away from the body and dries quickly.According t