European shares fell for a third consecutive session on Tuesday as weak German data and a gloomy update from luxury group LVMH, which raised concerns amongst those companies posting results this week. Burberry also had the industry talking, ahead of its trading update to be released Wednesday. Luxury goods companies traded low and fell 1.6 percent after LVMH's first-quarter update dented sentiment in the sector, reported Reuters. The French giant's shares dropped 3.8 percent and dragged Burberr

Burberry reported second half trading update for the six months to March 31, 2013, for the financial year 2013-14. Retail sales, which accounted for 75 percent of total revenue in the second half, grew by 13 percent on an underlying and reported basis. Comparable store sales grew by 7 percent led by Asia Pacific. Europe, Burberry’s largest wholesale region, saw further planned account rationalisation and weakness in local demand, leading to a double-digit percentage decline in revenue. In the s

The Minister of Labour has extended the 2012/2013 clothing industry bargaining council wage agreement to non-party companies. The extension was gazetted on Friday 12 April 2013. The agreement was signed in early October last year, after negotiations between the Southern African Clothing & Textile Workers’ Union (SACTWU) and seven clothing employers’ organisations represented on the National Bargaining Council For The Clothing Manufacturing Industry (NBC). The gazetted extension of t

Bangladesh's apparel exports to the major markets like the EU and US were able to maintain its growth in the first nine months of the current fiscal up to March this year despite political violence specially hartals hitting hard production and shipment, sources said. Intermittent hartals plus weekend and national holidays led the industries to suffer partial production and shipment losses for 24 days during the month of March and during April ten out of the first 15 days also suffered losses

Garment businesses are not yet taking full advantage of the country’s political stability, incentive policies, low labour costs and long working hours that allow them to fill their orders quickly. They also need to clarify the reasons foreign partners chose to order their goods from Vietnam. The remarks were made by experts at a recent workshop in Ho Chi Minh City on the competitiveness of the Vietnamese garment industry, held jointly by the Vietnam National Textile and Garment Group (Vinatex)

Europe, the Mediterranean and the United States will ship about 1 million tonnes of naphtha to Asia next month, similar to volumes that have been running more than 60 percent higher than 2012's monthly average since January, Reuters data showed. That volume is about double Asia's structural shortage of the 500,000 tonnes of paraffinic naphtha it needs every month if crackers are running at full-tilt and other feedstocks such as liquefied petroleum gas (LPG) are not available. Unlike in the pr

In March the 25th, the Ministry of finance, the Ministry of industry and information technology, the General Administration of customs and the State Administration of Taxation jointly issued ?° Notice of the adjustment on major technical equipment of import tax policy?±. Dyeing machine, key parts and components, and some necessary raw materials was allowed to be imported exempt from customs duties and import value-added tax since April the1st. Including bath ratio ?? 1:4.5 high temperature and

Increased buying by mills lifted daily-intake on the cotton market on Monday, this was a visible change after a long time, dealers said. The official spot rate was inert at Rs 6,800, they said. Rates of seed cotton in Sindh were unchanged at Rs 1800 and Rs 2400, while in Punjab prices showed no change at Rs 1800 and Rs 2500, they said. In the ready business, 5,000 bales of cotton changed hands between Rs 5,900 and Rs 6,900, they said. Some experts were of the view that depleting unsold stock pr

Sweden-based Eton Systems, the pioneer of Unit Production Hanger Systems, has launched new solutions to offer high-end technologies to achieve higher productivity and quality improvements in apparel- and textile manufacturing. One is the new touch screen terminal application. The second news is the Eton Standard Apparel Concept – a new, improved, light system developed uniquely for high volume production. “The Eton Systems Concept is a great production tool to streamline your production proce

To boost the apparel and garment industry, Threadsol Softwares has developed a revolutionary product ‘intelloCut’, a material planning and optimization software for all sewn products industry (apparel / leather / inflatable / upholstery / footwear / home furnishing manufacturers/ technical textile). intelloCut measures, predicts and optimizes material utilization and productivity. It not only saves material, time and labor, but contributes hugely towards greener environment. It makes the indu