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Textile Units Await Debt Recast Plan Implementation.

By   /  July 9, 2012  /  Other Textile News  /  No Comments

High interest rates almost nullified the benefits of the Technology Upgradation Fund Scheme India – The Union Government’s approval of a debt restructuring package for the textile sector last month brought hopes of revival to the ailing units across the textile value chain. However, one month since then, many textile mills, garment and processing units […]

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Textile Industry Urges Support For Manufacturers.

By   /  July 9, 2012  /  Yarn & Fibre  /  No Comments

New Zealand – The textiles industry is calling on the Government to pay more heed to the plight of manufacturers following the announcement that an Auckland wool processing plant will close. Norman Ellison Carpets is closing its spinning plant at Onehunga in South Auckland at the end of July, affecting the jobs of 85 workers. […]

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Textile Export Industry Rejects More Cut in Weekly Gas Supply.

By   /  July 9, 2012  /  Other Textile News  /  No Comments

Pakistan – Textile export industry has rejected additional one day cut in weekly gas supply to industries and termed it as industrial closure plan and urged the government to shelve the new gas load shedding plan for the sake of economy that is already facing multiple challenges. This would not only hamper the industrial growth […]

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Apparel Makers Urge Govt to Review BB’s Directives.

By   /  July 9, 2012  /  Apparel & Fashion  /  No Comments

Bangladesh – Garment makers demanded for keeping the apparel sector out of the central bank’s new rules for loan classification, rescheduling and provisioning as the country’s highest foreign currency earning sector is passing through a critical time. Bangladesh Bank issued two circulars on the rules of loan classification, rescheduling and provisioning on June 14 stating […]

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Kayaking Gear with INVISTA’s LYCRA® SPORT Fabric Launches in India.

By   /  July 9, 2012  /  Fabric, Yarn & Fibre  /  No Comments

Range created by Push Sportswear and retailed through Adventure Compass New Dehli , India – INVISTA, a world leader in integrated fibers and polymers, has been working actively with many domestic brands in the active wear segment. Push Sportswear launched a kayaking range with INVISTA’s leading performance-wear brand, LYCRA® SPORT fabric. The range is available through Adventure […]

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Chairman AEPC Compliments RBI Governor for Enhancing The Limit of ECR.

By   /  July 9, 2012  /  Apparel & Fashion  /  No Comments

Haryana, India – Dr A Sakthivel, Chairman, Apparel Export Promotion Council complimented Dr D Subbarao, Governor, Reserve Bank of India for enhancing the eligible limit of the Export Credit Refinance (ECR) facility from 15 per cent of the outstanding export credit eligible for refinance to 50 per cent. However, the industry was expecting in rate […]

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JG Summit`s $800m Naptha Cracker Plant To Start By 2014.

By   /  July 9, 2012  /  Chemicals & Dyes  /  No Comments

Manila, Philippines – JG Summit Holdings, Inc., the investment vehicle of taipan John Gokongwei, said it expects its naphtha cracker plant – the first in the country – to contribute between $800 million to$1 billion to groupwide revenues when it starts its first full year operations. In a briefing following the company’s annual stockholders meeting, […]

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Cotton Farmers Urged to Use GM Seeds.

By   /  July 9, 2012  /  Cotton News  /  No Comments

Gokwe, Zimbabwe – Finance minister Tendai Biti told cotton farmers to use genetically-modified seeds and adopt biotechnology mechanisation to ensure their crops meet international standards. Addressing farmers at Chitekete business centre in Gokwe North , Biti said: “We have a lot to learn from other countries like India that have become competitive through the introduction […]

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World Bank Provides US$90 Million Grant to Increase Cotton Exports, Mining Revenues and Food Reserves in Burkina Faso.

By   /  July 9, 2012  /  Cotton News, Other Textile News  /  No Comments

Washington, USA – The World Bank today approved an International Development Association (IDA) US$90 million grant which aims to increase cotton exports to more than 400,000 tons, mining revenues from 1.8 percent of GDP in 2011 to 3 percent of Gross Domestic Product (GDP); and food reserves to 70,000 tons in Burkina Faso, the multilateral […]

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US Suffers Record Cancellation of Cotton Exports.

By   /  July 9, 2012  /  Cotton News  /  No Comments

USA – The US cotton market rang up the latest in a series of records when China walked away from orders for 600,000 running bales of the fibre, leaving merchants with their worst week for cancellations since at least the 1980s. The US chalked up net export sales cancellations of 602,100 running bales for 2011-12 […]

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