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Related Keywords: dumping yarn into Punjab, E-Trip system, increase tax revenue, losing out, other states, Punjab Spinners Association, Punjab Yarn Dealers Association, Punjab yarn industry, reducing VAT on yarn, to cheap yarn

Punjab yarn industry are losing out to cheap yarn coming from other states, making a serious dent on their business volume. After state government rolled back controversial E-Trip system, yarn makers in the state have now pitched for reducing VAT on yarn in order to compete with the commodity from other states.

Punjab levies 6.6 per cent VAT on yarn while some states like Gujarat, Uttar Pradesh, Rajasthan do not impose any tax on it, resulting into “dumping” of yarn into Punjab.

Related Keywords: cotton inventories, cotton trading, Karachi Cotton Association, mill owners, new sales order, Pakistan cotton market, regular production operation going, resumed buying, spot rate, witnessed improvement

Pakistan cotton market witnessed improvement in the trade of cotton to 4,349 bales as the mill owners were back to the local markets purchasing cotton to keep their regular production operations going.

In fact, the mill owners resumed buying when their cotton inventories reduce next to nil, or they receive new sales orders.

According to the Karachi Cotton Association (KCA), traders bought a total of 4,349 bales at Rs3,450 to Rs4,950/maund (37.324 kilograms)as compared to 2,200 bales bought at Rs4,950/maund a day ago.

Related Keywords: apparel market, capital investment, Cincinnati based, expansion plan, global provider of end to end solution, institutional textile, Standard Textile Co. Inc., Union facility, vertically integrated company

Standard Textile Co. Inc. based in Cincinnati is a vertically integrated company and a leading global provider of end-to-end solutions for the institutional textile and apparel markets as part of its expansion plan has recently announced capital investment of $5 million to expand its Union, S.C., facility by 39,000 square feet.

The expansion will add additional terry towel finishing capacity, as well as bring opportunities and allow new partnerships for the company’s yarn spinning, yarn preparation and weaving processes. The expansion will lead to creating thirty-five new jobs.

Related Keywords: acquired assets, American made textile products, art manufacturer of jacquard textile, at Dicey facility, creative design studio, Dicey, needle loom, right to manufacture, source of innovative textiles, transition services agreement, Valdese weavers, vertical textile mill, yarn manufacturing machine

Valdese Weavers is both a creative design studio and a state of the art manufacturer of jacquard textiles located in the Blue Ridge Mountains of North Carolina has acquired the assets of Dicey a vertical textile mill located in Shelby, North Carolina with five generations of experience producing quality American made textile products, Dicey is the new but established source of innovative textiles.

Related Keywords: accessories, Argar Srl, Argar Technology, cotton, ennobled in Italy, external face of fabric, high visibility property, internal face of fabric, kniited fabrics, manufacture in Italy, new range of protective knitted fabrics, polyester, protection garment, research and development, safety workwear

Argar Srl manufacture in Italy knitted fabrics and accessories addressed to the production of individual protection garments for professional, technical and sports purposes. Its technology specializing in research and development has developed Tes-firESD-HV, a new range of protective knitted fabrics featuring intrinsic flame retardant, antistatic, arc flash protection functional specification, with an addition of High Visibility property.

Related Keywords: additional import duty, export earning, government proposal, having integrated units, import duty on cotton yarn, increase cost of doiing business, Pakistan Apparel Forum, Pakistan value added textile sector, Spinners

Pakistan already has 5 percent import duty on import of cotton yarn with the government’s proposal of additional import duty the value added textile sector will be unable to import cotton yarn from India, as it will greatly increase their cost of doing business.

Textile value added sector flayed government’s proposal imposing additional duty on import of cotton yarn from India.

Related Keywords: accessories, build its own textile industry, costly power, duty free entry, EU GSP plus, garment should have local content, import of raw material, inputs, lack of local textile industry, Philippines textile industry, relaxation of rules, temporarily export, textile export

Philippine’s inclusion in the EU’s GSP plus provides duty free entry to the EU for some of the most important Philippine exports, including and textiles has come as a gift but there are rules of origin for exports to enter duty free which is preventing the country from enjoying the expanded preferential treatment on exports to the European Union due to absence of local textile industry.

Related Keywords: boost bilateral trades, business propects, fastest growing economy, furniture garment and textile, largest economy of Africa, Nigeria, PCCI, Philippine, produce robust bilateral trade

Philippines and Nigeria need to explore several opportunities to produce robust bilateral trade. Nigeria, being Africa’s largest economy and Philippines , second only to China and Southeast Asia’s fastest-growing economy, they need to strengthen ties to boost bilateral trades and explore business prospects, Chairman Miguel B. Varela of Philippine Chamber of Commerce and Industry (PCCI) said during the hosting of Nigerian and Philippine companies by the PCCI in Taguig City on Monday.

Related Keywords: Chinese companies, Chinese textile group, dominate overseas investment, expansion plan, fashionable clothing, manufacturer and exports, Ningbo Shantex Co Ltd, takeover deals in Europe, textile accessories, United Kingdom based apparel chain

The international business news is once again dominated by Chinese companies' overseas investment and expansion plans. Chinese textiles group Ningbo Shantex Co Ltd which manufactures and exports textile accessories likely to make a takeover bid for United Kingdom-based apparel chain Phase Eight.

Shantex is already in preliminary talks with Towerbrook, a private equity company that bought Phase Eight in 2011. Phase Eight was established in 1979 by Patsy Seddon in London to offer fashionable clothing to sophisticated young suburban mothers.

Related Keywords: interest to invest, Kenya, Kenyan textile and apparel sector, LC Waikiki, leading shopping malls, manufacturing hub, operates across globe, Special Economic Zones, Turkey based clothing firm, world class investment location

LC Waikiki, Turkey based clothing firm that operates in over 20 countries across the globe, has expressed its interest to invest in Kenyan textile and apparel sector as it offers a world class investment location with competitive advantage to boost Nairobi’s efforts to grow the textile and apparel sector.

The company is in discussion with leading shopping malls, namely, The Junction, Two Rivers and Garden City, in a bid to acquire retail shops. Kenya is on the charm offensive to win big in the textile sector.