India's total
textile exports in 2008-09 is expected to remain flat as compared
with the previous year, as a falling rupee has offset losses in
the first six months. According to Mr. J.N. Singh, Joint Secretary
in the Ministry of Textiles exports will be more or less in line
with last year's US$22-23 billion.
Looking forward, India's overall exports are likely
to stabilize by first quarter of 2009-10. According to Mr. G K Pillai,
trade and commerce secretary, the textiles sector was stabilizing
as many exporters have reportedly got orders for 60-90 days. This
is corroborated by Mr. D.K. Nair, secretary of the CITI that the
figures from textile mills suggest that there is a decline in the
rate of contraction, which means the declining trend seems to be
tapering off although there are no numbers to substantiate the recovery.
About
Egypt
Egypt is the world's 38th-largest country. In terms of land area,
it is approximately the same size as all of Central America, twice
the size of France, four times the size of UK and the combined size
of the US states of Texas and California.
Egypt is bordered by Libya to the west, Sudan to
the south, and by the Gaza Strip and Israel to the east. Egypt's
important role in geopolitics stems from its strategic position:
a transcontinental nation, it possesses a land bridge (the Isthmus
of Suez) between Africa and Asia, which in turn is traversed by
a navigable waterway (the Suez Canal) that connects the Mediterranean
Sea with the Indian Ocean via the Red Sea. Egypt is the most populated
country in the Middle East with an estimated 75 million people (as
of mid-2008). Almost all the population is concentrated along the
banks of the Nile (notably Cairo and Alexandria), in the Delta and
near the Suez Canal.
Crude oil
prices were a bit volatile in the first month of 2009. Having consistently
on a steep decline since August 2009 oil prices rebounded by one
per cent from their levels a month ago. However, they were half
their levels compared to a year ago. The WTI spot price averaged
US$ 42.07 per barrel, increasing by 1.4% as compared a month ago
level. Similarly, the European Brent at US$ 42 per barrel was up
0.8%. Far East Asian crude oil prices averaged US$ 44.61 per barrel.
Polyester Chain
Polyester intermediate prices firmed up in Asian markets during
January, with increases recorded in the range of 2-7% compared to
December numbers.They were largely supported by the rising upstream
prices Paraxylene and ethylene
