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The International Modest Fashion Week a two day event opened on Friday in Istanbul hosted by Modanisa, online retailers of Muslim fashion, as Turkey wants to be seen as a creative hot spot for conservative wear around the world. Seventy designers are taking part in the event.

Modanisa CEO Kerim Ture said that they want to create mainstream fashion out of modest fashion and to energize Islamic communities to produce (clothing) for Muslim women. They want to have their rules but they also want to look chic.

Related Keywords: Bolt Threads, California based startup, developed way to make spider silk, Engineered Silk, five times stronger than steel, high performance materials, lead charge in sustainable textile production, make cleaner textile, other insect fibers, raised funds, secured deals with lifestyle brand Patagonia, spin fiber into yarn, wet spinning process

California-based startup Bolt Threads to lead the charge in sustainable textile production has developed a way to make spider silk and other insect fibers and spin them into yarn. In the process, the company has raised $50 million and secured a deal with lifestyle brand Patagonia.

Related Keywords: burdened due to high tariff, cost of making garments, enhance exports, exports in form of finished products, finished textile goods are the only viable solution, Pakistan is almost double, PRGMEA, recommends zero rated regime, utilize raw materials

In order to enhance exports, the Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) recommends announcement of zero-rated regime by the prime minister; release of stuck up refund payments against sales tax, duty drawback and drawback on local taxes and levies (DLTL); No payment no refund system; tariff of electricity, gas and water for export sectors should be brought down; and incentives on exports as per the competitors countries.

According to the association, finished textile goods are the only viable solution to boost the country’s exports.

Related Keywords: average price, busy in short covering, buying confined to premium quality lint, cotton bales, demand for yarn and textiles starts picking up momentum, Karachi Cotton Association, official spot rate unchanged, Pakistan cotton market, prices maintained upward trend, rise in demand, spinning mills, Textile Industry

Due to rise in the demand from the textile industry, the cotton market maintained an upward trend on Saturday with most of the buying confined to premium quality lint at Rs6,000/maund, dealers said.

According to cotton dealers, around 6,400 bales of cotton by different traders in Sindh and Punjab were finalised at an average price of Rs5,500/maund. However, the low quality cotton was being traded somewhere around Rs4,000/maund.

Spinning mills seem busy in short covering, as demand for yarn and textiles starts picking up momentum.

In Qianqing, PC (65/35) 32s and 45s yarn prices in the first week of May were both down US cent 1 a kg due to weak Yuan.

Blended yarn markets in China were slowly returning to profits after experiencing serious crisis in the past. Cotton prices were moving up in the past two weeks, while PSF and VSF prices were moderating.

In India, polyester-cotton prices increased during the week and posted 5.6% increase over the month as cotton prices rose and polyester and viscose continuing their firmness.

Related Keywords: pc yarn prices, Polyester prices, prices, psf prices, pv yarn prices, rayon prices, yarn prices

In China, prices of 40s compact sirospun yarn in Jiangsu fell US cents 5 a kg in the first week of May while 30s spun viscose in Xiaoshan were also down US cents 5 on the week. Offers for ring-spun 30s yarn were down US cents 3.

Spun viscose yarn offers were unchanged amid flat sales in China. Market prices were stable to weak as upstream VSF prices remained subdued over past few weeks, although lesser that week. Discussions for ring‐spun 30s yarn were flat.

Related Keywords: rayon prices, spun yarn prices, Viscose price, viscose price in china, viscose price in india, viscose price in Pakistan, viscose staple fibre price

Related Keywords: African Union commission, announce Koreas policy towards Ethiopia and Africa, Ethiopian textile industry, host Korea-Africa Forum, keen to invest in the industrial sector, Korean companies, Korean textile company, make state visit to Ethiopia, operating textile factory, Park Geun hye, South Korean President, through bilateral summit

As Korean companies are keen to invest in the industrial sector of Ethiopia, South Korean President Park Geun-hye has decided to make a State Visit to Ethiopia and the African Union (AU) commission from May 25 to 28, 2016, said the Korean Ambassador.

Ethiopia, the second most populous country in Africa and a leader in the East African region, Korean belief that their cooperation with this country is very crucial, not only bilaterally but also multilaterally, noted the Ambassador.

Related Keywords: collect reduced levy on textile product, Federal Board of Revenue, five export-oriented sectors includes textile, government may double sales tax, keep the tax rate at zero, on domestic sale of textile, proposal for approval to increase sales tax, textile lobby seeking complete exemption from taxes, textile ministry fiercely opposes FBRs move

The proposal to be presented to Prime Minister Nawaz Sharif for approval to increase the sales tax on textile, leather, carpets, sports goods and surgical goods was part of the tax measures for new financial year 2016-17. Currently, domestic sales of these five export-oriented sectors are taxed at reduced rates, but the textile lobby is seeking complete exemption from taxes on the grounds that the Federal Board of Revenue (FBR) is not timely paying their tax refunds.

Related Keywords: Bangladesh garment industry, behind export target reach, BGMEA, concern over drop in productivities, cut in price of its product, demand halving tax at source, devaluation of US dollars, facing myriad challenges of gas and power crisis, high interest rate of bank loans, largest trade association, may close garment factories, no value added tax

Bangladesh Garment Manufacturers and Exporters Associations (BGMEA) one of the largest trade associations in the country, representing the readymade garment industry expressed concern over the drop in productivities due to various reason as a result in past three years 618 factories shut down.

President Siddiqur Rahman yesterday said that Bangladeshs garment industry was facing myriad challenges of gas and power crisis, high interest rate of bank loans, devaluation of US dollars and cut in price of its product.

Related Keywords: bilateral trade, initiate business interaction, large audience of members of Kazakh Chambers and businessmen, largely appreciated by visiting participants, opens at Almaty Kazakhstan, Pakistan Trade Caravan, revive ancient trade legacy, TDAP, textile companies displayed products

In order to increase interaction between people and trust between businessmen of two countries, Pakistan and Kazakhstan, Trade Development Authority of Pakistan (TDAP) initiated the concept of Pakistan Trade Caravan, which opened at Almaty Kazakhstan on Friday which was largely appreciated by visiting participants.

Some 45 companies in textile, agro foods, herbal, pharmaceutical and handicrafts displayed their products to a large audience of members of Kazakh Chambers and businessmen.