Nayab Islam

New technology will be introduced by Radar at American Eagle shops

New technology will be introduced by Radar at American Eagle shops

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American Eagle Outfitters (AEO) plans to roll out Radar’s inventory-tracking technology in about 500 American Eagle stores across the US over the course of the following year, according to the company’s announcement. Radar is a technology platform that equips brand teams with the inventory knowledge they need to improve the in-store customer experience. Retail store …

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Tamil Nadu, India, announces plans to develop a textile metropolis close to Chennai

Tamil Nadu, India, announces plans to develop a textile metropolis close to Chennai

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According to Tamil Nadu’s minister of handlooms and textiles, R Gandhi, the Indian state of Tamil Nadu has declared intentions to develop a textile metropolis close to Chennai. The announcement was made during his presentation of a Handlooms, Handicrafts, Textiles, and Khadi Policy Note before the state assembly. To expand market prospects and strengthen the …

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Industrialists want the goods containers to be released earlier

Industrialists want the goods containers to be released earlier

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FPCCI requests in writing that the central bank call an urgent meeting to find a solution. Karachi: The government is under increasing pressure to free the containers full of industrial raw materials and other items that have been sitting at ports for months as they wait to be cleared. In a letter to the State …

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Despite a tariff rise, circular debt soars to Rs2.6 trillion

Despite a tariff rise, circular debt soars to Rs2.6 trillion

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ISLAMABAD: Despite dramatically higher energy rates last year, the coalition government increased the circular debt in the power sector by a net Rs419 billion over the first eight months of the current fiscal year, bringing the overall circular debt to Rs2.67 trillion. According to sources in the Ministries of Finance and Energy, on average, the …

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H&M Move from Sweden collaborates with LanzaTech on garments with carbon capture

H&M Move from Sweden collaborates with LanzaTech on garments with carbon capture

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Swedish clothing company H&M Move has teamed up with carbon capture firm LanzaTech to produce clothing that is made partially from emissions that have been captured and infused with the company’s own DryMove technology, a patented material that wicks moisture away from the skin to keep Movers dry and comfortable while they move. The three-piece …

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The proposed EAC sectoral council tax would impact Kenya's textile industry

The proposed EAC sectoral council tax would impact Kenya’s textile industry

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A proposal by the East African Community’s (EAC) sectoral committee on trade to increase local production by increasing the tax paid on imported clothing to the highest band will harm Kenya’s textile industry. The council requests that the standard external tariff (CET) levy on textiles be adjusted to the highest band under the EAC, 35 …

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Anti-export legislation reducing exports

Anti-export legislation reducing exports: LCCI

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The Lahore Chamber of Commerce & Industry says that the recent adoption of anti-export policies by the State Bank of Pakistan (SBP) poses a danger to at least halving the nation’s exports from their potential level (LCCI). The SBP’s assertions that exporters are storing money overseas are wholly untrue, according to LCCI President Kashif Anwar, …

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Peshawar: A group of businesspeople from Pakistan and Afghanistan has voiced their worries about the barriers preventing the expansion of bilateral commerce between the two neighbors. The participants at a conference held at the Torkham crossing engaged in a thorough discussion about the effectiveness of different public sector institutions and the challenges faced by the business community on both sides of the Pakistani-Afghan border. Fayyaz Anwar, the freshly appointed Chief Collector of Customs for Khyber-Pakhtunkhwa, presided over the meeting. The guests, together with other top officials from the customs, NLC, FC, police, and other security departments, proposed various solutions to remove the barriers preventing Pak-Afghan bilateral commerce. Several important topics were covered in the discussion as well. The PAJCCI's coordinator and director, Ziaul Haq Sarhadi, underlined the importance of taking action to remove obstacles to transit and mutual commerce between Pakistan and Afghanistan. He clarified that while the customs agent at the Torkham, Ghulam Khan, Kharlachi border had no problems, other institutions took a long time to inspect. According to Sarhadi, this sluggish processing has created significant issues for the business community. Sarhadi said that each container had been assessed a detention fee in addition to the official instructions for cross-stuffing that had not been carried out. According to the FCCA president, transit trade products from Karachi to Torkham should be transported via Pakistan Railways and a bonded carrier service. For the customs clearance agents of K-P to continue operating, he pleaded with the relevant authorities to permit the filing of GD (Goods Documents) at Azakhel Dry Port.

Businesspeople want the trade hurdles in Kabul removed

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Peshawar: A group of businesspeople from Pakistan and Afghanistan has voiced their worries about the barriers preventing the expansion of bilateral commerce between the two neighbors. The participants at a conference held at the Torkham crossing engaged in a thorough discussion about the effectiveness of different public sector institutions and the challenges faced by the …

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Cotton yarn spinners in India would become more profitable in FY24, according to CRISIL

Cotton yarn spinners in India would become more profitable in FY24, according to CRISIL

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Notwithstanding a predicted 10-12% on-year decline in revenue due to reduced realizations and subdued exports, India’s cotton yarn spinners are likely to have a 100-basis point improvement in operational profitability to 11–12% in fiscal 2024 (FY24). The operating profitability will still fall short of the pre-pandemic five-year average of 12–13%, but it will increase in …

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Techtextil and Texprocess from April 23-26, 2024- its strategy is to focus on sustainable solutions

Techtextil and Texprocess from April 23-26, 2024- its strategy is to focus on sustainable solutions

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The preparations for Techtextil and Texprocess, which will take place from April 23–26, 2024, are going well. Around 40 different nations have already registered exhibitors to participate. Exhibitors that have chosen not to take part in 2022 are also included. Future-focused solutions for the textile sector will be presented at the next trade show editions, …

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