International

China’s marine freight transit and fixed waterway asset investment is increasing

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According to the 2022 China Shipping Development Report released by the Ministry of Transport on the country’s 19th National Maritime Day yesterday, China accelerated the construction of major water transport infrastructure last year, with investment in fixed waterway assets increasing by 10.9 percent from 2021. The number of goods delivered by rivers grew by 3.8% …

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The Australian wool market is seeing robust growth despite decreasing supplies

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The volatility of the Australian wool auction markets was exposed this week, although to the favor of sellers, in a surprising turn of events. Significant price rises were recorded across the whole merino fleece and skirting industry, with some individual auction lots witnessing price increases of up to, and in some cases exceeding, 100 Australian …

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Philexport advocates for the implementation of the PEDP to safeguard the clothing industry

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The Philippine Exporters Confederation Inc (Philexport) recently urged the government and private sector to work together to immediately implement the strategies outlined in the Philippine Export Development Plan (PEDP) 2023-2028 to save the domestic apparel industry in the face of global reshoring or onshoring. In a statement, Philexport trustee for the textile, yarn, and fabric …

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This month, India and Bangladesh will begin trading in rupees

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Bangladesh and India will begin trading in rupees this month, with their central banks making all necessary preparations. Beginning July 11, exporters in Bangladesh will receive export revenues in rupees, with an equal amount used to satisfy import bills. Taka trading will be introduced later. The move follows the Reserve Bank of India’s decision last …

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The fall edition of Intertextile Shanghai 2023 is expected to include around 1000 exhibitors

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Following a successful Spring Edition of Intertextile Shanghai Home Textiles earlier this year, worldwide industry leaders are looking forward to the next international exhibition in August 2023. The three-day show will attract roughly 1,000 foreign and local exhibitors as the first Autumn Edition to be conducted in the aftermath of China easing many of its …

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Mayer & Cie’s solutions at ITMA 2023 receive an excellent response

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Mayer & Cie of Germany displayed a wide range of solutions at ITMA 2023, ranging from circular knitting machines and braiders to upgrades and digital solutions, to a favorable reception from visitors. The long-established corporation is optimistic that its complete (digital) strategy will allow it to preserve and extend its market leadership. Three circular knitting …

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The World Bank has approved $1.5 billion to support India’s low-carbon transformation

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The World Bank has granted $1.5 billion in financing to help India speed up its low-carbon energy growth by increasing renewable energy, creating green hydrogen, and encouraging climate finance for low-carbon energy initiatives. The International Bank for Reconstruction and Development (IBRD) loan of $1.44 billion is supported by a $1 billion UK guarantee targeted at …

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In the period January to May 2023, China’s port activity rise rapidly

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During the first five months of 2023, China’s port activity increased significantly. According to figures supplied by the country’s Ministry of Transport, container throughput at Chinese ports increased by 4.8% year on year (YoY), with a total of 122.07 million twenty-foot equivalent units handled. Furthermore, the ministry indicated that cargo throughput was on the rise, …

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With the launch of the new DCTS, UK and Philippines unleash new trade opportunities

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In Manila, Philippines, the UK government inaugurated the Developing Countries Trading Scheme (DCTS). The initiative was developed in response to a record £2.4 billion in commerce between the Philippines and the United Kingdom in 2022. The DCTS provides significant duty savings on a wide range of high-value items exported from the Philippines to the United …

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