Economy

Gap Inc. Appoints Ian Daniels to Lead Sourcing Operations

August 20, 2023

Gap Inc. is undergoing a strategic overhaul with the appointment of Ian Daniels as the new head of sourcing, set to take charge in October. With an extensive career spanning three decades, Daniels brings a wealth of expertise in supply chain management and global sourcing to the

Economy

World’s First Lab Cell Grown Cotton Seals $50mn Deal

Textile Insights August 9, 2023

Boston and USA based start-up Galy has signed a deal with Japanese manufacturer Suzuran Medical Inc. to use the startup’s cotton, which has been grown through laboratory cells, instead of plants in its products. This will be the first time that laboratory grown cotton will enter any market globally. Suzuran, which is one of the […]

Economy

7,000 Buyers From 84 Countries Visit Groz-Beckert ITMA Stall

Textile Insights July 7, 2023

At the recently concluded ITMA 2023, Groz-Beckert presented its innovations to more than 7,000 buyers who visited their stall and these visitors came from 84 countries, and which also includes over 280 students. The majority of visitors came from Italy with just under 15 percent, followed by Germany with 14 percent, Turkey with 11 percent, […]

Economy

Mahlo launches Orthopac RXVMC straightening concept at ITMA

June 12, 2023

German textile machinery manufacturer of automatic straightening machines and process control systems, Mahlo has launched the new Orthopac RXVMC straightening concept at ITMA 2023 in Hall 18, Stall C108. According to Mahlo, the system can remove distortions in textile fabric webs even faster and more precisely. Also on display is the Patcontrol PCS system for […]

Economy

BMSvision Focusing On Industry 4.0 & Smart Manufacturing At ITMA

Textile Insights June 12, 2023

BMSvision is exhibiting at ITMA 2023 with a focus on Industry 4.0 and smart textile manufacturing solutions in Hall 10, Stall B210. The Belgium based company will introduce the TEXconnect, a cloud-based platform offering a wide range of MES features for the entire textile manufacturing chain. Using the same reliable and proven BMSvision data collection […]

Economy

FinMin Predicts 7% GDP With Moderate Inflation In FY23

April 28, 2023

In the fiscal year 2022-23, India’s economy is expected to grow at 7 per cent while retail inflation would moderate despite global headwinds, said the Finance Ministry on Monday. It would be in line with wholesale inflation which fell to a 25-month low in January. India’s current account deficit is estimated to fall in FY23 […]

Economy

South Korea Economy Grows in Q1, Avoids Recession

April 27, 2023

South Korea’s economy grow in the first three months of this year, avoiding the country’s first technical recession since 2020. GDP increased 0.3% from the previous quarter in the January-March period, following a 0.4% contraction in the fourth quarter of last year. The average expectation from 16 economists polled by Reuters was for 0.2% quarterly […]

Economy

India Jumps 6 Places To Rank 38 In World Bank’s Logistics Performance Index 2023

April 26, 2023

India improves in the logistics ranking of the World Bank by jumping 6 places to Rank 38 out of 139 countries in the 7th edition of Logistics Performance Index (LPI 2023). India has been taking numerous initiatives since 2015 under the visionary leadership of the Prime Minister Narendra Modi to improve its logistics efficiency. The […]

Economy

Pakistan Economic Recovery Rests On Resuming Robust Reforms

April 23, 2023

Pakistan’s economic growth is expected to slow significantly in FY2023 (ends 30 June 2023) in the wake of last year’s devastating floods, ballooning inflation, a current account deficit, and an ongoing foreign exchange crisis, the Asian Development Bank (ADB) said in a report today. According to the Asian Development Outlook (ADO) April 2023, ADB’s flagship […]

Economy

The World Bank Raises Its Global Growth Forecast For 2023 On China’s Recovery

April 23, 2023

David Malpass, Group President of World Bank announced that, the lender has raised its global growth forecast for 2023 to 2 percent from 1.7 percent in January due to China’s rebound. According to Reuters, Malpass attributed the upward revision to an improved outlook after China adjusted its COVID-19 pandemic response, with growth in the country […]