Category: General

25 MAY

Gokaldas consolidated revenues breach Rs 10 bn barrier

Gokaldas consolidated revenues breach Rs 10 bn barrier
Myiris.com, India

Gokaldas Exports, India`s largest manufacturer of readymade fashion garments, became the first ever Indian apparel company to cross the Rs 10 billion revenue mark. The company`s consolidated revenues for the year ended Mar. 31, 2014 climbed 16.5% year on year to Rs 10,449.60 billion, from Rs 8,973.60 million last year.

Due to higher realization and greater cost reduction efforts, the consolidated profit after tax (PAT) for the year rose 15.7% to Rs 705.3 million from Rs 609.7 million last year. Read more about Gokaldas consolidated revenues breach Rs 10 bn barrier …

24 MAY

India blamed for Bangla garment workers' stir

India blamed for Bangla garment workers’ stir
NewKerala.com, India

Dhaka: Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders have termed the current violence at their factories as “part of a conspiracy by a neighbouring country.”

One person was killed and 100 were injured, 250 garment factories set ablaze and scores ransacked in the spate of violence, mainly in the export processing zone (EPZ) at Savar on the outskirts of Dhaka. Read more about India blamed for Bangla garment workers' stir …

24 MAY

Vietnam targets to double garment export turnover in 2014

Vietnam targets to double garment export turnover in 2014
People’s Daily Online, China

Vietnam has eyed garment export revenues of 13-15 billion U.S. dollars in 2014, up from targeted 7 billion dollars in 2014, according to the Vietnam Textile and Apparel Association (Vitas) on Wednesday.

To achieve the target, local garment and textile producers are increasing the local content to 50 percent and the added value to 50 percent in the next four years. Read more about Vietnam targets to double garment export turnover in 2014 …

23 MAY

Bill seeks orderly phase out for garment firms

Bill seeks orderly phase out for garment firms
Saipan Tribune

A new bill was introduced in the House of Representatives to standardize the process for winding up garment manufacturing operations in the Commonwealth.
Rep. Jacinta Kaipat authored the bill in light of the 2005 expiration of the international textile quota system, which has caused a decline in local apparel production and factory downsizing or closures on the islands. Read more about Bill seeks orderly phase out for garment firms …

23 MAY

Roundup: Bangladeshi gov't is in trouble with power shortage

Roundup: Bangladeshi gov’t is in trouble with power shortage
People’s Daily Online

The Bangladeshi government is in trouble with power shortage that is creating public anger across the country ahead of the general elections due in January next year.
Power supply is bad in the country and observers fear that it might create series of protests and the country has already witnessed explosions in the capital Dhaka and western Bangladesh, that left 20 people killed and hundreds wounded Read more about Roundup: Bangladeshi gov't is in trouble with power shortage …

23 MAY

Raising minimum wage in CNMI will erase garment industry – Chamber of Commerce

Raising minimum wage in CNMI will erase garment industry – Chamber of Commerce
Radio New Zealand International, New Zealand

Posted at 21:36 on 22 May, 2014 UTC
The president of Saipan’s Chamber of Commerce, Juan Guerrero, says moves by the U.S Congress to raise the minimum wage will erase what’s left of the garment industry in the Commonwealth of the Northern Marianas within months.

The controversial minimum wage bill, if enacted, will eventually more than double the U.S. minimum wage on CNMI from its current $3.05 to $7.25, over a number of years. Read more about Raising minimum wage in CNMI will erase garment industry – Chamber of Commerce …