India's textile industry was left disappointed after the budget on Monday 6 July as key demands were not met despite some positive announcements for the export-oriented sector, sending shares of textile firms down.
Bangladesh's main export earner has been rocked by the global economic downturn which has brought runaway growth to a juddering halt and this week prompted violent protests over wage cuts by tens of thousands of garment workers.
Triumph is launching a large cost-reduction programme and as a result emotion is running high in Thailand and the Philippines, where more than 3,600 jobs have been cut following a plunge in the company’s international demand.
The Indian Ministry of Textiles specified details of a 100 day plan to help the textile industry. Further to the launch of two new textile parks, aid for 150,000 weavers and financial support for exporters in finding new markets have been promised.
Aquarius Platinum's Everest mine could be more than a year away from resuming production given weak markets and a planned acquisition, a spokesman for the world's fourth-biggest platinum producer said.
A U.S. federal probe has found that about a third of American Apparel's factory workers in the Los Angeles area had supplied suspect or invalid records and were not authorized to work in the United States.