stock alerts
stock screener
search stocks using your criteria

Site News

Main features: company information, stock markets, stock filters, intraday charts, alerts, portfolio, customized searches (details)
Site update: July 03 2020, at 23:30 PKST
Stock update: July 03 2020.

Recent Financial News in the 'textile-spinning' category

Login or sign up to search news items.


Tuesday, June 30 2020

Textile firms export health products to recoup losses
Pakistan’s textile sector has devised a strategy to boost diminishing exports, damaged by the lethal Covid-19 pandemic, by exporting health-related products such as protective gowns, scrubs and masks. “In June 2020, textile exports are expected to surpass $1-billion mark,” said the management of Gul Ahmed Textile Mills Limited in a corporate briefing held on Monday. Business suspension during lockdown coupled with loss of export orders caused a financial dent of Rs8 billion while contribution margins fell Rs1.6 billion, the management said. It pointed out that the retail segment had not yet normalised because outlets were functioning for limited timings and remaining completely closed at weekends, which was usually the time of increased sales.
Related news categories: business economic-indicators misc textile-composite textile-spinning textile-weaving

Wednesday, June 17 2020

Textile exports tumble 36.5pc in May
ISLAMABAD: Pakistan’s textile and clothing exports tumbled for the third consecutive month in May falling 36.5 per cent year-on-year to $751.128 million compared to $1.185 billion in the corresponding month of last year, data released by the Pakistan Bureau of Statistics (PBS) showed on Tuesday. Compared to 64.5pc decline in April, when textile and clothing exports fell to $403.834m year-on-year—the lowest level in almost 17 years, month-on-month proceeds in May fared better owing to a recovery in international orders. The easing of lockdown in the North American and European countries—top export destinations for Pakistani textile goods will help revive the sinking exports. The Covid-19 has collapsed the demand for country’s exports during the last four months.
Related news categories: business economic-indicators misc textile-composite textile-spinning textile-weaving

Tuesday, June 16 2020

Pakistan's textile sector rejects ‘unrealistic’ Budget 2020-21
FAISALABAD: The condition of the textile industry will worsen amid a liquidity crunch and shrinking global business, and will lead to closure of industrial units, decline in exports and massive unemployment. Pakistan Hosiery Manufacturers Association (PHMA) Chairman Salamat Ali, in a statement, said the value-added textile export industry had rejected the federal budget for 2020-21, terming it “one-sided and unrealistic” without any relief for the textile industry, which was the backbone of the economy and exports. Being the most labour-intensive, the textile industry provides employment to a huge number of female workers, particularly to the lower class, in garment units.
Related news categories: business economic-indicators misc textile-composite textile-spinning textile-weaving

Monday, June 15 2020

Textile sector ‘masking’ its way forward
IF you had suggested to Ahmed Jahangir, the executive director of Nishat Mills, a few months ago that textile masks will be his company’s new product, he would have snickered and retorted: “Why? What has happened? Did I miss something?” Today he says masks will now be a permanent part of his future business. “The global demand for textile masks will not dry even when the virus contagion is over,” Mr Jahangir, told this correspondent. Masks are now the latest fashion accessory and part of the lifestyle worldwide, not just another healthcare item. “We are receiving large orders for all types of textile masks from major Ameri­can and European brands,” he said.
Related news categories: business economic-indicators misc textile-composite textile-spinning textile-weaving

pkfinance.info helpline: +92-42-3631-4186 (10:30am to 5:30pm)