News

18Dec

Mixed trend prevails in India’s man-made yarn, viscose up in Mumbai

India’s man-made yarn market saw mixed trends. Viscose yarn prices rose in Mumbai due to a weaker dollar but fell in Surat due to slow demand. Polyester yarn dropped by ₹1/kg in Surat, while Ludhiana’s PC and polyester spun yarn remained stable. Cotton prices in North India were steady, with spinning mills cautious on new buying amid expectations of year-round supply. ​India’s man-made yarn market saw mixed trends. Viscose yarn prices rose in Mumbai due to a weaker dollar but fell in Surat...

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18Dec

Oct goods trade surplus €6.8 bn for euro area, €3.9 bn for EU

The euro area saw a goods trade surplus of €6.8 billion in October, with exports worth €254 billion—a rise of 2.1 per cent YoY, and imports worth €247.2 billion—a rise of 3.2 per cent YoY. The EU goods trade surplus was €3.9-billion in October. Extra-EU exports of goods in October were worth €227 billion—up by 0.9 per cent YoY; the bloc’s imports stood at €223.1 billion—up by 3 per cent YoY. ​The euro area saw a goods trade surplus of €6.8 billion in...

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18Dec

Toray supports DOE’s $2 bn GRIP initiative to boost US power grid

Toray Composite Materials America supports the DOE's $2 billion GRIP initiative to enhance US grid resilience and capacity. Toray’s carbon fibre aids CTC Global in producing ACCC Conductors, doubling electricity capacity and cutting energy loss by 30 per cent. Toray reaffirms its commitment to advancing efficient grid technologies and reliable power solutions across the US. ​Toray Composite Materials America supports the DOE's $2 billion GRIP initiative to enhance US grid resilience and capacity. Toray’s carbon fibre aids CTC Global in producing ACCC Conductors, doubling...

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18Dec

Shell to invest in Bonga North project in Nigeria

Shell Nigeria Exploration and Production Company has made a final investment decision on the Bonga North deep-water project off Nigeria's coast. The project will involve 16 wells, FPSO modifications, and subsea hardware installation. With an estimated 300 million barrels of recoverable oil and peak production of 110,000 barrels per day, production is expected to begin by the decade’s end. ​Shell Nigeria Exploration and Production Company has made a final investment decision on the Bonga North deep-water project off Nigeria's coast. The project will involve...

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18Dec

Austria’s Lenzing tops Canopy Hot Button Ranking 2024

The Lenzing Group has secured first place in Canopy’s 2024 Hot Button Ranking, earning a score of 33/40 and recognition in the ‘Leading in CanopyStyle commitments’ category. Praised for sustainable practices, sourcing transparency, and innovation, Lenzing advances eco-friendly fibre solutions, protects forests, and promotes circular production systems. ​The Lenzing Group has secured first place in Canopy’s 2024 Hot Button Ranking, earning a score of 33/40 and recognition in the ‘Leading in CanopyStyle commitments’ category. Praised for sustainable practices, sourcing transparency, and innovation, Lenzing...

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18Dec

German business sentiment hits lowest since May 2020: ifo

Germany's ifo Business Climate Index fell to 84.7 in December, the lowest since May 2020, as companies' expectations worsened. Manufacturing saw notable declines, with reduced satisfaction and gloomy forecasts. The trade sector also failed to maintain its recent positive trend, driven by dissatisfaction in both wholesale and retail. ​Germany's ifo Business Climate Index fell to 84.7 in December, the lowest since May 2020, as companies' expectations worsened. Manufacturing saw notable declines, with reduced satisfaction and gloomy forecasts. The trade sector also failed to maintain its...

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18Dec

EnBW & Abu Dhabi National Oil Company sign long term LNG contract

EnBW has finalised a binding LNG supply contract with ADNOC to receive 0.8 bcm/a from the Ruwais project, set to begin in 2028. The plant, powered by low-carbon energy and AI-driven efficiency, will produce lower-carbon LNG. The partnership strengthens EnBW's LNG portfolio and supports decarbonisation, highlighting ADNOC’s role in sustainable energy solutions. ​EnBW has finalised a binding LNG supply contract with ADNOC to receive 0.8 bcm/a from the Ruwais project, set to begin in 2028. The plant, powered by low-carbon energy and AI-driven efficiency,...

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18Dec

Swedish company Nordifa acquires Sporda Nonwoven

Swedish technical textile manufacturer Nordifa has acquired Sporda Nonwoven, a thermobonded and needlepunched nonwoven producer that went bankrupt in November. Sporda Nonwoven will continue as an independent company, led by Jonas Rylander and Anna Hallberg. Nordifa aims to maintain the current operations while exploring long-term synergies. ​Swedish technical textile manufacturer Nordifa has acquired Sporda Nonwoven, a thermobonded and needlepunched nonwoven producer that went bankrupt in November. Sporda Nonwoven will continue as an independent company, led by Jonas Rylander and Anna Hallberg. Nordifa aims to maintain...

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18Dec

BASF’s Symbiocell gets approved for use in China’s cosmetic market

BASF’s personal care business has secured a new cosmetic ingredient notification in China for Symbiocell, an ingredient proven to soothe sensitive skin. Clinically tested, it reduced skin reactivity and discomfort in 31 women, outperforming a benchmark anti-redness product. Symbiocell addresses growing demand for sensitive skin solutions, particularly in Asia Pacific. ​BASF’s personal care business has secured a new cosmetic ingredient notification in China for Symbiocell, an ingredient proven to soothe sensitive skin. Clinically tested, it reduced skin reactivity and discomfort in 31 women, outperforming...

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18Dec

Italy’s OVS SpA posts $436 mn Q3 2024 net sales, up 12.8% YoY

OVS SpA has reported net sales of €414.7 million (~$436.0 million) in Q3 of 2024, up 12.8 per cent YoY, with PBT at €24.1 million, up by 70.9 per cent YoY. EBITDA rose to €46.2 million (+€11.1 million). For 9M 2024, net sales hit €1,176.3 million (~$1,236.8 million), up 6.7 per cent YoY. PBT in 9M period was €72.3 million up 20.4 per cent, and adjusted EBITDA reached €135.2 6million. ​OVS SpA has reported net sales of €414.7 million (~$436.0 million) in Q3 of...

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