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24DecDecember 24, 2024

US brand Perfect Corp. enters luxury fashion with Wannaby acquisition

Perfect Corp. is acquiring Wannaby Inc., an expert in virtual try-on tech, to expand into luxury segments like shoes, bags, and apparel. This move enhances its fashion tech capabilities and strengthens its collaboration with Farfetch. The acquisition aims to redefine digital experiences in beauty and fashion, with completion expected soon, pending customary conditions. Perfect Corp. is acquiring Wannaby Inc., an expert in virtual try-on tech, to expand into luxury segments like shoes, bags, and apparel. This move enhances its fashion tech capabilities and strengthens...

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24DecDecember 24, 2024

IIL partners with BioPrime for sustainable agri-solution in India

Insecticides (India) Limited (IIL) has partnered with BioPrime Agro Solutions to bring Relieve, a biological product based on seaweed and botanical extracts, to India. Relieve improves crop health, boosts yield, and mitigates stress from drought and heat. This collaboration underscores IIL’s commitment to eco-friendly farming and sustainable agricultural solutions for Indian farmers. Insecticides (India) Limited (IIL) has partnered with BioPrime Agro Solutions to bring Relieve, a biological product based on seaweed and botanical extracts, to India. Relieve improves crop health, boosts yield, and mitigates...

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24DecDecember 24, 2024

South India cotton yarn prices stable amid thin trade

South India’s cotton yarn prices remained stable due to slow demand and thin trade, with hopes of higher demand in January 2025. In Tiruppur, knitting cotton yarn ranged from ₹235-285 per kg, while Mumbai prices showed similar steadiness. Gujarat saw cotton prices rise ₹200-300 per candy, with Shankar-6 cotton at ₹53,300-53,800 per candy, driven by ICE cotton gains and CCI procurement. South India’s cotton yarn prices remained stable due to slow demand and thin trade, with hopes of higher demand in January 2025. In...

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24DecDecember 24, 2024

France’s LDC acquires BASF’s food & health ingredients business

BASF has agreed to sell its Food and Health Performance Ingredients business, including a production site in Illertissen, Germany, to Louis Dreyfus Company (LDC). This move supports BASF's strategic focus on core areas like vitamins and carotenoids. LDC aims to expand its presence in the plant-based ingredients market. Around 300 employees will transfer to LDC as part of the deal. BASF has agreed to sell its Food and Health Performance Ingredients business, including a production site in Illertissen, Germany, to Louis Dreyfus Company (LDC). This...

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24DecDecember 24, 2024

ICE cotton gains on speculative buying after hitting one-month low

ICE cotton prices rose on Monday, driven by speculative buying after hitting a one-month low. The March 2025 contract settled at 69.06 cents per pound, marking a 1.36-cent increase, with triple-digit gains in early contracts. Stabilised grain markets and mill buying at attractive price levels supported the rise. Speculators increased net short positions, while open interest fell. ICE cotton prices rose on Monday, driven by speculative buying after hitting a one-month low. The March 2025 contract settled at 69.06 cents per pound, marking a 1.36-cent...

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24DecDecember 24, 2024

Vietnam back as ASEAN growth star as outlook turns more positive: HSBC

Vietnam’s economic outlook has turned more positive, with recovery continuing as the year progressed after a challenging Q1 2024, according to HSBC, which said the country is back as ASEAN’s ‘growth star’. HSBC noted that growth rose to 6.9 per cent and 7.4 per cent in Q2 and Q3 respectively, and so it has raised the country’s growth forecast for this year to 7 per cent from 6.5 per cent earlier. Vietnam’s economic outlook has turned more positive, with recovery continuing as...

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24DecDecember 24, 2024

30.58% drop in jobs in Bangladesh RMG sector due to automation: Study

Automation in Bangladesh's RMG sector has led to a 30.58-per cent reduction in workforce across production processes, with helpers being the most hit, a study revealed. Automation has particularly hit women, older workers, those with lower literacy and unskilled labourers. Sweater factories saw a 37.03-per cent drop per production line. Woven factories followed, with a 27.23-per cent decline. Automation in Bangladesh's RMG sector has led to a 30.58-per cent reduction in workforce across production processes, with helpers being the most hit, a study revealed. Automation...

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24DecDecember 24, 2024

Netherlands’ consumer confidence drops to -26 in December: CBS

Netherlands' consumer confidence stood at -26 in December, down from -25 in November, well below the 20-year average of -10, as per CBS. The economic climate index fell to -45 from -43, with pessimism about the past 12 months and future expectations worsening. Willingness to buy dropped to -13, with a slight improvement in sentiment toward buying consumer durables. Netherlands' consumer confidence stood at -26 in December, down from -25 in November, well below the 20-year average of -10, as per CBS. The economic...

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24DecDecember 24, 2024

No growth in UK real GDP in Q3 2024: ONS estimates

UK real GDP is estimated to have shown no growth in Q3 2024, revised down from the first estimate of a 0.1-per cent rise, the Office of National Statistics said. The quarterly path of real GDP at an aggregate level is unchanged from Q1 2023 to Q1 2024. However, there have been downward revisions of 0.1 percentage point in Q2 and Q3 2024. A 0.4-per cent fall in production was recorded in Q3 2024. UK real GDP is estimated to have shown no growth...

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24DecDecember 24, 2024

China sees online retail sales worth $1.92 trn in Jan-Nov 2024

China saw online retail sales worth 14 trillion yuan ($1.92 trillion) in the first 11 months this year—up by 7.4 per cent YoY, according to the National Bureau of Statistics. Among those, sales of physical commodities grew by 6.8 per cent YoY during the period. Ministry of commerce data show sales of industrial e-commerce platforms with a scale above 10 billion yuan rose steadily in the period. China saw online retail sales worth 14 trillion yuan ($1.92 trillion) in the first 11 months...

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