Fashion News

BASF has sold its stakes in two Xinjiang-based joint ventures to Verde Chemical Singapore Pte Ltd.
The deal, completed on April 21, 2025, awaits no financial disclosure.
Verde, backed by Verde Ventures SGP and minority partner GSS Energy, is setting up an IP and license centre in Singapore to advance tech-driven manufacturing in Southeast Asia.Read More

High US tariffs on goods from China will “come down substantially, but it won’t be zero”, President Donald Trump said yesterday.
“We’re doing fine with China,” he said.
Trump’s remarks followed reported comments at a private conference by treasury secretary Scott Bessent earlier in the day about the high tariffs being ‘unsustainable’ and that he expects a ‘de-escalation’ in the US-China trade war.Read More

ICE cotton futures rebounded on April 22, 2025, supported by rising crude oil prices, a weaker US dollar, and gains in equity markets.
The July 2025 contract rose 0.40 cent to 67.22 cents/lb.
Higher oil raised polyester costs, aiding cotton’s competitiveness.
Trading volume surged, while deliverable stocks remained unchanged.
Brazil’s March cotton exports dipped 5 per cent YoY.Read More

Fitch Ratings has downgraded its 2025 global growth forecast by 0.4 percentage points amid escalating US-China tariffs, predicting world growth below 2 per cent.
The US effective tariff rate has surged to 23 per cent, its highest since 1909, with inflation forecast above 4 per cent.
As growth in China and the eurozone slows, Fitch anticipates deeper rate cuts globally, aided by lower oil prices.Read More