World

China’s 2019 Q1 Growth is Slightly More than Economists’ Forecasts

Published

6 years ago

May 10, 2019

HONG KONG – China’s economic growth in the first quarter has shown positive results due to high manufacturing production and larger spending by Chinese consumers. In the previous year, economists predicted the Chinese economy’s growth to stand at 6.3% but it has surpassed that mark and has come out to be 6.4%. China has been facing a slowdown in its economy because of the trade war with the US and the government’s efforts to rein a high amount of debt in China’s financial system. Though this growth rate is still the lowest, if we compare it with the past economic growth in a decade.

The improvement in China’s economic growth hints about the positive results in the near future. Property prices and bank lending are the prominent factors which have a significant role to play. Investors would keep an eye on the possibility of an agreement on the trade issues between the US and China. Earlier, due to the trade war between the US and China, the former had imposed new tariffs on approximately $250 billion of Chinese exports. This resulted in the slowdown in China’s economy. The second-largest economy of the world also witnessed a downfall in growth as the government put a check on risk lending which left many companies devoid of funds needed for expansion. However, due to a growth in the manufacturing sector in the country, China magnet manufacturing company, AO Magnet is expected to witness more growth in the near future.

The Chinese magnet manufacturer, aomagnet.com is expected to grow well in 2019 amidst slowdown as the government has hinted to take important measures to boost the country’s economy. Cutting of taxes on businesses, loosening of monetary policy and infrastructure investment would help businesses to witness a huge growth. With such efforts, the Chinese growth for 2019 would most likely surpass the targets set by the government.

World

Turkish Textile Giant Sun Textile Solution Proposal for Drought

Published

6 hours ago

February 4, 2025

Jenny Jackson

While the World Health Organization (WHO) and the United Nations (UN) are seeking solutions to combat drought through various projects, Ekoten Textile, a subsidiary of Turkey’s textile giant Sun Textile, has developed a groundbreaking project in collaboration with a technology startup to minimize the intensive water consumption in the textile industry. This pioneering project, the first of its kind globally, will enable the recycling and reuse of up to 90% of the water used in textile production.

Drought is one of the most pressing issues facing the world today. According to WHO data, 40% of the global population is struggling with water scarcity. By 2030, up to 700 million people could be forced to migrate due to drought. The unconscious use of water in global production processes plays a significant role in the rapid depletion of clean water resources.

The textile industry is one of the sectors with the highest water consumption. In Turkey, while the food industry consumes 22% of the water used for industrial purposes, the textile sector follows closely with 18%. For instance, producing an average of 40 tons of products daily requires 2,500 tons of water, equivalent to the daily water consumption of approximately 10,000 people.

CLEAN WATER RESOURCES FOR HUNDREDS OF THOUSANDS OF PEOPLE EVERY DAY!

In textile production, where clean water resources are heavily consumed, the innovative success of the Turkish company stands out as a global best practice. This initiative will shape the future of the industry. The wastewater recycling project, developed through intensive R&D efforts, will ensure that over 90% of the required water is sourced from recycled supplies.

The reuse of wastewater in production will transform the fate of countries operating in the textile sector. By preventing the use of clean water resources for textile production, this project will free up clean water sources that can meet the daily needs of hundreds of thousands of people.

R&D ACTIVITIES IN 38 COUNTRIES WITH 380 PARTNERS!

Sun Textile places great emphasis on R&D activities, conducting research and development efforts with 380 partners across 38 countries. Sun Textile and its subsidiary Ekoten Textile export nearly 90% of their production, solidifying their identity as a leading exporter. The company ships products to numerous destinations worldwide, including European countries, the UK, and the US. Sun Textile, the leading ready-to-wear exporter in the Aegean Region, achieved a consolidated turnover of 250 million euros in the third quarter of 2024, continuing its active growth trajectory.

OFFERING CUSTOM DESIGNS TO CUSTOMERS

Sun Textile provides its own designed collections to leading brands in Europe and the UK. Ekoten Textile, its subsidiary, is among the most respected knitted fabric manufacturers in Turkey and Europe.

With a dedicated sales team for each major customer group and five design offices in three different countries, Sun Textile creates designs tailored to its customers’ needs. Its largest clients include the Inditex Group, H&M, Jimmy Key, Tesco, Kiabi, Marks & Spencer, and Next.

Sun Textile also extends its sustainability approach to social responsibility, notably for its high ratio of female employees. The company, which went public in 2022, is also listed in dividend indexes.