Tag: Nike

Ben Affleck To JLo: You Mean The World To Me

By LokMarg

Actor Ben Affleck opened up about his feelings for wife Jenifer Lopez at the second screening of his directorial venture ‘Air’ at the Regency Village Theatre, Los Angeles.

“This has been a joy, and I want to just enjoy this moment for one second,” he said, adding, “And I want to say that none of it would be possible — this company, this movie, this joy tonight — without the love and support of my wife who means more to me than anything in the world. I want to say thank you. I love you. You mean the world to me. You’re fabulous, you’re amazing, you’re wonderful, good, kind, magnificent and I love you.”

Affleck directed and co-stars in ‘Air’, a biographical drama which chronicles Nike’s revolutionary creation of the Air Jordan shoeline.

‘Air’ stars Matt Damon as the Nike executive who signed Michael Jordan to his first sneaker deal. Affleck plays the role of Nike CEO Phil Knight, and the film also stars Viola Davis, Jason Bateman, Marlon Wayans, Chris Tucker and Chris Messina.

In the maiden screening of the movie ‘Air’, at South by Southwest Film and TV Festival (SXSW) Affleck said, “Tonight is the most important night of my professional life.”

He added, “This is an optimistic, hopeful movie about people. So I can’t hide behind being an auteur – [as if to say] ‘you don’t need to understand my movie.’ I really hope you like it … So no pressure, but it’s all on you,” reported The Hollywood Reporter, a US-based media company.

‘Air’ will mark the first film from Amazon to be released in theatres without a simultaneous release on Prime Video. The film will hit the theatres on April 5. (ANI)

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Pak's Textile Factories

Pak’s Textile Factories Shut Down Due To Cotton Shortage

By LokMarg

The already fragile Pakistan economy, hit hard by the devastating floods, now faces the shutdown of textile factories as the cotton crop has been destroyed.

The cotton shortage has forced the owners to shut down textile factories after the floods. The mill closures underscore challenges for the sector that employs about 10 million people, accounts for 8 percent of the economy, and adds more than half to the nation’s export earnings, reported Geo News.
While the larger firms are less affected as they are well stocked, Pakistan’s small factories making bedsheets and towels for export to the US and Europe have started to shut down, The News reported.

Pakistan Textile Exporters Association’s patron-in-chief Khurram Mukhtar said that a shortage of good quality cotton, high fuel costs, and poor recovery of payments from buyers are the reasons behind the closing of small textile mills.

Mukhtar said that larger firms supplying global companies like Nike, Adidas AG, Puma SE, and Target Corp are well stocked and hence, they are less affected, reported Geo News.

The recent floods, which submerged a third of Pakistan, killed more than 1,600 people and damaged about 35 percent of the cotton crop, reported Geo News.

The latest blow comes at a difficult time for the South Asian nation already struggling with high inflation and falling currency reserves.

Due to an “unforeseen downturn in the market and unavailability of good quality cotton” following heavy rains and floods, the company’s mills have been temporarily closed, Faisalabad-based AN Textile said in an exchange filing earlier this month, reported Geo News.

Cotton production in Pakistan could slump to 6.5 million bales (of 170 kilograms each) in the year that started in July, compared with a target of 11 million, Mukhtar said.

That could force Pakistan to spend about 3 billion to import cotton from countries such as Brazil, Turkey, the US, East, and West Africa, and Afghanistan, said Gohar Ejaz, patron-in-chief of All Pakistan Textile Mills Association.

About 30 percent of Pakistan’s textile production capacity for exports has been hampered because of cotton and energy shortages, Ejaz said.

Pakistan’s textile sector, which exports about 60 percent of its production, is also facing poor demand in the domestic market due to fragile economic conditions. (ANI)

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