Economy News

U.S. Textile and Apparel Industry Unites Behind New Trade Incentive Proposal

For the first time in recent years, leading U.S. textile manufacturers, apparel brands and retailers have jointly proposed a new trade incentive program aimed at strengthening domestic manufacturing, expanding...

Afreximbank: Africa’s Economy Grows 4.5% in 2025 Despite Global Trade Challenges

Africa strengthened its economic resilience in 2025, recording faster economic growth despite rising geopolitical tensions, slowing global demand...

Mohawk Cleared to Acquire Bremworth as Deadline Looms for New Zealand Wool Carpet Deal

Mohawk Industries has received regulatory approval to acquire Bremworth, bringing one of New Zealand’s best-known wool carpet manufacturers...

Ferraro S.p.A. acquires the “Finishing” business unit of Cibitex S.r.l.

Ferraro S.p.A. and Cibitex S.r.l. are pleased to announce the completion of the agreement pursuant to which Ferraro...

US Proposes New Tariffs on Seven African Countries Over Forced Labour Concerns

The United States is considering imposing an additional 12.5 percentage point tariff on imports from seven African countries...

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Bangladesh Seeks to Boost RMG Raw Material Imports from South Korea

Bangladesh’s ready-made garment (RMG) sector is setting its sights on deeper trade collaboration with South Korea, particularly through increased imports of raw materials and...

State-of-the-Art Needling Technology Installed by Dilo Systems GmbH at ALMA SPA, Italy

ALMA in Florence is a specialist in the floor covering sector providing high quality products in a vast range of styles, colours and aesthetics....

Empowering design innovation at Robert Mackie: UKFT’s Young Textile Technician Fund

Two members of the design team at Robert Mackie of Scotland, have completed specialist training on Stoll Create software, supported by UKFT Young Textile...

Last Chance to Join EDANA’s Innovation Forum!

Brussels, 14th of May 2025 – The countdown is on! With just 4 weeks to go, the EDANA Innovation Forum 2025 is nearly at...

Flexi-Light PET: Outstanding, sustainable sound insulation for vehicles

Polyurethane foam has traditionally been used to reduce noise, vibration and harshness (NVH) in vehicles, contributing to passenger comfort. At the Automotive Acoustics Conference...

Saurer to Showcase Cutting-Edge Spinning and Twisting Technology at International Textile Forum in Tajikistan

Saurer Group is pleased to announce its participation in the upcoming International Forum and Textile Equipment Exhibition, taking place from 8–10 July 2025 in...

Using AI to tackle the problem of old clothes in the UK

The British company Circle-8 Textile Ecosystems has made a significant investment: a stand-alone, automated single line sorter from Danish innovation company NewRetex. With the...

Egypt Secures $70 Million Investment from Chinese Textile Companies Amid Push for Sectoral Growth

Egypt has attracted nearly $70 million in new investments from leading Chinese textile and garment firms, reinforcing the country’s strategy to position itself as...

Afreximbank to Launch $5 Billion Integrated Textile Hub in Nigeria as Part of Bold Industrialisation Agenda

In a landmark move set to reshape Africa’s textile landscape, the African Export-Import Bank (Afreximbank) has announced the construction of a $5 billion integrated...

Lesotho Declares National Disaster as Unemployment Crisis Deepens

The Kingdom of Lesotho has officially declared a state of national disaster in response to escalating unemployment rates that have reached alarming levels. The...
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