Economy News

Change of Leadership at Rieter

Thomas Oetterli has decided to step down from his function as CEO, effective October 31, 2026, and hand over the Chairmanship of the Board of Directors. “After the successful implementation...

Fine Spinners Uganda Invests $5 Million to Target Kenya’s Apparel Export Market

Fine Spinners Uganda Limited is investing an additional US$5 million in textile machinery as it seeks to become...

PM Modi’s Uzbekistan Visit: What It Means for the India-Uzbekistan Textile Trade

Indian Prime Minister Narendra Modi's two-day state visit to Uzbekistan on August 29–30, 2026, at the invitation of...

India-New Zealand FTA Creates US$2 Billion Export Opportunity for Indian Textile Industry

India's textile and apparel industry is expected to benefit significantly from the forthcoming India-New Zealand Free Trade Agreement...

NCTO Voices Concerns Regarding USTR’s Textile Mechanism, Part of Administration’s Section 301 Actions on Forced Labor

The National Council of Textile Organizations (NCTO), which represents the full spectrum of the U.S. textile industry from...

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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...

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 and continued supply chain disruptions, according...

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 a step closer to leaving the...

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 S.p.A. has acquired the “Finishing” business...

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 following investigations into labour standards and...

Nigeria Textile Import Ban Proposal Raises Concerns Over ₦10 Trillion Garment Industry

The Centre for the Promotion of Private Enterprise (CPPE) has cautioned that the Nigerian Senate’s proposal to ban textile fabric imports could have significant...

Supreme Nonwoven to Build First U.S. Manufacturing Facility in North Carolina with $25.8 Million Investment

Supreme Nonwoven Inc., a leading manufacturer of advanced nonwoven materials, has announced plans to establish its first manufacturing facility in the United States, investing...

Senegal Opens $10.45 Million Textile Factory as Turkish Investment Strengthens West Africa’s Cotton Value Chain

Senegal has taken another significant step toward industrializing its textile sector with the inauguration of a $10.45 million garment manufacturing facility in the Diamniadio...

Textile and Apparel Companies Lose Ground in Türkiye’s ISO 500 Industrial Ranking

The presence of textile and apparel companies in Türkiye's largest industrial enterprises continues to decline, according to the latest Türkiye's Largest 500 Industrial Enterprises...

Türkiye’s Raff Military Textile Targets Uganda’s Defence Market Through Trade Mission

Raff Military Textile, one of Türkiye's leading manufacturers of military and security apparel, is set to strengthen its presence in Africa by participating in...
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