Economy News

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 to the latest2026 African Trade...

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...

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...

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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 TĂĽrkiye’s ISO 500 Industrial Ranking

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

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

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

AUS Professor’s Research on Smart cities and IoT-based platforms contributes to United Nations’ Sustainable Development Goals

American University of Sharjah (AUS) continues its commitment to research that positively impacts society, as renowned professor and researcher Dr. Abdul-Rahman Al-Ali publishes research...

UAE Launches ‘Naseej’ Initiative to Advance Textile Circularity and Reduce Waste

The United Arab Emirates (UAE) has launched Naseej, the National Initiative for Textile Circularity, marking a significant step toward transforming the country's textile industry...

NCTO Supports Congressional Push for Stronger US Textile Customs Enforcement

The National Council of Textile Organizations (NCTO) has welcomed a bipartisan effort in the US House of Representatives calling for stronger customs enforcement to...

GID Textile Egypt Targets $500 Million in Exports with Major Expansion Plans

Egypt is set to strengthen its position as a regional textile manufacturing hub as GID Textile Egypt Group unveiled ambitious expansion plans aimed at...

India–Oman CEPA Opens New Export Opportunities for Textile and Apparel Industry

The implementation of the India–Oman Comprehensive Economic Partnership Agreement (CEPA) is expected to provide a significant boost to India's textile, apparel, and handicraft sectors...

Sri Lanka Strengthens Its Position as a Strategic Apparel and Logistics Gateway Connecting Asia, Africa, and Europe

Hellmann Worldwide Logistics and MAS Holdings have announced the development of a new dedicated fashion logistics hub in Sri Lanka, marking a significant investment...
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