Economy News

Groz-Beckert is adapting its organizational structure at its headquarters to changing market conditions

Albstadt: The ongoing weakness in demand and structural changes in the international textile industry continue to put economic pressure on Groz-Beckert’s core business, Textile Tools. Since a market recovery...

Syria Seeks Funding to Advance €5 Million Textile Recovery Project

Syrian officials and international partners met at the Italian Embassy in Damascus to review progress on the €5...

Change of Leadership at Rieter

Thomas Oetterli has decided to step down from his function as CEO, effective October 31, 2026, and hand...

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...

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New Zealand and Saudi Arabia Launch Business Council to Boost Trade Ties

New Zealand’s Minister for Trade and Investment, Todd McClay, and Saudi Arabia’s Minister of Investment, Dr. Majid bin Abdullah Al-Kassabi, have signed a joint...

Pakistan’s Textile Exports Rise Nearly 10% to $3.2 Billion in July–August

Pakistan’s textile exports, the backbone of its economy and a key supplier to global fashion brands, rose nearly 10 percent year-on-year to $3.2 billion...

Africa Awaits AGOA Lifeline as Extension Hangs in the Balance

As the African Growth and Opportunity Act (AGOA) nears its scheduled expiration on September 30, 2025, African nations—particularly those with textile-driven economies—are anxiously awaiting...

Garanti BBVA and Ivy Decarb Partner to Finance Textile Industry’s Green Transition

Garanti BBVA, the Turkish unit of Spain’s BBVA, has partnered with Ivy Decarb Marketplace to accelerate decarbonization in Turkey’s textile sector. The initiative will...

Swedish Group Invests $1 Billion to Make Vietnam a Global Hub for Textile Recycling

Vietnam’s textile industry is on the verge of a groundbreaking transformation. The Swedish group SYRE, a joint initiative of global fashion brand H&M and...

Türkiye–Africa Business and Economic Forum to Be Held in Istanbul

The Türkiye–Africa Business and Economic Forum (TABEF) will convene for the fifth time on October 16–17, 2025, in Istanbul, hosted by Türkiye’s Ministry of...

Pakistan’s Textile Exports Maintain Growth Momentum Despite Short-Term Volatility

Pakistan’s textile industry, which accounts for nearly 63% of the country’s total exports, continues to be the backbone of the economy. According to the...

AfCFTA Pushes to Finalize Rules of Origin by October 2025, But Textiles and Autos Stall

The African Continental Free Trade Area (AfCFTA) is pushing toward its ambitious goal of 97% tariff liberalization by October 2025. However, critical negotiations remain...

Turkmenistan Delegation Strengthens Trade and Textile Ties in Japan

A Turkmen delegation led by N. Agahanov, Minister of Trade and Foreign Economic Relations of Turkmenistan, paid a working visit to Japan from August...

Africa’s $100 Billion Trade Finance Gap Threatens Growth

Africa’s economic ambitions are being held back by a chronic shortage of trade finance, with banks rejecting an estimated $100 billion in legitimate trade...
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