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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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...

Morocco Seeks Trade Deal Review with Turkey Over Textile Deficit

In June 2025, Morocco was reported to be preparing to renegotiate its free trade agreement with Turkey, seeking more Turkish investment to offset a...

Another Turkish Textile Giant Invests in Egypt: Ulusoy Tekstil to Launch $18 Million Project

Ulusoy Tekstil, one of Turkey’s leading textile manufacturers, is joining the growing list of Turkish companies investing in Egypt’s booming textile sector. The company...

Arab Bank “Best Bank in the Middle East 2025”

Arab Bank recently received the "Best Bank in the Middle East 2025" award from New York-based Global Finance magazine, reinforcing its strong leadership position...

China Backs Construction of Full-Cycle Textile Mill in Kazakhstan’s Turkistan Region

Kazakhstan is witnessing a significant boost to its textile industry with the construction of a full-cycle textile mill in the Turkistan region, supported by...
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