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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Uncertainty Around AGOA Renewal Prompts Africa to Rethink Trade Strategies

As the 25-year-old African Growth and Opportunity Act (AGOA) approaches its September 2025 expiration, experts across the continent are urging a strategic reassessment of...

Uludağ Exporters’ Associations Close 2024 with Record-Breaking $38.6 Billion in Exports

Uludağ Exporters' Associations (UİB), Turkey's second-largest export hub according to General Secretariat data, concluded 2024 on a high note with an impressive $38.6 billion...

Ethiopia’s Textile Sector Faces Crisis Amid Calls for Minimum Wage Reform and Policy Overhaul

Ethiopia’s textile and garment industry, once hailed as a pillar of the nation’s industrialization strategy, is under growing pressure due to critical policy gaps...

U.S. Closes De Minimis Loophole, Boosting Domestic Textile Industry

The U.S. textile industry is celebrating a major policy shift following the closure of the de minimis import loophole, a move that has long...

U.S. Slams China’s Unfair Textile Trade Practices Amid Plant Closures

The United States has strongly criticized China’s trade practices in the textile and apparel sector, attributing the shutdown of 28 U.S. textile manufacturing plants...

AfCFTA Finalizes Rules of Origin for 92% of African Trade

A major milestone in African trade integration has been reached as the African Continental Free Trade Area (AfCFTA) finalized rules of origin for 92%...

Armenia Proposes Textile Joint Ventures with China

Armenia has extended an official proposal to China to establish joint ventures in the textile sector, aiming to leverage Chinese expertise and boost local...

Bankrupt Turkish Textile Firm Bursel Loses $700M Arbitration Case Against Uzbekistan

Turkish textile company Bursel Tekstil has lost a high-profile arbitration case against the Government of Uzbekistan, with the International Centre for Settlement of Investment...

Nigeria Approves New Textile Development Board and $90 Billion Agribusiness Plan

In a significant move to reposition the nation’s economy and strengthen food security, the National Economic Council (NEC) has approved the establishment of a...

Egypt Reinforces Commitment to Modernizing Its Textile Industry

Egyptian Prime Minister Mostafa Madbouly has reaffirmed the government’s dedication to transforming the country’s textile and spinning industry. This commitment is part of a...
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