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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Sri Lanka’s Apparel Industry Urges Swift Policy Action Ahead of Stricter EU GSP+ Review

As global trade conditions tighten, Sri Lanka’s apparel industry is calling for immediate policy reforms to safeguard the country’s preferential access to the European...

Trump-Era Tariffs Present Opening for India’s Textile Sector — But Innovation Is Key

The reintroduction of steep U.S. tariffs by former President Donald Trump could offer India’s textile industry a strategic opening to gain ground in global...

Lesotho’s Economic and Health Stability at Risk After U.S. Tariffs and Aid Cuts

Recent shifts in U.S. trade and foreign aid policies have placed Lesotho—a small, landlocked nation in southern Africa—under significant threat. The introduction of a...

Foreign Investors Offered Special Incentives in Punjab’s Special Economic Zones

Foreign investors, particularly from African nations, are being offered special incentives to invest in Punjab’s Special Economic Zones (SEZs), officials announced during a high-profile...

TEXSUM’5 in Bursa Highlights Sustainability, Digital Transformation, and Future Design in Textiles

The fifth edition of the TEXSUM Textile Summit, held at Bursa Uludağ University (BUÜ), convened leading textile professionals, academics, and students to explore the...

Chipless RFID: Smart, Scalable & Eco-Friendly ID Solution

By: Aishwarya Doiphode - Persistence Market Research The rapid advancement of the Internet of Things (IoT) and digital transformation has heightened the demand for innovative...

Iran’s Textile Industry Positioned for $1 Billion Investment Potential

Iran’s textile industry stands at a pivotal moment, with current investments reaching $400 million and the potential to attract up to $1 billion, provided...

Bangladesh Accelerates Technology Transfer to Future-Proof Its Textile Industry

In a strategic shift aimed at sustaining its position as the world’s second-largest garment exporter, Bangladesh is intensifying efforts to modernize its textile sector...

Euro Surge Provides New Momentum for Turkish Textile Industry

The recent appreciation of the euro has created fresh opportunities for Türkiye’s textile sector, helping ease the pressure from domestic economic challenges. With the...

Indonesia’s Textile Industry Eyes U.S. Cotton to Offset Tariff Impact

Indonesia’s textile and apparel sector is bracing for severe fallout following the U.S. government’s imposition of a 32% “reciprocal” tariff on Indonesian goods—a move...
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