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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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...

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...
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