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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UAE and Central African Republic CEPA to Boost Trade Beyond AED3.67 Billion

The UAE and the Central African Republic (CAR) have signed a Comprehensive Economic Partnership Agreement (CEPA) aimed at boosting bilateral trade and investment, with...

NCTO Expresses Concern Over President Trump’s Tariffs on Mexico and Canada

The National Council of Textile Organizations (NCTO) has raised serious concerns regarding the Trump administration’s recent decision to impose 25 percent tariffs on imports...

Africa’s Economic Challenges: An Opportunity for Transformation, Says UNCTAD

Africa’s economic struggles, marked by dependency on volatile global markets, infrastructure deficits, and escalating debt, offer a unique chance to reshape the continent’s future,...

EURATEX Urges Stronger Enforcement for Fair and Safe E-Commerce in the EU

The European Commission’s latest communication on e-commerce highlights growing concerns over direct-to-consumer imports via online marketplaces. EURATEX supports stricter enforcement to combat non-compliant and...

Rieter – Significant Increase in Order Intake in Financial Year 2024

• Order intake of CHF 725.5 million • Sales of CHF 859.1 million • Order backlog of around CHF 530 million at December 31, 2024 • EBIT...

Spinnova Oyj (Finland) Joins ITMF As Corporate Member

Based in Finland, Spinnova has developed patented technology for making textile fibre from wood pulp or waste, such as leather, textile or agricultural cropping...

From Pre-Treatment To Finishing: Textile Chemicals & Dyes At Techtextil Frankfurt 2026 For The First Time As A Separate Product Area

From fibre production to coating: For the first time, Techtextil bundles the range of exhibitors in the field of Textile Chemicals & Dyes in...

The Belgian Textile Industry in 2023: Stability Amid Challenges

Turnover Holds Steady Despite Declines in Volume In 2023, the Belgian textile industry managed a stable turnover, recording €5.1 billion—a slight drop of 0.4% compared...

Turkish Furniture, Paper, and Forestry Products Industry Expands Its Export Reach to Africa

In a strategic push to broaden export markets, the Istanbul Furniture, Paper, and Forestry Products Exporters' Association has initiated the “Mauritania-Senegal General Trade Delegation”...

Exploring the Future of Textile Machinery: Insights from Alex Zucchi at ITMA Asia + CITME 2024

Today, we had the privilege of interviewing Mr. Alex Zucchi, President of CEMATEX (the Association of European Textile Machinery Manufacturers), during the ITMA Asia...
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