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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Rieter Investor Update 2024

• Order intake of CHF 226.4 million in the third quarter, CHF 629.8 million after nine months • Sales of CHF 163.3 million in the...

Voltalia and TAQA Arabia Partner to Boost Egypt’s Green Energy and Hydrogen Production

Voltalia (Euronext Paris), a global leader in renewable energy, and TAQA Arabia have signed a significant framework agreement to develop a cluster that combines...

Egypt Aims to Triple Foreign Direct Investment to $30 Billion

In a bold move, Egypt's newly formed cabinet has set an ambitious target to triple foreign direct investment (FDI) from last year’s record $10...

20% Wage Increase for Tunisian Textile Workers Agreed for 2024-2026

In a significant development for the Tunisian textile industry, workers are set to receive a 20% wage increase spread over the next three years....

READY TO SHOW at MILANO FASHION & JEWELS at FIERA MILANO-RHO Hall 10

READY TO SHOW was created as the first sourcing tradeshow in Italy to give international producers of apparel, knitwear and fashion accessories direct access...

Shrinkage in EC and Decrease in Turkish Export

The contraction in European economies also caused damage to the exports of Turkey, one of the main suppliers of the region. The cost of...

Sentiment in Turkish Textile Industry Hits New Lows

The Turkish textile industry is experiencing significant upheaval as rising costs and labor expenses push manufacturers to relocate operations abroad. This trend comes amid...

Afreximbank Inaugurates FEDA Office in Kigali to Drive Africa’s Economic Transformation

Strengthening Intra-African Trade and Industrial Development The African Export–Import Bank (Afreximbank) has officially inaugurated the headquarters of its Fund for Export Development in Africa (FEDA)...

Global Carpet Yarn Market Resilience Amidst Pandemic

Despite the ongoing challenges posed by the COVID-19 pandemic, the global carpet yarn market is not just weathering the storm but poised for remarkable...

Coats Digital Shortlisted for Five Accolades at the UK’s National Technology Awards 2024

Coats Digital’s unique, time-cost benchmarking solution, GSDCost, has been recognised for delivering real ROI, whilst supporting a more collaborative, transparent and sustainable global fashion...
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