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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Is Pakistan Moving Towards a Dollarized Economy?

Imagine living in a country which sees an annual food inflation of over 50%. Currency collapse or the daily price change for many developing...

Is South Africa’s Hospitality Sector Facing a PR Crisis?

The reality is that the hospitality sector is facing a persisting PR crisis. This crisis is rooted in perceptions formed way before our nation...

Iranian Exports to Russia Increase by 30%

Iranian exports to Russia increased last year by 30% compared to the previous Iranian calendar year. According to the official statistics from Customs, more than...

Trade exchanges between Iran, Zimbabwe to increase to $500M

Iranian Minister of Cooperatives, Labor, and Social Welfare Solat Mortazavi predicted that trade exchanges between Iran and Zimbabwe would increase to more than $500...

BRICS Membership Expands Iran’s Economic Ties: Businessman

He emphasized the importance of Iran becoming an official member of international and regional organizations such as BRICS, following its accession to the Shanghai...

Textile SIT to Target Serial Defaulters

The Special Investigation Team (SIT) formed to probe cases of fraud in the textile industry has shelved more than 1,000 applications which were around...

Pakistan’s Textile Exports Fall 6% Year-on-Year in August, Clock in at $1.48bn: APTMA

Pakistan's textile sector experienced a decline in exports, with August figures at $1.48 billion compared to $1.58 billion from the previous year, marking a...

Iran, Qatar Stress on Developing Cooperation, Especially in Labor, Employment Fields

Iranian Minister of Labor and his Qatari counterpart emphasized the expansion of cooperation in fields of labor, employment, and exchange of skill training experiences. On...

TEXWORLD NYC: Your Gateway to Global Textile and Apparel Sourcing

Twice a year in New York City, thousands of international exhibitors gather to connect with buyers for the largest sourcing event on the East...

Prashanta Group Celebrating 1000 M/Cs in Surat

Prashant Group; comprises of India’s premier engineering companies, offers One-stop solution in the field of weaving preparation & logistics with a strong commitment to...
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