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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The International Trade Centre (ITC) brings Tunisian textiles firms to Egypt to boost regional trade

In the first business-to-business mission since the pandemic, the International Trade Centre brought together 26 Egyptian and 10 Tunisian companies in May in Cairo,...

Turkish Textile Export Revenues 6.1 Billion USD

Turkey’s revenues from textile and raw materials exports amounted to 6 billion and 119 million dollars during the first 7 months of this year. According...

Australian Investors Express Strong Interest in Expanding Trade with Iran

Australian Ambassador to Iran has stated that a growing number of Australian tradesmen and investors are eager to collaborate with Iranian businesses, highlighting the...

Iran-Turkmenistan ties beyond neighborliness

Iran and Turkmenistan have great capacities to elevate their ties and become a good example in the region, as the Raisi administration in Iran...

Autoneum updates its outlook for 2022 as a result of the Ukraine war

Due to the impact of the war in Ukraine on the automotive industry and vehicle production as well as of rising inflation, Autoneum is...

Turkish exporters lose nearly $140M in April as Ukraine war hits trade

Turkey’s exports to Russia and Ukraine fell by nearly $140 million in April, as Moscow’s invasion of its southern neighbor continues to disrupt shipments. Sales...

Saudi Arabia transfers $80B of Aramco shares to sovereign fund

Saudi Arabia has transferred 4% of the stock in the state-run oil giant Saudi Aramco to the country’s sovereign wealth fund, the government said...

Iran to open trade center in Sulaymaniyah

Iran's Consul General in Sulaymaniyah Mehdi Shoushtari has said the Islamic Republic plans to open a trade center in the region for promoting Iranian...

Ankara-Mogadishu Bilateral Ties Propel Somali Businesses

The special relationship Somalia and Turkey share, which extends to trade, is encouraging the Somali business community to travel to Turkey to import everything...

Swiss testing firm SGS posts CHF 6.4 billion revenue in 2021

SGS Group, a Swiss leading testing, inspection and certification company, has recorded a total revenue of CHF 6.4 billion in fiscal 2021, up by...
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