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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Vietnam ; 55 Billion USD Textile Export and 3 Million Jobs by 2025

The garment sector has set a target of earning 55 billion USD from export and generating 3 million jobs by 2025. The target was unveiled...

Cargo carried on Turkey-Iran railway set to reach 1M tons in 2021

BY ANADOLU AGENCY Turkey aims to increase the cargo transportation with its southern neighbor, Iran, this year, as some 1 million metric tons of cargo...

Vietnam, Israel to sign labour cooperation pact this year

Israel and Vietnam recently initiated negotiations over a labour cooperation agreement. At the virtual meeting, both sides discussed technical issues to clarify their labour...

IKEA publishes sustainability report FY20

IKEA has released a sustainability report for FY20 that covers collective efforts from the contributors in the IKEA franchise system and value chain. Company’s important...

Textile Industry Project to Employ 2,500 in SE Turkey’s Kilis

Kilis, a small province in southeastern Turkey, is set to become a regional hub for textile production with the establishment of Tekstilkent, a new...

Ethiopian Companies Participating in Khartoum Int’l Trade Fair

Addis Ababa January 23/2021 ( ENA) Ethiopia is taking part in a two-week Khartoum International Trade Exhibition , according to Ministry of Foreign Affairs. Embassy...

UNESCO includes Egyptian manual textile industry in Upper Egypt in list of intangible cultural heritage

CAIRO – 16 December 2020: On December 16, UNESCO included the Egyptian manual textile industry of the Upper Egypt region in the list of...

South Africa Eyes Enhanced Economic Cooperation with Turkey

BY ANADOLU AGENCY South Africa aspires for enhanced relations as well as further economic cooperation with Turkey in the future, the country’s charge d’affaires, Tshepo...

Sanctioned Iran pushes local traders to seek lifeline in Iraq

Piles of plush carpets line the floors of a northern Iraq shopping centre hosting traders from neighbouring Iran who hopes the spangle of their...

Egypt, Eurasian Economic Union Discuss FTA

Egyptian Minister of Trade and Industry Nevine Gamea said that reaching a free trade agreement with the Eurasian Economic Union (EAEU) is one of...
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