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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AfCFTA to Drive Post-Pandemic Growth and Poverty Reduction in Africa

The African Continental Free Trade Agreement (AfCFTA) will unlock significant business opportunities to help lift Africans out of poverty in the post-COVID-19 era, according...

Ethiopia freezes bank accounts of companies ‘financing TPLF’

By AGGREY MUTAMBO The Ethiopian government on Tuesday froze bank accounts of businesses linked to leaders of the Tigray People’s Liberation Front. The Federal Attorney General...

Turkish exports to Balkan countries top $10 billion as of Oct. 31

Turkey's exports to Balkan countries exceeded $10 billion from January through October this year, according to official data, with sales in some markets seeing...

Tehran to Host Next Meeting of Iran-Pakistan Joint Economic Committee

Iran and Pakistan have agreed to convene the 9th Joint Economic Committee (JEC) meeting in Tehran next month, marking another step toward strengthening bilateral...

ZIMBABWE’S TEXTILE AND CLOTHING EXPORTS DECLINE BY 58%

As per ZimTrade, Zimbabwe’s clothing and textile exports declined 58 per cent decline to $17 million between January and August this year. Its clothing and...

Saudi Aramco hires banks to sell international bonds

Energy giant Saudi Aramco said Monday it had hired banks to sell dollar-denominated bonds, to boost finances as the coronavirus pandemic weighs heavily on...

China economy boosted by government spending

China’s economic growth to be 2% in 2020 but coronavirus will keep Asia’s growth at its lowest since 1967, the World Bank warns. This...

Turkey has helped exporters with $260 mln in 2020

The government in 2020 so far has provided 1.78 billion Turkish liras ($260 million) to support exporters struggling amid the coronavirus pandemic, the country's...

Malawi: Gwengwe Commends Cotton Investment Companies

Minister of Trade, Sosten Gwengwe says he is impressed with the contribution cotton investment companies are making to boost the cotton industry in the...

The International Islamic Trade Finance Corporation Launches Four-Part Documentary Series on West African Cotton Sector

JEDDAH, Kingdom of Saudi Arabia, November 5, 2020/APO Group/  The International Islamic Trade Finance Corporation (ITFC) (ITFC-IDB.org), member of the Islamic Development Bank (IsDB)...
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