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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Aramco Acquires 70% Stake in SABIC from Saudi Arabia’s PIF

Saudi Aramco recently announced it has acquired a 70 per cent stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF),...

Angola: Free Zones to Facilitate National Investors

The Angolan Government has reaffirmed its commitment to accelerating economic growth through the creation of free trade zones, which will offer national and foreign...

Iran’s economy and the new parliament

Iran's parliament initiated its new term on May 27 as Iran's economy faces significant challenges. Although the prevalence of the Covid-19 virus has pushed...

Making Shahr-e-Aftab an FTZ on agenda

TEHRAN – Making Iran’s Shahr-e Aftab International Exhibition Center a free trade zone (FTZ) is on the agenda, the center’s managing director announced. Mohammad-Raouf Ghaderi...

Coronavirus cuts Iran’s GDP by 15%

TEHRAN - Iranian Finance and Economic Affairs Minister Farhad Dejpasand said coronavirus pandemic has caused the country’s gross domestic product (GDP) to shrink 15...

Turkey will be new normal global production hub

As the world emerges from the novel coronavirus pandemic in the period of "new normal" Turkey will be an alternative global power in production,...

Turkey’s exports ‘left worst behind’ in April: Minister

The Turkish exports neared $10 billion last month in the shadow of the coronavirus pandemic, down 40.9 percent from the same month last year,...

JAFZA CONDUCTS MASSIVE DISINFECTION DRIVE EQUIVALENT OF STERILISING 462 SOCCER FIELDS

The Full-Scale Disinfection Drive Aims To Facilitate Over 8,000 Companies Resume Full Operations in Dubai Dubai, United Arab Emirates, 3rd of June 2020: Jebel Ali...

China Lost Position in its Denim Apparel Exports to the US

The global denim apparel trade experienced a significant shift in early 2020 as the COVID-19 pandemic disrupted supply chains and reshaped sourcing patterns in...

Vietnam’s textile-garment exports drop with few orders29

Vietnam’s textile and apparel export turnover in 2020 is expected to reduce by a fifth compared to 2019 figures, according to the Vietnam National...
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