Economy News

Change of Leadership at Rieter

Thomas Oetterli has decided to step down from his function as CEO, effective October 31, 2026, and hand over the Chairmanship of the Board of Directors. “After the successful implementation...

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...

India-New Zealand FTA Creates US$2 Billion Export Opportunity for Indian Textile Industry

India's textile and apparel industry is expected to benefit significantly from the forthcoming India-New Zealand Free Trade Agreement...

NCTO Voices Concerns Regarding USTR’s Textile Mechanism, Part of Administration’s Section 301 Actions on Forced Labor

The National Council of Textile Organizations (NCTO), which represents the full spectrum of the U.S. textile industry from...

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Azerbaijan Chamber of Commerce & Industry plans to take part in European project

The Azerbaijan Chamber of Commerce and Industry plans to take part in the European Chamber's project within Eastern Partnership (EaP), Azerbaijan’s chamber. The organization is...

Iran exports $800m of goods to Iraq in a month

TEHRAN – Iran’s non-oil exports to Iraq in the Iranian calendar month of Ordibehesht (April 20-May 20) reached $800 million, Tasnim news agency reported,...

Siemens Energy signs Al Hamudhia 400kV Substation contract with Iraqi Ministry of Electricity

• Providing reliable power supply to Ramadi, Fallujah, Saqlawyah, Khalediyah cities and surrounding areas in Al Anbar governorate • Enabling efficient transmission and higher utilization...

Iran’s industry sector experienced a 2.1-percent growth during the past year

Iran’s industry sector experienced a 2.1-percent growth during the past Iranian calendar year (ended on March 19) as the country managed to support and...

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,...
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