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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TGSD Declared Open Call to Intl Brands About Fighting Against COVID-19

Turkish Clothing Manufacturers’ Association Board (TGSD) Declared Open Call to Global Brands About the Process of Fighting Against COVID -19 In the last four weeks,...

Turkey’s textile exports to recover soon: trade minister

Turkey's exports , which have been falling due to a decline in demand overseas, will soon start recovering, according to trade minister Ruhsar Pekcan,...

SABIC Q1 FY20: sales slip to SR 31 billion

Saudi Basic Industries Corp (SABIC) , a chemical manufacturing company, posted 18 per cent sales decrease to SR 30.8 billion (Saudi Riyals) in first...

Domestic production to save Iran over $3b in a year

TEHRAN- Iran Domestic production of industrial and mining products is planned to save the country over $3 billion in the current Iranian calendar year...

Iran bans export of medical products over coronavirus outbreak

TEHRAN – Iran has banned export of some self-protection equipment, textile and cellulose products as the country tries to meet surging demand of the...

Iran Industry Ministry plans to save $3.3b by surge in production

TEHRAN- Domestic production of industrial and mining products is planned to save the country over $3.3 billion in the current Iranian calendar year (began...

the International Labour Organisation calls for protecting workers after lockdown

As pressure mounts on countries to ease lockdown restrictions, the International Labour Organisation (ILO) recently urged governments to take action to prevent and control...

USITC to identify imports needed for Covid-19 response

The US International Trade Commission (USITC) has instituted an investigation that will identify imported products that may be needed to respond to the Covid-19...

S Asia might experience worst performance in 40 years

The unfolding economic crisis due to the ongoing Covid-19 pandemic is unique in several ways, and South Asia might experience its worst economic performance...

IMF: Global downturn ‘way worse’ than financial crisis

The COVID-19 pandemic has brought the global economy to a standstill and plunged the world into a recession that will be ‘way worse’ than...
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