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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The World’s Biggest Carpet Fair: ICFE 2026 Combines Commerce with Design and Art

ICFE (International Carpet & Flooring Expo) -the global meeting point of the carpet industry- is preparing to open its doors for the third time...

Turkmenistan’s “Serdar” Spinning Mill Strengthens Its Position in Global Yarn Market

The «Serdar» cotton spinning mill, operating under the Ministry of Textile Industry of Turkmenistan and located in Dashoguz, continues to consolidate its reputation as...

What Is rPET?

As sustainability becomes a priority in the textile industry, rPET has emerged as one of the most impactful innovations of recent years. Made from...

Egypt’s Textile Producers Decry Aggressive Marketing by Competitors

Egypt’s textile manufacturers are raising concerns over what they describe as increasingly aggressive marketing tactics from foreign competitors—particularly from Turkey—warning that these practices threaten...

A Deep Look into the Fuel and Energy Consumption in the Textile Industry

The global textile and fashion industry, valued at nearly one trillion dollars, remains one of the most energy-intensive and resource-hungry sectors of the modern...

Afghanistan Announces Growth in Manufacturing Sector as Number of Factories Reaches 6,000

The Ministry of Industry and Commerce of Afghanistan has announced a significant expansion in the country’s industrial sector, confirming that the number of active...

Morocco and Egypt Emerge as New Global Garment Manufacturing Powerhouses

As global apparel brands reassess sourcing strategies amid rising production costs and shifting supply chains in Asia, two North African nations—Morocco and Egypt—are rapidly...

Cameroon Set to Launch Camtext SA, a $300 Million Cotton-to-Textile Mega Project

A high-powered consortium—comprising Panafritex (the textile arm of Arise), Sodecoton, CNPS, and Marlo Properties Fincorp—is preparing to launch Camtext SA, a major integrated cotton-to-textile...

AfDB Approves $100 Million Loan to EAAIF to Accelerate Sustainable Infrastructure Development in Africa

The African Development Bank Group has approved a $100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF), strengthening efforts to expand...

Japanese Investment in Bangladesh Rises Strongly, Offering Major Opportunities for the Textile and Apparel Sector

Despite political tension and uncertainty following the July uprising, Bangladesh continues to emerge as a top destination for Japanese investors — with the textile...
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