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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US sets new March 2 Date For China Tariff Rise Amid Talks

The US Trade Representative’s (USTR) office recently changed the scheduled date of a tariff rate rise to 25 per cent from 10 per cent on $200...

Pakistan-Italy MoU to expand economic, trade cooperation

Pakistan-Italy MoU :: Pakistan and Italy recently signed a memorandum of understanding (MoU) to enhance economic and trade cooperation in various sectors including agriculture, textile, clothing, leather,...

1st specialized free zone for textile industry in Egypt

The world’s first specialized free zone for the textile industry is under construction in Egypt’s Minya Governorate, the chief executive officer of the General...

Morocco’s Exports to Spain up 6.7 % in First Seven Months of 2018

Morocco’s exports to Spain increased by 6.7% in the first seven months of 2018 compared with the same period last year, the EU statistics...

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman Mohamed Alabbar and Saudi Arabia's sovereign wealth fund, has entered into a partnership with...

Russian giant mining co. ready to commence co-op with Iran

Ural Mining and Metallurgical Company (UMMC), one of the top Russian producers of major minerals including copper, zinc, coal, gold and silver, has voiced...

Non-oil Trade Balance Close to $1b in 2 months

Iran’s non-oil trade with other countries registered a $942 million positive balance in the two-month period from March 21 to May 21, Tasnim news...

Iran’s Economic Promise Faces Uncertainty After U.S. Withdrawal from Nuclear Deal

Emerging Potential Overshadowed by Political Tensions Iran possesses enormous economic potential, yet the U.S. decision under President Donald Trump to withdraw from the P5+1 nuclear...

EU commissioner in Iran in bid to protect trade ties

EU Energy Commissioner Miguel Arias Canete arrived in Tehran on Saturday to present plans for continuing oil and gas purchases and protect European companies...

Turkey’s lira hits record low, Fitch sounds alarm over Erdogan’s policy drive

Turkey’s lira hit a record low for the third straight session on Tuesday, battered by deepening concerns about President Tayyip Erdogan’s grip on monetary...
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