Economy News

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 fiber, yarn, and fabric production to finished sewn products issued the...

U.S. Textile and Apparel Industry Unites Behind New Trade Incentive Proposal

For the first time in recent years, leading U.S. textile manufacturers, apparel brands and retailers have jointly proposed...

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...

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...

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India’s Economic Survey projects 7-7.5% growth in 2018-19

Reforms will allow real gross domestic product growth in India to reach 6.75 per cent this fiscal and will rise to 7-7.5 per cent...

UAE Has the Lowest VAT Regionally and Globally

The UAE has the lowest VAT regionally and globally, compared to countries such as UK, Switzerland, Germany, Mexico, South Africa and Australia, according to...

Reduction in tax for MSMEs to benefit TN textile firms

The reduction of corporate tax to 25 per cent for companies with turnover upto Rs 250 crore will benefit textile and garment firms in...

E-commerce platform for artisans in India’s Kashmir

The government in India’s Jammu and Kashmir state is introducing an e-commerce platform for artisans and weavers to boost export of handicrafts and handloom...

Saudi foreign reserves rise for third straight month

The Saudi Arabian central bank’s foreign reserves rose in December for a third consecutive month, a sign that higher oil prices may be easing...

Multi-industry event for plastics, Printing & Packaging Open at Expo Centre Sharjah

With the region looking at increasing its downstream capabilities as part of its economic diversification policies, the regional plastics, molds, printing and packaging industries...

Turkey, Qatar, Iran to discuss land trade routes

Ankara, Doha and Tehran will discuss land trade routes on the sidelines of the oath-taking ceremony of Iran’s president-elect Hassan Rouhani on Saturday, Turkish Economy Minister...

RBI keeps repo rate unchanged at 6%

In its sixth bi-monthly Monetary Policy Statement for 2017-18, the Reserve Bank of India (RBI) has kept the policy repo rate under the liquidity...

Iran’s Rouhani sees major economic growth next year

Iran’s President Hassan Rouhani promised high economic growth as he laid out next year’s budget on Sunday, despite uncertainty over whether the United States...

The sorry tale of Iran’s duped investors

With the recent bankruptcy and collapse of banks, financial institutions and the social security system in Iran, millions of domestic deposit holders and investors...
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