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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Nigeria to Showcase Trade Prospects at Türkiye-Africa Forum 2025

Nigeria is set to take centre stage at the upcoming Türkiye-Africa Business and Economic Forum (TABEF) 2025, with the Chairman of the Nigeria-Türkiye Business...

Behind the Surge of Fabric Imports: A Serious Alarm for Iran’s Textile Industry

Iran’s textile industry has long been struggling with numerous challenges — from outdated machinery and insufficient investment in modern technologies to smuggling and uncontrolled...

New Zealand and Saudi Arabia Launch Business Council to Boost Trade Ties

New Zealand’s Minister for Trade and Investment, Todd McClay, and Saudi Arabia’s Minister of Investment, Dr. Majid bin Abdullah Al-Kassabi, have signed a joint...

Vandewiele Group at ITMA ASIA Singapore 2025

At ITMA ASIA Singapore 2025, Vandewiele Group brands will converge to showcase breakthrough technologies across weaving, spinning, knitting, finishing, and digital solutions. From carpet...

Pakistan’s Textile Exports Rise Nearly 10% to $3.2 Billion in July–August

Pakistan’s textile exports, the backbone of its economy and a key supplier to global fashion brands, rose nearly 10 percent year-on-year to $3.2 billion...

Africa Awaits AGOA Lifeline as Extension Hangs in the Balance

As the African Growth and Opportunity Act (AGOA) nears its scheduled expiration on September 30, 2025, African nations—particularly those with textile-driven economies—are anxiously awaiting...

Garanti BBVA and Ivy Decarb Partner to Finance Textile Industry’s Green Transition

Garanti BBVA, the Turkish unit of Spain’s BBVA, has partnered with Ivy Decarb Marketplace to accelerate decarbonization in Turkey’s textile sector. The initiative will...

Swedish Group Invests $1 Billion to Make Vietnam a Global Hub for Textile Recycling

Vietnam’s textile industry is on the verge of a groundbreaking transformation. The Swedish group SYRE, a joint initiative of global fashion brand H&M and...

Türkiye–Africa Business and Economic Forum to Be Held in Istanbul

The Türkiye–Africa Business and Economic Forum (TABEF) will convene for the fifth time on October 16–17, 2025, in Istanbul, hosted by Türkiye’s Ministry of...

Pakistan’s Textile Exports Maintain Growth Momentum Despite Short-Term Volatility

Pakistan’s textile industry, which accounts for nearly 63% of the country’s total exports, continues to be the backbone of the economy. According to the...
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