Fashion
EC approves ~$477.36m Spanish scheme for industrial decarbonisation
Spain notified the commission, under the CISAF, a €408 million (~$477.36 million) scheme to support the decarbonisation of the manufacturing industry, which contributes to the objectives of the Clean Industrial Deal. The scheme will be fully financed by the RRF, following the commission’s positive assessment of Spain’s recovery and resilience plan and its adoption by the council.
The EC has approved a €408 million ($477.36 million) Spanish scheme under the Clean Industrial Deal to support industrial decarbonisation, funded by the Recovery and Resilience Facility.
The scheme will provide grants for energy-efficient, low-carbon technologies across sectors, aiming to cut 1.6 megatonnes of CO₂ annually, with aid capped at €200 million(~$234 million) per project.
The purpose of the scheme is to support the decarbonisation of manufacturing processes in existing installations through the deployment of investments contributing to reductions of greenhouse gas (GHG) emissions from industrial activities, and the improvement of the energy efficiency of industrial processes, the European Commission said in a press release.
Spain expects annual GHG emission savings of around 1.6 megatonnes of CO2. The measure will support investments into technologies such as electrification, shifting to renewable or low-carbon hydrogen, recovery of waste heat, carbon capture, storage and utilisation, in a wide range of sectors including chemicals, ceramics, paper and metallurgy. Under the scheme, the aid will take the form of direct grants. The measure will be open to enterprises of all sizes, and to installations and sectors within and outside of the Emission Trading System.
The commission found that the Spanish scheme is in line with the conditions set out in sections 3 and 5 of the CISAF.
Under the scheme, the aid amount is determined based on the eligible investment costs and pre-defined aid intensities (the percentage of supported costs), in line with the CISAF. Aid will be granted to eligible projects on a first-come, first-serve basis until the budget is exhausted. Projects need to be in operation at the latest 60 months after the aid is granted. To limit the undue distortion of competition, the aid cannot be used to finance an increase in the production capacity of the beneficiary. The maximum aid amount per company per project is capped at €200 million (~$234 million).
Fibre2Fashion News Desk (RR)
Current account excluding gold and energy indicated net deficit of $3.9 billion, while goods saw a deficit of $9.5 billion.
Turkiye recorded a current account deficit (CAD) of $9.6 billion in March, the country’s central bank said.
Treasury and Finance Minister Mehmet Simsek said the CAD is expected to widen this year, due to high energy and non-energy commodity prices.
Simsek said the deterioration is likely to remain temporary and manageable, thanks to stronger macroeconomic fundamentals and policy gains.
According to annualised data, current account deficit recorded as $39.7 billion (2.6 per cent of gross domestic product) in March, while the goods deficit recorded as $77.8 billion.
Simsek said the deterioration is likely to remain temporary and manageable thanks to stronger macroeconomic fundamentals and policy gains, domestic media outlets reported.
Turkiye is heavily reliant on imported energy, whose prices spiralled due to the Middle East conflict.
Simsek said elevated global commodity prices would put pressure on the external balance, but emphasised that the government’s economic programme had improved resilience against such shocks.
He said foreign direct investment (FDI) inflows totalled $1 billion in March, bringing annualised foreign direct investment to $12.6 billion.
The new investment incentive package under discussion in parliament now is expected to strengthen the country’s financing structure and support long-term capital inflows, he added.
Fibre2Fashion News Desk (DS)
During the first quarter of ****, the UK’s imports of textile fabrics eased down *.** to £*,*** million (~$*,*** million), against £*,*** million in January-March **** but slightly higher from £*,*** million in the fourth quarter of ****. Its imports of fibre were noted at £** million (~$***.** million) steady as £** million in Q*, **** but slightly lower than £** million in Q*, ****.
During the third month of this year, the country’s clothing imports declined *.** per cent to £*.*** billion (~$*.*** billion), compared with £*.*** billion in March ****. But the inbound shipment was slightly higher month on month compared with £*.*** billion in February ****.
Higher rents, utility bills and fuel prices are eating away at already thin profit margins, it found.
High inflation is cutting deep into Bangladesh consumer spending, with weak demand turning one of the biggest concerns for businesses, DCCI said.
Higher rents, utility bills and fuel prices are eating away at already thin profit margins.
DCCI’s economic position index revealed that consumers have sharply reduced spending as the cost of living continues to rise.
SMEs are feeling the pressure the most.
The chamber’s economic position index (EPI) revealed that consumers have sharply reduced spending as the cost of living continues to rise, putting pressure on retailers, transport operators and other service providers.
Small and medium enterprises (SMEs) are feeling the pressure the most as they struggle to manage higher operating costs without losing customers.
Businesses also cited difficulties in obtaining bank loans, while delays in licensing and other regulatory procedures are adding to costs.
The DCCI report identified a shortage of skilled workers, particularly in technical and customer service roles, as another challenge for the sector.
The country’s inflation rose to 9.04 per cent in April from 8.71 per cent in March, according to official statistics.
Fibre2Fashion News Desk (DS)
Turkiye’s current account deficit expected to widen in 2026: Minister
UK’s clothing imports fall 3% in Q1, sharply lower than Q4 2025
RBI sees no signs of excess credit risk, keeps countercyclical capital buffer inactive
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