Fashion
EU FMs agree on road map for launching digital euro currency
The decision is expected to give the ministers a say on whether a digital currency is issued and how many such euros each resident will be able to hold, which is seen as crucial for assuaging fears of a run on bank deposits.
EU Finance Ministers recently met in Copenhagen and agreed on a road map for launching a digital euro currency that may turn an alternative to the US-based credit card systems.
The decision is expected to give the ministers a say on whether a digital currency is issued and how many such euros each resident will be able to hold.
A compromise was reached on the procedure for setting the holding limit.
The meeting was also attended by ECB president Christine Lagarde and European Commissioner Valdis Dombrovskis.
“The compromise that we reached is that before the ECB makes a final decision in relation to issuance…there would be an opportunity for a discussion in the Council of Ministers,” Paschal Donohoe, who chaired meetings of Finance Ministers, told a joint press conference.
Donohoe, Lagarde and Dombrovskis also celebrated a compromise on the procedure for setting the holding limit, without offering details, global media reported.
Discussions on a digital euro gathered momentum this year as the EU is now keen to reduce its dependence on other countries in strategically important sectors.
But the ECB is yet to secure legislative approval for it, with lawmakers and bankers complaining it may erode banks’ coffers, may prove expensive or reduce privacy.
Though the European Commission proposed digital euro legislation in June 2023, the other two institutions that have to sign off on it, the European Parliament and the European Council, have yet to do so. The Council aims at wrapping up its side of the work by the year end.
“The digital euro is not just a means of payment, it is also a political statement concerning the sovereignty of Europe and its capacity to handle payment, including on a cross-border basis, with a European infrastructure and solution,” Lagarde told the press conference.
“The digital euro must guarantee the strategic autonomy and resilience of our financial system in the face of external threats. In short, it is a tool to defend our financial sovereignty,” said Italian Minister of Economy and Finance, Giancarlo Giorgetti, calling the joint Commission-ECB proposal “a solid compromise, which takes into account political and economic factors”.
Giorgetti feels having clear and appropriate spending limits on holdings is essential as “it will encourage their use, prevent them from becoming a sort of store of value, and allow for a meaningful response to private sector concerns about the potential impact on financial stability.”
Today “we have reached a political agreement on how to define the entire process between the ECB and the member states. The hope is that the digital euro project will materialise quickly,” he added.
Fibre2Fashion News Desk (DS)
ICE December cotton futures settled at 64.54 cents per pound, down 0.69 cents.
ICE cotton futures declined amid weakness in US stocks and grains, with traders awaiting the USDA’s supply and demand report due on November 14, 2025.
Technology and AI-related stock losses and uncertainty around President Trump’s tariff policies further dampened sentiment.
Brazil’s October cotton exports rose 5 per cent year-on-year, while ICE deliverable inventories remained steady at 13,749 bales.
Market analysts noted that the fall in the stock market was the primary driver behind the decline. Weakness in grain prices added further pressure on cotton values. US stocks closed lower on Thursday, extending losses from earlier in the week. Technology and AI-related stocks led the declines due to concerns about overvaluation and economic uncertainty.
The US Supreme Court heard arguments challenging President Trump’s broad tariff policies, heightening global trade concerns. US Trade Representative Greer stated that some plaintiffs could receive refunds if the court rules against the tariffs, subject to Treasury’s scheduling.
CBOT soybean futures fell sharply as optimism over renewed demand weakened following signs of easing trade tensions.
Traders are now focused on the USDA’s delayed monthly supply and demand report, scheduled for release on November 14, 2025. Despite the ongoing US government shutdown, the USDA confirmed it is collecting survey data for upcoming crop yield reports.
Brazil’s cotton exports totalled 293,928.51 tons in October, up 5 per cent year-on-year, with daily shipments averaging 13,360.39 tons, also up 5 per cent.
ICE data showed deliverable No. 2 cotton futures inventory unchanged at 13,749 bales as of November 05, 2025.
This morning (Indian Standard Time), ICE cotton for December 2025 traded at 64.66 cents per pound (up 0.12 cent), cash cotton at 62.04 cents (down 0.69 cent), the March 2026 contract at 65.90 cents (up 0.13 cent), the May 2026 contract at 67.11 cents (up 0.13 cent), the July 2026 contract at 68.07 cents (unchanged), and the October 2026 contract at 68.08 cents (down 0.51 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.
Fibre2Fashion News Desk (KUL)
Published
November 7, 2025
Global fashion retailer Mango has opened its first store in Aberdeen at the Union Square shopping centre, creating 20 new jobs. It’s the ninth store in Scotland, as Mango looks to strengthen its presence there.
Mango also said the opening forms part of its ongoing ambitious expansion strategy, which aims to open a further 500 stores globally between 2023 and 2026, including 20 in the UK this year
The 4,844 sq ft store features the brand’s now-standard New Med design concept, inspired by the brand’s Mediterranean heritage and culture, alongside Mango’s latest womenswear collection, including clothing, footwear and accessories.
This latest opening forms part of Mango’s 2024-2026 strategic plan, which aims to drive sales and store expansion, including an ambitious roadmap to expand Mango’s store presence across the UK, “a priority growth market”.
Fiona Cullen, International Regional director for the UK & Ireland, said: “Our new Mango Woman store in Aberdeen is a confident step forward for Mango, building on the strong progress we have made over the last year to broaden the appeal of Mango to even more customers across the UK. Aberdeen is the perfect new home to introduce our womenswear collection to the more Scottish customers, in a store format that truly represents the Mediterranean soul of our brand.”
The expansion plan builds on Mango’s strong performance. In July the Spanish brand reported global turnover of €1.73 billion (£1.52 billion) inforthe first half of 2025, up 12% year on year (14% at constant exchange rates). It noted the growth was driven by “the popularity of its collections and new store openings”.
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