Fashion
Eurasian economies to grow by up to 9.3% in 2026: EDB
Eurasian economies are set to expand by as much as 9.3 per cent in 2026, supported by resilient domestic demand and investment activity, according to the latest Macroeconomic Outlook for 2026–2028 released by the Eurasian Development Bank (EDB).
Globally, the EDB expects the economy to grow at a slightly slower pace than in 2024–2025 as countries adjust to new trade restrictions. US GDP growth is forecast at around 1.6 per cent in 2026, while the eurozone economy is expected to expand by 1.1 per cent. China is projected to grow 4.6 per cent, underpinned by measures to stimulate domestic demand.
The Bank projects aggregate GDP growth of 2.3 per cent across its seven member states in 2026, despite slower global economic expansion and persistently high interest rates. Growth is forecast at 5.3 per cent in Armenia, 1.8 per cent in Belarus, 5.5 per cent in Kazakhstan, 9.3 per cent in the Kyrgyz Republic, 1.4 per cent in Russia, 8.1 per cent in Tajikistan and 6.8 per cent in Uzbekistan.
Commodity markets are expected to show mixed trends. Lower oil prices may constrain export revenues in energy-producing economies such as Kazakhstan and Russia, while benefiting oil-importing countries by improving terms of trade and moderating inflation, EDB said in a release.
The EDB expects the region’s economic growth to stabilise after slowing to 1.9 per cent in 2025 from 4.5 per cent in 2024. Inflation across the region is forecast to ease gradually to 6.3 per cent in 2026, reflecting prudent monetary policies and the absence of major external shocks.
Eurasian economies are expected to record growth of up to 9.3 per cent in 2026, led by strong investment and domestic demand, according to the Eurasian Development Bank.
While global growth remains moderate and interest rates stay elevated, Central Asian countries are projected to outperform.
Regional GDP growth is forecast at 2.3 per cent, with inflation gradually easing.
Fibre2Fashion News Desk (HU)
Fashion
Inflation may fall below 7% by Jun 2026: Bangladesh’s interim govt
The assessment was made at a recent meeting chaired by chief adviser Muhammad Yunus, who reviewed the country’s overall economic performance and budgetary outlook with senior policymakers.
Inflation has already shown signs of easing after a prolonged period of pressure driven by currency weakness, supply disruptions and global price shocks.
Bangladesh’s inflation may drop below 7 per cent by next June amid contractionary monetary policy, fiscal restraint and improving balance across primary economic indicators, the government feels.
Inflation has already shown signs of easing after a prolonged period of pressure.
The government believes if inflation continues to fall while wage growth remains steady, purchasing power could recover further.
Tighter monetary conditions and fiscal discipline were beginning to yield results, with policymakers expressing confidence that inflation would continue to moderate over the coming months, domestic media outlets reported citing the minutes of the meeting.
Based on a 12-month average, overall inflation fell below 9 per cent in November this year for the first time since June 2023.
Point-to-point inflation had crossed the 9-per cent threshold in March 2023, peaking at 9.33 per cent.
However, it dropped below 9 per cent again in June 2025 and declined further to 8.29 per cent in November 2025.
One of the most politically sensitive issues discussed was the long-standing gap between inflation and wage growth, which has eroded real incomes in recent years. For much of the past decade, rising prices have outpaced wage increases, leaving households poorer despite nominal income gains.
The government believes that if inflation continues to fall while wage growth remains steady, purchasing power could recover further during the current fiscal.
The meeting was informed about a marked improvement in Bangladesh’s external position. As of December 18, gross foreign exchange reserves stood at $32.57 billion—up sharply from about $25 billion in August 2024.
The increase was attributed to a more stable exchange rate, stronger remittance inflows and higher interest rates in the domestic financial sector, which have helped curb capital flight and encourage formal inflows. Reserves are expected to rise further in the coming months.
The current account, which had recorded persistent deficits from fiscal 2016-17 to fiscal 2023-24, has also shown signs of stabilisation.
Remittance inflows have been bright. Import growth has also revived after prolonged restrictions imposed to conserve foreign exchange.
Fibre2Fashion News Desk (DS)
Fashion
Mushroom insulation emerges as top solution for EU textile waste
Fashion
Creative director Dario Vitale quits Versace after Prada’s acquisition
The announcement comes two days after Prada Group finalised its $1.375 billion cash acquisition of Versace.
Meanwhile, chief executive officer Emmanuel Gintzburger will oversee the creative team, according to European media outlets.
Only eight months after Dario Vitale was appointed creative director of Italian fashion brand Versace, the company said he will quit on December 12 and his successor will be announced in due course.
The announcement comes two days after Prada Group finalised its $1.375 billion cash acquisition of Versace.
Meanwhile, CEO Emmanuel Gintzburger will oversee the creative team.
Vitale was the third creative director after Gianni Versace, who was killed in 1997, and his sister Donatella Versace, who assumed the role after his death until Vitale took over.
His first collection for the house debuted in September.
Fibre2Fashion News Desk (DS)
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