The US Federal Reserve (Fed) has left its benchmark interest rate unchanged for the third meeting in a row amid a solid expansion of economic activity, persistent inflation, low job gains and little change in unemployment rate in recent months.

The Federal Open Market Committee voted to hold the benchmark funds rate in a range between 3.5-3.75 per cent.

The committee seeks to achieve maximum employment and inflation at 2 per cent rate over the longer run.

The US Federal Reserve (Fed) has left its benchmark interest rate unchanged for the third meeting in a row amid a solid expansion of economic activity, persistent inflation, low job gains, and little change in unemployment rate in recent months.
Developments in the Middle East are contributing to a high level of uncertainty about the economic outlook.

Developments in the Middle East are contributing to a high level of uncertainty about the economic outlook, the Fed said in a press release.

Fed chair Jerome Powell, due to step down in mid-May, told a press conference that he plans to continue to serve on the board of governors until an investigation of the Fed is “well and truly over with transparency and finality.” He may remain governor until 2028. 

Fibre2Fashion News Desk (DS)

Fashion brand Mo’Afrique recently commissioned a multi-million-dollar garment factory in Nigeria’s capital Abuja as it launched the Modish Formal garments brand.

It also launched the Modish Scholars Initiative to provide uniforms to underprivileged children in public schools.

Fashion brand Mo’Afrique recently commissioned a multi-million-dollar garment factory in Nigeria’s capital Abuja as it launched the Modish Formal garments brand.
It also launched the Modish Scholars Initiative to provide uniforms to underprivileged children in public schools.
The factory marks a strategic shift from luxury fashion into industrial-scale manufacturing.

The development reflects the Nigerian government’s industrialisation agenda, Minister of Industry, Trade and Investment Jumoke Oduwole, said at the launch event, stressing that the scale must translate into competitiveness, jobs and exports.

The administration is prioritising policies to support manufacturers, while leveraging regional trade opportunities, she was cited as saying by domestic media outlets.

The factory marks a strategic shift from luxury fashion into industrial-scale manufacturing.

The facility is designed for high-volume production targeting institutional buyers including the military, paramilitary agencies, schools and corporate bodies.

Fibre2Fashion News Desk (DS)

A high-level Chinese delegation held talks with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to explore foreign direct investment (FDI) and technology collaboration in Bangladesh’s textile sector, with a focus on man-made fibres, synthetic textiles, and advanced processing.

A Chinese delegation met BGMEA to explore foreign direct investment (FDI) and technology partnerships in Bangladesh’s textile sector, focusing on MMF, synthetic fibres and technical textiles.
Bangladesh highlighted its $8–9 billion fabric import market as a key opportunity.
Talks also covered sustainability, training and B2B linkages to boost sector modernisation.

The delegation included senior representatives from the China National Textile and Apparel Council (CNTAC) and the China Dyeing and Printing Association (CDPA), along with leaders from major dyeing, printing, finishing, and chemical firms. The meeting took place at the BGMEA Complex and was led by BGMEA President Mahmud Hasan Khan, alongside senior office-bearers and directors.

Discussions centred on expanding cooperation, particularly China’s role in supporting technological modernisation of Bangladesh’s textile industry. Khan described China as a key long-term partner and urged Chinese companies to invest in high-growth segments such as MMF and technical textiles. He highlighted Bangladesh’s $8-9 billion annual woven fabric import market as a significant opportunity for investors.

He also encouraged Chinese firms to pursue investments independently or through joint ventures, assuring BGMEA’s full support. Additionally, he pointed to benefits under the Bangladesh–Japan Economic Partnership Agreement, which could enable duty-free exports to Japan for Chinese-backed ventures based in Bangladesh.

Technology transfer was a major focus, with calls for regular training and knowledge-sharing in areas such as digital printing and synthetic fabric processing. Sustainability was also discussed, with Bangladesh seeking to leverage China’s expertise in eco-friendly dyeing and finishing technologies.

To strengthen business linkages, the Chinese delegation was asked to share company profiles and production capacities to facilitate B2B engagement with BGMEA members. The visiting team also toured several local dyeing and printing units during their visit.

Both sides reaffirmed their commitment to deepening collaboration, aiming to drive sustainable growth and long-term development in the textile and garment sectors.