INSIGHTS Adidas is expecting its 2025 operating profit to reach €1.7–1.8 billion (~$1.82–1.93 billion), driven by strong brand momentum, localised strategies, and improved efficiencies. In Q1 2025, revenue rose 13 per cent YoY to €6.15 billion (~$6.58 billion), led by robust growth across regions, product categories, and channels. Operating profit surged 82 per cent to €610 million (~$652.7 million). German sportswear brand Adidas has projected its operating profit

INSIGHTS The US Fed's Financial Stability Report counts rising global trade risks, general policy uncertainty and the US debt sustainability among the key potential risks to the US financial system. While half of the respondents cited policy uncertainty as a top concern, 73 per cent cited global trade risks. The banking system is sound and resilient as firms maintained robust capital ratios, it noted. The US Federal Reserve’s (Fed) latest biannual Financial Stability Report counts risin

INSIGHTS ICE cotton futures rebounded on April 22, 2025, supported by rising crude oil prices, a weaker US dollar, and gains in equity markets. The July 2025 contract rose 0.40 cent to 67.22 cents/lb. Higher oil raised polyester costs, aiding cotton's competitiveness. Trading volume surged, while deliverable stocks remained unchanged. Brazil's March cotton exports dipped 5 per cent YoY. ICE cotton futures recovered yesterday, supported by a rebound in the stock market, rising crude oil prices

INSIGHTS IAF has warned against the damaging impact of US punitive tariffs on global apparel supply chains, especially affecting China. While welcoming a partial pause, IAF has stressed that tariff uncertainty continues to destabilise the industry, discourage investment, and threaten livelihoods. It has called for collaborative, sustainable supply chain strategies and urges brands to honour commitments. The International Apparel Federation (IAF) represents the apparel manufacturing community

INSIGHTS ICE cotton futures rose yesterday, boosted by US President Trump's plan to ease tariffs on Chinese goods, which improved market sentiment. The July 2025 contract closed at 69.03 cents per pound, up 1.81 cents, while the back contracts saw mixed results. Trading volume surged, and stronger directional trading was noted. Fed's support and Trump's stance further reinforced cotton prices. ICE cotton futures continued to rise yesterday, supported by indications that US President Donald Tr

INSIGHTS The global economy is projected to grow at 2.7 per cent in 2025, down from 3.2 per cent in 2024, with the US economy stalling due to new tariffs and policy uncertainty. Inflation is expected to peak at 4.5 per cent, while unemployment rises. Canada and Mexico face challenges from US trade actions, and China's growth falls short of targets. Risks to the outlook remain, including a potential US recession. The global economy remains on track to grow this year, but the outlook has deteri

INSIGHTS High US tariffs on goods from China will “come down substantially, but it won't be zero”, President Donald Trump said yesterday. “We're doing fine with China,” he said. Trump's remarks followed reported comments at a private conference by treasury secretary Scott Bessent earlier in the day about the high tariffs being 'unsustainable' and that he expects a 'de-escalation' in the US-China trade war. High US tariffs on goods from China will “come down subst

INSIGHTS China's e-commerce sector grew steadily in Q1 2025, supported by pro-consumption policies like a major trade-in programme. Online retail sales hit 3.6 trillion yuan (~$499.6 billion), with physical goods up 5.7 per cent and digital product sales rising 7.4 per cent. Over 10 e-commerce platforms helped bring quality foreign trade goods to domestic markets. China's e-commerce sector witnessed steady growth in the first quarter of 2025 (Q1 2025), driven by government efforts to stimula

INSIGHTS IAF has warned against the damaging impact of US punitive tariffs on global apparel supply chains, especially affecting China. While welcoming a partial pause, IAF has stressed that tariff uncertainty continues to destabilise the industry, discourage investment, and threaten livelihoods. It has called for collaborative, sustainable supply chain strategies and urges brands to honour commitments. The International Apparel Federation (IAF) represents the apparel manufacturing community

INSIGHTS While the pause on US reciprocal tariffs led to strong initial rebounds in financial markets, market conditions remain choppy and risk aversion is high, S&P Global Market Intelligence said. The chronic problems of US policy volatility, related uncertainties and adverse economic spillovers are likely to linger. It lowered its 2025 global real GDP growth forecast from 2.5 per cent to 2.2 per cent. While the pause on US reciprocal tariffs led to strong initial rebounds in financial m