BIZ NEWS JANUARY 25, 2024: Namibian Government Rules Out Immediate National Airline, Hints at Regional Carrier Future

In the wake of Air Namibia’s 2021 liquidation, the Namibian government has officially dismissed any immediate plans for a new national airline. Works and Transport Minister John Mutorwa conveyed this decision, while also offering a glimpse of hope for the emergence of a future Namibian-flag carrier. Mutorwa hinted at the possibility of a smaller, regional airline taking flight down the line. [Read more]

South Africa’s Inflation Sees Further Decline in December, Lowest Since August

South Africa witnessed a consecutive easing of annual consumer price inflation in December, dropping from 5.5% in November to 5.1%. This marks the lowest percentage since August, attributed to reduced fuel prices leading to a decline in transport costs. [Read more]

Nigeria’s Central Bank Aims for 21% Inflation Reduction and Naira Strengthening

Governor Olayemi Cardoso of Nigeria’s central bank unveiled plans to target a significant reduction in inflation to around 21%. Additionally, the central bank is committed to fortifying the country’s undervalued currency, the naira, as preparations are underway for the upcoming rate-setting meeting next month. [Read more]

Asian Markets Tread Cautiously as Investors Await China’s Stimulus Plans

Thursday saw a cautious trading pattern in Asian stocks, accompanied by a bond decline as investors eagerly awaited further details on China’s stimulus plans. Attention shifted to the European Central Bank meeting scheduled for later in the session. The U.S. dollar rebounded from earlier lows following a survey indicating an uptick in U.S. business activity for January. [Read more]

Financial Indicators:

Title: Latest Financial Indicators – Currency Exchange Rates, Gold, Brent Crude, and Bitcoin

Let’s take a look at the latest financial indicators:

• Namibia Dollar: 18.91 to the US$, 20.59 to the Euro, and 24.06 to the Pound.
• Gold: Trading at N$2,013.38 per fine ounce.
• Brent Crude: Stands at N$79.55 per barrel.
• Bitcoin: Priced at N$755,646.64.