Democratic Alliance Asserts That South Africa’s Economy Faces Further Decline

Democratic Alliance Asserts That South Africa’s Economy Faces Further Decline

In South Africa, the DA claims poor policies have caused the economy to decline further. The party says the first quarter of this year saw our economy slip back into contraction, as confirmed by Statistics South Africa. This follows a narrow escape from a technical recession the previous quarter. The Treasury National budget projected a 1.3-percent growth rate in February. The DA’s, Dion George says despite being low and uninspired, […]

June 5, 2024 22

Business / Economics

NZ Budget 2024: tax cuts and borrowing don’t always fuel inflation – but Nicola Willis has to get the balance right

LazingBee/Getty Images By Dennis Wesselbaum, University of Otago On the eve of the first budget from the National-ACT-New Zealand First coalition government, there is ongoing debate over whether borrowing while offering tax cuts could trigger a rise in inflation. Finance minister Nicola Willis has confirmed the budget will introduce “meaningful but modest” tax relief. But what impact will these cuts have on New Zealand’s economy? During the […]

June 5, 2024 16

Sport

Hope returns for hosts Germany ahead of Euro 2024

Host nation Germany are riding a resurgent wave of hope with the Euro 2024 tournament opener against Scotland just days away. After two group stage World Cup exits in a row and a loss to England in the last 16 of the Euros in 2021, Germany suffered a dire 2023, with just three wins in 11 games. Many in Germany predicted an embarrassing early exit for the three-time […]

June 5, 2024 12

World

Biden Enacts Restrictive Immigration Policy

U.S President Joseph Biden has signed his most restrictive immigration policy yet, halting asylum requests at the southern border if crossings exceed a daily average of 2,500 people over a week. Exceptions include unaccompanied children and humanitarian cases. This move aims to demonstrate Biden's toughness on illegal immigration as Donald Trump focuses on mass deportations in his campaign, framing immigration as a central issue. From Washington, Benji Hyer […]

June 5, 2024 19

Business / Economics

South Africa’s Economy Contracts in Q1 of This Year

South Africa's economy recorded a slight contraction in the first quarter of 2024, impacted by a decline in the mining and construction sectors, according to data from the statistics agency on Tuesday as reported by Reuters. Gross domestic product shrank by 0.1% quarter-on-quarter in seasonally adjusted terms, contrary to economists' expectations of 0.1% growth. On a year-on-year basis, the economy grew by 0.5%, slightly below the predicted 0.6% growth.

June 5, 2024 12

Africa

Nigerian Labour Unions Suspend Strike to Negotiate New Minimum Wage

Nigeria's main labour unions suspended an indefinite strike for a week on Tuesday to continue negotiations with the government over a new minimum wage, following recent reforms that spiked inflation and exacerbated the cost of living crisis, Reuters reports. The Nigerian Labour Congress and the Trade Union Congress had shut down the national grid and disrupted flights nationwide on Monday, initiating the strike due to the government's failure to agree […]

June 5, 2024 7

Sport

Scotland eye history at Euro 2024 despite form and fitness fears

Scotland will be roared on at Euro 2024 by a travelling Tartan Army of up to 200,000 fans, but they travel to Germany in hope more than expectation after a testing time for Steve Clarke's men. In October, Scotland secured qualification for just a second major tournament in 26 years but before Monday's 2-0 victory against Gibraltar they had failed to win in seven games. That run coincided […]

June 5, 2024 10

Sport

Defending T20 champions England washed out after Scotland scar

Scotland openers George Munsey and Michael Jones gave England a fright in their T20 World Cup opener in Barbados on Tuesday before rain spared the defending champions a potentially tough chase. Scotland, in their first T20 against their border rivals, were bidding to match their shock success when they last met England -- a six-run one-day international win in Edinburgh back in 2018. England, meanwhile, were desperate to […]

June 5, 2024 11

South Africa

Storm Devastates KwaZulu-Natal, Killing 11

A storm tore through South Africa's coastal province of KwaZulu-Natal on Monday, killing at least 11 people and causing widespread destruction, according to local officials. Reuters reports that drone footage from Tuesday in the town of Tongaat showed residents sifting through debris around their damaged homes, attempting to salvage their belongings. Local media quoted KwaZulu-Natal Premier, Nomusa Dube-Ncube, who indicated the death toll could rise beyond the 11 reported so […]

June 5, 2024 13