15 March 2024 Morning Biz News: Recent Developments in Business and Finance

15 March 2024 Morning Biz News: Recent Developments in Business and Finance

1. Custos Energy Strikes Oil in Mopane-2X Well Custos Energy has made a significant breakthrough with the discovery of high-quality light oil during the drilling of the Mopane-2X well. Galp Energia, a subsidiary of Portugal's Galp, leads the operation under Petroleum Exploration Licence 83, holding an 80% interest. The National Petroleum Corporation retains a 10% stake, with Custos Energy holding the remaining 10% working interest. 2. PAR Group Announces Expansion […]

March 15, 2024 5

South Africa

Undersea Cable Breaks Cause Internet Disruptions Across South Africa

South Africa grappled with extensive internet disruptions following multiple undersea cable breaks, leading to reports of service outages from major platforms like FNB, LinkedIn, and WhatsApp. Microsoft is investigating an outage affecting users in the Europe, Middle East, and Africa region, with notable impacts in South Africa, Kenya, and the United Kingdom. The exact location of the cable breaks, potentially near the Ivory Coast in West Africa, remains uncertain. Vodacom […]

March 15, 2024 8

World

Judge denies Trump’s request to throw out charges in classified document case

The judge presiding over Donald Trump's classified documents case in the US state of Florida has denied his request to dismiss charges against him. US District Judge Aileen Cannon says one of his two motions to dismiss the case on the basis of 'unconstitutional vagueness' was premature. Trump is accused of illegally taking sensitive government documents with him when he left the White House in 2021. He denies the charges. […]

March 15, 2024 23

Namibia

President Mbumba Open to Testifying in Fishrot Trial if Court Requests

President Nangolo Mbumba stated that he would be willing to testify in the Fishrot fraud and corruption trial if summoned by the court. His response came during a parliamentary session when Popular Democratic Movement leader McHenry Venaani inquired whether Mbumba, as a former Swapo secretary general, would be willing to provide testimony in the trial.

March 15, 2024 6

Namibia

Successful Debt Relief Registration for Pensioners Since February 15th, Reports Katutura Resident’s Committee Member

Shaun Gariseb, a member of the Katutura Resident's Committee, has noted significant progress in the debt relief registration for pensioners since February 15th. According to Gariseb, the registration process has been highly successful, with large numbers of pensioners participating from the outset. He emphasized that the evident demand underscores the pressing need for this relief provision among pensioners. He shared this additional challenge.

March 15, 2024 11

World

Schumer calls for change of Israeli government

US Senate Majority Leader Chuck Schumer has called for a change of government in Israel, saying Prime Minister Benjamin Netanyahu is preventing peace in the Middle East. Schumer is the highest ranking Jewish lawmaker to call for a change. It comes amid increasing criticism from the US, as well as from the Biden administration over Israel's handling of the conflict with Hamas, and the impact of Palestinian civilians. Schumer spoke […]

March 15, 2024 14

South Africa

Progress Report on Lifestyle Audits of Senior Government Officials Presented to South African Cabinet

Khumbudzo Ntshavheni, South Africa's Minister in the Presidency, revealed that the Cabinet has been briefed on the progress of lifestyle audits conducted on senior management service members. As of January last year, 24 national departments and 71 provincial departments had undergone these audits. However, following further interventions, Ntshavheni stated that the number of compliant departments had risen to 36 national government departments and 89 provincial departments by the end of […]

March 15, 2024 13

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Namibia

Scandal Hits National Petroleum Corporation

The National Petroleum Corporation is reeling from a scandal involving the alleged theft of N$1 million worth of fuel, with four arrests made, including Immanuel Mulunga's nephew. Denzel Mulunga, Simeon Shilongo, Jason Malima, and Graham Platt (46) face charges ranging from theft to money laundering and conspiracy. Notably, Jason Malima is related to Victor Malima, CEO of Enercon, a military contractor in legal dispute with Namcor over a N$60 million […]

March 15, 2024 38 6

Namibia

Prime Minister Emphasizes Importance of Census Data for Development Planning

Prime Minister Saara Kuugongelwa-Amadhila underscored the vital role of population counts not only in determining the size of Namibia's populace but also in shaping the nation's planning and development strategies. Speaking at the unveiling of the preliminary findings of the 2023 Population and Housing Census, Kuugongelwa-Amadhila emphasized that census data serves as a cornerstone for informed governance. She highlighted how beyond mere numbers, census insights provide invaluable guidance for crafting […]

March 14, 2024 13