Business / Economics Archives - Page 110 of 184

4 July Morning Biz News: Global Markets Surge Amid Economic Optimism and Strategic Oil Sector Moves

1. Botswana and Namibia Explore Fuel Storage Collaboration In a move aimed at enhancing regional fuel logistics, Botswana President Mokgweetsi Masisi has announced that the Botswana Oil Company is in talks with the Namibia National Petroleum Corporation (NNPC) to establish shared fuel storage facilities at Walvis Bay. This collaboration seeks to optimize fuel transportation and streamline oil sourcing from Angola, potentially bolstering efficiency across the supply chain. 2. South African […]

4 July, 2024

Business / Economics

SWAITEX showcases Namibia’s trade and investment potential

Swakopmund, Namibia - The Swakopmund International Trade Expo (SWAITEX) is currently underway, drawing local and international businesses to the coast. Established in 2013, SWAITEX aims to foster networking opportunities and promote business ventures for Namibian entrepreneurs. Botswana's President Mokgweetsi Masisi and First Lady Neo Jane are esteemed guests of honor at SWAITEX 2024, underscoring the event's regional significance. Obrien Simasiku, the Communications Coordinator for SWAITEX, highlighted the diverse participation at […]

3 July, 2024

Business / Economics

Institute of Namibian Quantity Surveyors pushes for early involvement in projects

The Institute of Namibian Quantity Surveyors (INQS) is currently running a campaign to educate the construction sector on the critical importance of involving quantity surveyors from the start of a project. This initiative draws attention to their role in cost management, risk mitigation, and overall project success. INQS President Frikkie Jordaan explained the relevance of appointing a quantity surveyor at the inception stage of a project. "It is crucial to […]

3 July, 2024

Business / Economics

3 July 2024 Morning Biz News: Global Economic Insights: Manufacturing Leads Namibia’s Exports, South Africa’s Business Confidence Surges, NNPC’s Oil Production Strategy, and Oil Prices Rise Amid Summer Demand Optimism

Namibia's Manufacturing Sector Leads Export Growth in May 2024 Namibia's economic landscape in May 2024 showcased robust export performance, with the manufacturing industry emerging as a pivotal contributor. According to the Namibia Statistics Agency, the sector spearheaded the nation's exports, contributing goods valued at N$6.3 billion. This figure contributed significantly to the country's total exports for the month, which surged to N$44.7 billion, marking a notable increase from N$42.4 billion […]

3 July, 2024

Business / Economics

Namibia’s trade deficit hits N$3.3 billion

The Namibia Statistics Agency’s latest International Merchandise Trade Statistics Bulletin shows that during the month of May 2024, the country’s trade balance stood at a deficit of N$3.3 billion, a worsened trade balance when compared to N$3.1 billion and N$2.9 billion recorded in April 2024 and May 2023, respectively. NSA spokesperson, Mirjam Shihepo. Namibia's trade composition by partner showed that South Africa remained Namibia's largest market for both exports […]

2 July, 2024

Business / Economics

FNB Namibia expects inflation to tick up slightly in June

FNB Namibia expects headline inflation to rise by 0.1 to 5.0 percent year-on-year in June. The bank further anticipates a slight decrease in inflation on a month-on-month basis of 0.1 percentage points to 0.2% in June 2024, primarily influenced by a 0.7% reduction in transport costs compared to the previous month. FNB Namibia economist Helena Mboti. Mboti says the alcoholic beverages and tobacco category will significantly contribute to inflation, […]

2 July, 2024

Business / Economics

Caltex brand returns to Namibia

By Selma Ikela, via News on One The Caltex brand is returning to Namibia six years after Astron Energy bought a majority share of the business. Chevron has appointed Bachmus to sell, market and distribute its oils and fuels using the Caltex brand. The two companies signed a long-term retail trademark licensing agreement to grow the Caltex-branded service stations nationwide. Caltex is a globally recognised premium […]

2 July, 2024

Business / Economics

Victims Families “Dissatisfied” with Reported Boeing Plea Deal

Families of the victims from two major crashes involving Boeing aircraft are said to be unhappy with a plea agreement reportedly offered to the company in recent days. It comes as Boeing is under intense scrutiny for its safety protocols. Mitch McCann reports:

2 July, 2024

Business / Economics

2 July 2024 Morning Biz News: Namibian Stock Exchange Thrives, Dollar Strengthens Amid Global Financial Developments

Namibian Stock Exchange Shows Strong Growth in Q1 2024 The Namibian Stock Exchange (NSX) has reported a robust performance in the first quarter of 2024, reflecting positive trends in market capitalization and trading volumes. According to The Brief, NSX's local board witnessed a notable increase in market capitalization, soaring to N$45 billion from N$38 billion in Q1 2023. This growth underscores a resilient market environment despite global economic uncertainties. The […]

2 July, 2024