Business / Economics Archives - Page 63 of 184

October occupancy rate drops to 65.15%

The national occupancy rate for October stood at national occupancy rate for October stood at 65.15%, slightly lower than the 65.54% recorded in October 2023 and below the pre-pandemic level of 69.87% from October 2019. The year-to-date occupancy rate for 2024 averaged 54.17%, falling just short of the 54.76% seen in 2019. Gitta Paetzold the Hospitality Association of Namibia's CEO.

2 December, 2024

Business / Economics

SA’s Ramaphosa responds to Donald Trump’s threats

South Africa’s President, Cyril Ramaphosa says the country will facilitate diplomatic talks with US president-elect Donald Trump, rather than engage in social media clashes over bilateral matters. This comes after Trump threatened to impose 100 percent tariffs on BRICS countries if they were to create a currency rival to the US dollar. Ramaphosa says the G20 presidency will see South Africa work closely with the US.

2 December, 2024

Business / Economics

Donald Trump threatens 100% tariffs on BRICS

US President-elect Donald Trump has warned BRICS nations against creating a new currency to replace the US dollar, demanding commitments to maintain the dollar's dominance. He also repeated threats to levy a 100% tariff. Bloomberg reports that Saturday’s threat on Truth Social took on new relevance as the president-elect prepares to retake power in January. In response, South Africa’s former Public Protector Thuli Madonsela criticized Trump’s position on X, saying […]

2 December, 2024

Business / Economics

Global demand and drought impact GDP

The Bank of Namibia has released the Economic Outlook update for December 2024. The domestic economy is estimated to expand by 3.5 percent in 2024 and 4.0 percent in 2025. However, GDP growth is expected to slow in 2024 due to weaker global demand for minerals and drought-related impacts. Here is Josefina Oskar from the Bank of Namibia.

2 December, 2024

Business / Economics

In S.A, Financial Stability Review Highlights Growing Strain on Households

S.A's Reserve Bank's latest Financial Stability Review reveals growing financial stress among households and small-to-medium enterprises. High interest rates, ageing global conflicts, infrastructure failures, and South Africa's graylist status contribute to the strain. Reserve Bank’s head of financial stability department Nicola Brink, says non-performing loans surged from 257-billion-rand in March 2023 to 304-billion-rand in July 2024:

2 December, 2024

Africa

Biden’s Africa Trip to Focus on U.S.-Backed Railway Project

U.S President Joseph Biden embarks on a trip to Angola, fulfilling a promise to visit Africa during his presidency. Reuters says his visit will highlight a major U.S.-backed railway project aimed at diverting critical minerals away from China. The project, partially funded by a U.S. loan, connects the resource-rich Democratic Republic of Congo and Zambia to Angola's Lobito port, providing a faster route for exports to the West.

2 December, 2024

Business / Economics

Inflation ticks up in Eurozone

Inflation ticked up to 2.3 percent in November across the Eurozone according to the Eurostat statistics agency. This puts prices above the European Central Bank's two percent target but the increase was expected. William Denselow reports from Brussels.

2 December, 2024

Business / Economics

Fuel Prices to Stay Steady in December

Motorists can breathe a sigh of relief as the Ministry of Mines and Energy has confirmed that fuel prices for December will remain unchanged. Here is Anna Salkeus from the ministry with more details.

2 December, 2024

Business / Economics

France’s TotalEnergies pauses Adani investments

French oil giant TotalEnergies has halted its investments into Adani Group amid bribery allegations against the Indian conglomerate. US authorities have accused billionaire Gautam Adani and other executives of paying more than $250 million in bribes to government officials to win solar energy contracts. Rebecca Bundhun reports from Mumbai.

26 November, 2024