Business / Economics Archives - Page 99 of 184

Mines and Energy ministry Unveils New Customer Service Charter

The Mines and Energy ministry will launch its Customer Service Charters today at its Head Office. This Charter highlights the ministry's commitment to delivering top-tier customer service, as stated by spokesperson Ten Hasheela.

5 August, 2024

Business / Economics

5 August 2024 Morning Biz News: July Retail Basket Costs Drop, Rand Strengthens, and Markets React to Economic Uncertainty

In July, OK Foods saw a notable decrease in basket costs, dropping by 9.9%, as reported by The Brief. Conversely, Choppies experienced a rise of 4.7% in basket costs. Other major retailers also reported price reductions, with Spar offering the lowest price for Top Score 5kg. Among hypermarkets, Woermann Brock emerged as the most affordable, while Metro saw the highest increase in basket costs. On Friday, the South African […]

5 August, 2024

Business / Economics

US reportedly mulls new curbs on China’s access to AI memory chips

The US is reportedly considering unilateral restrictions on China's access to AI memory chips and equipment capable of making such semiconductors as soon as next month. It risks fueling the tech rivalry between Washington and Beijing, with China's Global Times newspaper warning of countermeasures. Laura Westbrook reports from Hong Kong.

2 August, 2024

Business / Economics

2 August 2024 Morning Biz News: Namibia Lifts Vehicle Acquisition Ban, Tiger Brands Expands in South Africa, Currency Fluctuations Impact Global Markets

Government Lifts Ban on Vehicle Acquisitions Finance Minister Iipumbu Shiimi announced that the Namibian government has lifted the five-year ban on acquiring new vehicles for ministers and government employees. This moratorium, initially imposed by the late President Hage Geingob in 2020, follows a previous halt in 2015 by former Finance Minister Calle Schlettwein as part of austerity measures. The move marks a significant policy shift and could lead to increased […]

2 August, 2024

Business / Economics

FNB Namibia Anticipates Inflation Drop to 4.4%

FNB Namibia forecasts a decrease in headline inflation from 4.6% in June this year to 4.4% last month. This decline is mainly due to reduced transport inflation, linked to eased costs in personal transport and vehicle purchases. The drop is supported by recent global oil price stabilization and the Mines and Energy ministry's July fuel price cuts. Helena Mboti, an Economist at FNB Namibia.

2 August, 2024

Business / Economics

Namibia’s merchandise trade deficit shrinks in June 2024

The Namibia Statistics Agency has released the latest trade statistics bulletin which shows that during June 2024, the country’s trade balance stood at a deficit of N$825 million, a notable improvement when compared to N$3.4 billion and N$1.5 billion recorded in May 2024 and June 2023, respectively. The data also revealed that China emerged as Namibia’s largest market for exports while South Africa took the first position on imports. NSA […]

1 August, 2024

Business / Economics

25 July-1 2024 August Weekly Economics Wrap: Telecom Namibia’s Major Upgrade, Rand Strengthens, Shoprite Growth, and Global Financial Updates

Namibian Telecom Sector Gets a Boost UCOM and BDQ Mobile Network Solutions have launched a 10-year partnership to rejuvenate Namibia’s third mobile phone operator. According to The Brief, BDQ, in collaboration with American-based VANU Technology, will introduce cutting-edge telecommunications infrastructure to enhance service quality across the nation. Telecom Namibia has also made headlines by activating the Equiano subsea cable. This major development promises to significantly improve internet connectivity with […]

1 August, 2024

Business / Economics

Weekly Economics Wrap: 25 July – 1 August 2024: Telecom Upgrades in Namibia, Rand Strengthens, and Global Market Highlights

Namibian Telecom and Connectivity Upgrades UCOM and BDQ Mobile Network Solutions have announced a significant 10-year partnership aimed at revitalizing Namibia’s third mobile phone operator. BDQ, in collaboration with American-based VANU Technology, will deploy advanced telecommunications infrastructure to enhance service quality. In related news, Telecom Namibia has successfully activated the Equiano subsea cable. This major development promises to greatly improve internet connectivity with 12 fiber pairs and a design […]

1 August, 2024

Business / Economics

Fed keeps rates unchanged

The Federal Reserve has left interest rates unchanged at its two-day meeting, but suggested a September rate cut could be on the cards. The central bank said inflation was getting closer to its 2% target, but there's still work to do. Sally Patterson reports from New York.

1 August, 2024