IMF Adjusts Growth Forecasts, Cautions on Global Risks

IMF Adjusts Growth Forecasts, Cautions on Global Risks

The International Monetary Fund has raised its growth forecast for the United States but lowered its outlook for China, citing concerns over conflicts, trade tensions, and high interest rates. In its World Economic Outlook released on Tuesday, the IMF predicts global GDP will remain steady at 3.2% for this year and next. Finance leaders are convening in Washington DC this week for the IMF and World Bank annual meetings. From […]

October 23, 2024 14

Africa

Ten Bodies Recovered After Fuel Tanker Explosion in Kampala

A fuel tanker explosion in Kampala, Uganda, resulted in the recovery of ten bodies, according to a Reuters witness. The tanker overturned around 3:00 PM local time in the Kigoogwa suburb, located on the northern outskirts of the city along the road connecting Kampala to Gulu. Police confirmed that several individuals may have lost their lives, and others sustained injuries in the incident.

October 23, 2024 5

Business / Economics

23 October 2024 Morning Biz News Update: Innovations and Market Movements

FNB Namibia Launches Innovative ChatPay Feature FNB Namibia has taken a significant step towards enhancing user experience by introducing a new chat feature within the FNB App. The innovative ChatPay allows users to initiate payments seamlessly without requiring a formal bank account number. According to Amore Nicholson, the Digital Banking Head at FNB Namibia, this solution combines convenience, simplicity, and affordability. Customers can now chat and make payments simultaneously and […]

October 23, 2024 24

Namibia

Local Conference of Youth Namibia commences today

The Local Conference of Youth Namibia commences today. This event seeks to align with our established objectives and develop a robust youth climate strategy and action plan. Throughout the conference, participants will engage in interactive sessions designed to gather valuable insights, including targets and indicators, that will help shape the outcomes of our collective efforts in addressing climate change. LCOY's Mariah Willem:

October 23, 2024 37

South Africa

S.A Union Vows to Oppose Proposed Labour Law Amendments

South African union federation Saftu has pledged to defend workers' rights against proposed labour law amendments it deems harmful to the working class. The union argues that the new laws would permit employers to dismiss workers without proper hearings, reduce protections for younger and new employees, and curtail workers’ rights in labor disputes. Saftu's general secretary, Zwelinzima Vavi, stated that the changes would primarily benefit businesses while undermining workers’ power. […]

October 23, 2024 14

Business / Economics

Bank of Namibia Issues Warning on Fraudulent Investment Schemes

The Bank of Namibia has raised alarms about an increase in fraudulent investment schemes that falsely promise financial support for the nation’s development initiatives. These scams primarily target high-ranking government officials and traditional leaders, exploiting their reputations to gain credibility. The Bank has also observed that religious and traditional leaders are being approached to promote these deceptive schemes within their communities, further misleading the public. The regulator's Josefina Oskar:

October 23, 2024 22

World

Former Abercrombie boss arrested on sex trafficking charges

The former boss of Abercrombie and Fitch was arrested on Tuesday on sex trafficking charges. Mike Jeffries was arrested in West Palm Beach in the US state of Florida - two others are also facing criminal charges. They are expected to appear in federal court on Tuesday. Sally Patterson reports.

October 23, 2024 10

South Africa

Grade 12 learners in S.A miss Computer Applications Technology exam due to power outages

Around 400 Grade 12 learners in Gqeberha, Eastern Cape, missed their Computer Applications Technology exam due to power outages caused by severe storms and flooding. Minister of Basic Education Siviwe Gwarube assured the public that contingency plans, including backup papers, are in place with support from Umalusi to ensure exams proceed smoothly. Meanwhile, the Western Cape Education MEC David Maynier urges the public not to share fake news, as it […]

October 23, 2024 53

Namibia

Venaani Criticizes Nandi-Ndaitwah for Silence on Corruption Allegations

Popular Democratic Movement president McHenry Venaani has criticized Swapo presidential candidate Netumbo Nandi-Ndaitwah for consistently remaining silent on allegations of corruption. He further accused the vice president and Swapo of routinely shielding corrupt practices. Venaani made these remarks during the PDM's petition handover yesterday, protesting the Electoral Commission of Namibia's decision to award the ballot paper printing tender for the upcoming election to Johannesburg-based company Ren-Form CC.

October 23, 2024 10