Guterres calls for a ‘global order that works for everyone’

Guterres calls for a ‘global order that works for everyone’

UN Secretary-General António Guterres addressed the Münich security conference on Friday where he called for a global order that works for everyone. Guterres also warned against an all-out offensive on the city of Rafah which is at the core of the entire humanitarian operation in Gaza. Moving on to Ukraine, he said two years into the war, the cost of human lives and suffering is appalling while the impact […]

February 19, 2024 50

Business / Economics

Bank of Namibia expected to cut repo rate by 25bps as inflation cooling

By Josef Kefas Sheehama At its first Monetary Policy Committee meeting of 2024, on the 14 February 2024, the Bank of Namibia is expected to cut its Repo Rate by 25 basis points. All of Namibian’s banks now expect the Bank of Namibia to cut its Repo Rate target by 0.25 basis points on the 14 February 2024, which would bring its key lending rate to 7.50%. This […]

February 13, 2024 41

Opinion Pieces

Houthi militant attacks in the Red Sea raise fears of Somali piracy resurgence

By Samuel Oyewole, Federal University, Oye Ekiti Renewed attacks on ships by suspected Somali pirates since November 2023 have fuelled fear of a new threat of piracy off the east coast of Africa. The area at risk stretches from the Red Sea to the Gulf of Aden and the Indian Ocean. At least four ships have been hijacked off the Somalia coast since November 2023. Concern has risen […]

February 1, 2024 7

Business / Economics

IMF forecasts Asia-led global economic soft landing in 2024

The International Monetary Fund is forecasting growth in Asia will help guide the global economy to a ‘soft landing’ in 2024. The IMF on Wednesday released its regional outlook for the Asia-Pacific which expects China and India to drive growth in the region.

February 1, 2024 18

Business / Economics

BRICS bloc dominates global GDP and wealth

The BRICS bloc now represents more than 45% of the world’s population and accounts for nearly 36% of global GDP than G7 countries (30%) when adjusting for purchasing power parity. According to investment migration consultancy, Henley and Partners’ BRICS Wealth Report, the total investable wealth currently held in the BRICS bloc amounts to $45 trillion and its millionaire population is expected to rise by 85% over the next 10 years.

February 1, 2024 4

Africa

Davos: Global economists see bright spots in Africa growth prospects

By Conrad Onyango, bird story agency Top economists agree that Africa's economic prospects for 2024 are positive, as small countries sparkle in the face of sluggish global growth projections. Chief economists from the World Economic Forum, World Bank and United Nations project Africa’s economy will defy the impacts of weak investments, debt crises, inflation, tight financial conditions and extreme weather patterns to record an improvement over 2023. A strong majority […]

January 19, 2024 30

Business / Economics

New Global alliance for women’s health could help boost global economy by $1 trillion annually by 2040

A new World Economic Forum report released today shows that closing the women’s health gap would allow more women to live healthier, higher-quality lives, and provide an unprecedented boost to the global economy. Closing the Women’s Health Gap: A $1 Trillion Opportunity to Improve Lives and Economies, developed in collaboration with the McKinsey Health Institute, analyses the health conditions that uniquely or disproportionately affect women and quantifies the health gap […]

January 19, 2024 18

Business / Economics

Salomo Hei of High Economic Intelligence tackles Davos talks, and their impact on Namibia

The World Economic Forum's Annual Meeting takes place in Davos from today until 19 January 2024. Key sessions and reports at Davos will look at how climate change affects health, how to close the women's health gap, and how digital tools can transform healthcare. We asked the Managing Director of High Economic Intelligence, Salomo Hei whether talks in Davos would affect middle-income countries like Namibia.

January 15, 2024 51

Business / Economics

Wealth of top 5 billionaires doubles as global poverty rises

The fortunes of the world's five richest individuals have doubled to $869 billion since 2020, while five billion people face increased poverty. Oxfam reports that billionaires now control 70% of the world's biggest companies, prompting the anti-poverty agency to urge governments to break up monopolies, impose wealth taxes, and explore alternative ownership models like employee ownership. The findings coincide with the World Economic Forum meeting in Davos.

January 15, 2024 17