The South African Reserve Bank Governor Lesetja Kganyago announced that the interest rate was reduced to 7% and the prime lending rate was reduced to 10.5%.
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- In Davos, Chinese premier takes aim at trade 'barriers'
- Stocks swing after latest selloff as Fed, Middle East dampen sentiment
- Higher US food prices lead to a shift in shopping habits
- IMF gives draft approval to Argentina payout of almost $800 mn
- Chinese shopping app Temu faces stricter EU safety rules
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Frustration in the air: Boeing delays hang over aviation meet
Back-slapping over record passenger figures is tinged with frustration at the airline trade body's annual meeting as carriers lament years-long delays to deliveries of new Boeing aircraft. Headline projections of nearly five billion passengers and close to $1 trillion in revenues this year, both records, were reasons for celebration at the IATA annual general meeting in Dubai.
Behind bars: Belfast jail reborn as whiskey distillery
Once home to paramilitary prisoners during Northern Ireland's "Troubles", a notorious Belfast jail is now home to a whiskey still that is drawing tourists to a formerly strife-torn area. The jail -- colloquially known as the "Crum" -- opened its doors as a tourist attraction in 2012 and the firm hopes the distillery will draw even more visitors.
S. Korea earmarks $24bn in aid, investment support for Africa
President Yoon Suk Yeol on Tuesday announced billions of dollars in new aid and investment support for Africa, as South Korea looks to boost trade ties with the continent.
Asian markets in reverse as US data spark economy worries
Asian markets fell Tuesday as traders were spooked by signs of weakness in the US economy, even as the data boosted hopes the Federal Reserve will cut interest rates this year. While traders have of late taken soft economic data as a positive sign, owing to the fact it gives the Fed room to cut rates, the latest news stoked concerns about the outlook for the economy.
Nigeria union strike shuts power grid, schools, disrupts flights
Nigerian labour unions shut down the national power grid and disrupted flights Monday as they began an indefinite strike that closed schools and public offices after failing to strike a new minimum wage deal with the government. In the northern city of Kano, government offices and public schools were closed.
Canadian investment group buys French club Saint-Etienne
Canadian investment group Kilmer Sports Ventures (KSV) have acquired former French footballing giants Saint-Etienne on Monday a day after the club returned to Ligue 1. KSV is part of Kilmer Group, a Toronto-based firm specialising in private equity, real estate, sports and media.
Microsoft to invest $3.2 bn in AI in Sweden
Microsoft said Monday that it would invest 33.7 billion kronor ($3.2 billion) over two years in cloud and artificial intelligence infrastructure in Sweden, its biggest investment in the country.
Turkish inflation exceeds 75% but peak in sight
Turkish inflation jumped above 75 percent in May, official data showed Monday, but officials expect consumer prices to have finally peaked in a cost-of-living crisis that has dogged President Recep Tayyip Erdogan. Turkey has been battling soaring consumer prices that prompted Erdogan to drop his opposition to interest-rate hikes to combat inflation.
Homeowners and housebuilders pin hopes on ECB rates cut
In the west Frankfurt suburbs on a plot wedged between a motorway and a wooded park, excavators are preparing the ground for 400 new apartments.
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