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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IMF lifts China's 2024 growth forecast to 5%
The International Monetary Fund on Wednesday raised its 2024 growth forecast for China to five percent, citing recent policy moves by Beijing to boost its struggling economy. The IMF on Wednesday welcomed official steps in recent weeks to boost the housing market.
Exxon plays hardball against climate NGOs. Will investors care?
ExxonMobil investors will have a chance to weigh in at Wednesday's annual meeting on the company's hardball approach to the latest shareholder challenge from environmentalists over climate change. ExxonMobil argued that the proposal was the same as one rejected by nearly 90 percent of company shareholders at the 2023 meeting.
US allows Cuban entrepreneurs conditional banking access
Private sector entrepreneurs in Cuba will be able to establish US bank accounts which they can remotely access, US officials said Tuesday, in announcing an update to the country's Cuba policy.
Countries at odds over how to reignite pandemic agreement
Countries aired stark differences Tuesday on where to go next in trying to strike a global agreement for handling future pandemics, after missing a deadline to finalise a deal. But the negotiations ended last Friday without finalising a deal.
French delicatessen Fauchon bought by Breton biscuit firm
French gourmet food and delicatessen company Fauchon said Tuesday it has been bought out by Galapagos, a Brittany-based biscuit maker. "Eucelia Investments SA, investment company of the Ducros family, has chosen to sell the company to the Tacquard family at the head of the Breton group Galapagos," according to a statement that did not give a value for the deal.
New Caledonia unrest pushes nickel sector deeper into crisis
Weeks of unrest in New Caledonia have plunged the archipelago's nickel industry, already on government life support, closer to catastrophe, sector representatives say. And although France has lifted a state of emergency across the territory after two weeks of unrest in which seven people died and hundreds were injured, few expect a fast return to normality in the nickel industry.
US to unveil 'guardrails' needed for carbon markets to succeed
President Joe Biden's administration is set Tuesday to unveil "guardrails" it says will ensure that carbon offset markets effectively reduce greenhouse gas emissions, a significant win for advocates of the contentious schemes.
UK Labour touts pro-business shift as industry figures back party in election
The UK's Labour opposition vowed Tuesday to be both "pro-worker and pro-business" after winning the backing of 120 industry leaders as the party tries to oust the Conservatives in the upcoming general election.
Climate change caused 26 extra days of extreme heat in last year: report
The world experience an average of 26 more days of extreme heat over the last 12 months that would probably not have occurred without climate change, a report said on Tuesday. They concluded that "human-caused climate change added -- on average, across all places in the world -- 26 more days of extreme heat than there would have been without it".
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