South Africa ranked 54th in the 2026 IMD World Competitiveness Ranking, moving up 10 places and overtaking Kenya to become the most competitive economy in Africa
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French post office opens changing rooms for online shoppers
France's post office is experimenting with opening changing rooms in some branches to cater to online shoppers who want to quickly return purchases that don't fit. France's La Poste said the idea came about after seeing many customers pick up their packages only to return shortly thereafter as their purchases didn't fit.
German transport hobbled by train strikes, farmer blockades
Nationwide strikes brought German transport to a near standstill Wednesday, with railway workers on a three-day stoppage and farmers on tractors blocking autobahns in a bitter protest over subsidy cuts.
Botswana, De Beers approve $1 bn deal in world's top diamond mine
Botswana and global diamond giant De Beers have approved a $1 billion investment to dig under the world's richest diamond mine by volume, their joint venture said on Wednesday. The mine accounts for about 70 percent of profits for Debswana -- a 50-50 joint venture between the government and De Beers, which auctions most of the gemstones.
Stock markets diverge awaiting inflation data, earnings
European and Asian stock markets diverged on Wednesday, the eve of key US inflation data and the latest earnings season. Analysts said US consumer price index data on Thursday will be crucial to how markets perform in the near term.
Global unemployment set to worsen in 2024: UN
The global unemployment rate will increase slightly in 2024, the United Nations said Wednesday as it raised concerns about stagnant productivity, worsening inequalities and inflation biting into disposable income. Widening inequalities and stagnant productivity are causes for concern, the ILO said in its World Employment and Social Outlook Trends report for 2024.
Train strikes, farmer blockades snarl German transport
Nationwide strikes brought German transport to a standstill Wednesday, with railway workers on a three-day stoppage while farmers on tractors blocked autobahns in a bitter protest over subsidy cuts. The railway strike, which hit long-distance, regional and commuter lines, comes amid a week-long protest by farmers over an end to tax breaks as the government seeks to trim spending.
Rising prices cap India's thirst for Russian oil
Indian purchases of Russian crude in defiance of Western pressure over the Ukraine war have fallen to an 11-month low as the price tag on the discounted oil rises, figures show. Since the invasion of Ukraine nearly two years ago, India has bought hundreds of millions of barrels of cut-price Russian crude, saving itself billions of dollars while bolstering Moscow's war coffers.
Asian markets drop again as traders prepare for CPI, earnings
Asian markets on Wednesday resumed the losses that have characterised the year so far, following a tepid lead from Wall Street as traders prepare for the release of key inflation data and start of earnings season.
Cubans fear worsening inflation as fuel price to soar 500%
Already under the yoke of inflation and product scarcity, many Cubans don't know how they will cope with a new 500-percent surge in the fuel price. According to official estimates, the Cuban economy shrank by two percent in 2023, while inflation reached 30 percent in 2023.
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