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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Ford US vehicle sales neared two million in 2023
Auto giant Ford sold almost two million vehicles in the United States last year, the company said Thursday, buoyed by accelerating electric vehicle sales and continued growth in internal combustion engine trucks. Of the almost two million cars Ford sold in 2023, close to 1.8 million of them were internal combustion engine vehicles, company figures showed.
Spain generated record 50% of power from renewables in 2023
Spain generated more than half of its electricity from renewable sources such as wind and solar power in 2023 in a "historic" record, the national power grid said Thursday. Wind was the leading source of energy for the second year running, generating 63,000 GWh, or 23.3 percent of the total electricity generated in Spain.
TotalEnergies to review land buyouts in contested Africa projects
French energy giant TotalEnergies said Thursday it had launched a review of its land acquisition practices for controversial $10-billion projects in Uganda and Tanzania slammed by environmentalists.
Germany drops planned subsidy cuts after farmers protest
The German government on Thursday dropped part of its plans to cut agricultural subsidies in the face of massive protests from farmers. The move almost immediately prompted significant protests by farmers, who descended on central Berlin in their thousands.
APA to acquire Callon Petroleum in $4.5 bn deal
US energy company APA Corporation has agreed to buy competitor Callon Petroleum in a transaction valued around $4.5 billion including debt, the firms announced Thursday, marking the latest deal in the sector.
US private sector hiring up more than expected in December
The US private sector added more jobs than anticipated in December, payroll firm ADP said Thursday, signaling a strong labor market could continue to support the economy despite higher interest rates. In December, ADP noted that service-providing industries added 155,000 jobs, while goods producing sectors added 9,000 roles.
German emissions at 70-year low as coal use drops
German emissions were at their lowest point in around 70 years, as Europe's largest economy managed to reduce its dependence on coal faster than expected, a study published Thursday showed. The figure was at its lowest point "since the 1950s", Agora said in a statement, while warning that Germany had work to do to further reduce its emissions.
German car sales up in 2023 but electric models lose ground
Sales of new cars in Germany increased in 2023, official data showed Thursday, but an end to government subsidy programmes saw electric vehicles lose ground on fossil-fuel models. The end to the subsidy programmes has further taken the wind out of the electric car market, with sales of battery models down in recent months.
TotalEnergies announces land review in controversial Africa projects
French energy giant TotalEnergies on Thursday said it had launched a land acquisition assessment for controversial $10-billion projects in Uganda and Tanzania slammed by environmentalists. TotalEnergies said Thursday it had named Benin's former Prime Minister Lionel Zinsou to lead its land acquisition assessment, calling him a "recognised expert in African economic development".
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