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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Despite oil riches, Libyans hit by plummeting purchasing power
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Chip giant TSMC shifts away from hotspot Taiwan with Japan plant
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Grapes of wrath: Albania winemakers struggle with warmer world
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Daimler Truck braces for possible strike in 3 southern US states
Economy Latest News
Argentina's Milei orders major deregulation of economy
Argentina's new leader Javier Milei unveiled Wednesday a series of measures to deregulate the country's struggling economy, eliminating or changing more than 300 rules via presidential decree, including on rent and labor practices. Among the changes announced Wednesday are the elimination of a law regulating rent, as well as rules preventing the privatization of state enterprises.
Sony PlayStation 5 sales cross 50 million units
Sales of Sony's PlayStation 5 have crossed 50 million units, the Japanese electronics giant said, pointing to "strong momentum" this year for its flagship gaming console. Still, the PS5 reached the 50-million-unit milestone in almost the same period as its predecessor, the PS4, with Sony saying its flagship console enjoyed "strong momentum" in 2023.
Ski prices rise but skiers keep coming, for now
In the heart of the Austrian Alps, workers at the world's leading ski maker churn out pair after pair for international clients who are undeterred by the sport's snowballing costs. Austrian ski lift operators have also hiked prices this year, in line with other resorts throughout the Alps.
Japan begins on-site inspection to Toyota unit Daihatsu
Japanese officials on Thursday started an on-site inspection at the headquarters of Toyota subsidiary Daihatsu, the transport ministry said, after an investigation found it had rigged safety tests and was forced to suspend all shipments of its vehicles.
Asian markets track Wall St losses as traders pause after rally
Asian markets turned negative Thursday as investors took their foot off the gas after an extended rally fuelled by expectations the Federal Reserve will slash interest rates next year. "An upside surprise in the figures is crucial to bolster the credibility of the Federal Reserve's efforts to push back against market rate cut expectations.
US electric scooter company Bird files for bankruptcy
US electric scooter rental company Bird announced Wednesday that it filed for bankruptcy protection as the once-hot startup reorganizes itself. Bird was part of a generation of scooter companies that grew fast in the late 2010s.
EU strikes budget reform deal after two-year wrangle
The EU agreed reforms Wednesday that will loosen budget rules with the goal of encouraging investments while keeping debt and spending under control, after France and Germany bridged their differences. Dutch minister Sigrid Kaag said: "This agreement provides for fiscal rules that encourage reforms, with room for investments and tailored to the specific situation of the member state in question.
US home sales edge up in November but still gloomy
Sales of US existing homes crept up in November, according to industry data released Wednesday, though they remained at a low level as high mortgage rates weigh on activity. But NAR chief economist Lawrence Yun sounded an optimistic note, saying that the persistently low sales figures reflect the situation in most of October when mortgage rates were at a two-decade high.
Sharp decline alert: Liquidations plummet by 13.3% year on year
Significant shifts are noted in the financial realm as liquidations see a dramatic 13.3% decline. This decrease signals economic trends in the market landscape.
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