Statistics South Africa confirmed the increases in prices of food amid Russia's invasion of Ukraine, which controls over a quarter of world wheat exports.
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UK Covid-19 inquiry to grill PM Sunak over Eat Out scheme
British Prime Minister Rishi Sunak faces questions Monday over whether his "Eat Out to Help Out" scheme to help the struggling hospitality sector during the pandemic spurred the spread of Covid-19. The hospitality sector had been badly hit by lockdown policies which forced them to close.
Falling inflation shifts focus to when ECB could cut rates
With inflation dropping faster than expected and the economic outlook darkening, markets will be looking for clues about when eurozone borrowing costs might start to come down as rate-setters meet this week. But all eyes will be on whether the ECB gives any indications of when borrowing costs -- the key deposit rate is currently sitting at a record high -- will start to be reduced.
US Fed expected to pause again as inflation edges closer to target
The US Federal Reserve is widely expected to hold interest rates at a 22-year high for a third consecutive meeting on Wednesday as it continues to fight elevated inflation. Daco from EY said the Fed is fighting a "battle for optionality" in which policymakers continue to insist that another interest rate hike could happen, "if deemed necessary."
US business leaders start to rally around Republican candidate Nikki Haley
A growing number of US business leaders are rallying behind former South Carolina governor Nikki Haley as the Republican Party's presidential hopeful, seeing her as more stable than rival Donald Trump, and more favorable to business interests than incumbent Joe Biden.
Sour grapes: Japan battles to protect premium fruits
The variety of juicy grape that Yuki Nakamura is harvesting as the sun rises over his farm took scientists 33 years to develop and can sell for $100 a bunch in Tokyo department stores. Takehiko Shimada, head of NARO's fruit variety research unit, said it takes years of painstaking work to develop a new variety fit to hit stores.
Lula warns Maduro as South America nervously eyes Guyana-Venezuela row
Brazilian President Luiz Inacio Lula da Silva urged his counterpart Nicolas Maduro Saturday against escalating Venezuela's border row with neighboring Guyana, as South American leaders nervously monitored the deepening dispute. "Lula emphasized the importance of avoiding unilateral measures that could escalate the situation," the Brazilian presidency said.
China sees progress at climate talks as OPEC fights for fossil fuels
China said on Saturday it saw progress in reaching a climate deal at a key United Nations summit in Dubai, despite a last-minute push by the OPEC oil cartel to resist a phase-out of fossil fuels. A third draft deal released on Friday offers various ways to phase out fossil fuels but it also includes the option to not mention them at all in the final text.
Nigeria loads first crude at huge new Dangote refinery
Nigeria's huge oil refinery built by Africa's richest man Aliko Dangote received its first crude deliveries, the company said on Saturday, in the latest step to starting up the delayed megaproject. Dangote Petroleum Refinery received an initial shipment of one million barrels of crude from Agbami deepwater field and began loading on Friday, the company spokesman said Saturday.
Nearly two years into war, is Russia's economy out of the woods?
As he prepares to run for re-election in 2024, is President Vladimir Putin right to claim the worst is over for the Russian economy? "We have overcome all problems that arose after the sanctions were imposed on us and we have started the next stage of development," Putin announced in October.
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