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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'Extreme' climate blamed for world's worst wine harvest in 62 years
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Life in water and mud: Colombians fed up with constant flooding
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Rising egg prices show cracks in sanctions-hit Russian economy
Russians have voiced concern about the growing cost of a basic food staple -- eggs -- pointing to the fragile state of the sanctions-hit economy, as President Vladimir Putin seeks a fifth term in office. Eggs are a vital ingredient of many traditional Russian holiday dishes including the mayonnaise-heavy Russian "Olivier" salad, a staple of the New Year's feast.
Reborn night train links Berlin and Paris
A new sleeper service between Berlin and Paris will set off from the German capital on Monday evening after a decade-long hiatus, as night trains gain in popularity as an alternative to short-haul flights. In 2020, French President Emmanuel Macron set the aim of opening 10 new sleeper services by 2030, with the results already visible.
Asian markets mixed ahead of US inflation data, Fed decision
Asian markets diverged Monday as investors awaited key US data and a Federal Reserve policy decision after labour figures last week suggested the US central bank was on course to deliver a soft landing for the economy while reining in inflation. Investors will also be keeping an eye on decisions by the European Central Bank and Bank of England this week.
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.
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