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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Township businesses forced to cut jobs due to loadshedding, report says food and beverage sector most affected
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Equities retreat with US rates back in focus
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Canada's public broadcaster to cut 10% of workforce
Canada's public broadcaster on Monday announced it would cut 600 jobs, or 10 percent of its workforce, as it confronts financial challenges sparked by a drop in television ad revenues and competition from digital news outlets.
Divided US high court hears challenge to $6bn Purdue opioid settlement
The US Supreme Court appeared divided on Monday as it heard a challenge to Purdue Pharma's $6 billion opioids settlement immunizing the Sackler family.
Banque Pictet to pay nearly $123 mn over secret bank accounts
Banque Pictet et Cie will pay nearly $123 million under a deferred prosecution agreement in which the private bank admitted to helping US taxpayers evade $50.6 million in taxes, US officials announced Monday. Under the agreement, Banque Pictet will pay $31.8 million in restitution for US taxes; $52.2 million for fees earned on the undeclared accounts; and a penalty of nearly $39 million.
Saudi Arabia says 'absolutely not' to oil phaseout at COP28
Saudi Arabia's energy minister has slammed the door shut on agreeing to phase out fossil fuels at the UN's COP28 climate talks, setting the stage for difficult negotiations in Dubai. But Energy Minister Prince Abdulaziz bin Salman, a half-brother of de facto ruler Crown Prince Mohammed bin Salman, told Bloomberg that Saudi Arabia, the world's biggest oil exporter, would not agree.
UK has record £16.9bn shortfall in defence budget: watchdog
The UK's defence department is facing a £16.9 billion ($21.4 billion) shortfall in its equipment budget due to inflation and demands from the government's updated strategy, the public spending watchdog said Monday.
Rights orgs sue Netherlands over F-35 parts to Israel
A group of human rights organisations took the Dutch government to court on Monday, arguing its supply of parts for F-35 fighters contributes to violations of international law in Gaza. International law experts have told AFP that human rights violations are likely being carried out by both parties to the conflict.
Turkey's inflation ticks up to 62%
Turkey's annual inflation rate ticked up slightly in November, the state statistics agency said on Monday, showing further signs of levelling off following a series of sharp interest rate hikes. The rate moved to 61.98 percent last month from 61.36 percent in October, the TUIK state statistics agency said.
'Where is our future': Uganda declares war on used clothing
For nearly three decades, the chaotic, overcrowded Owino secondhand market in Uganda's capital has been the cornerstone of Hadija Nakimuli's life, helping the widowed shopkeeper build a house and raise 12 children. second-generation shopkeeper Harriet Musoke Kyambadde asked, her voice trembling with indignation.
Here is What we know about Evergrande's financial future
A Hong Kong court gave Chinese property giant Evergrande until the end of January to put together restructuring plan, offering the firm much-needed breathing room.
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