New data from reveals that the average household food basket costs R5,479.26 a month, and feeding one child a nutritious diet costs nearly R1,000.
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Hermes bags sales growth except in Asia
French luxury group Hermes, known for its leather bags and silk scarves, on Tuesday said it continued to see sales growth in the third quarter despite a dip in Asia. Sales in Asia outside Japan dipped 0.1 percent in the third quarter, but the company said this is partially due to an exceptional performance last year due to Covid restrictions being lifted in China setting off a surge in spending.
Israel-Hamas war risks 'serious' economic damage: World Bank president
The war between Israel and Hamas could deal a "serious" blow to global economic development, the president of the World Bank told an investor conference in Saudi Arabia on Tuesday.
The South African Post Office faces dire financial crisis: Can former CEO Mark Barnes save the day?
South Africans are calling for former CEO Mark Barnes to rescue the South African Post Office (SAPO) as it faces financial turmoil, deeming it technically insolvent.
Drought-hit farmers in US heartland hope Mississippi 'comes back'
Jonathan Driver, an Arkansas farmer with blackened hands and a thick southern drawl, doesn't have a minute to spare. Plus, local farmers feel a real attachment to the Mississippi.
Qatar Airways chief Akbar Al Baker to step down
Qatar Airways' longstanding chief executive Akbar Al Baker is to step down from his role, the state-owned airline announced on Monday. In a statement, Qatar Airways confirmed Baker, who served the airline for 27 years, "will be stepping down from his current position as group chief executive officer effective November 5th, 2023".
US auto union halts work at Stellantis plant, expanding strike
The US auto workers union halted work at a giant Stellantis truck plant on Monday, expanding a five-week strike hitting Detroit automakers. The United Auto Workers action means that 6,800 workers walked off the job in Sterling Heights, Michigan, where the European auto giant assembles the highly profitable Ram 1500 pickup trucks.
France says talking to Saudi about Rafale fighter sale
The French government is talking to Saudi Arabia about selling the kingdom Rafale fighter jets, France's defence minister said on Monday. The Rafale, a twin-engine multirole fighter aircraft, is a bestseller for the French arms industry, and helped push French weapons exports to a record high last year.
US oil giant Chevron to buy rival Hess for $53 bn
US energy giant Chevron will buy its rival Hess for $53 billion in an all-stock deal, the companies announced in a joint statement on Monday. Chevron's deal values Hess's equity at $53 billion, while the total enterprise value of the transaction, including debt, is $60 billion, according to the statement.
Kenyan shilling hits record low of 150 to the dollar
The Kenyan shilling sank to a new all-time low of 150 to the dollar on Monday, adding to the woes of people already battered by high inflation and a raft of new taxes. According to Central Bank of Kenya data, the dollar was selling at just over 150 shillings, although some commercial banks and foreign exchange bureaux have been trading it at that level or higher in recent weeks.
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