Scarborough, a once quiet conservation village in the Western Cape, has become a talking point online as foreign investors are apparently taking advantage.
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China's Xi in Serbia for talks to boost economic ties
Chinese President Xi Jinping will hold talks with his Serbian counterpart in Belgrade on Wednesday, as Beijing seeks to deepen its political and economic ties with friendlier countries in Europe. In Belgrade, the Chinese leader will meet President Aleksandar Vucic for talks on Wednesday, before heading to Budapest.
Argentina introduces 10,000-peso banknote
Inflation-battered Argentina on Tuesday introduced a 10,000-peso banknote, worth the equivalent of about $11 -- five times the face value of the previous biggest 2,000-peso bill. The issuing of high-domination banknotes is nothing new in Argentina, which had a bill with a face value of 1,000,000 pesos in the 1980s. mry/mlr/sst
Ferrari confirms 2024 guidance after first quarter boost
Italian luxury carmaker Ferrari on Tuesday posted a double digit rise in both profits and sales for the first quarter of 2024, and confirmed its full-year guidance. For the whole of 2024, the group continues to expect revenue growth of more than 7 percent to more than 6.4 billion euros and gross operating income, or EBITDA, to rise by a similar amount 2.45 billion euros.
Major German companies warn against vote for extremism
Germany's biggest companies said Tuesday they have formed an alliance to campaign against extremism ahead of key EU Parliament elections, when the far right is projected to make strong gains. It added that the campaign will continue after the EU elections, with three eastern German states to vote for regional parliaments in September.
Saudi Aramco says Q1 profit down 14.5 percent
Oil giant Saudi Aramco said Tuesday its first-quarter net profit dipped 14.5 percent on year to $27.27 billion as the Gulf kingdom kept production cuts in place. Net income was 102.27 billion riyals ($27.27 billion), down from 119.54 billion riyals ($31.88 billion) for the same period in 2023, Aramco said, adding that "the decrease was primarily a result of lower crude oil volume sold".
Saudi Aramco's Q1 profit down 14.5 percent: statement
Oil giant Saudi Aramco announced first-quarter net profit of $27.27 billion on Tuesday, down 14.5 percent from last year as the Gulf kingdom kept production cuts in place. Net income was 102.27 billion riyals ($27.27 billion), down from 119.54 billion riyals ($31.88 billion) for the same quarter in 2023, Aramco said, adding that "the decrease was primarily a result of lower crude oil volume sold".
UBS net profit up 71% after two quarters in the red
Swiss banking giant UBS on Tuesday said first quarter net profit rose 71 percent to nearly $1.8 billion after two quarters in the red due to the takeover of Credit Suisse. In March 2023, Swiss authorities strongarmed UBS into the $3.25-billion takeover to prevent Credit Suisse from going under with catastrophic consequences for the global financial system.
Chinese mill blamed for turning Serbia village red with pollution
In the eight years since Chinese company HBIS bought a steel mill near the eastern Serbian city of Smederevo, locals say they have been plagued by heavy air pollution and thick red dust. - Cancer cases quadrupled - The Serbian Environmental Protection Agency has ranked Smederevo repeatedly among the country's most polluted cities, classified as having "excessively polluted air".
Asia tracks another rally on Wall St as US rate optimism lingers
Asian markets built on the latest global rally Tuesday as optimism that the US Federal Reserve will cut interest rates this year continued to breeze through trading floors.
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