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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In historic election, Volkswagen workers in Tennessee vote to unionize
Volkswagen workers in Tennessee voted decisively to become a union shop, according to election results released Friday, marking the first victory for organized labor at a foreign-owned auto plant in the American South.
Hong Kong regulator to investigate PwC auditing of Evergrande
Hong Kong's accounting regulator said it would start an investigation into PwC's role in auditing Chinese real estate giant Evergrande, citing the publication of a "whistle-blower report". On Friday, Hong Kong's Accounting and Financial Reporting Council said "a whistle-blower report" had come to its attention.
IMF calls on EU to deepen single market integration to boost growth
Deeper integration of the European Union's internal market could prove crucial for boosting lackluster economic growth and productivity levels in the 27-member trading bloc, a senior IMF official told AFP Friday. Beyond deepening regional integration, the IMF report suggested other ways to boost flagging productivity levels, including by increasing digitalization and enacting structural reforms.
US fines Thailand-based firm $20 mn for Iran sanctions violations
The United States fined a Thailand-based firm $20 million on Friday for more than 450 possible Iran sanctions violations -- a day after Washington slapped fresh sanctions on Iran following last weekend's attack on Israel.
Advanced economies pledge $11 bn to boost World Bank lending
A group of advanced economies have pledged $11 billion in new funding commitments to boost the World Bank's lending capacity by up to $70 billion over a decade, the development lender announced Friday. By leveraging the resources pledged, the bank should be able to provide up to $70 billion in new lending over a 10-year period.
P&G profits rise despite hit from Middle East tensions
Procter & Gamble reported higher profits Friday, citing strong demand in the United States and many European markets that offset weakness elsewhere due to Middle East tensions and a lackluster performance in China. Chief Financial Officer Andre Schulten described consumption as "very strong" in the United States and in leading European markets.
Oil, gas drilling blocked in Alaska wilds as Biden seeks green cred
The United States on Friday blocked oil, gas and mining operations across tracts of unspoiled wilderness in Alaska, winning praise from environmentalists for safeguarding habitat for polar bears, caribou and other Arctic species.
China auto sector steps up Europe push with Spain plant
Chinese carmaker Chery signed a deal Friday to produce mainly electric vehicles in Spain, as Beijing's auto sector pushes ahead with plans to expand into Europe despite growing competition concerns. It is the second Chinese carmaker to set up in Europe after China's top electric carmaker BYD said in December it would build a factory in Hungary.
Kyrgyzstan's TikTok block builds censorship fears
In her photography studio in the capital of Kyrgyzstan, Aku Sharsheeva, tried unsuccessfully to connect to TikTok this week. Sharsheeva had used TikTok, which has more than one billion monthly users worldwide and is owned by Chinese tech giant ByteDance, to market her photography business.
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