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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IMF says global debt levels face 'Great Election Year' risk
The path towards sustainable government debt levels around the world is under threat this year from the sheer number of elections taking place, the IMF said Wednesday in a new report.
Consumer price inflation drops to 5.3% from 5.6%, South Africans are not comforted
Consumer price inflation decreased by 0.3% from February to March this year. Food inflation also decreased, but South Africans were wary of the decrease.
Biden pushes to triple tariffs on Chinese steel, aluminum
US President Joe Biden is urging a tripling of tariffs on Chinese steel and aluminum as he visits Pittsburgh Wednesday, citing "unfair competition" while seeking to win blue-collar votes in November's election. Both Biden and his election rival Donald Trump are competing for vital blue-collar voters, promising to revive American manufacturing.
Tesla asks shareholders to reapprove huge Musk pay deal
Tesla will ask its shareholders in June to ratify a multi-billion-dollar 2018 pay package for CEO Elon Musk that was squashed by a US court earlier this year.
EU questions TikTok over new Lite app in France, Spain
The EU gave TikTok 24 hours to provide a risk assessment on its new Lite app launched in France and Spain over concerns of its potential impact on children and users' mental health, the European Commission said on Wednesday.
EU must act quickly to catch up to US, warns report author
The EU risks lagging further behind the United States unless Brussels makes significant changes to the single market to give it "teeth", warned the author of a report that will be submitted to leaders Thursday. "EU companies currently lag behind their global counterparts, particularly those in the US and China," the report warns.
Wine growers 'on tip of Africa' race to adapt to climate change
At a South African wine farm, dry, uprooted grapevines are stacked at the bottom of a hilly stretch of brown fallow land. To better deal with heavy rains, the new grapevines are being laid out to conform with the hilly landscape.
ASML profits, bookings down amid China chip spat
Dutch tech giant ASML, which supplies chip-making machines to the semiconductor industry, on Wednesday reported a drop in net profits and orders amid a high-tech trade spat between China and the West. ASML announced this year that it had been blocked from exporting "a small number" of its advanced machines to China, amid reports of US pressure on the Dutch government.
Apple CEO meets Indonesia leader to talk investments
Apple chief executive Tim Cook met Indonesia's president on Wednesday, as the tech giant explores ways to invest in Southeast Asia's biggest economy and diversify supply chains away from China. The visit comes as US President Joe Biden's administration seeks to boost other Asian trade partners' roles in the global tech supply chain to reduce American dependence on China.
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