The famous V&A Waterfront generated over R11 billion in 2025, averaging more than R30 million daily while supporting thousands of jobs in Cape Town.
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Stocks swing after latest selloff as Fed, Middle East dampen sentiment
Asian markets fluctuated Wednesday as Federal Reserve boss Jerome Powell's indication that interest rates could stay higher for longer offset a rebound following the latest bout of Middle East-fuelled selling. While on edge for any further escalation, trading floors are relatively calm Wednesday, with oil prices edging down despite the crises in the Middle East, Ukraine and OPEC output cuts.
Boeing safety in spotlight at US Senate hearing
Boeing is expected to face a bruising once-over Wednesday as company critics testify at a US Senate hearing, including an employee who has characterized the top-selling 787 as prone to disaster. Boeing representatives will not testify at the hearing, but the company said it is cooperating with the inquiry.
'We are not Fed-dependent,' ECB chief says on rate cuts
European Central Bank president Christine Lagarde suggested Tuesday that the regulator could lower interest rates before a similar move by the US Federal Reserve, saying "we are not Fed-dependent." "It's on that basis that we have to make our decision and not on the basis of any central bank in the world, be it the Fed."
Canada budget woos young voters, asks rich to pay more
The government of Canadian Prime Minister Justin Trudeau on Tuesday unveiled a federal budget that seeks to woo young voters while asking the wealthy to pay higher taxes. "Today, it is possible for a carpenter or a nurse to pay tax at a higher marginal rate than a multi-millionaire," Freeland told lawmakers.
Canada budget forecasts 'soft landing' in 2024, avoiding recession
Canada is expecting a "soft landing" this year and will avoid a recession due to slightly improved growth despite relatively high interest rates weighing on the economy, the government's federal budget said Tuesday.
US Fed's Powell says inflation fight may take 'longer than expected'
The US Federal Reserve's ongoing fight against inflation could take "longer than expected," the head of the US central bank said Tuesday, further paring back the chances of early rate cuts. In March, Fed policymakers penciled in three rate cuts for this year, leading markets to price in the first of them as early as June.
Yellen says US set to tighten sanctions on Iran soon
US Treasury Secretary Janet Yellen warned Tuesday of further sanctions targeting Iran following its unprecedented attack on Israel over the weekend, saying she expects Washington will take added action "in the coming days."
Behind the growth, Ivory Coast's debt fuels debate
Abidjan's soaring Alassane Ouattara bridge lit up at night in the colours of the national flag is Ivory Coast's jewel in the crown after years of investment. - 'Nothing to worry about' - "Debt in itself isn't a bad thing but we are facing in Ivory Coast's case unproductive debt," Ahoua Don Mello, vice president of the BRICS group of emerging nations, said.
IMF ups global growth forecast but signals medium-term pessimism
The IMF has raised its outlook for the global economy this year, while maintaining a gloomy forecast over the medium term, according to fresh data published Tuesday. "The global economy continues to display remarkable resilience, with growth holding steady and inflation declining," IMF chief economist Pierre-Olivier Gourinchas told reporters on Tuesday.
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