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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Economy Latest News
Delta eyes record Q2 on still-strong demand
Delta Air Lines reported another round of strong earnings on Wednesday as it forecast a record second quarter based on consistently strong travel appetite. Delta reported first-quarter profits of $37 million compared with a loss of $363 million during the same period last year.
US consumer inflation accelerates in March, dampening rate cut hopes
US consumer inflation continued to accelerate last month, according to US government data published Wednesday, reducing the chances of an early interest rate cut from the Federal Reserve.
Joy, relief as Senegal ferry link with isolated south resumes
A ferry service between Senegal's capital Dakar and the southern city of Ziguinchor has resumed to the joy and relief of many who said its months-long suspension had cost them dearly. It was scheduled to arrive in Ziguinchor, the main city in Casamance, before midday (1200 GMT) on Wednesday.
Red-hot cocoa price melts profit at top chocolate-maker
Barry Callebaut, the world's biggest supplier of chocolate to the food industry, said Wednesday that the surge in global cocoa prices had chipped away at profits. "Food manufacturers continued to be impacted by soft consumer demand in the context of the high-inflationary environment," Barry Callebaut said in a statement.
Fitch downgrades China sovereign credit outlook on debt fears
Ratings agency Fitch said Wednesday it had downgraded China's sovereign credit outlook to negative, citing increased risks to the country's public finances, in a move Beijing swiftly called "regrettable". Fitch said its outlook revision "reflects increasing risks to China's public finance outlook" as the country "contends with more uncertain economic prospects".
Microsoft to invest $2.9 bn in Japan AI push
Microsoft on Tuesday announced a $2.9 billion investment over the next two years in Japan to bolster the country's push into artificial intelligence and strengthen its cyber defences in the face of threats from China and Russia. "This is Microsoft's single largest investment in its 46-year history in Japan," said Brad Smith, Vice Chair and President of Microsoft, who met Kishida on Tuesday.
Most Asian markets rise as traders jockey ahead of US inflation
Equities mostly rose in Asia on Wednesday following a tepid day on Wall Street, with investors lasering in on the release of crucial US inflation data that could have a huge bearing on the outlook for interest rates.
Record remittances provide lifeline in Central America
Money sent home by migrants in the United States to Central America has risen to record levels, providing a lifeline for many of their relatives like Salvadoran mother of three Marta Alvarado. Gustavo Juarez, who heads an association of Guatemalans deported from the United States, agrees.
US officials probing Boeing whistleblower claims on 787, 777
Federal aviation authorities are investigating claims by a Boeing engineer that the 787 Dreamliner suffers from assembly defects that threaten safety, US officials said Tuesday. The Federal Aviation Administration confirmed the investigation after the claims were outlined in a New York Times article describing charges from Salehpour, who has been at Boeing more than 10 years.
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