South Africa's Reserve Bank plans to eliminate the prime interest rate, transitioning to repo rate loans and adopting ZARONIA, improving transparency in lending.
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Between the office and nature for Prada's winter menswear
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UBS to spell out growth plan after Credit Suisse takeover
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R1,000 grocery budget can barely feed one child a nutritious diet for a month, report shows
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Germany unveils huge electricity price relief for industry
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EU chief plunged into controversy over top job pick
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Lufthansa doubles profit in 2023, but strikes cast shadow
German airline giant Lufthansa more than doubled its profits in 2023, extending a rebound from the coronavirus pandemic even as it faces fresh risks from a wave of industrial action. Like other airline groups, Lufthansa was hit hard when the coronavirus shut down global air travel and it had to be bailed out by the German government in 2020.
Lufthansa doubles profit in 2023 as demand booms
German airline giant Lufthansa said Thursday it had doubled profits in 2023 on booming demand, as the aviation sector extends a rebound from the coronavirus pandemic. Like other airline groups, Lufthansa was hit hard when the coronavirus shut down global air travel and it had to be bailed out by the German government in 2020.
China trade surges in first two months of 2024
China's exports sharply accelerated in the first two months of 2024, official figures showed Thursday, providing policymakers a bright spot as they battle to revive the world's second-largest economy. Exports have been increasing since November, after six straight months of contraction.
Protectionism, taxes, fuel: The high cost of air travel in Africa
Travelling 1,000 kilometres (620 miles) by air between two capitals on the same continent does not seem like a challenge. For now, "regional travel across the continent is very challenging and makes business hard", said construction consultant Munga.
Asian markets swing ahead of key US jobs data
Equities fluctuated in Asian trade Thursday as investors try to assess the Federal Reserve's plans for interest rates after boss Jerome Powell indicated they would start to come down this year. Traders are also keeping an eye on a policy meeting of the European Central Bank later Thursday, which is not expected to see any movement but investors are hoping for some guidance.
Despite oil riches, Libyans hit by plummeting purchasing power
Libya may sit on Africa's biggest oil reserves, but many families are struggling with rapidly rising consumer prices as the festive Muslim holy month of Ramadan nears. Economic analyst Abubakr al-Tur said "Libya is experiencing a critical situation with rising prices and a currency devaluation".
Sticky inflation to keep eurozone interest rates on hold
Sticky inflation is expected to prompt eurozone rate-setters to hold borrowing costs steady again Thursday, as they await clearer signs of a sustained easing of consumer prices before beginning to cut. The Frankfurt-based institution's governing council is widely expected to hold the benchmark deposit rate steady at a record four percent for a fourth straight meeting on Thursday.
Bulk carrier hit by missile from Yemen, crew says three dead
A missile fired by Yemen's Huthi rebels hit a bulk carrier in the Gulf of Aden on Wednesday, with the crew reporting three people dead and at least four wounded, the US military said.
Boeing slammed for dragging feet in Alaska Airlines probe
The head of the federal investigation into a troubled January flight on a Boeing 737 MAX jet blasted the aviation giant on Wednesday for not providing key information quickly. "Early in the investigation, we provided the NTSB with names of Boeing employees, including door specialists, who we believed would have relevant information," the company said.
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