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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Swiss-Italian chocolate war set to end with sweet truce
Swiss giant Lindt said Thursday a deal may soon be reached with group of Italian artisan chocolatiers that will allow for the creation of a protected status for Turin's famed gianduiotto.
Lagos state intervenes to ease Nigeria cost of living crisis
The governor of Nigeria's Lagos state on Thursday unveiled a series of measures aimed at easing the soaring cost of living after protests broke out.
Argentine austerity anger mounts, but govt says its working
Argentine trains ground to a halt and hospitals were left running on fumes this week as austerity measures sparked mass walkouts -- even as the country boasted its first budget surplus in 12 years. In January, Argentina reported its first monthly budget surplus in 12 years, while boosting the country's meagre foreign currency reserves from $21 billion to $27 billion.
US Fed official warns of inflationary risk of over-consumption
A senior Federal Reserve official confirmed Thursday that the US central bank still intends to start cutting interest rates "at some point this year," but warned against the potentially inflationary effect of over-consumption. The number two man at the US central bank said he still expects growth in spending and production in the US to slow in 2024.
Gaza economy shrank by more than 80% in 4th quarter due to conflict: World Bank
The Israel-Hamas war has had a "catastrophic" impact on Gaza's infrastructure and caused its economy to contract by more than 80 percent in the fourth quarter of the year, the World Bank said.
US home sales tick up in January on lower mortgage rates
Existing home sales in the United States crept up in January, according to industry data released Thursday, on slightly higher listings and demand as buyers made the most of cooler mortgage rates. This was the strongest since August 2023, as mortgage rates edged down slightly in the month.
Anti-fur activists target Max Mara, Fendi at Milan Fashion Week
Animal activists have fashion brands squarely in their sights this Milan Fashion Week, hoping to pressure Italian brands Max Mara and Fendi to give up fur in future collections. At Fendi, fashion student Elke Orth, 21, said top brands still using fur have oversized influence, even though attitudes among young people have changed.
Turkey ends tightening cycle, keeps interest rate at 45%
Turkey's central bank maintained its key interest rate at 45 percent on Thursday, marking the end of its monetary tightening cycle after eight consecutive months of hikes. Turkey's central bank, which has raised its key rate from 8.5 percent to 45 percent since June, said last month that the level was sufficient to start easing the cost of living crisis.
Eiffel Tower closed for fourth day as staff strike
France's iconic Eiffel Tower was closed for a fourth day on Thursday as employees extended a strike over the monument's management, unions said. Union representatives were to meet SETE management in the afternoon, they told AFP. Unions have also called on the city of Paris "to be reasonable with their financial demands to ensure the survival of the monument and the company operating it".
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