South African salary earners saw a nominal pay rise in June 2026, but inflation eroded real incomes, with economists warning of further budget strain ahead.
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From 8 million to 12 million: Expert reveals the scale of South Africa's unemployment problem
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President Yoon Suk Yeol on Tuesday announced billions of dollars in new aid and investment support for Africa, as South Korea looks to boost trade ties with the continent.
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Asian markets fell Tuesday as traders were spooked by signs of weakness in the US economy, even as the data boosted hopes the Federal Reserve will cut interest rates this year. While traders have of late taken soft economic data as a positive sign, owing to the fact it gives the Fed room to cut rates, the latest news stoked concerns about the outlook for the economy.
Nigeria union strike shuts power grid, schools, disrupts flights
Nigerian labour unions shut down the national power grid and disrupted flights Monday as they began an indefinite strike that closed schools and public offices after failing to strike a new minimum wage deal with the government. In the northern city of Kano, government offices and public schools were closed.
Canadian investment group buys French club Saint-Etienne
Canadian investment group Kilmer Sports Ventures (KSV) have acquired former French footballing giants Saint-Etienne on Monday a day after the club returned to Ligue 1. KSV is part of Kilmer Group, a Toronto-based firm specialising in private equity, real estate, sports and media.
Microsoft to invest $3.2 bn in AI in Sweden
Microsoft said Monday that it would invest 33.7 billion kronor ($3.2 billion) over two years in cloud and artificial intelligence infrastructure in Sweden, its biggest investment in the country.
Turkish inflation exceeds 75% but peak in sight
Turkish inflation jumped above 75 percent in May, official data showed Monday, but officials expect consumer prices to have finally peaked in a cost-of-living crisis that has dogged President Recep Tayyip Erdogan. Turkey has been battling soaring consumer prices that prompted Erdogan to drop his opposition to interest-rate hikes to combat inflation.
Homeowners and housebuilders pin hopes on ECB rates cut
In the west Frankfurt suburbs on a plot wedged between a motorway and a wooded park, excavators are preparing the ground for 400 new apartments.
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In shakeup, Washington Post executive editor steps down
The executive editor of the Washington Post, Sally Buzbee, has abruptly stepped down from the role, as the storied American newspaper undergoes a major restructuring, its chief executive said late Sunday.
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