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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EU chief plunged into controversy over top job pick
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Eastern Cape has the highest unemployment rate in South Africa, netizens disappointed
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Private sector hiring in US cools more than expected: ADP
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Fly larvae: Costa Rica's sustainable protein for animal feed
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Thailand orders close watch on cheap 'elephant pant' imports
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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".
UK to quit 'outdated' fossil fuel friendly treaty
The UK will join a string of European countries in leaving a controversial energy treaty that has allowed fossil fuel giants to sue governments over their climate policies, the government said on Thursday. To do that, it allowed energy companies -- many of them using coal and other fossil fuels -- to sue governments over policies putting their investments at risk.
Financial security, not fine art, helps drive Japan stocks to record high
Before Japan's asset bubble catastrophically burst in the early 1990s, stockbroker Ryuta Otsuka remembers waving a 10,000-yen note to hail a taxi after evenings sipping champagne at high-end Tokyo nightclubs. You couldn't catch one without waving a 10,000-yen note," he told AFP. The bill was worth around $70 back then and now -- although in the 1980s a greenback could buy a lot more than today.
Airbus says Vietjet to buy 20 widebody A330-900 planes
European aviation giant Airbus said Thursday that Vietnamese airline Vietjet Air has agreed to buy 20 of its A330-900 planes. Vietjet signed a memorandum of understanding with Airbus for the widebody aircraft, which will replace its current fleet of leased A330-300 planes, Airbus said in a statement.
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