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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US banking system 'well-capitalized' despite risks: Yellen
US Treasury Secretary Janet Yellen said Thursday that the country's banking system is "well-capitalized" even as some banks face stresses stemming from the commercial real estate sector. "There are some risks, and there are some institutions that will face stresses from commercial real estate," she said.
French navy enforces fishing ban to protect dolphins
"They see us, and we see them," said French Navy Lieutenant Dany, board commander of a nimble Falcon 50 surveillance plane flying over the vast Bay of Biscay. The Falcon, which Dany said is "very fast", flies over vast zones several times per week.
Venezuela vows 'forceful' response if oil drilling begins in disputed zone
Venezuela on Thursday vowed a "forceful response" if oil drilling begins in contested waters off neighboring Guyana, as announced by US oil giant ExxonMobil this week.
ArcelorMittal profit falls after Kazakhstan mine disaster
Global steel giant ArcelorMittal Thursday posted a tenfold drop in net profit in 2023, taking hits from a withdrawal from Kazakhstan following a fatal mining accident and from its faltering Italian operations. ArcelorMittal said its withdrawal from Kazakhstan cost the company $2.4 billion.
Gucci owner Kering profits slump in 'trying year'
French luxury giant Kering on Thursday reported a drop in 2023 earnings but vowed to press on with its investment strategy to put flagship brand Gucci "back on track". "Our priority is to get Gucci back on track," Pinault said, warning that this "won't happen overnight".
Unions join Spanish farmer protests on third day
Spanish farmers blocked roads across Spain on Thursday for the third day running to protest against heavy regulation and cheaper imports, with the country's main farmers' unions joining the demonstrations for the first time.
Gaza war paralyses Israeli tourism for third year
In Israel's biblical city of Nazareth, the basilica is empty, restaurants and shops that usually thrive on Christian pilgrims are closed, and many hotels have been shut for months. The economy of Nazareth, set in the hills of northern Israel, is heavily dependent on Christian pilgrims, making it a bellwether for Israel's tourism industry on the whole.
Germany sends frigate to help secure Red Sea shipping
A German navy frigate set sail for the Red Sea on Thursday with the aim of protecting commercial ships from attacks by Yemeni rebels, as part of a planned European Union mission. The frigate's mission still needs to be confirmed by the German parliament and the European Union, however.
Del Monte guards in Kenya accused of beatings, rapes, killings
"The instructions were very clear: when you see a thief, you chase him until you arrest him and you beat him up brutally," says Daniel Kamau Wainaina, a former security guard on a Kenyan pineapple plantation owned by US food giant Del Monte. Wainaina said he worked for Del Monte for 25 years, mostly as a guard.
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