A report reveals R100 in 2000 is now worth R385 in 2026, with food prices soaring over 500%, driven by fuel costs and inflation impacting South African households.
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South Africa set to scrap prime interest rate for new SARB system
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Consumer price inflation increases to 4%, the highest in 20 years
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Bankman-Fried to testify at his US crypto trial
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My Beauty Expo 2026 Launches Pan-African Vision at Official Media Briefing in Sandton
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China posts forecast-beating growth in first quarter
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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.
Shipping giant Maersk's profit sinks, warns of Red Sea risk
Shares in shipping giant Maersk dived on Thursday after it warned of an uncertain 2024 earnings outlook linked to an oversupply of container vessels and Yemeni rebel attacks in the Red Sea. The "oversupply challenges" in the maritime shipping industry are expected to "materialise fully" over the course of 2024, Maersk said.
Unilever profit drops as sales flatten after price hikes
British consumer goods giant Unilever on Thursday said its net profit dropped 15 percent last year to 6.5 billion euros ($7 billion) as sales flattened as the group hiked prices. Group revenue dipped 0.8 percent to 59.6 billion euros last year compared with 2022.
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