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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Historic German store KaDeWe files for insolvency
Iconic Berlin department store KaDeWe said Monday it had filed for insolvency, as rising rental prices in Germany left it struggling to stay afloat. Its iconic status has seen it become the subject of a television series in Germany, which dramatised the lives of employees at the up-market department store.
Buried in massive debt, Italy puts crown jewels up for sale
Prime Minister Giorgia Meloni once declared Italy's postal service a "crown jewel" that must stay in state hands, but she is now selling a stake as part of a privatisation programme to tackle a huge public debt. Nevertheless, the decision to sell a stake in the postal service to foreign investors marks a shift from a statement she made in 2018, four years before becoming prime minister.
Italy reveals energy, migration plan at Africa summit
African leaders gathered at a Rome summit on Monday to hear Prime Minister Giorgia Meloni's much-hyped plan for the continent, aimed at transforming Italy into an energy hub -- and stopping migration. The summit comes just months after Russia held its own summit with African leaders.
Protesting French farmers plan blockade of Paris
French farmers began moving on Paris on Monday, threatening to choke off major motorways and blockade the capital to press their demands better working conditions, in an intensifying standoff with the government. In neighbouring Belgium, farmers have stepped up their own campaign, blocking a key motorway on Sunday as they too demand better conditions.
Monaco royals rocked by new claims over offshore assets
Monaco royals rocked by new claims over offshore assets
Philips stops selling sleep devices in US amid recall woes
Under-fire Dutch medical device maker Philips said Monday it would halt new sales of sleep machines in the United States after a series of recalls that continued to weigh on results. "Until the relevant requirements of the consent decree are met, Philips Respironics will not sell new... sleep therapy devices or other respiratory care devices in the US," the company said.
Italy unveils energy, migration plan to African leaders
African leaders gathered at a Rome summit Monday where Prime Minister Giorgia Meloni will unveil her much-hyped plan for the continent, aimed at transforming Italy into an energy hub and stopping migration. - Pilot schemes - Meloni has said the plan is to start with a series of pilot schemes with the aim of then extending them across the continent.
Cement giant Holcim's shares soar after N. America spinoff news
Shares in Swiss construction giant Holcim surged on Monday after it announced plans to fully spin off its North America business. The hike came a day after the company announced plans to list its North American business in the United States during the first half of 2025 "with full capital market separation".
China's Evergrande: what happens next after liquidation order?
A Hong Kong court on Monday issued a winding-up order for Chinese real estate giant Evergrande, as the embattled firm teeters on the brink of bankruptcy. Evergrande was once China's biggest real estate firm, a giant in a sector that ballooned as property became the foundation of a burgeoning middle class's growing wealth.
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