money
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Qatar Airways’ investment in Airlink, an airline mainly serving southern Africa, represents confidence in the region’s aviation industry, the managing director of Airlink’s Namibia partner, FlyNamibia, said. “The biggest benefit of Qatar’s investment in Airlink, from FlyNamibia’s perspective, is the confidence shown by Qatar as a leading international carrier to invest in our industry in…
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WHSmith has launched a café brand as it seeks to expand into the food-to-go market. The first café is in Princess Anne Hospital in Southampton and offers teas and coffees, hot breakfasts and pastries Its branding is the same as the Smith Family Kitchen food-to-go range launched three months ago. WHSmith UK travel managing director…
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It’s been a busy week on the economic front. There was no major shift in the overall outlook – since Monday we’ve had it confirmed that the UK economy has lower inflation and more growth than the last two years, while wages have grown faster than the overall pace of price rises. On the back…
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Norwegian Prime Minister Jonas Gahr Store on Friday inaugurated Europe’s first gigawatt-scale factory for Lithium Iron Phosphate (LFP) batteries. Located in Arendal, southern Norway, the factory is owned by the start-up Morrow Batteries. Achieving yet another significant milestone, Morrow Batteries can produce 3 million battery cells annually, amounting to a capacity of 1 GWh. Addressing…
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Starbucks has suddenly replaced its chief executive after the company suffered a bigger-than-expected drop in sales. The coffee chain’s board announced on Tuesday that Laxman Narasimhan had departed the firm “effective immediately”. They said Brian Niccol – the boss of burrito chain Chipotle – would soon take his place. It comes following mounting pressure and…
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A group of retired Nigerian soldiers who fought during the Civil War have appealed to the federal government to pay their outstanding pension arrears. The 63 retired Nigerian Army soldiers, who were enlisted between 1967 and 1978, claimed they had not received their pension payments despite President Muhammadu Buhari’s approval of N134.7 billion for military…
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Nigeria’s leading commercial bank, Guarantee Trust Bank, has described as entirely false report of its website being seized by hackers. A top GTB executive, who is not authorized to speak, disclosed this to the media. The clarification comes amid a report that its website has been compromised by hackers and customers’ data intercepted in a…
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The labor demand in Malaysia continued to expand in the second quarter, with the number of jobs increasing by 1.5 percent year on year to 8.96 million, official data showed Wednesday. The Department of Statistics Malaysia (DOSM) said in a statement that the growth in the number of jobs is aligned with the unemployment rate…
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Retail sales in Singapore decreased 0.6 percent year-on-year in June, reversing the 2.2 percent growth in May, the Department of Statistics said on Monday. The motor vehicle sales grew 19.5 percent in June from a year earlier but dropped 9.1 percent month-on-month. Excluding motor vehicles, retail sales fell 3.1 percent from last year. The estimated…
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The Monetary Authority of Singapore (MAS) on Friday announced a review group to strengthen equities market development. Led by minister for transport, second minister for finance, and MAS board member Chee Hong Tat, the group involves private sector stakeholders and public sector representatives. The group will propose measures to encourage the Singapore Exchange (SGX) to…
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Finance ministers and central bank presidents of the Group of Twenty (G20) concluded their third meeting Friday in Rio de Janeiro, adopting a joint communique that calls for a more just, stable, and efficient international tax system. “We acknowledge the urgency and importance of realignment in quota shares to better reflect members’ relative positions in…
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Ghana’s central bank on Friday announced that it would deepen its strong monetary policy stance despite the recent reductions in the inflation rate. Ernest Addison, governor of the Bank of Ghana, reiterated this resolve during a press briefing after the central bank’s latest meeting of the monetary policy committee (MPC) to assess the economy. Addison…
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Most economists believe that inflation, deficits and interest rates would be higher during a second Donald Trump administration than if Joe Biden remains in the White House, according to a Wall Street Journal survey. The Journal’s survey received responses from 68 professional forecasters from business, Wall Street and academia. Of the 50 who answered questions…
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Kenya’s foreign exchange reserves hit a new high of 7.896 billion U.S. dollars Friday after rising 121 million dollars, the Central Bank said in its weekly update of the financial markets. The surge comes about a week after the country fully settled its 2 billion dollar Eurobond debt taken in 2014 using a loan from…
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As inflation continues to pressure Americans, they increasingly lean into credit cards. High rates concern them — and more are holding off if terms are too dear — but the tide still sees reliance on plastic support winning out. In the face of continuing inflation, Americans continue to seek unsecured credit. They are increasingly opting…
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Japan’s real wages fell 2.2 percent in fiscal 2023 from the previous year, logging the sharpest drop in nine years, as inflation outpaced pay increases, the government said Thursday. The inflation-adjusted wages declined for the second straight year following a 1.8 percent decrease in fiscal 2022, marking the largest drop since fiscal 2014 when real…
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