Asian Equities Reel as US Debt Crisis Intensifies
The Asian equities market experienced a significant downturn as concerns mounted over a potential US default on its debt, compounded by the ongoing struggle to reach a resolution in debt deal negotiations. These uncertainties have led credit rating agency Fitch to issue a warning, indicating that the US’s highly esteemed credit rating is at risk. […]
Ukraine’s Strategic Embrace of Africa’s Power Potential
Ukraine has recently announced its plans to bolster its diplomatic presence in Africa, highlighting its commitment to deepening partnerships with countries on the continent. In light of Russia’s ongoing diplomatic offensive in Africa, Ukraine aims to establish new embassies in various regions of Africa and host the inaugural Ukraine-Africa Summit. Foreign Minister Dmytro Kuleba emphasized […]
Thabo Mbeki Exposes Africa’s Struggle with Implementation Gap
Former President Thabo Mbeki recently addressed the media during a briefing held by his foundation in Conakry, Guinea, on the occasion of Africa Day. Mbeki highlighted the existence of protocols and instruments for problem-solving on the African continent but expressed concern about the lack of effective implementation. This article delves into Mbeki’s observations, focusing on […]
Crippling Inflation and its Toll on South Africa’s Economy
South Africa is currently grappling with a host of economic challenges that threaten its stability and growth prospects. Load shedding, high inflation, and a weakened local currency have been cited by the South African Reserve Bank Governor, Lesetja Kganyago, as imminent threats to the economy. As a response to these concerns, the repo rate was […]
Inflation Eases, Hope Increases: Positive Prospects for South African Consumers
Consumers in South Africa can breathe a sigh of relief as the country’s inflation rate experiences a notable decline. In April, inflation cooled down from 7.1% to 6.8%, marking the lowest reading in nearly a year. This unexpected drop defied the predictions of some economists who anticipated persistently high inflation. While this overall improvement is […]
Cathay Pacific fires cabin crew over discrimination claim
Cathay Pacific Airways has fired three flight attendants after a complaint that they had discriminated against non-English speaking passengers. They were sacked after an audio clip of the cabin crew apparently mocking passengers went viral. The Hong Kong carrier launched an internal investigation and apologised for causing “widespread concern”. Chinese state media claimed the airline […]
South Africa’s budget has a politics problem
The government is faced with the challenge of making budgetary sacrifices to address rising fiscal challenges – however, it is unclear what should be cut off. During his national budget speech, finance minister Enoch Godongwana announced that this year’s budget included ‘difficult trade-offs’ that would see him having to fund an additional R37.5 billion in […]
