HONG KONG – Stocks skidded yesterday as traders continue to pull back from the buying that has propelled markets to record highs in recent months, with upcoming US inflation and jobs data seen as likely to be the next catalysts for action.Investors have been on a buying spree since shares hit deep lows in the...
BRUSSELS – The European Commission launched an antitrust probe into German software giant SAP Thursday over fears the company’s practices may have distorted competition.SAP, which offers both traditional software and cloud-based computing services, can now offer commitments to address the commission’s concerns, the EU executive said.“We are concerned that SAP may have restricted competition… by...
GENEVA – The World Trade Organisation (WTO) Wednesday hailed Beijing’s decision to no longer seek new special treatment in future WTO talks, calling it a step towards a more equitable global trading system.“This is a pivotal moment for the WTO,” organisation chief Ngozi Okonjo-Iweala said in a statement.“China’s decision reflects a commitment to a more...
KATIMA MULILO – Employees of the Northern Regional Electricity Distributor (Nored) here, staged a peaceful demonstration outside the offices of the company yesterday morning. Sanctioned and facilitated by the Mineworkers Union of Namibia, the employees registered “deep dissatisfaction in the manner labour issues are handled within the company, particularly by the management” under the leadership...
Namibia’s Social Security Act of 1994 laid the groundwork for a National Pension Fund (NPF) to provide old-age income protection for all citizens. Over the past 30 years, the Social Security Commission has sought a viable policy and legal framework for its implementation. Meanwhile, formal sector employers and employees contribute 12 to 20% of salaries...
Rudolf Gaiseb Popular Democratic Movement legislator Winnie Moongo on Tuesday questioned education minister Sanet Steenkamp regarding the University of Namibia’s implementation of the Bachelor of Science in Public Health programme without obtaining approval from the Health Professions Council of Namibia. “It raises serious concerns about governance, regulatory compliance and accountability in our higher education system,”...
Rudolf Gaiseb Some northerners are divided, distressed and confused amid ongoing disputes over traditional authority in certain regions. This is according to the Body of Christ Party (BCP) president Festus Thomas. During the Tuesday Parliament session, he argued that the voices of legitimate traditional communities are being undermined. He added that leadership is being imposed...
Lahja Nashuuta Festus Uugwagwa Abiatar, known to his peers as ‘Fessy, is far more than just a civil servant behind a desk. As an administrative control officer in the Ministry of Home Affairs, Immigration, Safety and Security (MHAISS), he plays a pivotal role in ensuring Namibians enjoy one of their most fundamental rights – legal...
Recent offshore oil and gas discoveries in Namibia could prove to be a turning point for the country. There is potential to attract billions in investment, create thousands of jobs, and drive major infrastructure projects. For a country striving to diversify its economy, this represents a once-in-a-lifetime opportunity. However, to avoid the ‘resource curse’ and...
After nearly a year of tense negotiations, Namibia’s fishing industry witnessed a historic breakthrough this week. Hundreds of workers employed by NovaNam (Pty) Ltd and Lalandii (Pty) Ltd finally secured a wage agreement after 12 months of protracted bargaining. The signing of the Memorandum of Agreement, overseen by Minister of Justice and Labour Relations Fillemon...