CAPE TOWN – South Africa’s finance minister on Wednesday unveiled a budget with a smaller increase in value-added tax than previously proposed, but it was immediately rejected by a key party in the unity government. Finance Minister Enoch Godongwana presented the revised budget to parliament three weeks after his first version was withheld at the...
WASHINGTON – Major US trading partners announced countermeasures on Wednesday after Donald Trump’s blanket tariffs on steel and aluminium imports took effect, prompting the president to vow a further response. The steep 25% levies contained no exemptions despite countries’ efforts to avert them, marking an expansion from Trump’s recent duties on Canada, Mexico and China...
DUBAI – United Arab Emirates-based fund MGX has invested US$2 billion to take a minority stake in cryptocurrency exchange Binance, the two sides said, calling it the biggest investment into a crypto company. MGX, headed by Sheikh Tahnoon bin Zayed Al Nahyan, brother of the UAE’s president, also becomes Binance’s first institutional investor. The transaction,...
The European Union (EU) and the German Federal Ministry for Economic Cooperation this week launched a new project to implement the Blue Benguela Current Action programme. The programme was launched at an event in Swakopmund on Wednesday. This regional initiative aims to enhance governance and cross-border cooperation for the sustainable management of the Benguela Current...
In line with its 2030 ambition to decarbonise the hydrogen used in its European refineries, TotalEnergies has signed an agreement with German developer RWE to supply 30 000 tonnes of green hydrogen a year to the German Leuna refinery for 15 years, beginning in 2030. The green hydrogen will be produced by a 300 MW...
In February, Nedbank Namibia hosted its prestigious Top Achievers Awards, an annual event dedicated to recognising and celebrating the remarkable contributions of its employees over the past year. The ceremony was a platform to honour individuals and teams whose dedication, innovation and commitment to excellence have driven the bank’s success and growth. The awards acknowledged...
IMPALILA ISLAND – A new chapter has opened at Impalila Island with the commissioning of a N$2.9 million floating jetty. The inauguration ceremony on Monday was led by deputy prime minister John Mutorwa, who is also works and transport minister. It marked the beginning of a significant milestone in the island’s development. “This jetty is...
Kavetja Ngaizuvare The Namibia Revenue Agency (NamRA) has recovered N$3.4 million from tax dodgers, thanks to whistle-blower reports. Since launching the NamRA Whistleblowing Hotline in May 2024, managed by Deloitte Namibia, the agency has received 60 reports on fraud, tax evasion, money laundering and other unethical practices. The hotline has led to assessments totalling N$15.8...
LONDON – European and Asian stock markets diverged yesterday after a sharp sell-off on Wall Street fuelled by fears about the US economy as president Donald Trump presses ahead with steep tariffs. Traders had initially welcomed Trump’s election win in late 2024, optimistic that his promised tax cuts and deregulation would boost the world’s biggest...
COPENHAGEN – Lego’s CEO told AFP that US President Donald Trump’s tariff threats do not keep him up at night, as the world’s largest toymaker yesterday posted record earnings for 2024.Sales rose 13% to 74.3 billion kroner (US$10.8 billion) last year, while net profit grew 5% to 13.8 billion kroner. “We are relevant and we...