BEIJING – Chinese president Xi Jinping yesterday said challenges facing the country’s embattled private sector were “surmountable”, as he met with top business leaders, including Alibaba co-founder Jack Ma. Since coming to power more than a decade ago, Xi has strengthened the role of state enterprises in the world’s second-largest economy, and waged crackdowns on...
Business
Hollard Namibia unveils new offering
Short-term insurer Hollard Namibia last week launched its new car and home insurance offering at a function in Windhoek. Titled ‘No. 1 recognises No. 1’, the function profiled Hollard’s new product line and featured a discussion with Tatjana Smith, one of the world’s top female swimmers. Following a minute of silence in respect of the...
Windhoek beer enters Kenyan market
Namibia Breweries Limited (NBL) has launched Windhoek beer in the Kenyan market. This strategic move marks a significant milestone in NBL’s ongoing efforts to expand its footprint, export its premium products, and develop its business across new markets. Windhoek beer, the iconic brand of NBL portfolio, renowned for its exceptional quality and rich heritage, is...
Namibians embark on wind turbine training
Windwise Turbines Namibia, the first wind turbine manufacturer in the country, has taken a step towards advancing local skills and expertise in renewable energy. Last week, the company sent its first cohort of five Namibian engineers for a six-month training at the SARETEC wind turbine training centre in Cape Town, South Africa. According to a...
Wealth fund grows steadily
Bank of Namibia governor Johannes !Gawaxab stated that Namibia’s Welwitschia Sovereign Wealth Fund’s current balance has reached N$453 million. The Welwitschia Fund, which was launched in May 2022, commenced with an initial capital investment of around N$262 million. The governor made these remarks last week during the repo rate announcement in Windhoek. The Sovereign Wealth...
Trump tariffs fuel US auto anxiety
NEW YORK – A flood of presidential trade policy announcements has kept US automakers on edge since Donald Trump returned to the White House last month. While some signature threats – like 25% tariffs on Mexico and Canada – have been wielded and then paused, Trump’s multi-pronged assault on the international trade order is building...
Canada to compel diversity disclosures for banks, insurance firms
OTTAWA – Canada said on Friday it would compel banks, insurance companies and other financial firms to disclose the number of women and minorities on their boards and in senior management positions. The move, announced in the government newspaper Canada Gazette, contrasts with a retreat from diversity, equity and inclusion (DEI) programmes – aimed at...
Argentine cryptocurrency crashes
BUENOS AIRES – Argentina’s president Javier Milei admitted making a mistake on Saturday after promoting a cryptocurrency whose value soared and then crashed, with his office announcing an “urgent investigation”. According to news outlets, Milei posted a message on social media platform X on Friday evening, praising a “private project” aimed at “stimulating the growth...
Tackling economic obstacles befitting Nujoma tribute
Namibia’s business community calls for action against unemployment, poverty and inequality in tribute to late Founding President Sam Nujoma. In this regard, they have emphasised an urgent need to address the country’s persistent challenges of unemployment, poverty and inequality, viewing this as the most fitting tribute to the late founding president. During a memorial service...
India-Namibia trade hits N$14 billion
India’s new High Commissioner to Namibia, Rahul Shrivastava, says his country has consistently been at the vanguard of support for Namibia, before and after independence in a mutually beneficial relationship that continues to grow in leaps and bounds to this day. Shrivastava hastened to say the enduring relationship between the two countries, founded on solidarity,...