WASHINGTON – Ratings agency Fitch on Friday downgraded the outlook for the United States to negative from stable, warning of high debt and deficits made worse by the coronavirus downturn. “The outlook has been revised to negative to reflect the ongoing deterioration in the US public finances and the absence of a credible fiscal consolidation...
NEW YORK – European stocks fell Friday following dismal economic data that chronicled the hit from coronavirus shutdowns, while Wall Street indices gained following blowout earnings from tech giants. A day after the US reported an historically bad plunge in second-quarter growth, European authorities released the tally for the bloc and for individual countries. “It...
Fuel prices will increase as of midnight on Wednesday when petrol will increase by N$1 per litre (p/l) and diesel by 70 cents p/l. This increase means the fuel pump prices at the port of entry of Walvis Bay will become N$11.35 p/l on petrol and N$11.83 p/l on diesel. A Ministry of Mines and...
Thembi Kandanga We have all been there before – some worse than others. We get our first job after university and banks start offering us credit cards, personal loans, overdrafts and revolving loans; we don’t need and certainly cannot afford. Having fallen prey to a few of these tactics myself, I know how things can...
The voluntary retrenchment exercise at the Pupkewitz Group, offered to all its 1 860 employees, has been concluded, with most of the employees opting to take early retirement to use the proceeds to start up their own business or invest in livestock. According to a spokesperson for the Group, the exercise has allowed for consolidation...
Minister of Industrialisation and Trade, Lucia Iipumbu, says the state needs to be fully aware of the private sector’s needs, its potential as well as any major obstacles if it wants to develop and execute policies effectively and efficiently. Iipumbu made the comments yesterday when officially launching three projects under her ministry, supported by GIZ-Promotion...
The finance ministry yesterday confirmed that Namibia has applied to the International Monetary Fund (IMF) for a N$4.5 billion loan, through the institution’s Rapid Financing Instrument (RFI). The IMF on Monday approved a US$4.3 billion loan for neighbouring South Africa after the institution recently made US$50 billion available to help countries tackle the Covid-19 pandemic. ...
Bank Windhoek has confirmed its main branch in the capital, as well as the Auas Valley and Ashirwad agencies that are served from that branch, were closed over the weekend after one of the branch’s employees tested positive for Covid-19. As a precautionary measure, the branch was disinfected and all co-workers were sent home to...
Bärbel Kirchner The coronavirus outbreak comes at a time when Namibia was already struggling to return to higher growth levels. Since 2016 Namibia has experienced an economic downturn, and indeed a devastating recession. This situation has been further exasperated by the global pandemic and efforts to contain the spread of Covid-19 and to avoid a...
The Deputy Minister of Information and Communication Technology (MICT), Emma Theofelus, as well as the Bank of Namibia governor Johannes !Gawaxab have been named among the 100 Most Reputable Africans by Reputation Poll International, a leading global reputation-management firm. The list features 47 women and 53 men from diverse sectors, including leadership, entertainment, advocacy, education...