LONDON – Gold soared to a record high on Monday as investors rushed into the safe-haven commodity on concerns about heightened China-US tensions, a spike in virus infections and a lack of progress on a new stimulus bill in Washington. “Always a sign of trouble, gold continued its red hot streak on Monday, the haven...
Business that have incurred losses due to Covid-19 and who have Contingent Business Interruption (CBI) cover with Santam will receive up to N$30 million in urgent relief funding. The payments from Namibia’s largest short-term insurer will be made to its clients in the hospitality, leisure and non-essential retail services industries. The aim of the relief...
China National Nuclear Corporation (CNNC) Rössing Uranium has cautioned that while global uranium prices are expected to recover in the medium to long-term, the gradual recovery may take another five years. In its latest report to stakeholders, the uranium miner noted that moderate demand growth and subdued supply will drive a gradual price appreciation. “The...
One of the biggest concerns the Construction Industries Federation of Namibia (CIF) has regarding the Namibian Equitable Economic Empowerment Bill (NEEEB) is if, indeed, it will bring about the desired results. In its current format and the latest draft of NEEEB, it is made clear that “empowerment beneficiaries” are to be recipients of the benefits...
JOHANNESBURG – South Africa’s government will work with social partners in the coming weeks to finalise an economic recovery programme whose key target will be to protect and create jobs as the economy is buffeted by the Covid-19 pandemic, President Cyril Ramaphosa said on Monday. In a weekly newsletter, Ramaphosa said the health crisis –...
PRETORIA – The coronavirus (Covid-19) loan guarantee scheme has been reviewed to make it easier to access, the National Treasury said yesterday. The scheme is set up to help ease the pressure on qualifying businesses affected by low economic activity following the lockdown imposed to curb the spread of the disease. Among other things, bank...
The reduction in physical shopping, coupled with social distancing and a heightened awareness of personal safety, have made online shopping the go-to place for retail therapy in recent months. Of course, fraudsters were quick to spot the opportunity and have increased their attempts to defraud consumers through Card Not Present shopping activity. ‘The latest modus...
The thorny subject of corporate corruption is pulling Namibia backwards; hence, it needs to be prioritised and addressed without fear or favour, warned Lameck Odada, an economics lecturer at the Namibia University of Science and Technology (NUST). Odada said entities entrusted with duties to investigate and prosecute corrupt individuals need financial support from the government...
The local index of the Namibian Stock Exchange lost an astounding N$6.5 billion in market capitalisation one day of trading last week, which was, however, quickly regenerated in subsequent trading. Local stock brokers and economic analysts, who described last week’s major selloff of shares as a “bloodbath on the Namibia Stock Exchange”, pointed out the...
Keetmanshoop Mayor Gaudentia Kröhne says that in a sense informal housing is one of the most serious obstacles to democracy and sustainable development. The mayor made these remarks at the official site handover for the construction of 77 National Housing Enterprise (NHE) houses here on Wednesday. “I believe that allowing our people to continue dwelling...