BEIJING – Beijing yesterday said plans by the United States to hike tariffs on more Chinese imports “pile errors onto errors”, after Washington homed in on products including crucial solar panel components. The moves announced Wednesday by the US Trade Representative’s office cap a review of tariffs imposed during president-elect Donald Trump’s first administration. Rates...
FRANKFURT – European Central Bank president Christine Lagarde said yesterday that eurozone policymakers would cut interest rates further if inflation continued to fall on its path towards the ECB’s 2% target. “If the incoming data continue to confirm our baseline, the direction of travel is clear, and we expect to lower interest rates further,” Lagarde...
A training on facilities’ management, held from 18 to 22 November 2024, in Windhoek, has been described as a resounding success, bringing together key industry leaders and professionals to enhance their skills. The training was facilitated by experts from CEA (South Africa), ensuring a high-quality learning experience for all delegates. This was the first training...
After acknowledging reports of a data exfiltration attack on Telecom Namibia, one of the country’s telecommunications operators, the Communications Regulatory Authority of Namibia (Cran) has underscored the critical importance of robust cybersecurity measures to safeguard vital infrastructure and consumer data. Through the Namibia Cyber Security Incident Response Team (NAM-CSIRT), Cran promptly responded upon identifying the...
Bank Windhoek has embarked on modernising its facilities through a nationwide branch renovation initiative. This is to provide a 24-hour customer-centric, people-first digital experience. Following the successful renovations of the Maerua Mall, Rehoboth and Lifestyle Centre branches, new upgrades in Otjiwarongo, Outjo, Grootfontein, Tsumeb and Oshakati have introduced state-of-the-art technology. James Chapman, the bank’s executive...
Namibia’s financial market is poised for a significant transformation, with the introduction of the Central Securities Depository (CSD), a critical infrastructure approved by the Namibia Financial Institutions Supervisory Authority (Namfisa) on 8 March 2024. As a cornerstone of modern financial systems, the CSD promises to revolutionise the issuance, settlement, safekeeping and corporate servicing of financial...
The Board of Directors of the African Development Bank Group has approved a US$165 million (about N$2.9 billion) loan to Madagascar to develop critical trade corridors and improve regional connectivity. The funding, granted on 11 December 2024 in Abidjan, will support the third phase of a major infrastructure project to improve trade corridors across the...
PARIS – Oil supply is set to outpace global demand next year even as OPEC+ members extended cuts in efforts to prop up prices, the International Energy Agency said yesterday. Eight members of the alliance, including Saudi Arabia and Russia, agreed earlier this month to maintain supply cuts of 2.2 million barrels per day (bpd)...
The domestic economy continues to record growth since the second quarter of 2021, and during the third quarter of this year, the size of the domestic economy stood at N$61.6 billion in nominal terms, reflecting an expansion of N$5.3 billion from N$56.3 billion recorded in the same period of 2023. This is according to the...
TOKYO – Nippon Steel yesterday slammed the “inappropriate” role of politics after Bloomberg News reported that president Joe Biden would block its planned takeover of US Steel.The deal worth US$14.9 billion, including debts, is being reviewed by a body that audits foreign takeovers of US firms, helmed by Treasury Secretary Janet Yellen.Bloomberg cited people close...