FRANKFURT – Lufthansa said Monday it will cut 4 000 jobs, nearly 4% of the German airline giant’s workforce, after profits slumped in the face of mounting headwinds. Hit by walkouts, aircraft delivery delays and rising costs, Lufthansa’s earnings tumbled by a fifth in 2024 and profitability has fallen behind its leading European rivals. The...
TotalEnergies has signed an agreement with insurance vehicles and accounts managed by KKR, a leading global investment firm, for the sale of 50% of a 1.4 GW solar portfolio in North America. This transaction, which TotalEnergies said aligns with its renewables business model, values the portfolio at an enterprise value of US$1.25 billion. “Thanks to...
Government on Friday finalised an agreement to revive the Ondangwa Northern Tannery facility that has been dormant for the last 15 years. Initially established through an international loan of more than N$40 million, the facility’s revival now hinges on a multi-year investment of N$58 million by Desert Planet Industries (DPI). DPI signed a contract with...
The Namport Community Wellness Initiative kicked off for the first time this weekend in Walvis Bay at the Dunes Mall, drawing a good turnout from residents, including many senior citizens. The morning featured a variety of interactive wellness activities, fitness sessions, health screenings and community engagement. Jacob Ntintin Orange, executive officer and people and culture...
Despite an increase in global oil prices, mostly because of supply chain constraints coupled with growing geopolitical tension affecting international oil markets, fuel prices in Namibia will remain unchanged for October 2025. The National Energy Fund will absorb all under-recoveries in the domestic fuel sector. This announcement by the industries, mines and energy ministry means...
HONG KONG – Stocks skidded yesterday as traders continue to pull back from the buying that has propelled markets to record highs in recent months, with upcoming US inflation and jobs data seen as likely to be the next catalysts for action.Investors have been on a buying spree since shares hit deep lows in the...
BRUSSELS – The European Commission launched an antitrust probe into German software giant SAP Thursday over fears the company’s practices may have distorted competition.SAP, which offers both traditional software and cloud-based computing services, can now offer commitments to address the commission’s concerns, the EU executive said.“We are concerned that SAP may have restricted competition… by...
GENEVA – The World Trade Organisation (WTO) Wednesday hailed Beijing’s decision to no longer seek new special treatment in future WTO talks, calling it a step towards a more equitable global trading system.“This is a pivotal moment for the WTO,” organisation chief Ngozi Okonjo-Iweala said in a statement.“China’s decision reflects a commitment to a more...
KATIMA MULILO – Employees of the Northern Regional Electricity Distributor (Nored) here, staged a peaceful demonstration outside the offices of the company yesterday morning. Sanctioned and facilitated by the Mineworkers Union of Namibia, the employees registered “deep dissatisfaction in the manner labour issues are handled within the company, particularly by the management” under the leadership...
Nedbank Namibia in collaboration with Future Media, recently hosted marketers, communicators, and brand practitioners at the Nedbank Campus Sky Garden in Windhoek on 18 September to live stream the Nedbank Integrated Marketing Conference (IMC) 2025, which took place in Johannesburg, South Africa. The IMC, widely regarded as Africa’s biggest marketing conference, attracted over 3 000...