PARIS – The world economy has been “surprisingly resilient” in the face of adversity this year, the Organisation for Economic Co-operation and Development (OECD) said yesterday, raising its growth estimates for key economies, notably the US and the eurozone. The OECD is an international organisation of democratic countries with market economies that promotes sustainable economic...
BAGHDAD – Iraq’s oil ministry announced on Monday that it had invited US companies to bid on an oil field that had been operated by the now American-sanctioned Russian company Lukoil for years. The oil ministry said in a statement that it had taken “all necessary measures to directly and exclusively invite several major American...
NEW YORK – Economic activity in the US manufacturing sector contracted more than expected in November, according to a survey released on Monday, pointing to lingering concerns about tariffs. The reading from the Institute for Supply Management (ISM) fell to 48.2 from 48.7, the ninth straight month of contraction. A rating of 50 separates growth...
Stop n Shop, located in Okuryangava, is one of the busiest and most vibrant informal markets in Windhoek. It is a place full of life, noise, movement and survival. From early morning until late at night, the area is crowded with vendors, customers, taxis, and passersby. Small stalls, tables, and makeshift shelters line the dusty...
Two hardworking women in their 50s are keeping preserve traditional food in the market at the Stop n Shop market in Okuryangava. Anna Nadula and Elise Jeremia arrive as early as 06h00 every morning and work until late in the evening. Their stalls stand side-by-side, offering well-known local foods such as mopane worms, mahangu flour,...
The Namibian economy is expected to slow down marginally in 2025, with output constrained by weaker activity in manufacturing and primary industries, before gaining momentum next year. The latest figures from the central bank indicate the country’s real GDP growth should moderate to 3% in 2025, from 3.7% in 2024, The Bank of Namibia’s (BoN’s)...
After recording another year of strong financial performance, the Namibia Ports Authority (Namport) last week declared a N$100 million dividend to its sole shareholder, the Namibian government. The dividend, announced last Thursday by Namport chairperson, Nangula Hamunyela, is related to Namport’s performance for the year ended 31 March 2025. “We have seen positive growth in...
Further to an ongoing discussion of global exploration opportunities between TotalEnergies and Chevron, TotalEnergies EP Nigeria has signed a farmout agreement with Star Deep Water Petroleum Limited, a Chevron company, to sell a 40% participation in the PPL 2000 and PPL 2001 exploration licences offshore Nigeria. Located in Nigeria’s prolific West Delta basin, the PPL...
Standard Bank Namibia reaffirmed its commitment to driving growth, sustainability, and homeownership at its recent Home Loans Grand Finale. The event honoured top-performing estate agents, developers, and consultants whose dedication has shaped Namibia’s housing market. Standard Bank chief executive Erwin Tjipuka emphasised the bank’s strategic focus on growth and sustainability. “Namibia is our home, and...
Osino Gold Exploration and Mining has announced the reburial of graves that were exhumed from Farm Okawayo in January 2024. The four historical graves were exhumed on 13 January 2024 in line with Namibian heritage legislation and the Burials and Ordinance Act of 1966, following extensive consultation with the Office of the Presidency, the Ministry...