British energy giant BP on Tuesday announced a drop in second-quarter net profit as oil and gas prices retreated from peaks reached a year earlier following Russia’s conflict with Ukraine.
Business
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Namcor to address African Energy Week 2023
Namibia, an emerging exploration frontier in Africa, is filled with abundant opportunities for discovery, propelled by the influential role of its national oil company, the National Petroleum Corporation of Namibia (Namcor).
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BoE: UK lenders can withstand major shock
Britain›s top lenders have passed stress tests to show they can withstand major economic shock, even as rising interest rates pressure the financial system, the Bank of England said yesterday.
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Stock markets slump on higher US rate worries
Major stock markets slumped yesterday, with the biggest falls in Paris and Hong Kong, as investors fretted over the prospect of more US interest rate hikes and the risk to the global economy.
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Ondangwa trade fair reopens after Covid trauma
The Ondangwa Trade and Industrial Exhibition (OTIE) finally returned with a bang, and business is back better than ever. The trade fair was closed for the past three years due to Covid-19.
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MUN concludes wage agreement with Osino
The MineWorkers Union (MUN) and Osino Gold Exploration have concluded a wage agreement whereby all Osino employees within the bargaining unit earning a basic salary of N$6 000 and below will receive an increase of 8% on the basic wage.
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OATF exhibitors and visitors flock to annual fair
Thousands of people are braving the blistering heat of the north and continue to flock to the Ongwediva Annual Trade Fair (OATF), which has been on hold for the past two years due to the Covid-19 pandemic.
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Messika adds value-addition for Namibian diamonds
Andre Messika Diamond, a supplier of polished diamonds to the luxury jewellery market that recently opened a polishing factory in Windhoek, this week opened the very first parcel of Namibian rough diamonds purchased from Namib Desert Diamonds.
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ANIREP, IFC seek local renewable energy expansion
Alpha Namibia Industries Renewable Power Limited (ANIREP) and the International Finance Corporation (IFC) have entered into a collaboration agreement to determine the viability of developing a 10 to 20 MW independent solar power plant to pilot the new Modified Single Buyer Model in Namibia.
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EU commits N$627 million for Namibia until 2024
The European Union has officially adopted its multi-annual indicative programme for Namibia for 2021 to 2017. Through this programme, the EU commits to provide N$627.3 million (37 million euro) for the initial period of the programme, running from 2021 to 2024.