BRUSSELS – The European Union (EU) yesterday sharply cut its eurozone economic growth forecast for 2025 due to global trade tensions sparked by United States’ (US) president Donald Trump’s sweeping tariffs. The European Commission said the 20-country single currency area’s economy should grow 0.9% in 2025 – down from a previous forecast of 1.3% –...
In recent years, Namibia’s emergence as a frontier for offshore oil and gas exploration has made global headlines. Behind much of this progress stands Northern Ocean Ltd, an international drilling contractor whose world-class offshore rigs, Deepsea Mira and Deepsea Bollsta, have played a vital role in unlocking the country’s energy potential. Earlier this year, both...
In pursuit of the mandate to advance Namibia’s industrialisation agenda by enhancing, promoting, facilitating and managing industrial development in the country, the Namibia Industrial Development Agency (NIDA) targets to create 35 000 jobs over the next five years. This is outlined in their newly- developed first Turnaround Integrated Strategic Business Plan (ISBP) 2025/26-2029/2030 and Sustainable...
LONDON – UK Prime Minister Keir Starmer is set to sign a new deal with the European Union seeking to reset ties after Brexit, his office said on Saturday ahead of landmark talks. Starmer is scheduled to meet EU chiefs today (Monday) for the first post-Brexit EU-UK summit aimed at agreeing steps towards a closer...
Chief executive officer Ester Kali continues to accumulate accolades, this time being recognised as a dynamic leader as well as for her exceptional leadership and strategic vision at the helm of Letshego Holdings Namibia. Kali sccoped the Banking CEO of the Year Namibia at the 2024 Global Banking and Finance Awards for Letshego’s remarkable growth...
WASHINGTON – The United States lost its last triple-A credit rating from a major agency Friday as Moody’s announced a downgrade, citing rising levels of government debt and dealing a blow to Donald Trump’s narrative of economic strength and prosperity. The downgrade to Aa1 from Aaa adds to the bad news for the US president,...
OMEGA 1 – A beekeeper from Omega 1 within the Bwabwata National Park in Kavango East, David Mushavanga, has branded his honey as ‘Bushman honey’, and called on government to protect these crucial bee species. This, he stressed, will be done through investing in beekeeping projects. Mushavanga said bees are vital for any ecosystem to...
Atleast 40 candidates who applied for business training under the MTC 4 Life programme have commenced the hands-on three-week training in various trades such as upholstery, hairdressing styling, barbering, carpentry, welding, electricity and solar, and brick manufacturing. The training is being conducted in Ondangwa, Katima Mulilo, Swakopmund, and Windhoek. Gervasiu Isaak (28) from Omitara in Omaheke...
Namibia has recorded cumulative net foreign direct investment (FDI) inflows of N$114.9 billion since 2021, marking a resurgence in investor confidence fuelled by major hydrocarbon discoveries and sweeping reforms to create an attractive investment environment. This was revealed on Wednesday in Windhoek during the launch of Namibia’s FDI report, which marked a significant moment for...
TOKYO – Japan’s Nissan posted an annual net loss of US$4.5 billion on Tuesday while saying it plans to cut 15% of its global workforce and warned about the possible impact of US tariffs. The heavily indebted carmaker, whose mooted merger with Honda collapsed this year, is slashing production as part of its expensive business...