Gold hit a record high on Friday as global stock markets gained on reassuring data about the health of the world’s biggest economy and likely US interest rate cuts. Expectations of US interest rate cuts weakened the dollar, while oil prices tumbled as weak Chinese demand expectations offset ongoing tensions in the Middle East, according...
Business
Dausab: Let us focus on service delivery …justice minister calls for better policy implementation
Justice minister Yvonne Dausab has praised Namibia’s institutions, policies and legal arrangements, and said the country’s citizens should be proud of achievements. However, she stated that the biggest challenge remains in the implementation. “But in an election year, our preoccupation as political leaders is how we ensure a culture of service delivery where citizens have...
China data dampens recovery hopes
BEIJING – Chinese retail sales rebounded in July while industrial production growth slowed, official data showed yesterday, highlighting an uneven recovery in the world’s second-largest economy. More than a year and a half after the lifting of stringent Covid-19 measures, the much-anticipated post-pandemic recovery has been brief and less robust than expected, while a property...
OPINION – Enhancing service quality within the postal sector
The Communications Regulatory Authority of Namibia (CRAN) regulates postal services in Namibia, designating Namibia Post Limited (NamPost) as the National Postal Service Operator in Namibia. CRAN oversees the implementation of the licence conditions subject to the Designated Postal Operator licence issued to NamPost in terms of section 96(2) of the Communications Act (No. 8 0f...
Companies battle ‘brand disinformation’ during election season
WASHINGTON – From Google to Netflix, prominent US companies are battling internet boycott calls over their perceived political leanings in a polarising election season that has exposed them to what researchers call “brand disinformation.” The online campaigns, which falsely claim both Netflix and Google are funding or favouring Democratic nominee Kamala Harris ahead of the...
Meatco NCA receives HACCP certification from NSI
The Namibian Standards Institution (NSI) Certification Body has awarded Meatco NCA (Pty) Ltd a Hazard Analysis Critical Control Point (HACCP) certification. This prestigious certification is a testament to the company’s commitment to food safety and quality, reinforcing its position as a leader in Namibia’s meat industry. The HACCP certification is an internationally-recognised standard for ensuring...
UN has new way to measure economic vulnerability
UNITED NATIONS – The UN General Assembly on Tuesday officially launched a new data-driven “vulnerability” index that would help small island states and developing nations gain access to low-interest financing. The “Multidimensional Vulnerability Index” (MVI) is set to act as a complement to GDP and other development metrics. Since the 1990s, small island developing states...
Trustco issues shares to independent non-executive directors
Trustco Group Holdings Limited has proposed issuing 9.5 million shares to seven independent non-executive directors (INEDs). The proposal to compensate the INEDs stems from them voluntarily implementing a 20% reduction in compensation, effective 1 April 2020, following the devastating financial impact of Covid-19. According to a Trustco statement, the reduction was implemented alongside the company’s...
Air Connect welcomes Air Botswana to Windhoek
Air Connect Namibia and Air Botswana have announced the launch of new flights connecting Windhoek to Maun, Kasane and Gaborone, with the latter service connecting to Durban. These routes are meant to establish important links for business and leisure travellers, and strengthen relations between the two neighbouring countries. Air Connect Namibia, established in 2024 and...
OPEC says Chinese economy pulling down oil demand
PARIS – Uncertainty about Chinese economic growth is weighing on global oil demand this year, OPEC said on Monday, leading the producers cartel to slightly revise down the robust projections it made in July “The world oil demand growth forecast for 2024 is revised down slightly by 135,00 barrels a day from the previous month’s...