Business
President William Ruto announced the reopening of mining rights at the Magadi soda‑ash deposits and pledged to stop the export of unprocessed minerals. The move follows the termination of Tata Chemicals' contract and aims to boost local value‑addition.
Business
DBRS has upgraded Greece's sovereign credit rating to BBB and attached a positive outlook, signaling confidence in the country's post‑crisis reforms. The move arrives amid broader questions about the waning influence of rating agencies on investor decisions.
Business
Volkswagen's board has given its approval to a plan to eliminate an additional 50,000 jobs worldwide by 2030, intensifying a major restructuring effort. This strategic shift aims to combat rising competitive pressures, particularly from China, and the impact of tariffs.
Business
A new Economic and Social Research Institute (ESRI) study says Irish residential property prices are about 17% higher than their fundamental value, marking a significant overvaluation. The analysis warns that middle‑income households are bearing the brunt, adding pressure on a government already grappling with a housing shortage.
Business
Volkswagen's supervisory board has signed off on a sweeping plan that will slash 50,000 jobs and retire half of its model range by 2030, while earmarking €135 billion for future investment. The move triggers fierce union opposition and raises questions about the fate of the Seat brand.
Business
The Department for Business and Trade has released a list of 658 firms that failed to pay the National Minimum Wage, including major retailers and food‑service chains. Officials say the move is part of a broader push to tighten compliance ahead of new holiday‑pay rules in 2027.
Business
The Portuguese government says it will lose €401 million in personal income tax revenue by 2027, even before any new tax cuts take effect. The shortfall raises concerns about the sustainability of the budget and could force policy adjustments ahead of planned tax reforms.
Business
Rising bond yields triggered by higher oil prices and debt concerns are pushing mortgage rates higher in the United Kingdom and Australia. Borrowers are being urged to lock in deals while loan applications in Australia have already slipped 15%.
Business
Oslo has hit a historic high in properties listed for sale, deepening concerns about affordability in Norway's capital. The surge coincides with a rebalancing push at NBIM, led by Alex Knapp, that could influence the broader real‑estate market.
Business
Uber announced the immediate shutdown of its ride‑hailing service in Nigeria, ending a 12‑year presence and joining a global restructuring that cuts 10% of the company’s workforce. The exit threatens thousands of drivers and reshapes a market already dominated by local and foreign competitors.
Business
The Reserve Bank of India attracted a record $136.38 billion in foreign‑exchange inflows through its special swap facility in August, driven largely by non‑resident Indian (NRI) deposits under the FCNR(B) scheme. The surge lifts the country’s foreign‑exchange reserves to a historic high and strengthens the rupee’s defence.
Business
The forint fell to its lowest value since the 2022 change in government, sparking concerns over inflation and debt costs. Officials and market analysts are monitoring the slide as Hungary faces mounting external pressures.