Business
President Cyril Ramaphosa has signed off on a R2 billion luxury resort project, the biggest private tourism investment announced this year. The approval comes as South Africa contends with airline contract lawsuits, retail reforms, labour unrest and other fiscal pressures.
Business
The Bank of Japan has increased its benchmark interest rate to 1.25%, the highest level since 1995, in a move aimed at tackling rising inflation. This decision follows similar monetary tightening by major global central banks.
Business
France's finance minister has called on Ireland to distribute the billions earned from its digital services tax with other EU states. The appeal comes as the Irish tax, aimed at big tech firms, fuels a domestic political debate.
Business
Switzerland’s top domestic story focuses on rising gasoline prices and a restrained federal response to driver subsidies, while countries worldwide confront similar cost pressures with emergency aid, wage demands and industry pleas.
Business
Finland’s electricity minister and ambassador are reviewing renewable‑energy investments to ensure the grid can supply upcoming data‑center projects. Officials say existing capacity is sufficient for the short term, with additional generation slated before any large‑scale, power‑intensive facilities are built.
Business
Analysts warn that U.S. gasoline and diesel costs will jump sharply after crude oil prices surged on the Iran conflict, with further increases possible. The spike threatens consumers and could become a political flash‑point ahead of upcoming elections.
Business
Tata Sons' board voted to reappoint N. Chandrasekaran as chairman after a deadlock that allowed him to cast his own vote. The decision is contested by the Tata Trusts, which label the vote illegal and signal a looming court battle.
Business
Italy's domestic fuel market has seen a rapid price jump, with gasoline surpassing €2.14 per litre and diesel hitting €2.27, climbing higher on highways. The increase pressures motorists and adds to broader economic concerns ahead of upcoming elections.
Business
The Monetary Policy Committee kept the Bank of England's Bank Rate unchanged at 3.75%, citing persistent inflation pressures and uncertain energy markets. Governor Andrew Bailey warned that high energy costs and the ongoing conflict in the Middle East could force a future rate increase.
Business
The US Federal Reserve has raised interest rates for the first time in three years, defying strong opposition from President Donald Trump. This unanimous decision is expected to have significant global economic implications, including a stronger dollar and rising bond yields.
Business
Kenyan MP Ndindi Nyoro has cautioned that the country is on a path toward a sovereign debt default. A delay in PAYE tax relief, now expected in October, could affect workers earning between Ksh30,000 and Ksh50,000.
Business
Petroleum retailers are pressuring the government to define how the recently announced Rs100 per litre fuel subsidy will be reimbursed, threatening to halt pump operations. The ministry has convened an emergency meeting amid growing tension over the scheme's rollout.