Economy
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Economy
AI-focused tech firms see big jump in market cap in June
Date:Jul 1, 2024
Artificial intelligence-focused companies, mostly chipmakers, saw big gains in their market capitalisation at the end of June, with Nvidia briefly overtaking Microsoft to become the most valuable company in the world.
Mozambique, Zambia pledge enhanced co-operation amidst energy crisis
Date:Jul 1, 2024
Mozambique's President, Filipe Nyusi, concluded a three-day visit to Zambia over the weekend, promising to bolster co-operation and explore substantial energy trade agreements.
Clicks to sell drug maker after court ruling
Date:Jul 1, 2024
South African (SA) pharmacy chain Clicks Group said on Monday it would sell drug maker Unicorn Pharmaceuticals to comply with a court ruling, clearing the way for the Department of Health to issue the company with licenses for new stores.
IMF board approves $360m payout to Ghana after second review
Date:Jun 29, 2024
The International Monetary Fund's (IMF) executive board approved the second review of Ghana's $3 billion loan programme this Friday, allowing for the immediate disbursement of around $360 million, the Fund said.
Nigeria aims for economic revitalisation through diversification
Date:Jun 28, 2024
Nigeria has declared its full commitment to revitalising its economy by diversifying into sectors such as agriculture, manufacturing, and technology.
Meta's pay or consent model in crosshairs for breaching EU tech rules
Date:Jul 1, 2024
Meta Platforms was charged by European Union (EU) antitrust regulators on Monday for failing to comply with landmark tech rules.
SA factory activity contracts again in June
Date:Jul 1, 2024
South African (SA) manufacturing activity contracted again in June, a Purchasing Managers' Index (PMI) survey showed on Monday, reflecting weak demand.
Rand rallies on President's new cabinet
Date:Jul 1, 2024
The South African (SA) Rand rallied today as investors welcomed President Cyril Ramaphosa's announcement of a new coalition cabinet that includes the leader of the former opposition Democratic Alliance (DA).
Johannesburg residents to face new electricity charge amid tariff hike
Date:Jun 28, 2024
Starting in July, Johannesburg's middle-and high-income earners will see a new monthly deduction of $10.8 from their prepaid electricity purchases.
Microsoft hit with EU antitrust charge over Teams app, risks hefty fine
Date:Jun 28, 2024
Microsoft faces a hefty antitrust fine after the European Commission on Tuesday accused it of illegally linking its chat and video app Teams with its Office product, giving it an unfair advantage over rivals such as Slack.
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