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The move is part of broader taxation changes to make the economy “more business friendly” and create jobs, its finance minister said.

The announcement came after comments by the prime minister ruling out a debt restructuring, which sent bonds plummeting last week.

South Africa secured its first credit rating upgrade since 2005, moving up one level to BB.

The Dubai carrier also said it will begin providing Starlink service this month and equip its entire 232-plane fleet over the next two years.

PIF loaded up on US equities during the pandemic, but has since reduced its holdingst.

Africa has less of the world’s share of critical minerals than many seem to think.

The domestic boom is a blow to heritage US and European luxury giants, which have come to rely on the country’s huge market.

Despite flatlining consumption, inflation stood at 2.9%, significantly above the Bank of Japan’s target.

President Donald Trump, who ran in 2024 on the promise to bring down prices “on day one,” has finally admitted that his tariffs do the opposite. On Friday, the Trump administration announced that it would exempt a broad array of groceries—including staples like beef, coffee, and bananas—from the tariffs the president proudly implemented in April. […]