World leaders urge stronger global cooperation on digital development.
Global leaders meeting in Kuwait this week underscored that the path of digital transformation will depend not just on technological […]
Global Trade
South Africa increases minimum wage by 5% to ease cost-of-living pressures.
South Africa announced on Tuesday that it will increase the national minimum wage by 5% starting 1 March, raising the hourly rate to R30.23 ($1.89) from the previous R28.79 ($1.80).
Uber sees 20% jump in Q4 revenue, led by food delivery boom.
Uber reported better-than-expected revenue for the fourth quarter on Wednesday, although shares fell in premarket trading following the earnings release.
Eurozone inflation slows to 1.7% in January
Eurozone inflation eased to 1.7% in January, according to preliminary data released Wednesday by Eurostat. Economists surveyed had also anticipated
UK PM Starmer condemns Russian strikes on Ukraine’s energy sites
UK Prime Minister Sir Keir Starmer has condemned Russia’s recent strikes on Ukraine’s energy infrastructure as “barbaric” and “particularly depraved,” hitting power plants and leaving over 1,000 Kyiv apartment blocks without heating amid temperatures of -20°C. The attacks have caused widespread disruption, forced residents into metro shelters, and left key power facilities, including Kharkiv’s plant, damaged, while US-led peace talks continue in Abu Dhabi.
Nigeria pins Africa’s industrial growth and energy access on gas development
Nigeria is advancing its abundant natural gas resources as a key driver of Africa’s industrial development and energy transition, amid
$120 billion spent annually to hydrocarbon imports in Africa.
Africa’s reliance on imported petroleum products is draining resources needed for local capacity building and industrial growth, Nigeria’s Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has said, stressing that retaining energy value within the continent could be economically transformative
Walmart becomes first retailer to hit $1tn market value
Walmart has become the first traditional retailer to hit a $1tn (730bn) market valuation, propelling it into a small group
IEA Opposes Proposed Changes to Mining Royalties
The Institute of Economic Affairs (IEA) has rejected the government’s proposed sliding-scale mineral royalty framework, describing it as a continuation
House Republicans Take Steps to Reopen U.S. Government
House Speaker Mike Johnson said he is confident the three-day partial U.S. government shutdown is coming to an end. He has secured enough support for a procedural vote to reopen most federal agencies, despite Democrats refusing to assist and some resistance within his own party. Negotiations continue on funding for the Department of Homeland Security, including new immigration enforcement measures.