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South African Airline runs out of cash, pleads for bailout

The South African Airline is on the verge of bankruptcy according to a report read in the country’s parliament. The report indicates that the airline might soon not be able to pay salaries to its workers. The company has been running at a loss for the past seven years according …

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Namibia’s underwater diamond harvest

In the Atlantic Ocean, off the coast of Namibia, you will find some of the world’s most valuable diamonds scattered like lost change. The discovery of such gems has sparked a revolution in one of the world’s most storied industries for the precious stones buried just under the seafloor. “Our …

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Kenya and Tanzania end trade war

East African giants Kenya and Tanzania have ended months of trade restrictions which were a contravention of the East African Community trade protocol. Kenya enforced a ban on the importation of cooking gas from Tanzania in April after it had banned wheat flour from its neighbor citing low safety and …

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South Africa’s Reserve Bank cuts interest rate for the first time in 5 years

South Africa’s Reserve Bank on Thursday cut its benchmark repo rate by 25 basis points to 6.5 percent from 7 percent. The rate cut comes after South Africa slipped into technical recession the first quarter. Reserve Bank governor Lesetja Kganyago cited an improving inflation outlook and deteriorating growth. In the MPC statement the …

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Russia: President Putin extols values of growing trade with China as Xi visits Moscow

President Vladimir Putin of Russia on Tuesday extolled the values of growing trade with China in a meeting with Chinese counterpart Xi Jinping in Moscow as the eastern great powers reinforced their ties. “I’m glad to note that while, last year, we saw modest growth in trade, 3.9 per cent, …

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Coca-Cola European Partners to invest £39m in UK facility

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Coca-Cola European Partners (CCEP) has announced a £39 million investment to triple the storage capacity at its Greater London facility. Designed to hold and automatically move 25,000 pallets, the automated storage and retrieval system (ASRS) at the Sidcup factory will be operational in 2018. The company claimed the investment will …

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