H&M set to exit Russian market citing operational challenges
Swedish fashion retailer H&M said Monday it has decided to cease operations in Russia after suspending all sales there in March following Moscow's invasion of Ukraine.
Business
Russian ‘McDonald’s’ outlets reportedly facing French fries shortage
Former McDonald's restaurants in Russia are reportedly facing a shortage of French fries due to a poor harvest and Western sanctions against Ukraine, a business daily reported on Friday.
Joburg mayor Phalatse to prioritise building efficient transport system
Johannesburg mayor Mpho Phalatse has said the city will prioritize building an efficient transport system to attract investors which she believes will boost the city's local economy.
ZESA to charge exporters in foreign currency
Energy utility, Zimbabwe Electricity Supply Authority (ZESA), has been allowed to invoice exporters in foreign currency, which should lead the parastatal to settle its obligations in foreign currency.
AfDB chief Adesina optimistic Zimbabwe will settle arrears
African Development Bank (AfDB) President Akinwumi Adesina said on Tuesday he is optimistic that Zimbabwe will settle its arrears as talks to develop a comprehensive debt relief plan for the country began.
South African rand weakens over R17 to $1 amid global recession fears
The rand broke through the psychological level of R17 against the US dollar on Monday for the first time in 22 months amid fears of a global recession.
Nico Group eyes Goshen City financial, property investment
Prophet Shepherd Bushiri said on Monday that the visit by Nico Group at Goshen City is a clear indication that it is attracting great business brains and bringing together innovative and disruptive ideas.
Twitter shares plummet after Elon Musk reverses takeover plan
Twitter Inc saw its shares plummet on Monday after Tesla CEO Elon Musk scrapped a $44 billion deal to buy the social media giant.
President Akufo-Addo defends atrocious IMF aid request
Ghanaian President Nana Akufo-Addo has defended the decision to seek assistance from the IMF, saying there is a need to restore public finances after the twin shocks of the pandemic and the war in Ukraine.
Zimbabwe commissions shuttle buses at RGM Airport
The Robert Gabriel Mugabe International Airport expansion project is progressing well, with airside shuttle buses starting to operate on Thursday in anticipation of increased passenger traffic.
