In a symbolic changing of the guard that underscores the rapid evolution of the global electric vehicle (EV) race, the Volkswagen Group has officially overtaken Tesla to become the leading seller of fully-electric cars in Europe for the full year of 2025. The landmark shift, confirmed by fresh market data from leading analytics firm JATO…
In a strategic move to deepen economic ties and navigate complex global trade headwinds, South Africa’s Minister of Trade, Industry and Competition, Parks Tau, is spearheading a high-level delegation at the 8th Session of the South Africa-China Joint Economic and Trade Commission (JETC) in Beijing. The high-stakes talks, held with his Chinese counterpart, Minister of…
In a strategic move signaling a profound deepening of its economic commitment to the African continent, South Africa has formally elevated its partnership with the African Export-Import Bank (Afreximbank) by becoming a Class A shareholder. The milestone was sealed during a high-level signing ceremony at the Department of International Relations and Cooperation on Tuesday, positioning…
The recent one-year extension of the African Growth and Opportunity Act (AGOA) has been hailed as a critical circuit-breaker, restoring essential trust and forward momentum to the commercial relationship between South Africa and the United States. According to Neil Diamond, President of the South African Chamber of Commerce in the United States (SACCUSA), the move…
In a move poised to directly impact the livelihoods of millions of low-income workers, the South African government has gazetted a 5% increase in the National Minimum Wage (NMW), raising it to R30.23 per hour, effective 1 March 2026. The adjustment, announced by Employment and Labour Minister, Nxesi, underscores a deliberate effort to bolster household incomes in…
Good news awaits motorists as fuel prices will drop on Wednesday. The Department of Mineral and Petroleum Resources has confirmed reductions across several fuel types, largely due to a stronger rand. Petrol prices for both grades will decrease by 65 cents per litre. Diesel will fall by between 50 and 57 cents per litre, while…
The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) has opted for caution in its first policy decision of the year, announcing on Thursday that it will keep the benchmark repo rate unchanged at 6.75%. The decision, reached via a split vote, maintains the commercial prime lending rate at 10.25% and underscores the central bank’s delicate navigation…
In a resounding vote of confidence for the nation’s tourism sector, South Africa shattered its previous records by welcoming 10.48 million international visitors in 2025, marking a landmark year for the Rainbow Nation. The figure represents a robust 17.6% increase over 2024 arrivals, a growth rate that significantly outpaced the global tourism average and signals a powerful post-pandemic…
Against a backdrop of persistent economic headwinds, South African fashion retailer Truworths has unveiled a set of half-year results that serve as a microcosm of the nation’s strained consumer landscape. For the 26 weeks ending December 28, the group reported retail sales holding steady at R12.5 billion—a figure that, while stable, underscores a profound stagnation…
In a move that has sent shockwaves through global financial markets, the spot price of gold has shattered a monumental psychological barrier, breaching $5,000 per ounce for the first time in history. Trading on the London Bullion Market settled at an unprecedented $5,027 per ounce late Monday, a staggering figure that extends a parabolic rally, marking a year-to-date surge…
