South Africa's waning economic fortunes demand harsh policy adjustments: who will bear the brunt?

Oct 29, 2020 09:43 am UTC| Economy

The social and economic crisis generated by the COVID-19 pandemic has accelerated South Africas fiscal crisis. But the origins of the fiscal crisis are deeper. It is a structural crisis that will define public policy over...

Mercedes-Benz to increase stake in Aston Martin up to 20%

Oct 29, 2020 02:11 am UTC| Business Economy

Mercedes-Benz will increase its stake in British carmaker Aston Martin years from 2.6 percent to as much as 20 percent over the next three, in exchange for technologies and components of its hybrid and electric...

Spain to increase taxes on big firms, use $31.8 billion in European grants

Oct 28, 2020 13:00 pm UTC| Economy

The Spanish government will increase taxes on big corporations and the wealthy and use $31.8 billion in European grants in efforts to reverse its economic slump. There were talks on using all $164 billion that the EU...

S. Korea eyes nuclear power plants in UK, as two countries agree to cooperate after Brexit

Oct 27, 2020 05:16 am UTC| Economy

Industry Minister Sung Yun-mo expressed hope for South Korea to participate in construction projects for British nuclear power plants in his meeting with Alok Sharma, UKs secretary of state for business, energy, and...

Financial support for Jeju Air to be discussed

Oct 27, 2020 01:33 am UTC| Economy

South Koreas Key Industry Stabilization Fund is slated to hold a meeting to discuss whether to provide financial support to Jeju Air, the countrys top low-cost carrier. The Export-Import Bank of Korea, Jeju Airs main...

S. Korea to invest 10 trillion won into smart city project, create 150,000 jobs by 2025

Oct 23, 2020 05:30 am UTC| Economy

The South Korean government will invest 10 trillion won into a smart city project and create more than 150,000 jobs by 2025, as the country aims to become a global leader in the New Deal initiative. According to...

Why sovereign credit downgrades no longer matter as much as they used to

Oct 21, 2020 23:23 pm UTC| Economy

The decision by credit ratings agency Moodys to cut the UKs sovereign credit rating has been a gift to the governments critics. The agency downgraded the UK from Aa3 to Aa2 on the rationale that its heavy reliance on...