Recession
India exits recession with 0.4% quarterly growth
The country has struggled to claw back lost ground after a stringent, months-long lockdown caused the labour market to collapse and the economy to contract by...
The president will spell out government's economic recovery plan in Parliament on Thursday afternoon.
Growth in 2021 is expected to be slightly slower than forecast in June and even weaker in the next few years due to the lasting damage inflicted by COVID-19.
Waiters, chefs and restaurant owners in Franschhoek and elsewhere are protesting under the banner #JobsSaveLives.
The second-quarter results are expected to paint an even bleaker picture of the impact of the national lockdown, which forced businesses to shut down, halting economic activity for over two months.
The World Economic Forum published a report on Tuesday based on the views of 350 of the globe's top risk professionals.
The coronavirus, which first emerged in China late last year, has ravaged the global economy as many nations went into strict lockdowns to curb the outbreak that has so far killed over 310,000 people worldwide.
The currency was 2% weaker at 18.6770 per dollar by 1500 GMT, straying back into bear market territory as investors were spooked by a dire global growth outlook from the International Monetary Fund (IMF).
Taste’s move to liquidate the business comes after South Africa entered its second recession in two years in the final quarter of last year.
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It said the country's economy slipped into a technical recession in the fourth quarter of last year, recording a 1.4% contraction.
The surprising result comes after recent efforts to revive Latin America's biggest economy as it teetered on the edge of another recession.
The UK economy shrunk in the second quarter. Data published on Wednesday reveals Germany's economy contracted in the three months to June.
The International Monetary Fund (IMF) Managing Director Christine Lagarde has warned that the biggest risks facing South Africa’s economy are complacency and high expectations and slow service delivery.
Statistics South Africa (Stats SA) says gross domestic product (GDP) for the third quarter expanded by 2.2% quarter on quarter.
There has been a sharp decline in the value of the pound with the rand strengthening to 17.97 to sterling on Friday.
The government has said it would also launch a R400 billion “medium-term” infrastructure fund, that would be spent over three years, Finance Minister Nhlanhla Nene noted.
The president announced government’s eagerly awaited economic stimulus package at a briefing in Pretoria on Friday.
President Cyril Ramaphosa says the package contains five measures to stimulate the economy.