01
April

Government development banks on the cards

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The Malawi government has advanced its plans to establish two development banks—Agricultural Cooperative Bank (ACB) and Malawi Development Bank (MDB).

30
March

Boeing to cut more than 4,500 jobs to reduce costs

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Published in Business
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The world's largest plane manufacturer Boeing plans to cut more than 4,500 jobs by the middle of the year to reduce costs.

23
March

Standard Bank Group has been named the best foreign exchange provider at the recent 2016 Global Finance World’s Best Foreign Exchange Providers Awards the fourth year in a row.

17
March

Trump presidencyon top 10 global risks

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Published in Business
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Donald Trump winning the US presidency is considered one of the top 10 risks facing the world, according to the Economist Intelligence Unit. According to BBC reports, the research firm warns he could disrupt the global economy and heighten political and security risks in the US. However, it does not expect Mr Trump to defeat Hillary Clinton who it sees as "his most likely Democratic contender". He is rated as riskier than Britain leaving the European Union or an armed clash in the South China Sea. BBC reports. China encountering a "hard landing" or sharp economic slowdown and Russia's interventions in Ukraine and Syria preceding a new "cold war" are among the events seen as more dangerous. "Thus far Mr Trump has given very few details of his policies - and these tend to be prone to constant revision," the EIU said in its global risk assessment, which looks at impact and probability. According to BBC, the EIU ranking use a scale of one to 25, with Mr Trump garnering a rating of 12, the same level of risk as "the rising threat of jihadi terrorism destabilizing the global economy". "He has been exceptionally hostile towards free trade, including notably Nafta, and has repeatedly labelled China as a 'currency manipulator'," the EIU said. It warned his strong language directed towards Mexico and China in particular "could escalate rapidly into a trade war". Mr Trump has called for a "big big wall" to be built on the US-Mexican border, paid for by Mexico, to keep its illegal immigrants and drug dealers out of the United States.

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