World in brief

Jo-Mare Duddy Booysen
German business confidence down

Confidence among German businesses eroded slightly in September, a regular survey published yesterday found, reflecting uncertainty ahead of a general election on Sunday that has left Chancellor Angela Merkel facing tricky coalition talks.

The Munich-based Ifo institute's closely-watched business confidence index fell to 115.2 points this month, a 0.7-point drop compared with August and short of predictions from analysts surveyed by Factset.

"Companies were less satisfied with both their current business situation and their short-term outlook than in August," Ifo chief Clemens Fuest said.

"Germany's economy nevertheless goes into the new legislative period with a strong tailwind," he added. – Nampa/AFP

More US economists see risks

Amid uncertainty over President Donald Trump's growth agenda, US economists increasingly are worried about risks to the economy, though they see little chance of a recession near term, according to a survey released yesterday.

The National Association for Business Economists quarterly survey showed little change in the forecasts compared with June in key areas such as economic growth, which was projected at 2.2% in 2017 and 2.4% in 2018.

But the September survey of about 50 economists showed 48% believe the risks to the economy are weighted to the downside, indicating chances for an economic slowdown, while 43% see the risks tilted to the upside, meaning growth could outpace forecasts.

That is a shift from June, when upside risks outweighed downside risks by 60 to 36%. – Nampa/AFP

Japan’s Abe announces stimulus package

Japanese Prime Minister Shinzo Abe yesterday ordered his cabinet to compile new economic stimulus measures in a package worth around 2 trillion yen (US$17.80 billion) by the end of the year.

Abe said the package should focus on subsidising education, child-care costs, and on boosting corporate investments to improve productivity.

Abe was expected to announce a snap election later yesterday to take advantage of improved ratings and disorganised opposition parties, and the stimulus package could be a way to lure voters during the election campaign. – Nampa/Reuters

Siemens, Alstom on brink of rail merger

France's Alstom and Germany's Siemens have a deal ready to sign to merge their rail businesses in the face of Chinese competition, German business daily Handelsblatt reported yesterday.

The two groups have overcome past reservations about a joint venture with a "balanced agreement acceptable to both sides," Handelsblatt wrote citing "insiders" familiar with the deal.

An Alstom-Siemens tie-up would bring together the engineering giants that make their countries' flagship high-speed trains, including France's world-famous TGV.

Siemens brings in 7.8 billion euros of revenue annually from rail, while Alstom boasts sales of 7.3 billion euros. – Nampa/AFP

Comments

Namibian Sun 2024-03-29

No comments have been left on this article

Please login to leave a comment

Katima Mulilo: 19° | 36° Rundu: 19° | 29° Eenhana: 19° | 29° Oshakati: 21° | 30° Ruacana: 20° | 33° Tsumeb: 19° | 29° Otjiwarongo: 16° | 29° Omaruru: 19° | 32° Windhoek: 17° | 29° Gobabis: 17° | 30° Henties Bay: 16° | 20° Wind speed: 22km/h, Wind direction: S, Low tide: 11:22, High tide: 05:24, Low Tide: 23:26, High tide: 17:46 Swakopmund: 16° | 17° Wind speed: 24km/h, Wind direction: SW, Low tide: 11:20, High tide: 05:22, Low Tide: 23:24, High tide: 17:44 Walvis Bay: 16° | 22° Wind speed: 27km/h, Wind direction: SW, Low tide: 11:20, High tide: 05:21, Low Tide: 23:24, High tide: 17:43 Rehoboth: 19° | 30° Mariental: 23° | 34° Keetmanshoop: 24° | 35° Aranos: 22° | 33° Lüderitz: 15° | 28° Ariamsvlei: 24° | 35° Oranjemund: 14° | 25° Luanda: 27° | 28° Gaborone: 20° | 32° Lubumbashi: 17° | 26° Mbabane: 16° | 21° Maseru: 11° | 29° Antananarivo: 16° | 27° Lilongwe: 17° | 27° Maputo: 20° | 28° Windhoek: 17° | 29° Cape Town: 17° | 28° Durban: 20° | 24° Johannesburg: 16° | 24° Dar es Salaam: 26° | 32° Lusaka: 20° | 30° Harare: 16° | 29° Currency: GBP to NAD 23.8 | EUR to NAD 20.37 | CNY to NAD 2.62 | USD to NAD 18.9 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.33 | EGP to NAD 0.39 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.74 | ZWL to NAD 0.04 | BRL to NAD 3.77 | RUB to NAD 0.2 | INR to NAD 0.23 | USD to DZD 134.15 | USD to AOA 832.63 | USD to BWP 13.71 | USD to EGP 47.35 | USD to KES 130.98 | USD to NGN 1415.13 | USD to ZAR 18.91 | USD to ZMW 25.01 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 74536 Up +0.85% | Namibian Stock Exchange (NSX) Overall Index 1528.69 Up +0.84% | Casablanca Stock Exchange (CSE) MASI 12986.94 Up +0.04% | Egyptian Exchange (EGX) 30 Index 27559.35 Down -2.36% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 233.12/OZ UP +1.93% | Copper US$ 3.99/lb UP +0.12% | Zinc US$ 2 455.50/T UP 0% | Brent Crude Oil US$ 87.65/BBP UP +1.46% | Platinum US$ 908.62/OZ UP +1.53% Sport results: Weather: Katima Mulilo: 19° | 36° Rundu: 19° | 29° Eenhana: 19° | 29° Oshakati: 21° | 30° Ruacana: 20° | 33° Tsumeb: 19° | 29° Otjiwarongo: 16° | 29° Omaruru: 19° | 32° Windhoek: 17° | 29° Gobabis: 17° | 30° Henties Bay: 16° | 20° Wind speed: 22km/h, Wind direction: S, Low tide: 11:22, High tide: 05:24, Low Tide: 23:26, High tide: 17:46 Swakopmund: 16° | 17° Wind speed: 24km/h, Wind direction: SW, Low tide: 11:20, High tide: 05:22, Low Tide: 23:24, High tide: 17:44 Walvis Bay: 16° | 22° Wind speed: 27km/h, Wind direction: SW, Low tide: 11:20, High tide: 05:21, Low Tide: 23:24, High tide: 17:43 Rehoboth: 19° | 30° Mariental: 23° | 34° Keetmanshoop: 24° | 35° Aranos: 22° | 33° Lüderitz: 15° | 28° Ariamsvlei: 24° | 35° Oranjemund: 14° | 25° Luanda: 27° | 28° Gaborone: 20° | 32° Lubumbashi: 17° | 26° Mbabane: 16° | 21° Maseru: 11° | 29° Antananarivo: 16° | 27° Lilongwe: 17° | 27° Maputo: 20° | 28° Windhoek: 17° | 29° Cape Town: 17° | 28° Durban: 20° | 24° Johannesburg: 16° | 24° Dar es Salaam: 26° | 32° Lusaka: 20° | 30° Harare: 16° | 29° Economic Indicators: Currency: GBP to NAD 23.8 | EUR to NAD 20.37 | CNY to NAD 2.62 | USD to NAD 18.9 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.33 | EGP to NAD 0.39 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.74 | ZWL to NAD 0.04 | BRL to NAD 3.77 | RUB to NAD 0.2 | INR to NAD 0.23 | USD to DZD 134.15 | USD to AOA 832.63 | USD to BWP 13.71 | USD to EGP 47.35 | USD to KES 130.98 | USD to NGN 1415.13 | USD to ZAR 18.91 | USD to ZMW 25.01 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 74536 Up +0.85% | Namibian Stock Exchange (NSX) Overall Index 1528.69 Up +0.84% | Casablanca Stock Exchange (CSE) MASI 12986.94 Up +0.04% | Egyptian Exchange (EGX) 30 Index 27559.35 Down -2.36% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 233.12/OZ UP +1.93% | Copper US$ 3.99/lb UP +0.12% | Zinc US$ 2 455.50/T UP 0% | Brent Crude Oil US$ 87.65/BBP UP +1.46% | Platinum US$ 908.62/OZ UP +1.53%