City Cape Town Financial News

Danish pharmaceutical company Novo Nordisk has signed a deal with South Africa’s Aspen Pharmacare to produce human insulin specifically for diabetes patients in Africa where there is a dire need for the life-saving treatment

International Cricket Stadium in Colombo, the lowest score ever recorded was not even 40. Meanwhile, Indian pacer Mohammed Siraj dismissed six Sri Lankan batters in his 6-over spell. The Sri Lankan innings is over in just 15.2 overs and the team is all-out for a total of 50 runs.

U.S.-based pharmaceuticals company Johnson & Johnson is being investigated in South Africa for allegedly charging “excessive” prices for a key tuberculosis drug

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By Olivia Kumwenda-Mtambo

International Monetary Fund warned that emerging markets must grapple with post-pandemic risks from tougher global financial conditions, the fragmentation of world trade into rival blocs and the impact of climate change. Those forces are “transforming the economic landscape and making the world more volatile and uncertain,” Gita Gopinath, the fund’s No. 2 official, said at a central banking conference in Cape Town, South Africa on Friday. Addressing those interconnected challenges will require an array of tools, she said, including more efficiently raising revenue and spending, diversifying trade, accelerating reforms to attract more investment, and implementing fiscally and socially sustainable climate strategies. Global interest rates could remain high “for quite some time” amid the fight against inflation, she said, adding that average long-term yields on emerging market dollar bonds have risen about 200 basis points — meaning their borrowing costs are higher — since the Federal Reserve began tightening policy.

By Kopano Gumbi and Wendell Roelf

Atlanta Federal Reserve Bank President Raphael Bostic laid out a case on Thursday against any further U.S. interest rate hikes, saying monetary policy is already tight enough to bring inflation back down to 2% over a «reasonable» period. «I feel policy is appropriately restrictive,» Bostic said in remarks prepared for delivery to the South African Reserve Bank Biennial Conference in Cape Town, South Africa.

grown-up persons meeting outside the ambit of Matchmaking Central. Will sparks fly this time? Will it be a damp squib in keeping with the relations between the countries these two people come from? Narendra Modi and Xi Jinping being in the same place (Johannesburg) around the same time (from yesterday afternoon till tomorrow) has got all tongues and tails wagging.

SUV by Mahindra and Mahindra, was recently unveiled during an event in Cape Town, South Africa on August 15. This concept is derived from the renowned Thar off-road SUV and features a distinct appearance, showcasing new design elements that will characterize Mahindra's forthcoming electric off-road SUVs. The electric Thar will join Mahindra's Born Electric series of vehicles.

global market for light-weight, four-wheel drive tractors with its new platform, Oja, unveiled on Tuesday. According to a top company executive, Oja, built at an investment of ₹1,200 crore, is an entirely novel venture for the company, whose expertise has been rooted in “heavy, rugged" tractors. Mahindra will build multiple models on the platform across four categories—sub-compact, compact, small utility and large utility segments—with seven products set to hit the Indian and foreign markets later this year.

Cape Town: Homegrown automaker Mahindra & Mahindra is looking to tap the 2-million unit market for mid-sized pick-ups with a new global lifestyle pick-up truck that will first be launched in its key existing export markets including South Africa, Australia and New Zealand, Africa, the Middle East and South & Central America, the company announced during its global concept showcase in Cape Town on Tuesday. Mahindra is aspiring to snag a double-digit market share in these countries, where it has a rapidly growing presence, albeit with a single-digit share in the respective markets.

SUV segment in India, today unveiled the “Vision Thar.e" at its signature Futurescape event in Cape Town, South Africa. The auto major said that the Thar.e boldly strides into the future on the INGLO-born electric platform, equipped with a cutting-edge high-performance AWD electric powertrain. Veejay Nakra, President – Automotive Sector, Mahindra & Mahindra Ltd.

Mahindra is poised to introduce the electrified Thar concept during an event in Cape Town, South Africa tomorrow. Building anticipation, the brand had recently unveiled an official teaser of the upcoming model, shedding light on several prominent features we can anticipate. The teaser offers a glimpse of the rear tail lamp, maintaining the prevailing design language of the current Thar—a square unit featuring a smaller square within.

Two people have been fatally shot on a fifth day of violent protests in the South African city of Cape Town sparked by a dispute last week between minibus taxi drivers and authorities

Australia delivered a dominant display to win the netball World Cup for the 12th time, regaining the crown with a clinical and classy 61-45 victory over England in the final in Cape Town.

Vehicles have been set on fire in the South African city of Cape Town after a dispute between taxi drivers and local authorities earlier in the week sparked disorder

New Delhi: The Resolution Professional (RP) of the Go First Airline informed the Delhi high court about their appeal to the Supreme Court against a division bench order. This order, upheld by the division bench, allowed lessors to inspect aircraft and rejected Go First’s plea.

Mahindra Thar EV is expected to have a quad-motor set-up. The concept electric vehicle (EV) is rumored to come equipped with crab steer or crab walk capability. This innovative feature allows all four wheels to turn to an almost 45-degree angle, enabling the SUV to maneuver sideways effortlessly into incredibly tight parking spaces.

insolvency resolution of an airline, persons aware of the details said. Under the Insolvency and Bankruptcy Code (IBC), once resolution proceedings are initiated, the transfer or disposal of assets of the stressed firm is effectively barred through a moratorium.

Netball World Cup 2023 begins this Friday i.e. July 28 and sixteen teams are ready to hit the court in Cape Town. It will run through August 6 (Sunday).