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Egypt: Submarine tragedy in Red Sea claims six lives, dozens rescued

A deadly incident occurred in Egypt’s Red Sea on Thursday March 27 when a tourist submarine sank during a trip to the resort city of Hurghada. The submarine, named Sinbad, was carrying 45 foreign tourists, including Russians, Indians, Norwegians, and Swedish, as well as five Egyptian crew members. Six Russian nationals tragically lost their lives […]

UN, AfDB reports carefully optimistic about Africa’s 2025 economic outlook, despite headwinds

This year, Africa is poised for modest economic growth, with recovery driven by the continent’s major economies, says a new UN report, with the AfDB projecting an annual growth rate of 4.3%, up from 3.7% last year. Nigeria, Egypt, and South Africa are expected to spur economic growth on the continent in 2025, according to […]

Carbon tax to slash South Africa’s exports

Carbon taxes, which the EU braces to impose, could slash by up to 10% South African exports, the central bank warned. The warning comes as the South African economy navigates tumultuous waters, with the flight of foreign investors, corruption, insecurity and electricity outages. The country produces 80% of its electricity from coal and is seeking […]