Economy

Microsoft introduces smaller AI model

Microsoft on Tuesday announced a cost-effective, small language artificial intelligence model that can perform tasks such as content creation and creating social media posts while using smaller amounts of data.

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Economist sceptical about SA's labour activation programme

In a candid response to South Africa's newly-launched labour activation programme, Central University of Technology economist Mgcinazwe Zwane expressed dismay at the government's delayed recognition of the need for youth skill development.

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Kumba quarterly sales fall 10% as port challenges curb exports

Kumba Iron on Tuesday reported a 10% fall in first-quarter sales due to port equipment challenges, as South Africa's logistical problems continue to throttle commodity exports.

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SA to become Africa’s largest economy: IMF

South Africa is set to overtake Nigeria and Egypt as the continent’s largest economy, International Monetary Fund (IMF) forecasts show.

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Zambia seeks power imports for key mining sector

Zambia's State-owned electricity utility Zesco said this Monday it is seeking to import power to avert an energy deficit that could affect output in Africa's second-largest copper producer.

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Mauritius woos SA investors during investment week

The Mauritius Investment Promotion & Residency Week conference, currently taking place unveiled a wealth of burgeoning investment opportunities for South African (SA) entrepreneurs.

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Apple's Q1 phone sales in China fall 19.1%, Huawei's up 70%

Apple has experienced a significant sales slump in the first quarter of 2024, with figures showing a 19.1% decline.

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Capitec Bank reports a 16% rise in FY profit

South African (SA) lender, Capitec Bank, reported a 16% rise in full-year profit on Tuesday, helped by a strong performance during the second half as its net transaction and commission income grew by 30%.

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Nigeria seeking up to $2.25 bln in World Bank loans

Nigeria is seeking up to $2.25 billion in World Bank loans and expects the bank's board to approve the request in June, the government said in a statement following the IMF/World Bank spring meetings in Washington, D.C.

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Rand dips as investors await key economic indicators

The South African Rand has registered a marginal decline against the United States (US) Dollar.

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