Windhoek Observer

Auto executives around the world are entering 2024 with less confidence that the industry will achieve more profitable growth over the next five years, according to the latest KPMG Global Automotive Executive Survey. The survey of more than 1000 senior executives in thirty countries and territories reveals a dip in optimism as the sector deals with concerns over the global economy and rising costs. Overall, just 34% of executives said they are extremely confident versus 41% in the previous year. In Japan, the share of executives surveyed who are extremely confident dropped from 32% last year to 10% in the…

The International Air Transport Association (IATA) has released data for November 2023 global air cargo markets indicating the strongest year-on-year growth in roughly two years. This is partly due to weakness in November 2022, but also reflects a fourth consecutive month of strengthening demand for air cargo. Global demand for air cargo, measured in cargo tonne-kilometres (CTKs), increased by 8.3% compared to November 2022. For international operations, demand growth was 8.1%. Capacity, measured in available cargo tonne-kilometres (ACTKs), was up 13.7% compared to November 2022 (+11.6% for international operations). Most of the capacity growth continues to be attributable to the…

Martin Endjala The National Petroleum Corporation Company (NAMCOR), in partnership with Galp Energia Operators and Custos, made an exciting announcement yesterday, revealing a significant oil discovery in the Mopane-1X exploration well, located in PEL83, the Orange Basin, offshore Namibia. This exciting discovery comes on the heels of the initial announcement made on January 2, 2024. PEL 83 JV partners have now officially confirmed the presence of a substantial column of light oil in high-quality, reservoir-bearing sands within the Cenomanian-Turonian interval. This marks the second oil discovery in the Upper Cretaceous Orange Basin, showcasing a functional petroleum system in the Upper…