Star Wars Trilogy☕ - Issue #7

Business

Namibia's Rising Debt-to-GDP Ratio Causes Concern Among Economists and Investors

Namibia's debt has gone up, up, up! The country's debt-to-GDP ratio hit 65.9% at the end of 2022, which is more than the recommended 60%. The increase was caused by a rise in Treasury Bills and External Debt, as well as a disbursement of the AfDB loan. Simonis Storm, an economic consultancy firm, predicts that Namibia's total debt will reach N$150.9 billion in the fiscal year 2023/24, a 13.6% increase from N$132 billion. On the bright side, the country's current account deficit has shrunk due to increased export earnings and lower investment outflows. While export earnings and lower investment outflows have helped shrink the current account deficit, Namibia must carefully manage its debt and work towards improving its fiscal position to maintain sustainable debt levels.

The Namibian Investment Promotion and Development Board(NIPDB) Identifies Renewable Energy, Agriculture, and Tourism as Key Areas for Investment and Growth

Namibia's potential investment of N$161 billion represents a significant opportunity for economic growth and job creation in the country. The NIPDB has identified renewable energy, agriculture, and tourism as key areas for investment and growth. While investors face challenges such as input costs and administrative gaps, the NIPDB is actively working to facilitate private projects that can create new opportunities for Namibia's economy. With continued investment and support, Namibia has the potential to become a regional leader in sustainable development and economic growth.

Namibian Banks Receive 122,000 Repayment Holiday Applications Worth N$4.5 Billion

Namibian banks have received over 122,000 repayment holiday applications worth N$4.5 billion from individuals and businesses. These repayment holidays are aimed at cushioning households and businesses from the worst impacts of Covid-19 pandemic and its related restrictions on economic activities. The Bank of Namibia has extended credit relief measures to enable banking institutions to continue providing relief to clients impacted by Covid-19, valid until 1 April next year. The extensions will provide further scope for banks to lend to the most vulnerable sectors of the economy during these challenging times.

IMF Warns of Weakest Global Economic Growth in Three Decades

The International Monetary Fund (IMF) has warned that global economic growth over the next five years is the weakest in more than three decades. Managing Director Kristalina Georgieva said that the world economy is expected to expand by approximately 3% over the next half-decade as higher interest rates bite. This is the lowest medium-term growth forecast since 1990 and less than the average of 3.8% from the past two decades. Georgieva called for nations to avoid economic fragmentation caused by geopolitical tensions and take steps to bolster productivity. She added that the poverty and hunger that increased during the coronavirus pandemic could climb.

Technology

Three New Star Wars Movies in the Works: Directors and Plots Revealed

Get ready to blast off to a galaxy far, far away because three new Star Wars movies are in the works! That’s right, buckle up your seatbelts and hold onto your lightsabers because James Mangold, Dave Filoni, and Sharmeen Obaid-Chinoy are set to direct the upcoming films.

During Star Wars Celebration Europe, Kathleen Kennedy revealed that Mangold’s movie will take us back to the beginning of the Jedi era. Meanwhile, Filoni's film will focus on the New Republic and will be directly linked to Ahsoka, The Mandalorian, and The Book of Boba Fett.

But wait, there’s more! Obaid-Chinoy’s film is the real kicker as it will see the return of none other than Daisy Ridley as Rey Skywalker. This time around, she will be starting a brand new Jedi Order from scratch after the events of The Rise of Skywalker.

No premiere dates or titles have been revealed yet, but who cares when we know that we’re getting more Star Wars goodness to feast on? So grab your popcorn, turn off your blasters, and get ready to travel to a galaxy far, far away. May the Force be with you!

Virgin Orbit filed for Chapter 11 bankruptcy

Virgin Orbit Holdings, the satellite launch firm owned by British billionaire Richard Branson, has filed for bankruptcy after failing to secure the funding required to continue operating. The Long Beach, California-based company has cut 85% of its staff, and its stock price has collapsed since a high-profile launch failure in January. The company used an air launch technique to place small satellites into orbit. Its vehicle never reached orbit after a fuel filter issue during the flight led to the loss of nine small satellites. Virgin Orbit began operations in 2017 as an offshoot of Branson's Virgin Galactic. The firm, part of the Virgin empire, which also includes Virgin Atlantic, has not turned a profit as a public company

Personal Development

Carl Jung, the influential psychiatrist, on the value of knowing yourself:

"The world will ask you who you are, and if you don't know, the world will tell you."

Source: Paraphrased from Memories, Dreams, Reflections