South Africa Financial News

Union cabinet's approval for 'one nation, one poll' has set the ball rolling for what is, indeed, an ambitious venture. If the proposal is passed by Parliament, India will join an exclusive club. Only three countries — Belgium, Sweden and South Africa — have ONOP.

South Africa is set to implement a points-based system for issuing work visas and permits to individuals wishing to live in the country while working remotely for foreign companies. Home Affairs Minister Leon Schreiber announced that the new regulations for both visa categories are now finalized, and the rollout is expected within the next 30 days. The new system will allow individuals employed and paid in another country to reside in South Africa while spending their foreign earnings locally. Schreiber highlighted the benefits, stating, «A person who is employed and paid in another country will now be able to move to sunny South Africa to spend all of their dollars, yen, euros, pounds or renminbi right here.» He clarified that these remote workers are only required to register with the tax agency if they reside in South Africa for more than six months in a year. Schreiber, a member of the Democratic Alliance, emphasized the attractiveness of the remote-working visa, saying, «Our new remote-working visa must be one of the best deals I’ve ever come across. South Africa carries none of the cost of employing these nomads, yet we reap all of the benefits.»

Lucara Diamond Corp. has recovered another mammoth diamond from a mine in Botswana, its second major find in a month.

election processes in seven countries including South Africa, Sweden and Belgium, before recommending simultaneous polls for Lok Sabha and state assemblies in India, according to the committee's report approved by Union Cabinet on Wednesday. The other countries where simultaneous elections are conducted are Germany, Japan, Indonesia and the Phillipines. The panel led by former president Ram Nath Kovind had submitted its report to President Droupadi Mumu in March recommending simultaneous elections for Lok Sabha and state assemblies as the first step followed by synchronised local body polls within 100 days. According to the report, a comparative analysis of other countries was drawn while dealing with the issue of simultaneous elections. The aim was to study and adopt the best international practices to ensure fairness and transparency in elections.

Subscribe to enjoy similar stories. The Federal Reserve’s expected rate cut Wednesday will sound the all-clear for overseas central banks that are also concerned about their domestic economic growth. Some of the world’s most consequential central banks, including those in the eurozone, the U.K.

Samir Kumar will take over as the country manager for India replacing Manish Tiwary who stepped down from his role in August. Kumar will take India responsibility in addition to his current charter of leading Amazon’s consumer businesses in the Middle East, South Africa and Turkey. Kumar is working closely with Tiwary on the transition, and will assume operational responsibilities for India starting October 1, Amazon said in a statement. Samir, who joined Amazon in 1999, was a part of the original team that planned and launched Amazon India in 2013.

The world’s centi-millionaires — individuals with liquid investable assets of US$100 million or more — have ballooned by 54 per cent over the past decade, a new report shows.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

A 36-hour monetary rollercoaster will start with the Federal Reserve’s probable decision to cut interest rates on Wednesday, and finish on Friday with the

Dragon Ball Daima directed by the late Akira Toriyama is all set to release on October 11 in Japan at 11:40 PM JST. Crunchyroll will stream the anime on the same day for the global audience.

Pravin Gordhan, who was a South African government minister for many years after beginning his political career opposing apartheid, has died

Ajit Doval on Thursday briefed Russian President Vladmir Putin on Prime Minister Narendra Modi's talks with Ukrainian President Volodymyr Zelenskyy in Kyiv amid renewed efforts to find a peaceful solution to the Ukraine conflict. Doval met Putin at the Konstantinovsky Palace in St Petersburg on the margins of a conclave of the (Brazil-Russia-India-China-South Africa) grouping. «As the prime minister told you during a telephone talk that he was keen to brief you about his visit to Ukraine and his meeting with President Zelenskyy. He (PM Modi) wanted me to come and personally brief you about the talks,» Doval told the Russian President. The NSA said the Modi-Zelenskyy talks were in a very «close format».

External Affairs Minister S Jaishankar on Thursday dismissed the argument that there was no need for «another club» called the BRICS, and said he was struck by the «insecurity» in the developed world over the grouping. During a conversation with Ambassador Jean-David Levitte at Global Centre for Security Policy, a think tank, here, Jaishankar said if the G7 can exist when there is the G20, there is no reason why BRICS cannot. Accounting for 27 per cent of global GDP, BRICS was founded by Brazil, Russia, India and China; later South Africa joined it, and in January 2024, five new countries — Iran, Saudi Arabia, Egypt, UAE and Ethiopia --joined the bloc. «Why the club? Because there was another club! It was called the G7 and you will not let anybody else into that club. So, we go and form our own club,» Jaishankar told to a loud cheer from the audience.

India and China on Thursday agreed to work with «urgency» and «redouble» their efforts to realise complete disengagement in remaining friction points in eastern Ladakh as NSA Ajit Doval held talks with Chinese Foreign Minister Wang Yi in St Petersburg with a focus on an early resolution of the lingering border standoff. Doval conveyed to Wang that peace and tranquillity in border areas and respect for the Line of Actual Control (LAC) are essential for normalcy in bilateral ties, according to the Ministry of External Affairs (MEA). The Doval-Wang meeting took place in the Russian city on the sidelines of a conclave of national security advisors of the BRICS (Brazil-Russia-India-China-South Africa) nations. «The meeting gave the two sides an opportunity to review the recent efforts towards finding an early resolution of the remaining issues along the Line of Actual Control, which will create conditions to stabilise and rebuild bilateral relations,» the MEA said.

Narendra Modi on the sidelines of the BRICS summit in Kazan next month when NSA Ajit Doval called on him in St Petersburg. The Putin-Doval meeting came nearly three weeks after Modi travelled to Ukranian capital Kyiv and held talks with President Volodymyr Zelenskyy. Doval is in St Petersburg to attend a conclave of national security advisors of the BRICS (Brazil-Russia-India-China-South Africa) nations. The summit of the grouping will be held in the Russian city of Kazan from October 22-24. Modi is set to attend the summit.

South Africa’s justice minister has denied corruption allegations against her related to a mutual bank scandal in which thousands of retirees lost their life savings

A top Kremlin official says Turkey has formally applied for a membership in the BRICS bloc of developing economies as Russia and China seek to counter the West's global influence

Rahul Dravid appeared relaxed and engaging during his on-stage interaction at the CEAT awards ceremony. Reflecting on his cricketing journey and taking questions from the audience, Dravid entertained guests with his witty remarks and asked for career advice via email. «The beauty of functions like this and the beauty of awards like this is that when they put up these videos, they show just the lovely things that you have done on the cricket field,» said Dravid, emphasizing the thrill and challenges of the game. «The honest fact, and that is the truth, is that you are failing a lot more than you are succeeding in this game. But that's what makes it so much more fun, so much more enjoyable.»

Bangladesh made history by defeating Pakistan by 6 wickets in the second Test of the two-match series, securing a remarkable 2-0 series whitewash. This victory has dramatically reshaped the World Test Championship (WTC) 2023-25 points table, further diminishing Pakistan's chances of reaching the final at Lord's in June 2025. With this series loss, Pakistan has plummeted to 8th place in the WTC standings, just above the last-placed West Indies. Pakistan's disappointing performance in the current WTC cycle has seen them win only two of their seven Test matches, leaving them with 16 points—the fewest among all nine teams—and a PCT of just 19.05. Bangladesh's triumph has propelled them to 4th place in the WTC table. With three wins and three losses, they have accumulated 33 points and a PCT of 45.83. Prior to this series, Bangladesh was in 6th place but has climbed two spots due to their impressive performance against Pakistan.

A senior official has confirmed a report that Turkey wants to join the BRICS bloc of developing economies but fell short of confirming that the NATO country had formally applied for membership

A former top official at South Africa’s state-owned passenger railway company has received a 15-year concurrent prison sentence for faking his engineering qualifications and other cases of fraud