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Jerome Powell delivered exactly what traders up and down Wall Street had long hoped for: A big interest-rate cut that would justify this year’s steep rally in stocks and bonds as the era of tight monetary policy finally began to reverse. Equities, especially those of economically sensitive companies, briefly surged Wednesday, driving the S&P 500 up as much as 1%. Ditto bonds, while the prospect of easy money ahead initially pushed up speculative assets like crypto.

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.»

Subscribe to enjoy similar stories. On Wednesday, India’s cabinet approved an ambitious programme for its space agency, Indian Space Research Organisation (Isro).

Subscribe to enjoy similar stories. Fed Chair Jerome Powell entered a new phase in his campaign to softly land the U.S. economy, lowering interest rates Wednesday with an audacious half-point cut.

Subscribe to enjoy similar stories. The Federal Reserve’s decision to lower interest rates by half a percentage point, announced on September 18th, is momentous for two reasons. As the first cut by America’s central bank since it lifted rates to quell inflation, it marks the start of a monetary-easing cycle.

As the U.S. Federal Reserve implemented its first interest rate cut since the early Covid pandemic, billionaire investor Ray Dalio flagged that the U.S. economy still faces an «enormous amount of debt.»

Chinese economy has the capacity to bring about long-drawn troubles for the entire world, looking at the amount of exports the nation carries for major countries across the globe. With big recession fears driving the Chinese economy at this point Bridgewater Associates founder Ray Dalio has broadly claimed that things in the country could be on the verge of an economic slowdown, something that has already happened during the pandemic period, and could happen yet again.

US Federal Reserve's Chair Jerome Powell shook the markets after their aggressive stance of a 50 basis points rate cut, the US economy is in a precarious situation. Meanwhile, the effects of the same can be easily felt in the Asia-Pacific markets as well, as they reportedly opened higher than usual, hours after the massive Fed rate cut.

The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for consumers

social security policy for gig workers within a few months, labour and employment secretary Sumita Dawra said Wednesday. «The gig and platform economy is set to expand exponentially. We estimate that the number of gig workers in India will surge to 23 million by 2030, up from 7.7 million in 2020,» she said. The Centre, she said, is looking at a dedicated scheme under the Social Security Code which will define mandatory social security benefits which should be given to the gig workers.

tax collections rose 22.61% to ₹4.36 lakh crore in the first half of the current financial year (April- September 15), signalling a strong corporate performance and robust economy, official data released on Wednesday showed. This includes advance corporate tax of ₹3,31 lakh crore and advance personal tax of ₹1,04 lakh crore. The advanced tax collections in the corresponding period last year stood at ₹3.55 lakh crore. The total advance tax collections for the first quarter (April 1 to June 15) was ₹1.48 lakh crore.

Fed Reserve Chair Jerome Powell holds press conference after announcing highly anticipated decision on interest rates.

«It is a huge responsibility to sit in the Treasury as the first female chancellor of the exchequer and be able to use my position to improve life for women across the UK – one that I do not take lightly,» Reeves said at a ‘Women in Economy' event hosted at Number 11. «By backing the Invest in Women Taskforce we can establish one of the world's largest dedicated investment funding pools for female-powered businesses, helping grow our economy,» the chancellor added. Women in Investment Awards winner's interview: Nicola Day from Greenbank Investments Her endorsement comes as found fe...

Q. What is the core of your research? A. I work on administrative and constitutional law — I focus closely on immigration policy and how Latinos, Latinas and other minority groups are treated in America. We’ve heard Donald Trump recently claiming immigrants were ‘eating pets’ in Springfield, Ohio — what are the roots of such discourse? It’s intriguing that we’ve just started hearing these claims which were first made in the Presidential debate held last week. This was Donald Trump’s response to a direct question about his plan for immigration. Trump has promised to conduct mass deportations of undocumented immigrants. The question on that was pointed. The answer was a deflection, with Trump claiming immigrants — he was referring to Haitians — were apparently eating pets.

US Presidential debate, where Kamala Harris has been claimed to get the better of him, according to latest polls.

Hitting the bull’s-eye on the two per cent inflation target in August was “good news” for the Bank of Canada, but it doesn’t mean the central bank’s efforts are done, according to a senior official.

US Federal Reserve is working upon a rate cut that could arrive any time now, and investors as well as the markets are both interested to know how much the Fed is looking at giving away for the benefit of the US economy and halt an impending US recession in its tracks. Recession has indeed become a major concern for US investors now, with the markets reacting proactively to the situation at hand, especially during the US election season, that has already started showing its teeth.

Nirmala Sitharaman on Wednesday said India is standing out globally in terms of economic growth and will continue to do so in the next few years. Sitharaman said the Unified Pension Scheme (UPS) for government employees approved by the Cabinet last month, balances the interests of government employees as well as taxpayers by not overburdening future generations with heavy pension bills. «We are much better off than many other countries, even if they are advanced countries, today they are struggling to grow. We are standing out as an economy which is growing at the fastest rate in the last few years, this year and the next few years also for which we can do prediction,» Sitharaman said. The Indian economy grew at 8.2 per cent in 2023-24. The Economic Survey 2023-24 tabled in Parliament in July projected the economy to clock 6.5-7 per cent growth this fiscal year.

The creation of a multi-billion-dollar investment fund seeded with federal government money and designed to attract additional investments from Canada’s large pension plans is among ideas put forward as former Bank of Canada governor Stephen Poloz pursues his mandate to help Ottawa find ways to direct pension billions into the Canadian economy, according to two sources with knowledge of the proposal.

US Fed Meeting Live Updates: The United States Federal Reserve's (US Fed) Chair Jerome Powell is expected to announce the first rate cut in over four years, since 2020, at a press conference today after concluding the two-day monetary policy meeting from September 17-18. The estimated US Fed rate cut will be announced AFP months ahead of the US presidential elections scheduled for November 2024.

Federal officials have identified more than 50 square miles of government-owned property across the U.S. as having great potential for renewable energy projects