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salary thresholds for overseas workers, including Indians, applying for the UK's Skilled Worker visas kicked in on Thursday, as part of tough new measures announced earlier to cut Britain's overall migration figures. For those applying under the Skilled Worker visa route, the salary threshold for an application will rise from GBP 26,200 to GBP 38,700 — an increase of 48 per cent. The UK Home Office said it forms part of a «robust and fair package of measures», which will mean 300,000 people who arrived in the UK last year would now not be able to and also prevent undercutting of domestic workers by cheap overseas labour. «It's time to turn off the taps and end the flow of cheap workers from abroad. Mass migration is unsustainable, and it's simply not fair. It undercuts the wages of hard-working people who are just trying to make ends meet,» said UK Home Secretary James Cleverly.

Modi has highlighted economic growth as one of his biggest achievements in election rallies and has "guaranteed" making the economy the third largest in the world from fifth now if he wins a third term in a row as polls predict. He has already asked officials to finalise plans by around May to expand the economy to $6.69 trillion in nominal terms by 2030, from around $3.51 trillion currently, according to the October document.

Narendra Modi, confident of winning a national election starting this month, has set an ambitious target of roughly doubling the economy and exports this decade, according to a government document seen by Reuters. Modi has highlighted economic growth as one of his biggest achievements in election rallies and has «guaranteed» making the economy the third largest in the world from fifth now if he wins a third term in a row as polls predict. He has already asked officials to finalise plans by around May to expand the economy to $6.69 trillion in nominal terms by 2030, from around $3.51 trillion currently, according to the October document. Though short on concrete details of how to achieve that, it has been a basis for officials' meetings.

Just as investors shouldn’t get carried away with artificial intelligence, enthusiasm about a booming economy can also become excessive. So far, economic activity remains strong, especially in the U.S., where consumers keep spending on extravagances and official figures for job openings and factory goods published this week came in better than expected. Yes, there are some fears that this will lead central banks to keep interest rates high, which is why the stock market sold off on Tuesday.

A consensus is emerging that Canada’s chronically slow economic growth and weak productivity constitute a national crisis. Bank of Canada senior deputy governor Carolyn Rogers last week called lagging productivity “an emergency,” saying “it’s time to break the glass.” With real GDP growth in the past decade the weakest since the 1930s and with real GDP languishing at 2014 levels, it’s hard to avoid that conclusion.

Oil prices reached their highest levels in five months this week, and economists say that could make the Bank of Canada a “little concerned” as it figures out the right time to cut interest rates.

powerful 7.2-magnitude earthquake struck Taiwan's eastern coast near Hualien County on Wednesday morning, killing nine people and injuring more than 1,000. The island plays an outsized role in the global chip supply chain as it is home to the world's largest chipmaker, Taiwan Semiconductor Manufacturing Co, which supplies chips to Apple and Nvidia.

RBI Governor Shaktikanta Das. This MPC meeting marks the commencement of the financial year's first bi-monthly review, where key decisions regarding interest rates will be made. Amidst rising inflationary pressures, market observers anticipate that the committee may maintain the repo rate at its current level of 6.5%.

In a significant step forward for the gig economy, Stride has unveiled a pioneering initiative that promises to help enhance benefits for independent workers.

Taiwan's biggest earthquake in at least 25 years is likely to tighten supply of tech components such as display panels and semiconductors, analysts said, as manufacturers in the global tech powerhouse restore operations at affected facilities. The powerful 7.2-magnitude earthquake struck Taiwan's eastern coast near Hualien County on Wednesday morning, killing nine people and injuring more than 1,000.

Gold surged to a record high on Thursday, as Federal Reserve Chair Jerome Powell underlined that recent job gains and higher-than-expected inflation readings do not significantly alter the overall picture of the central bank's monetary strategy. FUNDAMENTALS

A $62 million project to dredge Puerto Rico’s biggest and most important seaport has started amid fierce opposition from environmentalists and a pending lawsuit

Nasdaq closed higher on Wednesday after data showing the U.S. services industry growth slowed further in March, but the advance was limited after Federal Reserve Chair Jerome Powell indicated a cut in interest was still not in sight. Most of the major S&P 500 sectors advanced, led by gains in energy, materials and communication services .

BEIJING — China's real estate troubles are likely far from over and industry problems need to be addressed quickly if overall GDP growth is to pick up significantly, according to a report released Thursday by global investment firm KKR.

President Javier Milei’s aggressive campaign to slash spending, the latest in a series of painful economic measures that have put the libertarian government on a collision course with angry protesters and powerful trade unions. Presidential spokesperson Manuel Adorni announced the job cuts in a news conference, portraying them as key to Milei’s promised shake-up of Argentina’s bloated public sector.

Reliance Industries (RIL), Tata Motors and Indian Oil Corporation (IOC) will be the key bidders for the government's pilot project for the use of green/grey hydrogen (H2) in the transport sector, according to people who are aware of the development. The initiative is in line with the government's aim to decarbonise the economy, reduce dependence on fossil fuel imports, and enable India to assume technology and market leadership in green hydrogen. «The pilot projects will help to identify operational issues (with regards to H2) and gaps in terms of current technology readiness, regulations, implementation methodologies, infrastructure, and supply chains,» stated the revised request for proposal (RFP) document reviewed by ET. The bid for the Rs 496-crore project which opened in February, closes on Thursday. It is part of the National Green Hydrogen Mission which was launched in January 2023 with an outlay of Rs 19,744 crore. One of the key criteria from the bidders is participation as a consortium or partners to ensure the entire value chain — from making hydrogen and dispensing it and running vehicles fuelled by hydrogen. The bidding consortium should include a vehicle manufacturer, hydrogen fuel supplier distributor, and other partners as required.

Bad economic ideas don’t die. Instead they just return a decade later to haunt another generation. That seems to be the situation with China’s steel industry.

Mumbai: Homegrown Care Ratings Ltd plans to start its sovereign debt ratings service with countries in Asia and Africa, followed by Europe in the long term, a top executive said. The agency, which is creating a subsidiary in GIFT City for the purpose, will start with countries where it already has some presence, such as Nepal, Mauritius and South Africa. The board of Care Ratings last month approved setting up CareEdge Global IFSC Ltd for the purpose, managing director and group chief executive of CareEdge—a group level brand identity—Mehul Pandya said in an interview.

₹1.97 trillion (over $26 billion) to support manufacturing growth in 14 sectors, especially those that help in import substitution such as specialty steel and drone components. The outlay was for a period of five years starting 2022.

The Federal Reserve chairman delivers the keynote address at a Stanford University forum.

Former Chrysler and Home Depot CEO Bob Nardelli on consumer expectations clashing with EV market results and the state of the U.S. economy.