China is considering raising its retirement age, one of the lowest in the world, to address economic pressures from a shrinking workforce and growing elderly population. This move faces public concern over job competition and potential hardships for older workers, prompting discussions on equitable implementation.
Former President Donald Trump and Vice President Kamala Harris faced off in a heated first debate, trading jabs and accusations on issues ranging from immigration and the economy to abortion and the January 6th Capitol riot. Trump criticized Harris’s policies, particularly on immigration, while Harris accused Trump of lacking a plan for the economy and promoting dangerous ideologies. The debate also saw heated exchanges on abortion, with both candidates outlining their stances and facing questions from moderators.
U.S. Vice President Kamala Harris and former President Donald Trump clashed in their first and only scheduled presidential debate, offering starkly contrasting visions for the country’s economic future, handling of the COVID-19 pandemic, and trade policies. The debate covered key issues like the economy, tariffs, and the COVID-19 pandemic, with both candidates highlighting their respective plans and criticizing each other’s approach.
Despite recent market volatility, an analyst argues that corporate bond spreads indicate no impending recession. The spread for high-yield bonds has remained stable, suggesting investors are not overly concerned about economic downturn. Additionally, the Atlanta Fed’s GDPNow model continues to predict solid economic growth for the third quarter, further supporting a positive outlook.
Investors are navigating a turbulent market landscape, driven by U.S. economic uncertainty, Federal Reserve policy shifts, and the upcoming presidential election. This confluence of factors is leading to heightened demand for portfolio hedging, as evidenced by the rise in the VIX volatility index. While the market remains cautiously optimistic, the potential for economic surprises and geopolitical risks keeps investors on edge.
Spain’s tourism sector reached unprecedented heights in employment in 2024, marking a historic milestone. The surge in tourism has created a boom in various sectors, boosting the economy and offering thousands of new job opportunities. This growth is a testament to the sector’s resilience and adaptability, making Spain a leading travel destination.
US markets closed higher on Monday after a previous week of sell-offs, as investors sought bargains. Positive sentiment was fueled by anticipation of key inflation reports and the Federal Reserve’s upcoming interest rate decision. Asian markets followed suit with gains across major indices, while European markets showed mixed performance. Commodities saw mixed movements with crude oil and natural gas declining, while gold and silver gained. US futures traded lower in the pre-market.
Iraq, heavily reliant on oil revenue, faces a budget crunch in 2025 due to declining oil prices. Despite increasing the 2024 budget, the government is preparing for tighter financial discipline in the following year. The country is focusing on boosting non-oil revenue through better tax collection to mitigate the financial challenges.
Renowned economist Peter Schiff has issued a stark warning, predicting that Federal Reserve rate cuts will not prevent a recession. He believes the US economy has been in a recession for some time, despite official confirmation. Schiff’s warning aligns with growing concerns among financial experts, with many predicting an impending recession despite the Fed’s actions.
Nepal’s tourism sector is showing signs of recovery after the COVID-19 pandemic, with foreign tourist arrivals reaching their second-highest level since 2019. However, the number of visitors fell short of expectations due to unfortunate incidents, highlighting ongoing challenges. Despite this, tourism revenue has surged, highlighting the sector’s resilience and crucial role in Nepal’s economy.
