The Reserve Bank of Australia building in Sydney. Agence France-Presse
Australia’s big banks — once among the most profitable in the world — are being forced to amass war chests worth billions of dollars to reimburse customers for years of dodgy fees.
Australia’s central bank will consider cutting interest rates next month, Governor Philip Lowe said on Tuesday as the resource-rich economy looked set to join some of its global counterparts in easing financial conditions to boost growth. Lowe also urged the country’s newly re-elected government
Social media executives could spend up to three years in prison and their firms be fined 10 per cent of their turnover if they fail to quickly remove violent material from their platforms, according to a new law proposed by the Australian government
Stock markets gained on Tuesday, with chipmakers and companies exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed last week on China’s Huawei. In Europe, the broader Euro STOXX 600 climbed 0.6%,
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, has launched the ‘Golden Card’ scheme to grant permanent residency benefits to investors, entrepreneurs, specialised talents, researchers, and outstanding students.
The Sensex on Tuesday ended 382 points in the red, after touching a record high of 39,572 minutes into the trade. The session started on a firm note with Sensex hitting a life-time high of 39,572, but it failed to hold on to the early gains and ended over 380 points lower.
ENOC Group’s EPPCO Lubricants has signed a three-year MoU with Al-Futtaim Auto & Machinery Company (FAMCO), the GCC’s largest construction and commercial vehicle distributor in a first-ever agreement with the Group to exclusively supply lubricants, coolants and greases for its UAE operations.