The Reserve Bank of Australia building in Sydney. Agence France-Presse
Australia’s central bank on Tuesday cut interest rates for the second time in as many months as it strives to revive a sluggish economy and reduce unemployment, a tough task that may yet require even more stimulus.
Central banks in Asia, Australia and New Zealand (NZ) have joined a brewing global currency war by slashing interest rates and pledging to keep them down, worrying markets over the risk of a chase to the bottom.
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
Australia’s industrial relations umpire raised the national minimum wage by 3 per cent from July 1, a smaller pay rise than the 3.5 per cent increase enjoyed by workers last year, reflecting a weakening economy and cooling inflation.
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, received on Sunday, the President of the World Bank Group, David Malpass and an accompanying delegation,
From instant licences and incubators, to affordable school places and art springing up all over town, Abu Dhabi’s Dhs 50 billion (US$13.6 biillion) programme Ghadan 21 is accelerating Abu Dhabi’s development as a place where businesses,
The global Food & Beverage (F&B) sector seeks to keep pace with changing consumer habits and spiraling spending, which now stands at more than $7.2 trillion annually, according to the Gulfood 2020 Industry Outlook Report.
Carmakers look to resume China output after virus forced closures. Toyota to resume China output at three plants next week. Toyota Motor Corp said it plans to resume output at three of its four main auto plants in China next week.