People walk past a shop, displaying sales promotions, in Melbourne, Australia. Agence France-Presse
Australia’s strong economic performance of recent decades has allowed its central bank to avoid the kinds of unorthodox policies seen in other countries, but record low rates mean less conventional measures may be needed to tackle new challenges.
Australia on Thursday unveiled its biggest shakeup in bankruptcy laws in nearly three decades, allowing small businesses to trade while insolvent and take more control over debt restructuring, in a bid to help firms through the coronavirus crisis.
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.
The 100 per cent foreign ownership in the UAE is indeed a great step forward among a series of other reforms that the UAE has boldly undertaken over the years to increase cost competitiveness.
Oil gained for a fifth day on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in US crude inventories.
General Motors Co on Wednesday boosted its spending on electric and autonomous vehicles, pulled ahead plans for two US battery plants and forecast stronger-than-expected second-quarter profits. The No. 1 U.S. automaker said it
Masdar City, the sustainable urban development in the UAE, is set to play a key role in the global green recovery from COVID-19 as it continues to add sustainability-focused innovation and technology companies. The number of companies