The headquarters of Reserve Bank of Australia in Sydney. Associated Press
Australia’s central bank cut interest rates for the third time this year on Tuesday in a bid to stimulate a sluggish economy and signalled it was prepared to do more if needed, knocking the local dollar to a one-month low.
Australia’s central bank (CB) held its cash rate at an all-time low on Tuesday, in a widely expected decision, and said it will help buttress the economic recovery by maintaining its accommodative approach as long as the support is required.
Australian Prime Minister Scott Morrison meet with the country’s central bank chief on Wednesday to discuss the nation’s slowing economy as pressure grows for urgent fiscal stimulus.
The global manufacturing activity expanded in July, adding to hopes the sector is emerging from the hit of the coronavirus pandemic.
The UAE, Saudi Arabia and Egypt drew up to 65.4 per cent of the total FDI inflows to the Arab nations in Q1-2020, according to a report released by the Arab Investment & Export Credit Guarantee Corporation (Dhaman)
Sheikh Ahmed Bin Humaid Al Nuaimi, Chairman of the Ajman Free Zone, AFZ, has launched AFZ’s eight new economic incentives for the second half of 2020.
The Dubai Real Estate Institute (DREI), in Dubai Land Department, DLD, is organising the first virtual real estate conference titled ‘Real Estate post-COVID-19 - Challenges and Solutions,’ in cooperation with a number of entities in Saudi Arabia.