Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia. Reuters/ File Photo
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 injected A$6.90 billion ($4.10 billion) into the financial system on Tuesday and bought A$4 billion in bonds as economists predicted a spike in unemployment and the worst recession in the country’s history due to the coronavirus.
Australia is pumping about A$100 billion ($56 billion) into the economy as it seeks to minimise the blow from the coronavirus epidemic. The Reserve Bank of Australia (RBA) slashed interest rates in an out-of-cycle cut to an all time low
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Board of Trustees of the Dubai Future Foundation, on Wednesday approved a set of new projects across key sectors, including transportation, aviation, urban planning and healthcare.
The Middle East’s premium Rotating Machinery Technology & Innovation gathering - RoTIC Symposium 2023 concluded with resounding success, bringing together industrial leaders, manufacturers, and chief engineers from various sectors. The symposium, which focused on Rotating Machinery and its
Abu Dhabi Department of Economic Development (ADDED) and MT Group, a Shanghai-based valve manufacturer, have signed an agreement to strengthen value chain for high-precision equipment in Abu Dhabi, attract more Chinese industrial investments to the emirate and promote sustainable development.
Abu Dhabi Securities Exchange (ADX) has partnered with Sharjah Islamic Bank (SIB) to streamline and facilitate greater access to Initial Public Offering (IPO) subscriptions for investors. The partnership will see both ADX and SIB work together to simplify the process of obtaining a National Investor Number (NIN)