People walks past the Reserve Bank of Australia in Sydney. Reuters
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.
Australia’s central bank (CB) held rates at an all-time low of 1% on Tuesday as it weighed the impact of past easing though markets are wagering the tide of policy stimulus, which will compel it to cut rate again before year-end.
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.
Days after the Reserve Bank of India (RBI) said that India’s GDP growth for the financial year 2020-21 may remain in the negative territory, CRISIL has projected that the country’s economy contract by 5 per cent this fiscal, downgrade from its previous estimate of 1.8 per cent growth.
The Sharjah Chamber of Commerce & Industry (SCCI), stated that it has issued 4,527 electronic Certificates of Origin in March and April, while the total number of memberships until the end of April reached 1,215.
FTA has issued a decision to postpone the implementation of the ban on supplying, transferring, storing, and possession of water pipe tobacco and electrically heated cigarettes in the UAE that do not carry digital tax stamps until Jan.1, 2021.