Australia is expected to extend its enviable recession-free run of growth into a third decade, the government said on Tuesday even as it downgraded forecasts for coming years. Despite that, the government was able to promise a return to budget surplus in 2019/20 starting July 1, the first since 2007/08 before the global financial crisis hit. The improving budget position enabled the government
AJMAN: The Ajman Chamber of Commerce and Industry (ACCI) received a high-level Australian economic delegation to beef up the cooperation between the two sides and to explore the investment opportunities available in various fields in order to increase future trade exchange between them. Salem Al Suwaidi, Director General, received the delegation in presence of Jameela Kajour,
Australian inflation slowed sharply last quarter to the lowest in three years on weak petrol prices and a stubborn lack of wage pressure, a disappointingly weak outcome that ticks one of the boxes for an interest rate cut perhaps as soon as May.
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
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 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.
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.
Social media executives could spend up to three years in prison and their firms be fined 10 per cent of their turnover if they fail to quickly remove violent material from their platforms, according to a new law proposed by the Australian government
Australian police on Wednesday said they had apprehended a British suspected drug offender, who tried to flee to Papua New Guinea on a jet ski.
An Air Canada flight to Australia made an emergency landing in Honolulu after 37 people were injured, nine seriously, during the sudden loss of altitude that sent people flying into the luggage compartments and aisles of the airplane.