Australia's central bank Friday cut its forecasts for economic growth and inflation this year and warned unemployment would likely rise as the economy transitions away from a mining investment boom.
Global stock markets were muted Friday as investors awaited monthly U.S. employment figures and the risk of a Greek default increased. The price of oil extended gains above US$50 a barrel.
Australia's central bank on Tuesday lowered its key interest rate by 25 basis points to a new record low of 2.25 percent, saying after a year-and-a-half on hold the cut was justified to spur growth.
A pick-up in core consumer prices in Australia has reduced the likelihood of a near-term interest rate cut, even as official statistics showed Wednesday that plunging oil prices slowed inflation in the last three months of 2014.
Citigroup Thursday became the latest big U.S. bank to report disappointing results, with earnings plunging 86 percent on a large legal charge and disappointing operating performance in some segments.
Xiaomi Corp. founder Lei Jun yesterday advised Taiwanese tech firms to make a bigger play in two sectors: smartphone apps and smart home devices.
Concerns Friday over injuries to Tim Southee and Rangana Herath disrupted preparations for New Zealand and Sri Lanka on the eve of the second Test in Wellington.
Third-party payment providers will have to fork out NT$10 billion in funds if they want to establish themselves as electronic banks, said Financial Supervisory Commission (FSC) Chairman Tseng Ming-chung (曾銘宗) yesterday.
Australia's central bank governor Friday called on the nation's politicians to tackle the "real issue" of the country's growing budget deficit, saying action was needed to retain credibility in financial markets.
Shopping via mobile phones is fast becoming the main option for spending money in China, with transactions from the not-so-developed western region of the country being the driving force, a report said on Monday.