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Saturday, May 11, 2013
Australia's central bank scaled back its inflation and growth forecasts Friday, warning of a “subdued” outlook as the commodities-driven economy transitions away from mining.
Friday, May 10, 2013
Australia's unemployment rate eased to 5.5 percent in April, data showed Thursday, beating expectations by creating 50,100 jobs despite a slowdown in the mining-driven economy.
National Australia Bank (NAB) posted a 22.8-percent spike in first-half net profit Thursday on the back of higher revenue from personal and wholesale banking, a result that met expectations.
Wednesday, May 8, 2013
Australia cuts rate to 2.75% to fight cooling mining boom, strong AUD
Australia's central bank cut its key interest rate by a quarter percentage point to a record low 2.75 percent Tuesday in an effort to boost economic growth as a mining boom cools and the strong Australian dollar erodes business profits.
Australia's election-year budget woes deepened Tuesday, with the government downgrading revenue forecasts by a further AU$5 billion (US$5.1 billion) as the nation's mining boom comes off the boil.
Tuesday, April 30, 2013
Australia's government said Monday that its tax revenue has continued to fall in recent months as company profits declined and the mining boom that kept the nation out of recession cools.
Monday, April 22, 2013
Australian Treasurer Wayne Swan on Sunday warned a high dollar and lower terms of trade had led to a AU$7.5 billion (US$7.7 billion) “sledgehammer” hit to budget revenues.
Friday, April 12, 2013
Australia's jobless rate jumped to 5.6 percent in March, its highest rate in more than three years, data showed Thursday, adding to the chances of a further interest rate cut.
Tuesday, April 9, 2013
China and Australia will begin direct conversion of their currencies in a sign of growing business links, Australian Prime Minister Julia Gillard said Monday on an official visit.
Thursday, April 4, 2013
Australia's flag carrier Qantas on Wednesday announced closer links with China Eastern Airlines to try to shore up traffic to Asia following the launch of its partnership with Emirates.
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