Australia is expected to lag behind its peers in reducing inflation and boosting economic growth, the International Monetary Fund has warned, as Treasurer Jim Chalmers prepares to attend a a series of high-level talks in Washington. With less than a month until the May budget, Dr Chalmers will leave theContinue Reading
SHANGHAI: China recorded its first-ever quarterly deficit in foreign direct investment (FDI), according to balance of payments data, underscoring Beijing’s challenge in wooing overseas companies in the wake of a “de-risking” move by Western governments.Onshore yuan trading against the dollar also hit record-low volume in October, highlighting authorities’ stepped-up effortsContinue Reading
Almost a third of Australians are at risk of running out of their savings buffers within six months and could be left vulnerable in the event of further interest rate rises, the Reserve Bank has found. In its biannual health check of Australia’s financial system, released just days after theContinue Reading
Leading Chinese planners voiced confidence on Wednesday in the outlook for the world’s second-largest economy, holding key interest rates steady amid signs of improvement in some areas such as services.The upbeat tone of officials speaking at a news conference in Beijing was in contrast to forecasts by the Asian DevelopmentContinue Reading
Australia’s trade tensions with China “are its own fault”. And the soured relationship serves “as a lesson not only for Australia but also for other Western countries in how to handle their relations with China”. That was the message being broadcast by Communist Party-controlled media outlets the South China MorningContinue Reading
A rally in the last hour of trading wasn’t enough to claw back losses after falls in the materials sector saw the local sharemarket close lower on Friday. The S & P/ASX200 closed 14.3 points, or 0.2 per cent lower at 7,5167.7, while the broader All Ordinaries fell slightly further,Continue Reading
The Reserve Bank has sounded the alarm on the fast-deteriorating Chinese economy, warning that its embattled property sector poses a major risk to Australia’s outlook. China is Australia’s largest trading partner and the world’s second largest economy, but it has faced mounting headwinds in recent months, ultimately sliding into deflationContinue Reading
China’s biggest property developer is on the brink of ruin after revealing a record first-half loss of $A11 billion. Country Garden was previously named by Forbes as one of the 500 largest companies in the world and until recently, boss Yang Huiyan was one of the richest women in Asia.Continue Reading
China is rolling out panicked measures in a desperate bid to boost confidence as the world’s second-largest economy grapples with a drastic downturn that’s sparking fears across the globe. In one of the biggest moves, Beijing slashed a tax on trading for the first time in 15 years on Monday.Continue Reading
When the RBA hands down its decision on interest rates on the first Tuesday of every month (excluding January), it is sometimes perceived as an all-powerful organisation handing down its judgement from on high to the rest of us. Given the power it holds over the financial fortunes of savers,Continue Reading