RBA slashes near-term growth outlook as employment key to rates

Sydney. Australia’s central bank slashed its near-term growth outlook and is relying on persistent jobs market strength to cushion a property-driven downturn in household spending. The economy is expected to expand 1.75 per cent in the year through June versus 2.5 per cent seen three months earlier, and is then forecast to lift to 2.75 […]

UAE’s gold trade moves closer to ‘responsible sourcing’

Dubai: More businesses in Dubai’s gold and jewellery trade are likely to sign up for a certification that confirms the bullion used by them are “responsibly sourced”. The certification process is entirely voluntary, but industry sources believe doing so is the need of the hour and in keeping with Dubai’s “City of Gold” status. What […]

US hikes tariffs on $200b of Chinese goods, China says it will retaliate

The US hiked tariffs on more than $200 billion in goods from China on Friday in the most dramatic step yet of President Donald Trump’s push to extract trade concessions, deepening a conflict that has roiled financial markets and cast a shadow over the global economy. China immediately said in a statement it is forced […]