Backpacker tax compromise means more discrimination for these workers

Sep 29, 2016 03:50 am UTC| Insights & Views Law Economy

The government has reached a compromise with the Nationals over the so called backpacker tax, a tax of 32.5% in every dollar earned by those holding a working holiday visa. This will now be reduced to 19% but in an effort...

Rumors suggest regulators working on Deutsche rescue secretly

Sep 28, 2016 13:38 pm UTC| Commentary Economy

Rumors in the market are suggesting that Germanys biggest bank might receive a rescue from the government, though both have denied such allegations. Deutsche bank denied that it has asked the government for help and the...

China likely to maintain rapid pace of growth over the coming months, says Scotiabank

Sep 28, 2016 11:52 am UTC| Commentary Economy

The Chinese economy is expected to maintain a rapid pace of economic growth over the coming quarters, according to a report released by the Scotiabank said Thursday. However, its economic transition away from external...

Indonesian Rupiah to strengthen on tax amnesty inflows

Sep 28, 2016 11:51 am UTC| Insights & Views Central Banks Economy

The Indonesian Rupiah strengthened to a six-month high against the US dollar on the back of higher tax amnesty inflows. The government has been optimistic about tax amnesty inflows and has approved a total of 21 banks, 18...

Oil in Global Economy Series

Key takeaways from the oil meeting in Algiers

Sep 28, 2016 11:38 am UTC| Commentary Economy

Today is the final day of the International Energy Agencys (IEA) biennial summit in Algeria, where OPEC members are meeting outside their regular closed-door ones to discuss the future of the oil market. It is now clear...

Worrisome Signs Series

Worrisome Sings Series: Low rates erode banks’ profitability and rises pension deficit

Sep 28, 2016 11:01 am UTC| Commentary Economy Central Banks

The debate about the cost and benefits of low rates has started heating up. Central bankers like Mario Draghi, Janet Yellen speak in favor of low rates arguing that they have brought stability and without them, the world...

French consumer confidence remains unchanged in Sep, at par with expectations

Sep 28, 2016 10:33 am UTC| Commentary Economy

Consumer confidence in France remained stable during the month of September, remaining at par with what markets had initially anticipated. French consumer confidence index held steady at 97. The score remained below its...