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Australian government clarifies Pacific fund

As another Asia-Pacific Economic Cooperation (APEC) forum concluded, representatives from different nations posed many more questions than they received answers to. Two of the main lines of talks centered around China and how its relationships with both the US and Australia will affect the future of the Pacific. The trade war between the US and…

Big banks drag Aust market lower

The Australian share market has closed lower as the battle between the Turnbull government and the big banks over a proposed $6.2 billion levy on Australia’s five biggest financial institutions continues to weigh upon investor sentiment towards the financial sector. At 1615 AEST, the benchmark S&P/ASX200 was down 64.5 points, or 1.1 per cent, at…

Hong Kong set to adopt Open Banking

Hong Kong is set to be one of the first countries to fully embrace Open Banking. A survey by Accenture found that the concept is much more appealing to those in the autonomous region than it is to some of the major Western countries that have tried to introduce it. There have been talks about…

75% of Australian homes sold for less than purchased

Startling new figures from property data specialists Corelogic revealed that a whopping three-quarters of all Australian homes lost their value in the three months leading to October 2018. The figures showed that these homes sold for less than their purchase price. The Australian housing market has been in an overall decline for some time, but…

Wages still ahead of prices

Wages still ahead of prices; Used cars in vogueWage price index; Consumer confidence; Lending financeWage growth: The wage price index rose by 0.5 per cent in the March quarter to be up 1.9 per cent over theyear. Annual underlying inflation remains below wages at 1.7 per cent.Consumer confidence: The Westpac/Melbourne Institute survey of consumer sentiment…