Page 29 - Australia

Australia's economic growth slows amid inflation, cost-of-living increases

The household saving ratio fell from 4.4 per cent in the last quarter of 2022 to 3.7 per cent, the lowest figure since 2008

China bullying Australia over appearance of Tibetan Prez in Canberra

The Chinese side urges the Australian side to see through the nature of the Dalai Clique, respect China's core interests and major concerns

Reserve Bank of Australia raises interest rate to 4.1% with 12th hike

Australia's central bank on Tuesday lifted its benchmark interest rate for a 12th consecutive time, to 4.1 per cent, and warned further rises could follow. The Reserve Bank of Australia boosted the cash rate by a quarter of a percentage point at its latest monthly meeting. That followed a higher-than-expected 6.8 per cent annual inflation rate reported for the January-March quarter. Reserve Bank Governor Philip Lowe said it would take time for inflation to fall to the target range of 2 per cent to 3 per cent. This further increase in interest rates is to provide greater confidence that inflation will return to target within a reasonable timeframe, Lowe said in a statement. The cash rate is now at its highest level since April 2012. The bank first started jacking up interest rates in June 2022. Lowe said further increases might be needed. The board will continue to pay close attention to developments in the global economy, trends in household spending, and the outlook for inflati

India face tough Australia challenge as it aims to end ICC title drought

A formidable bunch of Indian cricketers will require a perfect blend of skill and temperament when it clashes with an equally-strong Australia in the World Test Championship final, starting Wednesday, with an aim to end a decade-long global trophy jinx. India have been the most consistent side over the past two WTC cycles and also reached knockout phases of major white-ball tournaments over the last 10 years but a trophy has eluded them. The last major ICC trophy India won was way back in 2013 when it bagged the Champions Trophy in England. Since then, the side has lost three finals and on four occasion it bit dust at the semifinal stage. It also made an exit at the preliminary stage of the 2021 T20 World Cup. The country has been pretty much driving the finances of the sport and considering the vast talent pool on offer, the expectations of dominating the game on field seem only fair. Out of the six series India played in this cycle, their only series loss came in South Africa and

China's economic coercion fails to hurt Australia's economy: Report

China's decision of imposing a trade ban backfired as it affected its economic growth

Australian PM stresses need for diplomacy, guardrails in dealing with China

As tensions grow between the United States and China in the Asia-Pacific, Australian Prime Minister Anthony Albanese told a gathering of top defense officials on Friday that open channels of communication are critical for preserving peace, while also advocating effective deterrence. Albanese, who has been expanding Australia's military power in response to China's growing military assertiveness in the South China Sea, the South Pacific and the East China Sea, said he has also been working to stabilise the country's diplomatic relations with China. We recognise there are fundamental differences in our two nations' systems of government, our values and our world views, he said in his keynote address to the annual Shangri-La dialogue. But we begin from the principle that whatever the issue, whether we agree or disagree, it is always better and it is always more effective if we deal direct. Both US Secretary of Defense Lloyd Austin and China's new defense minister, Gen. Li Shangfu, wer

Australia raises minimum wage by 5.75% amid inflation effective from July 1

The spike was largely driven by an increase in fuel prices after the end of the temporary cut in the government's fuel excise tax

Australia's lower house passes referendum on Indigenous Voice to parliament

This means Australians are now one step closer to voting on whether to establish an Indigenous Voice to Parliament in the country's first referendum since 1999

Australia must accept truth about relationship with China: Defence minister

Australia's Defence Minister Richard Marles said that the country must accept 'inconvenient truths' about its relationship with China, news.com.au reported

LIVE: 25 ministers to take oath on Sat in new Karnataka cabinet expansion

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Indians banned in some Australian universities amid fraud applications

Punjab, Gujarat, and Haryana have been identified as states posing the highest risk of attrition in these universities

LIVE: 'Blatant affront to democratic ethos,' NDA slams Oppn's decision

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India, Australia aim to conclude comprehensive trade deal by end of 2023

India and Australia on Wednesday inked a migration and mobility partnership pact to open up opportunities for students, academic researchers and business people and resolved to conclude a comprehensive trade deal by the end of year to significantly expand economic ties. The pact was signed after wide-ranging talks between Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese. In his media statement, Albanese said the aim is to conclude the comprehensive economic cooperation agreement (CECA) by the end of the year. "We reiterated our shared ambition for an early conclusion of the Australia-India comprehensive economic cooperation agreement later this year," he said in the presence of Modi. Last year, India and Australia finalised the Economic Cooperation Trade Agreement (ECTA) and it came into force in December last. The two sides are now working on the CECA. "Today, in my meeting with Prime Minister Albanese, we talked about taking India-Australia Comprehens

India-Aus set up task force on green hydrogen; Modi-Albanese discuss ties

Modi's three-nation tour also included attending the G7 and Quad summits in Hiroshima and visiting Papua New Guinea

Sydney Harbour Bridge, Opera House light up in Tricolor for PM Modi's visit

The Sydney Harbour Bridge and the Opera House here were illuminated with the Indian tricolour to welcome Prime Minister Narendra Modi who visited the iconic landmarks on Wednesday. Prime Minister Modi was accompanied by his Australian counterpart Anthony Albanese during his visit. The Sydney Harbour Bridge is famous for being the world's largest steel arch bridge. It is an imposing steel arch bridge extending from the Central Business District to the North Shore and offers a spectacular view of the Sydney Opera House and the surrounding area of the Sydney Harbour Bridge. The Opera House is Sydney's best-known landmark. It is a multipurpose performing arts facility. The building also houses restaurants and a professional recording studio. In 2007 the Opera House was designated a UNESCO World Heritage site. The lighting up of the two landmarks comes a day after Modi was accorded a rock star welcome with a 21,000-strong crowd greeting the Indian leader at a diaspora event in Western .

Australia will establish new Consulate General in Bengaluru, says Albanese

Australia's Prime Minister Anthony Albanese announced the opening of the new Australian Consulate General in an Indian city, Bengaluru

India, Australia working on comprehensive trade agreement: PM Modi

Prime Minister Narendra Modi on Tuesday said India and Australia are working on a Comprehensive Economic Cooperation Agreement (CECA), and exuded confidence that the bilateral trade will more than double in five years. The two countries have already signed India-Australia Economic Cooperation and Trade Agreement (ECTA), he said expressing hope the pact will help in doubling the two-way commerce in the next five years. Addressing a community event at Sydney's Qudos Bank Arena, the Prime Minister said the two countries are now working on CECA. "We are building a resilient and reliable supply chain. This will strengthen the business of both countries," he said. Modi, who is visiting Australia as a guest of the Australian government, said the air connectivity between India and Australia has increased and the number of flights would go up further in the coming days. Australia was the 13th largest trading partner of India in 2022-23. While exports stood at USD 6.95 billion, imports from

Millions of Indians mourned Australian spinner Shane Warne death: PM Modi

Prime Minister Narendra Modi on Tuesday invoked cricketing ties between India and Australia and said millions of Indians mourned when the great Australian spinner Shane Warne died last year. Modi addressed a well-attended community event at the Qudos Bank Arena in Sydney, one of the country's biggest indoor stadiums, along with his Australian counterpart Anthony Albanese. He gave examples of yoga, cricket, films and the cooking show Masterchef' to highlight the strong bonds between India and Australia. "Our cricket relations have completed 75 years. Our off-the-field friendship is as profound as the interesting cricket matches on the cricket field," Modi said. "Last year, when the great Shane Warne passed away, millions of Indians mourned along with Australia. It felt as if we had lost one of our own," he said. Warne, 52, one of the greatest spinners cricket has ever seen, passed away in Thailand in March last year. He was found unresponsive in his villa and could not be revived.

India-Australia relationship based on mutual trust and respect: PM Modi

The India-Australia relationship is based on mutual trust and respect, Prime Minister Narendra Modi said on Tuesday as he addressed a special community event here. Modi along with his Australian counterpart Anthony Albanese attended the event at Sydney's Qudos Bank Arena. Albanese welcomed Prime Minister Modi to the event, saying "Prime Minister Modi is the boss". "An absolute delight connecting with Indian diaspora at community programme in Sydney," Modi said during his address. Speaking about bilateral ties he said the "India-Australia relationship is based on mutual trust and mutual respect." Hailing the India-Australia cricket ties, he said millions of Indians were saddened when Aussie spin bowler Shane Warne died. Modi thanked Albanese for supporting him in unveiling the foundation stone of 'Little India', a suburb of Sydney. Earlier, Modi and Australian Prime Minister Anthony Albanese were welcomed with Vedic chants and traditional Australian aboriginal ceremony as they ar

'Prime Minister Modi is the boss', says Australian PM Anthony Albanese

"The last time I saw someone on this stage was Bruce Springsteen and he did not get the welcome that Prime Minister Modi has got," he said hinting at the cheerful crowd and visible excitement in the a