Bloomberg Australia’s back-to-back interest-rate cuts are flowing through the financial system and into the economy, while the falling currency should provide a similar stimulus to sustained declines of previous years, a senior Reserve Bank official said. “The transmission of monetary policy in Australia to financial conditions is working in the usual way,” Christopher Kent, assistant governor for financial markets, said …

Bloomberg The Swiss National Bank (SNB) may have to do more than pump billions into foreign exchange markets into prevent the franc from appreciating to a damaging level. With data suggesting the central bank recently intervened after the currency rose to the highest since 2017 against the euro, an increasing number of economists expect the SNB to reduce its benchmark …

Bloomberg Absa Group Ltd.’s push to reclaim market share lost while under the control of Barclays Plc is beginning to pay off at the South African lender’s main retail-banking business. First-half net income climbed 5.4% to 7.64 billion rand as Absa provided more personal loans and credit cards, while boosting the revenue it generates from fees and commissions, the Johannesburg-based …

Bloomberg It doesn’t look like the hub of an online bank. But that’s what the yellow and blue metal kiosk becomes when Albert Agane locks himself behind the metal bars every day at 6 a.m. From his perch along a dusty suburban thoroughfare in Accra, the 28-year-old helps fellow Ghanaians withdraw or deposit cash for accounts they operate from their …

HODEIDAH / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), on Wednesday launched a strategic water project in Qataba in the Khawkhah District, Hodeidah Governorate, as part of its efforts to respond to the needs of people in Yemen’s Red Sea Coast. Mohamed Al Junaibi, Director of Humanitarian Affairs at the ERC in Yemen, stated that …

ABU DHABI / WAM The UAE and Saudi Arabia allocated 540,000 tonnes of wheat to the Sudanese people, meeting the population’s ba-sic food requirements for thr-ee months, announced Abu Dhabi Fund for Development (ADFD) on Wednesday. ADFD Director-General Mohammed Saif Al Suwaidi said, “The food security support provided to the Sudanese people is in line with the wise directives of …

Bloomberg US technology companies would pay an additional $1 billion a month or more in tariffs if President Donald Trump follows through on his threat to impose duties on additional Chinese imports next month, a trade group said. Trump said last week that he plans to add a 10 percent tariff on essentially all remaining Chinese imports — a category …

Bloomberg Gold futures rallied above $1,500 an ounce on sustained demand for the traditional haven as the US-China trade war festers, global growth slows and central banks around the world ease monetary policy. The metal advanced 2.6 percent an ounce on Comex to highest since 2013. The move extends this year’s climb to 18 percent, with gains underpin-ned by inflows …

Bloomberg Oil plunged, re-entering bear-market territory, as central banks cut interest rates around the world, feeding into an increasingly dismal economic view. Futures in New York fell as much as 4.2% on Wednesday to the lowest in almost two months. Crude was swept up in a global meltdown of stock and commodity markets after rate cuts in New Zealand, India …

Bloomberg Sterlite Power Grid Ventures Ltd., one of India’s biggest private transmission companies, sees a $35 billion investment opportunity into grid-connected energy storage projects in the country over the next decade to support government renewables targets. Chief Executive Officer Pratik Agarwal said he expects central and state governments to issue battery tenders totaling several gigawatts of capacity by no later …