Canberra / AFP Australia’s government on Tuesday unveiled an election-focused budget to shore up economic growth amid a rocky transition from dependence on mining, doling out tax cuts for individuals and businesses. The annual announcement came as the central bank slashed interest rates to a new record low of 1.75 percent, following recent unexpectedly weak consumer prices, in order …

  Bandar Seri Begawan / The Diplomat On April 20, the Bank of China Hong Kong Limited (BOCHK) was granted regulatory approval by Brunei’s Monetary Authority to open a branch in the sultanate, making it the first Chinese financial institution to do so. While China’s penetration into Brunei’s economy is not new, the move will be read as a sign …

  New Delhi / Bloomberg India has rejected Apple Inc.’s request to import and sell refurbished iPhones to the world’s second largest mobile population, dealing a blow to its plans to court price-conscious consumers there. The US company’s application has been turned down, a telecommunications ministry official told reporters in New Delhi on Tuesday, declining to be identified because of …