Canberra, March 30 (IANS) Australian Prime Minister Anthony Albanese on Monday announced the government will halve its tax on fuel sales in response to record-high prices.Albanese told reporters in Canberra after meeting with the state and territory leaders on Monday morning that the fuel excise will be cut for three months from Wednesday.He said that the initiative would reduce the cost of petrol and diesel by 26.3 cents per liter amid rising prices driven by the Middle East conflict oil crisis…
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Canberra, March 25 (IANS) Australia’s annual rate of inflation fell to 3.7 per cent in February, defying the expectation of economists who had forecast it would remain at 3.8 per cent.According to official data released by the Australian Bureau of Statistics (ABS) on Wednesday, the consumer price index (CPI) rose by 3.7 per cent in the year to February, down from the 3.8 per cent reported in December and January.The Australian Broadcasting Corporation reported earlier on Wednesday that financial…
Canberra, March 18 (IANS) Australian Prime Minister Anthony Albanese on Wednesday flagged new measures to protect the country’s people from the ‘worst’ of the global economic uncertainty driven by the ongoing conflict in the Middle East.In a speech to an automotive industry event on Wednesday morning, Albanese described the conflict in the Middle East as another “major shock to hit the global economy” in the 2020s following the COVID-19 pandemic and the Russia-Ukraine conflict.”We want to make s…