Together, China and the US account for nearly half of the billionaires on the planet. Beijing, for the first time, has taken over New York to become the world capital of billionaires with 100 live there.

China has more billionaires than US now

China edged out America on several fronts in a new report profiling the world’s wealthiest people. Beijing pushed New York into second place – 100 to 95 – when it took over this year’s... Read more »

Australia’s mortgage debt reaches $1.4 trillion

By Greg McKenna (for Business Insider) Australia’s love affair with mortgage debt continued to march ahead in 2015, according to the latest data from banking regulator APRA. APRA’s quarterly Authorised Deposit-taking Institution... Read more »
Jin Liqun, president of the Asian Infrastructure Investment Bank (AIIB), speaks at a press conference in Beijing, capital of China, Jan. 17, 2016. (Xinhua/Li Xin)

Newly-opened Asian Infrastructure Investment Bank to revamp Asian economies

The Asian Infrastructure Investment Bank is designed to revamp aging infrastructure in emerging Asian economies. The Chinese-led bank starts with 57 member states and a capital stock of $100 billion. BEIJING (China)... Read more »

Oil dives below $33 – the lowest in 11 years

Oil prices hit their lowest in over 11 years on Wednesday, as the row between Saudi Arabia and Iran was seen making any cooperation between major exporters to cut output even more... Read more »

Health, Tech, Management top list as Best Jobs for 2016

While many people make promises to eat better or exercise more in new year, others look to land a new job or switch careers. If the latest jobs report is any indication,... Read more »

Australia and New Zealand dollar forecasts for 2016

Risks include the weather, the global scene, low export prices and deteriorating structural metrics, but there are reasons for cautious optimism too By Precious Silva (IBTimes) Analysts remain mixed on how the... Read more »

What economists are saying about Australia’s bumper GDP report

Australia’s GDP report shows the economy growing by a larger-than-expected 0.9% in the September quarter on the back of surging commodities exports and strengthening household consumption. Having had time to digest the... Read more »

Consumers urged to shop wisely in the final weeks before Christmas

NSW Fair Trading Commissioner Rod Stowe has urged consumers to purchase gifts wisely as we head into the last five weeks of shopping before Christmas and reminding shoppers and retailers of their... Read more »
Berlin is home to some of the world's top historical and cultural institutions, including the Topography of Terror, an exhibition on the site of the former Gestapo headquarters. Photo: Andrew McCathie

Australian entrepreneurs in Europe’s start-up capital

Start-ups are driving force in Berlin’s growing economy By Andrew McCathie in Berlin (for ABC) Australian-born Biunca Perera came to Berlin last year before starting to work with the online fashion group... Read more »
NSW

NSW Economy hits half a trillion dollar mark

NSW is the first half a trillion dollar state economy in Australia, with Treasurer Gladys Berejiklian welcoming the results of the ABS 2014-15 State Accounts. “This is the first time ever that... Read more »

Australian Dollar stronger but can the Labour Market data be trusted?

By Will Peters The Aus dollar outperformed the British pound over the past 48 hours thanks to data showing more jobs were created in Australia than many economists were expecting, but lingering... Read more »
Minister Ayres with Vice Governor of Jakarta signing the MOU with NSW

Australia and Indonesia sign agreement on Trade

NSW and Jakarta Agreement to enhance trade in areas of Agriculture, Education, Technology, Infrastructure services NSW and the Jakarta Capital City Government have today renewed their long-standing Sister State Relationship by signing... Read more »
Australia is one of the world's biggest coal producers

Australia approves controversial India-backed coal mine despite environmental concerns

Australia’s government has given its approval on Thursday for one of the world’s biggest coal mines to be built by India’s Adani Mining in Queensland despite environmentalists’ fears that the project threatens the... Read more »

Indonesia recorded a trade surplus of US$433.8 million in August

JAKARTA – Indonesia recorded a trade surplus of US$433.8 million in August, with exports reaching US$12.78 billion and imports at US$12.27 billion. The volume of trade also recorded a surplus of 28.94 million... Read more »

Andrew Robb in Indonesia to promote trade and investment

Trade and Investment Minister Andrew Robb is on a visit Jakarta to enhance our trade and investment relationship with Indonesia. Prime Minister Malcolm Turnbull felt it was important that the planned visit proceeds... Read more »

Foreign Minister Bishop signs MOU with Australian Fashion Chamber

Early this week, the Minister for Foreign Affairs, the Hon Julie Bishop MP, signed a Memorandum of Understanding (MoU) between the Department of Foreign Affairs and Trade and the Australian Fashion Chamber... Read more »

FIRST SOCIAL BENEFIT BOND DELIVERs strong return to investors

CANBERRA — Australia’s first Social Benefit Bond is continuing to support vulnerable families in its second year of operation while delivering strong returns to investors. Announcing the second year results for the... Read more »

Australia to explore opportunities created by Free Trade Agreement with China

SYDNEY — Trade and Investment Minister Andrew Robb will visit Kuala Lumpur from 23 to 24 August and Hong Kong from 25 to 26 August, and will lead a senior business delegation... Read more »
Nikkei goes global with Financial Times takeover

Japan’s Nikkei goes global with Financial Times takeover

Japan’s biggest-ever foreign media acquisition costs $1.3 billion TOKYO: Japanese media giant Nikkei’s surprise acquisition of the Financial Times for $1.3 billion underscores its goal to be the voice of Asia on economic affairs... Read more »

Toshiba CEO resigns over $1.2 billion accounting scandal

Toshiba CEO Hisao Tanaka resigned on Tuesday, according to CNN, after an internal investigation that revealed the company had been massively overinflating its profits. Norio Sasaki, vice chairman of the board, and... Read more »

Australia’s Aid for Trade aimed at creating jobs and building livelihoods

Australia has announced a new strategy to increase the impact of Australia’s aid for trade investments by driving sustainable economic growth and poverty reduction in developing countries in the Indo-Pacific region. Australia... Read more »

Australia to contribute $930 million to Asian Infrastructure Investment Bank, Joe Hockey says

Australia will become a founding member of the Asian Infrastructure Investment Bank (AIIB), Treasurer Joe Hockey has announced. The decision comes after extensive discussions between the Government, China and other key partners... Read more »
Australian Prime Minister Tony Abbott and Chinese Trade Minister Gao Hucheng attended the signing ceremony Wednesday in Canberra.

Australia, China sign landmark free trade agreement

Trade deal termed milestone in Australia and China bilateral relations Australia and China have signed a landmark free trade agreement after more than a decade of negotiations, providing a boon for jobs and... Read more »

Top 50 highest-rated CEOs in America as judged by their employees

America’s Favorite Bosses In 2015 Glassdoor, the careers website, has just released its third annual Employees’ Choice Awards for the Highest Rated CEOs. The survey is based solely on the input of employees who anonymously and voluntarily... Read more »