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US President Donald Trump’s war with Iran has forced the government to spend an extra $15 billion over four years, slashing economic growth forecasts and spurring warnings of a disastrous spike in inflation if the conflict drags on and oil prices surge to as much as $US200 a barrel.
The Albanese government has unveiled a daring overhaul of property tax to slug investors and help more first homebuyers enter the market – a move likely to be felt most acutely by Queenslanders.
Labor’s ambitious and politically risky tax reform aims to help first home buyers and foster intergenerational fairness
Several tax measures to help small business with cash flow have been made permanent in the budget. (ABC News: John Gunn)
Raising taxes on assets, incomes of high earners will add to state revenues and incentivise protecting property rights, economist says
Raising taxes on assets, incomes of high earners will add to state revenues and incentivise protecting property rights, economist says
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The weekend attack took place in Pakistan's Khyber Pakhtunkhwa province, which borders Afghanistan. (AP Photo: Aamad Khattak)
The government ‘is supportive of real-world assets … We also anticipate that future investment tokens and tokenised experiences will be settled using stablecoins,’ fintech group firm says
The government ‘is supportive of real-world assets … We also anticipate that future investment tokens and tokenised experiences will be settled using stablecoins,’ fintech group firm says
“We are building the Land of Israel and destroying the idea of a Palestinian state,” said Israeli Finance Minister Bezalel Smotrich on Friday. The action that brought on his comments: Israel’s uprooting of 3,000 Palestinian-planted trees in the occupied West Bank.
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SEOUL, May 12 (Yonhap) -- SKC Ltd., the chemical and materials arm of SK Group, said Tuesday it will issue new shares worth 1.16 trillion won (US$786.6 million) to invest in its glass substrate business and improve its financial structure.
The 2026-27 state budget has been labelled as reckless by the West Australian opposition, who have claimed it showed inflation was “made in WA” and strategies to address rising living costs were unsophisticated.
Since 2017, I have covered South Korea’s political and economic landscape as a reporter, with a focus on foreign affairs, inter-Korean relations and security.As a foreign affairs reporter, I closely follow developments from the Ministry of Unification, the Foreign Ministry and the Defense Ministry, tracking shifts i…
President Lee Jae Myung on Tuesday slammed a bad bank in South Korea for their "predatory" act of collecting borrowers' debts that are long overdue.
Demand for China-Europe flights surges as airlines avoid flying over Iranian airspace and divert tourists away from Southeast Asia
Demand for China-Europe flights surges as airlines avoid flying over Iranian airspace and divert tourists away from Southeast Asia
Treasurer Jim Chalmers will claim that a suite of tax changes covering negative gearing and capital gains tax will help 75,000 young Australians get into the property market.
The inaugural HIVE Art Fair in Seoul will experiment with an alternative business model that removes set booth fees and places emphasis on curatorial presentation. The five-event fair will start on May 21 at COEX Magok.
Kakao Pay is ramping up its offline payment expansion, aiming to grow monthly offline payment users to 10 million by 2027 as competition intensifies in Korea’s digital payments market.
Stock rally, overseas growth, SpaceX gains fuel record profit
Operadores de divisas reaccionan junto a una pantalla con el índice surcoreano Korea Composite Stock Price Index (KOSPI), a la izquierda, en la sala de operaciones del banco Hana en Seúl, Corea del Sur, el martes 12 de mayo de 2026. (AP Foto/Ahn Young-joon)
Ask.com, one of the internet’s earliest search engine competitors, has shut down its search business after nearly 30 years, marking the latest contraction in a market dominated by a handful of major players.
SEOUL, May 12 (Yonhap) -- The chief of the country's financial regulator said Tuesday that authorities will double the support for artificial intelligence (AI) firms.
U.S. President Donald Trump is set to meet Chinese leader Xi Jinping in Beijing this week, as they look to preserve their trade truce. (Nikkei montage/Source photos by Reuters)
Oil and gas giants benefited significantly from their trading desks through the first quarter, shining a light on a commercially sensitive and often-overlooked unit that tends to outperform during periods of market volatility.
SEOUL, May 12 (Yonhap) -- Yield rates on South Korean state bonds rose slightly in April from the previous month amid expectations of rising oil prices and inflationary pressure, market data showed Tuesday.
As South Korea's and Taiwan's benchmark indexes surged to record highs this year — powered by Asia's trillion-dollar titans — it has raised concerns that their rallies are becoming dangerously dependent on a handful of artificial intelligence winners.
Samsung Securities said Tuesday it launched a foreign omnibus account service in partnership with Interactive Brokers, marking a major step in efforts to attract more global retail investors to the South Korean stock market.
Currency traders react near a screen showing the Korea Composite Stock Price Index (KOSPI), left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, May 12, 2026. (AP Photo/Ahn Young-joon)
Sharjah developer Arada is planning to launch new projects in the UAE this year despite market uncertainties related to the Iran war, the company's chief executive has said.
Traders’ catch-cry ‘Not a Chance Hormuz Opens’ replaces ‘Trump Always Chickens Out’ as grim predictions swirl over gridlock, oil prices
Traders’ catch-cry ‘Not a Chance Hormuz Opens’ replaces ‘Trump Always Chickens Out’ as grim predictions swirl over gridlock, oil prices
The Chinese short-video platform’s shares jumped as much as 10 per cent amid $20 billion valuation of spin-off, Tencent investor talks
The Chinese short-video platform’s shares jumped as much as 10 per cent amid $20 billion valuation of spin-off, Tencent investor talks
SEOUL, May 12 (Yonhap) -- The South Korean economy is showing signs of recovery, thanks to robust semiconductor exports and improving consumption demand, but downside risks persist due to uncertainties surrounding the Middle East, a state-run think tank said Tuesday.
New Iranian strikes on its Gulf neighbours, a dangerous stalemate in the Strait of Hormuz and an inconclusive cycle of proposal and counterproposal between Washington and Tehran are straining many Middle Eastern economies. Iraq – a crucial regional crossroads – has more to lose from this conflict than most.
HD Construction Equipment said Tuesday its emergency automated equipment stop technology (E-Stop) has won Italy’s SaMoTer Innovation Award, expanding its push in Europe’s tightly regulated construction market.
SEOUL, May 12 (Yonhap) -- Rival parties have unveiled a package of campaign pledges ahead of the local elections, with the ruling Democratic Party (DP) focusing on promoting balanced regional development and artificial intelligence, while the main opposition People Power Party (PPP) is vowing efforts to improve the …
Islamabad turns to ‘panda bonds’ to secure cheaper credit and diversify its borrowing into yuan-denominated funding, with a focus on sustainable development
Islamabad turns to ‘panda bonds’ to secure cheaper credit and diversify its borrowing into yuan-denominated funding, with a focus on sustainable development
May 12, 2026 — 11:59am
Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.
Isuzu is a major investor in Thailand and remains committed as other Japanese companies scale back their expatriate staff in the Southeast Asian country. (Nikkei montage/Source photos by Rie Ishii)
Asia-Pacific’s largest intergenerational wealth transfer in modern times is set to transpire over the next 30 years, financial firm predicts
Asia-Pacific’s largest intergenerational wealth transfer in modern times is set to transpire over the next 30 years, financial firm predicts
SEOUL, May 12 (Yonhap) -- President Lee Jae Myung on Tuesday pledged to address what he called predatory financial practices burdening low-income debtors, referring to cases of defaulters excluded from a government debt cancellation program.
The chief of the Bank of Korea has been elected to the highest decision-making body of the Bank for International Settlements, Seoul's central bank said Tuesday.
SEOUL, May 12 (Yonhap) -- The chief of the Bank of Korea (BOK) has been elected to the highest decision-making body of the Bank for International Settlements (BIS), Seoul's central bank said Tuesday.