Here is a look at what is making news around the country today.
Today’s national news includes Australia and Vietnam strengthening bilateral relations; economy decelerating, underscoring case for rate cuts; ASIC penalising ASX, issuing infringement notice; and Virgin Australia planning to allow pets on board planes.
Politics
Australia and Vietnam elevate bilateral relations
Prime Minister Anthony Albanese said Australia was raising ties with Vietnam to the level of a comprehensive strategic partnership, with an annual dialogue on minerals, Bahrain News Agency has reported. The partnership will support expanded cooperation on various issues, including climate, environment and energy, defence and security, and economic engagement and education, a joint statement by the two countries said. According to the Vietnamese government, Mr Albanese and Vietnamese Prime Minister Pham Minh Chinh also witnessed the exchange of 12 cooperation documents on areas including energy, minerals, agriculture, banking, and finance.
https://www.bna.bh/en/news?cms=q8FmFJgiscL2fwIzON1%2BDiUyXgBGBBw2%2Bn4eh1k2A3g%3D
Economy
Economy decelerates, underscoring the case for rate cuts
Australia’s economy grew at a snail’s pace in the December quarter as a punishing squeeze on household incomes brought consumer spending to a standstill, reinforcing market bets that the next move in interest rates will be down, Reuters reports. Data from the Australian Bureau of Statistics showed actual gross domestic product (GDP) rose 0.2 per cent in the fourth quarter, under forecasts of 0.3 per cent. Annual growth slowed to 1.5 per cent, down from 2.1 per cent the previous quarter and the lowest since early 2021 when the economy was emerging from a pandemic-driven recession.
Markets
ASIC fines ASX, issues infringement notice
Australia’s corporate regulator said that ASX Ltd had paid a $1.1-million fine following a compliance investigation, marking the first infringement notice issued to an exchange operator in the country, Reuters has reported. The Australian Securities and Investments Commission said it had reasonable grounds to believe ASX breached the rule requiring pre-trade transparency on 8,417 occasions between April 4, 2019 and Dec. 22, 2022. The regulations require bourse operator ASX to make available pre-trade information for orders on its market unless an exception applies.
https://www.nasdaq.com/articles/australias-corporate-regulator-fines-asx-issues-infringement-notice
Travel
Virgin Australia to allow pets on board planes
Virgin Australia wants to allow small cats and dogs in the cabin under strict conditions, 10 Play reports. Animals would not be allowed to roam around the plane or sit on passengers’ laps. Instead, they would have to stay in an airline-approved pet carrier under the seat in front of their owner. Only passengers in specific rows would be allowed to bring their furry friends on board, and they would have to pay for the service. The airline has yet to reveal details of the plan, including how much it would cost, but hopes the change will happen within 12 months once regulators tick it off.
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