Finance considering oil subsidy, lower VAT
Subsidies and a lower value-added tax rate are among the options being eyed by the finance department to cushion the impact of rising oil prices on the public. Finance Usec Gil Beltran added that subsidies will be targeted at poor families and channeled through the oil firms.
Financial market highlights: TSX closed 1.95 points lower to 12,601.18 .
TORONTO – Highlights at the close of Friday’s world financial market trading.Stocks:S&P/TSX Composite Index — 12,601.18
Australian Trade Surplus Shrinks as Coal, Iron Ore Lead Exports Lower
Australias Trade Balance surplus narrowed for the first in three months in July, printing at A$1.8 billion. Economists were expecting a shallower decline to A$3.1 billion ahead of the release. Exports slumped 4.6 percent, with shipments to China Australias top trading partner and the top source of demand behind the mining boom that kept the antipodean economy afloat amid the so-called Great …
Financial sector opens lower after jobs disappoint
BOSTON (MarketWatch) — The Financial Select Sector SPDR Fund was off 0.4% in the early going Thursday after the Labor Department estimated weekly jobless claims rose to 500,000, the highest since November 2009. Credit-card firm MasterCard Inc. said Thursday it’s buying DataCash Group PLC for $520 million. Insurance giant American International Group Inc. is preparing its first bond sale since …
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