top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Economy

20 Sept 2021

Australia to Meet With France In Hopes of Reducing Tensions Related to Submarine Deal

The Index Today

Australian Trade Minister Dan Tehan announced on Monday he will call for a meeting with France to reduce tensions related to $40 billion submarine deal.

Last week, the country said it will be ending the deal with France’s Naval Group and will instead move forward with a trilateral security partnership with the U.S and Britain to build eight nuclear-powered submarines.

The cancellation of the submarine deal infuriated French officials and has strained the relationship between both countries. France has recalled ambassadors from both countries adding to fears over Australia’s effort to establish a free trade deal with Europe. Dan Tehan reportedly said, “I will be very keen to touch base with my French counterpart while I’m in France.”

Meetings between officials from both sides have been scheduled for the 12th of October. Australian Prime Minister is currently travelling to the U.S for the upcoming Quad group meeting which includes Japan and India.

French officials have stated their disappointment of the new defense deal. China has also condemned the new deal under the trilateral pact. Relations between China and Australia have weakened in the last decade over issues such as Huawei being banned in the 5G network and Covid enquiries. As a retaliation, China has restricted imports from Australia and has terminated all communications at ministerial level.

©Photo: Sitthixay Ditthavong

Clay pottery with table linens
bottom of page