New Zealand's Parliament passed legislation for a free trade agreement with India by a 93-29 vote, Trade and Investment Minister Todd McClay said in a statement on Wednesday.
The agreement will make 57% of New Zealand's exports to India duty-free from day one, with tariffs eliminated or significantly reduced on 95% of exports once fully implemented.
The FTA is expected to enter into force this year after both countries complete their respective ratification procedures, the statement said.
Taiwan's average regular earnings of all employees rose 3.32% year on year in July to NT$49,491, according to data released by the Directorate General of Budget, Accounting and Statistics on Monday.The average regular earnings of all employees include full-time employees with Taiwan nationality, part-time employees and industrial migrant workers.The total number of payroll employees increased by 87,000 from the previous year to 8.6 million at the end of July.The average regular earnings of full-time employees with Taiwan nationality increased by 3.67% year on year to NT$52,528 in July.From January to July, the average monthly regular earnings for all employees was NT$49,054, higher by 2.9% from a year earlier.
China's retail sales of consumer goods grew 0.4% year over year to 3.982 trillion yuan in August, according to data from the National Bureau of Statistics released Tuesday.The pace of growth was softer than the 0.6% expansion recorded in the previous month. It missed the consensus forecast of 0.7% growth tracked by Investing.com.Sales in urban areas rose 0.2% year over year to 3.446 trillion yuan, while rural retail sales edged up 1.6% to 536.7 billion yuan.For the first eight months of the year, retail sales in China rose 1.1% year over year to 32.8 trillion yuan, easing from the 1.2% growth in the January-July period.
Australia's total spending rose 1.1% in August due to higher essential costs rather than heightened demand, according to NAB's Consumer Spend Trend released on Tuesday.Total spending climbed 8.7% over the year, while monthly growth was 0.6%, excluding fuel.The report pointed to increasing pressure on households, with the end of the temporary fuel excise discount, combined with higher fuel prices, NAB Head of Australian Economics Gareth Spence said.Non-discretionary spending was up 2.2% in August, driven by a 12% jump in fuel and a 3.2% rise in utilities and telecoms.Meanwhile, discretionary spending was still growing, but momentum had slowed, Spence said.Discretionary spending rose 0.4%, with household goods broadly flat and personal goods down 0.2%.