WEEKLY NEWS | 06 FEBRUARY 2023 | 184
THE MARKET WATCH
Australia Dec retail spending nosedives in warning for economy
SYDNEY, Jan 31 (Reuters) - Australian retail sales recorded the biggest drop in more than two years in December, as rising borrowing costs and sky-high inflation finally sank spending, an economic shock that may lessen the need for much more policy tightening.
Retail sales fell 3.9% in December from November, after 11 months of consecutive gains, Australian Bureau of Statistics (ABS) data showed on Tuesday, suggesting that rate hikes so far are working as intended.
That also marked the biggest drop since August 2020 when parts of the country were under a lockdown......
Baghdad (IraqiNews.com) – Iraq and France signed a memorandum of understanding (MoU) on fighting corruption. The agreement was signed in Paris by the heads of the French Anti-Corruption Agency and the Iraqi Commission for Integrity.
Several sections of the MoU dealt with how the two nations would cooperate to fight corruption. These sections covered recovering stolen and
smuggled Iraqi money before and after 2003, extraditing wanted people in corruption cases, fighting money laundering, and exchanging information to investigate corruption crimes and stop their spread......