Australian gov't under pressure over frozen cash


  • Business Premium
  • Friday, 24 Oct 2008

CANBERRA, Australia (AP) - Australia's government came under pressure Friday to change its unconditional guarantee for bank deposits after other financial institutions froze funds to prevent an investment exodus.

The government created a divide in the financial sector on Oct. 12 when it announced it would guarantee all bank deposits to shore up investor confidence shaken by the global credit squeeze.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Oil prices edge higher on tight supply, firmer demand expectations Premium
Malaysia setting up centre for 4IR to spur economy recovery Premium
Hibiscus Petroleum's 3Q net profit jumps to RM307.54mil, declares 1c div per share Premium
T7 Global posts net profit of RM2.72mil in 1Q Premium
Malaysia's recovery continues to be resilient, March's LI up to 111.3 points Premium
Bumi Armada posts improved 1Q net profit of RM185.76mil Premium
FBM KLCI stays positive as Asia shrugs off Wall St weakness Premium
CPI rises 2.3% in April, with food inflation higher at 4.1% Premium
Elon Musk drops out of US$200bil club again as Tesla tumbles Premium
Latex goods account for 83.1% of total exports for rubber products in Q1 2022 Premium

Others Also Read