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Merchantrade buys money changer Vital Rate

KUALA LUMPUR: Merchantrade Asia Sdn Bhd, the biggest money services business (MSB) provider by agent network in the country, has acquired money changing company Vital Rate Sdn Bhd.

Australia slashes interest rate to avert recession

SYDNEY, Australia (AP) - Australia's central bank slashed interest rates by one percentage point Tuesday in the latest bold move by the country's top finance officials to stave off a recession.