Economy

Is the international education crisis nearing its end for Australia?

November 23, 2021 08:41 PM AEDT| By Akanksha Vashisht

Highlights The pandemic-driven lockdown restrictions have continued to weigh heavily on the education sector. While many universities have offered remote learning, they have not been able to secure revenues similar to pre-pandemic levels. The .....

Are Australia’s ‘COVID-19 honeymoon’ days numbered?

November 23, 2021 03:24 PM AEDT| By Ashish

Highlights COVID-19 has stirred up fresh concerns across Europe and Singapore. According to experts, a fresh surge in COVID-19 cases in Singapore may be due to the weakening effect of the coronavirus vaccines. Dale Fisher, an advisor to the WH.....

What's pumping up Australia's consumer confidence?

November 23, 2021 03:13 PM AEDT| By Akanksha Vashisht

Highlights Australia’s consumer confidence level improved during the past week. Improvement can be seen across the labour market, where wages have risen, and foreign investment has also poured into the country. Rising inflationary pressu.....

How supply chain meltdown can affect your Christmas feast

November 22, 2021 10:44 PM AEDT| By Priya Bhandari

Highlights The UK’s supply chain crisis is causing shortage of products in supermarkets and rising inflation with warnings of shortages of everything for the Yuletide toast. Britons have started shopping and preparations for Christm.....

Why are Aussies stashing cash in times of cashless payments?

November 22, 2021 01:22 PM AEDT| By Ashish

Highlights While tap-and-go payments have become the norm during pandemic, cash in circulation has continued to surge as well. The banknotes in circulation have jumped 20% between February 2020 and October 2021. As per the RBA, cash is i.....

Japan mulls US request to use gas stockpiles, rations in BC after flood

November 21, 2021 05:09 PM AEDT| By Sundeep Radesh

Highlights Japan is considering tapping into its gas stockpiles after US’ request to India, Japan and China Under Japan’s law, it’s illegal to use reserves to lower prices British Columbia hit with gas rations after flo.....

RBA explores CBDC potential to support payments evolution

November 20, 2021 01:26 AM AEDT| By Aayush

Highlights RBA has been researching on Central Bank Digital Currency. The Central Bank of the Bahamas is the first central bank in the world to have their own full-fledged CBDC. Recently, the largest stablecoin Tether was fined US$41 million b.....

Privium’s collapse leaves customers in limbo; here’s what happened

November 19, 2021 02:31 PM AEDT| By Ashish

Highlights The collapse of home construction company Privium has left the future of hundreds of housing projects in jeopardy. Privium has halted 160 projects as it evaluates its financial position. The Group has debt of over AU$28 million. .....

Is Australia’s supercharged property market beginning to cool?

November 19, 2021 01:13 PM AEDT| By Akanksha Vashisht

It appears Australian property prices have finally begun to simmer down from their record high levels after a growing number of properties are being listed for sale across the country. Data on listings suggest a supply-side frenzy wherein sellers a.....

Why is iron ore so important to the Australian economy?

November 18, 2021 08:22 PM AEDT| By Akanksha Vashisht

Highlights Iron ore forms a vast majority of Australia’s resources. China has long been the primary iron importer for Australia. China’s absolute lack of iron ore resources makes it highly dependent on Australian imports. Iron.....

What would Google’s investment bring forth for Australia?

November 17, 2021 06:28 PM AEDT| By Akanksha Vashisht

Highlights Google has decided to invest a sum of AU$1 billion in Australia in the field of technology and research. Google intends to develop a partnership with the Sydney-based Macquarie University on quantum computing. The move is expected t.....

Australian wages rebound to pre-pandemic levels

November 17, 2021 03:32 PM AEDT| By Akanksha Vashisht

Highlights The wage price index rose 0.6 per cent during the September quarter. Wage and salary reviews around the end of the financial year prompted the wage hike. The RBA stated that wage growth is still slower than its set target for an int.....

Glasgow summit: COP26 climate pact in a nutshell

November 16, 2021 09:25 PM AEDT| By Rishika Raina

After being overrun by a day, Saturday bought an end to the COP 26 UN Climate Change Conference hosted by the UK in Glasgow. Government representatives, negotiators, businesses, and citizens from all over the world came together at the summit .....

Will 2022 be a normal year for world economy?

November 16, 2021 05:38 PM AEDT| By Toshiva Jain

The present world economy is looming as several market changes are taking place around the globe. Be it the energy crisis, or the fall of China’s property market or the high inflation in most economies; economists are in an acute situation to.....

What RBA’s Philip Lowe said on inflation: Five key takeaways

November 16, 2021 03:31 PM AEDT| By Aayush

Highlights Philip Lowe said most central banks around the world have concluded that the current increase in inflation rates are likely to be temporary. According to him, being consistent with a view of a transitionary inflation and not a persis.....

RBA Nov minutes: No rate hike until wage & inflation criteria are met

November 16, 2021 03:22 PM AEDT| By Chitranjan Kumar

Highlights Minutes of the RBA November meeting revealed that the economy expected to rebound quickly with ease in COVID-19 restrictions. Policymakers remained committed to maintaining a highly supportive monetary policy stance. RBA officials r.....

Voter Integrity Bill – Does Australia need this proposed electoral reform?

November 13, 2021 01:04 AM AEDT| By Manisha

The Australian government led by Prime Minister Scott Morrison has proposed to introduce voter identification legislation ahead of federal elections in 2022, citing it as a measure against alleged voter fraud. While the government says the measure .....