Economy

COVID-19 lockdowns hit Aussie jobs; vacancies drop 10%

October 02, 2021 12:00 AM AEST| By Furquan Moharkan

Job vacancies in Australia have seen a 9.8% decline in the three-month period between May and August 2021, as some of the major cities in the country were placed under lockdowns to battle the third wave of the COVID-19 pandemic. According to the l.....

UK Manufacturing PMI indicates slowest growth since February 2020

October 02, 2021 12:00 AM AEST| By Abhijeet

Highlights UK manufacturing sector witnessed the slowest growth rate since February of 2021 Growth slowed due to dismal pace in consumer and intermediary products Manufacturers are also struggling to recruit appropriately skilled workfor.....

Housing price rise: What to expect as Treasurer, regulators mull loan crackdown

October 01, 2021 02:29 PM AEST| By Ashish

Highlights The recent boom in housing prices has emerged as a major concern for the Australian Treasurer. The surge in home prices was fuelled by an increase in debt as record-low interest rates made larger loans more affordable. The treasurer.....

Evergrande founder's net worth takes a US$15.6 billion hit

September 30, 2021 12:34 PM AEST| By Furquan Moharkan

Highlights Xu Jiayin, Evergrande’s founder, has lost the most among the world’s richest in 2021. Jiayin has seen his net worth plummet by 66.98%. Shares of Evergrande have crashed by a massive 78.29% since the beginning of 2021. .....

Evergrande to sell stake worth US$1.5 billion in Shengjing Bank

September 29, 2021 07:01 PM AEST| By Furquan Moharkan

Highlights Evergrande is set to dispose of its entire stake in Shengjing Bank. The stake sale would fetch Evergrande US$1.5 billion. The company has a US$47.5 million bond interest payment deadline today. Embattled Chinese property .....

‘Get vaxxed for snacks’: Uber Eats offers discount for COVID-19-vaccinated Aussies in NSW

September 29, 2021 11:18 AM AEST| By Ashish

Aussies residing in New South Wales (NSW) Local Government Area (LGA) coronavirus hotspots have a chance to avail AU$20 off on the food ordered from food delivery platform, Uber Eats. Uber Eats has launched a campaign to ‘get vaxxed for snac.....

China faces double whammy as power crisis adds to Evergrande woes

September 28, 2021 04:56 PM AEST| By Furquan Moharkan

In a double whammy, the world’s second largest economy – China – has been grappling with a massive power crisis in its north-eastern region, besides battling the fallouts of an inevitable default by the embattled property develope.....

Woollahra’s historic mansion with no harbour view sold for record price

September 28, 2021 12:43 PM AEST| By Ashish

Highlights Woollahra’s historic mansion Rosemont has become the costliest house the highest price in Sydney in 2021. The house with no harbour view, has reportedly been purchased by an undisclosed buyer for AU$45 million. The 10-bedroom .....

Germany election results denote a shift in global voting pattern

September 28, 2021 12:32 PM AEST| By Furquan Moharkan

Ballot paper of the German Bundestagswahl 2009 (Bundestag elections). The centre-left party in Germany seems to be set to form the next government. The centre-left Social Democrats (SPD) were on track for 26% of the vote, ahead of 24.5% for Christi...

Canada top news: Immunized vs unvaccinated, oil crisis & CIBC expansion

September 28, 2021 12:37 AM AEST| By Shreya Biswas

Highlights A new survey done for the Association of Canadian Studies found that over three in every four residents think negatively of the unvaccinated. With supplies as they currently stand natural gas is expected to continue to surge as winte.....

Record house prices driving Australian household wealth

September 26, 2021 12:30 AM AEST| By Samta

Highlights Australian household wealth increased by US$735 billion in June 2021. Property prices in Australia increased by 6.7% -- recording the strongest quarterly growth. With record low interest rates, demand is increasing beyond the gene.....

Health Of the Australian Economy As Christmas Approaches

September 26, 2021 12:27 AM AEST| By Rini Zachariah

The tiny Covid- 19 virus has wreaked havoc on the health of humans and economies across the globe. Australia too is no exception. So let us see what is happening to the health of the Australian economy after the recent surge in cases. Status of th.....

Is Australia falling behind in race to digital economy?

September 24, 2021 01:41 PM AEST| By Aayush

According to the Australian Academy of Science, Australia is at the risk of falling behind in the technology world among technologically driven countries. Countries such as the US, the UK, Canada, etc., are already bumping up their investments in d.....

RBA has sounded the household debt alarm; here’s why

September 24, 2021 11:58 AM AEST| By Aayush

Highlights Australia’s housing debt has been rising aggressively and the RBA has voiced concerns about the same. Stringent mortgage lending standards and sufficient bank capitalisation could protect lenders, should the country face anothe.....

Prospects of small businesses amid broader economic recovery

September 24, 2021 10:21 AM AEST| By Sonal Sinha

Highlights Micro, small and medium size businesses are aggressive and plays a vital role in economic recovery. Many small businesses were hit hard during the COVID-19 pandemic due to lockdown restrictions in place. The Government has introduce.....

Impacts of vaccination on businesses in Australia

September 24, 2021 06:00 AM AEST| By Rini Zachariah

Highlights As per the employment marketplace, there is a 55% y-o-y surge in the short-term jobs advertised. The country has also registered a monthly 20% increase in online shopping in August. The current status in the country is that governme.....

How is Australia faring on the vaccination front?

September 22, 2021 03:50 PM AEST| By Furquan Moharkan

Anti-lockdown protests have been rocking Sydney and Melbourne since Sunday as lockdowns to contain the COVID-19 spread continue across major Australian cities. Anti-vaccine mandate protests in Sydney and Melbourne got heated on Sunday and Monday. .....