Live ASX News Today
Aussies are the world's wealthiest people, says Credit Suisse
Source: © Iqoncept | Megapixl.com
The millionaires club in Australia is no longer confined to the super-rich and renowned. According to a new analysis from Credit Suisse, there are as many as 1.8 million millionaires in Australia today based on net household worth.
According to the report, Australians are the world's wealthiest people, with a median adult wealth of US$238,070, and the number of billionaires in Australia will reach about 3.1 million by 2025.
The majority of Australians' wealth comes from owning company shares and homes, which have risen in value due to historically low-interest rates throughout the epidemic.
Australia saw the third-highest increase of millionaires during the epidemic last year, with 392,000 people joining the once-exclusive club by 2020.
According to Credit Suisse, approximately one out of every 10 Australian adults is now a millionaire in US dollars, meaning that there are many more billionaires in local currency.
Indian multinational conglomerate Reliance commits US$10 billion towards clean energy
Source: © Allexxe | Megapixl.com
Indian multinational conglomerate Reliance Industries Limited – the operator of the world’s biggest refinery located in Jamnagar in western India has made commitments to invest US$10.1 billion towards clean energy in the next three years.
- The key decision is attributed to the company’s long-term goal to become carbon neutral by 2050, like its peers Royal Dutch Shell Plc and BP Plc.
- Regulators and policymakers across the globe want financial institutions to do more to accelerate the push to a low carbon economy and meet UN sustainable development goals.
- The company will invest INR 600 billion to build four Giga factories in Jamnagar to produce energy storage batteries, solar cells and green hydrogen.
Rio Tinto and Schneider enters an MoU for decarbonisation solutions
Source: Copyright © 2021 Kalkine Media
The world's second-largest metals and mining corporation, Rio Tinto (ASX: RIO), has signed an MoU with Schneider Electric to develop digital platforms, solutions and technologies to deploy across metals and mining supply chain.
- Both the companies inked the memorandum to develop a sustainable and circular market for their customers.
- Under the agreement, Schneider Electric will use responsibly sourced minerals produced by mining behemoth, including low-carbon copper and aluminium. In turn, to supply, Rio will use Schneider's energy and industrial services.
- Working in the partnership will allow both the companies to pursue opportunities beyond the ownership of both the firms.
Lockdown resumes in Sydney as NSW wrestles with new 22 COVID-19 cases
Source: © Yuryz | Megapixl.com
As Australia's major metropolis faces with a fast-growing Covid eruption, widespread new constraints will be imposed across Sydney, with 22 new instances of COVID-19 registered in New South Wales (NSW).
This is the largest daily increase since the outbreak began, bringing the total number of cases in the Sydney cluster to almost 70.
As NSW continues to combat a COVID cluster, hundreds of thousands of residents in the local government districts of Randwick, Sydney, Waverley, and Woolhara have been advised to stay at home.
Gladys Berejiklian, the Premier of New South Wales, declared that everybody who works in those local government areas (LGAs) should also stay at home, even though they reside elsewhere.
Moreover, residents must work from home, attend school from home, and only leave their homes for essential shopping, medical care, or exercise while the lockdown is in effect.
In addition, the Greater Sydney Region's mask-wearing restrictions have been expanded, and Sydney residents in regional NSW have been required to wear masks.
According to NSW's Chief Health Officer, case numbers are projected to grow further in the coming days, when more close contacts test positive for the highly virulent Delta strain.
In Australia, which has a population of 26 million people, the epidemic has claimed 910 lives. An 80-year-old man who became contaminated abroad and was diagnosed in hotel isolation was the sole COVID-19 death since October.