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Economy
Tier-Based System Goes Live, Boris Faces Tory Rebellion
December 03, 2020 01:43 AM AEDT| By Hina ChowdharyThe tier-based lockdown plans proposed by the British Government have finally received the approval from the parliamentarians in the House of Commons on 1 December. The new rules, which were implemented from 2 December, were supported by 291 votes .....
Canada’s New Spending Plan & C$381B Budget Deficit: How Did It Impact Stock Markets?
December 02, 2020 07:50 PM AEDT| By Team Kalkine MediaThe Canadian government published the much-awaited Fall Economic Statement on Monday, November 30, updating its spending plans and COVID-related emergency support measures. The document projected that Canada’s budget deficit could reac.....
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Why is RBA keeping interest rates at a record-low?
December 02, 2020 05:03 PM AEDT| By Edita IvancevicThe Reserve Bank of Australia (RBA) has agreed to retain the record-breaking low interests rates at 0.1 per cent for the remaining weeks of this year. However, the RBA did warn about a slow recovery caused by the coronavirus pandemic. On a Melbour.....
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Australian economy returns to growth in September quarter
December 02, 2020 02:21 PM AEDT| By Hina ChowdharyThe Australian economy bounced out of recession as the economy expanded by 3.3 per cent in the September quarter. The gross domestic product (GDP) growth had contracted 7 per cent in the June quarter, the worst in Australian Bureau of Statistics (A.....
Raising a glass against China: IPAC urges world to drink Australian wine
December 02, 2020 12:51 PM AEDT| By Edita IvancevicInternational parliament members from several political parties have joined forces to “stand against repressive bullying” as a response to China’s raising of wine tariffs for Australia. Several MPs from the Inter-Parliamentary Al.....
Canada To Implement Digital Tax From 2022: What All You Need To Know?
December 02, 2020 02:12 AM AEDT| By Kunal SawhneyCanada will enforce a tax on all digital service providers in the country from January 1, 2022. The amount raised by this digital taxation will boost federal coffers by C$ 3.4 billion in five years. This tax will continue till other countri.....
Main economic boost from vaccines to follow later: BoE
December 01, 2020 10:40 PM AEDT| By Hina ChowdharySilvana Tenreyro, policymaker, Bank of England said that the principal economic boost from the ongoing vaccination progress would only come once the Covid-19 vaccines are rolled out in the market. She added that the BoE needed to watch out for any pr...
Residential real estate regains its shine as house approvals hit a 20-year high
December 01, 2020 07:54 PM AEDT| By Team Kalkine MediaThe Australian Bureau of Statistics (ABS) has released building approvals data for October 2020. The data has been particularly encouraging for private sector houses or residential real estate. On a seasonally adjusted basis, building approvals fo.....
What can Australia do about its relationship with China?
December 01, 2020 07:00 PM AEDT| By Edita IvancevicAs China keeps continuously slamming Australia with additional tariffs on imported products, the land down under needs to think of a way to fight back. Trade experts believe Australia can do a lot more than just pursuing legal actions and taking th.....
RBA Monetary Policy Decision: No Changes to Policy Setup
December 01, 2020 05:41 PM AEDT| By Team Kalkine MediaThe Reserve Bank of Australia (RBA) has decided to maintain its monetary policy stance, with no new changes announced. With a target of 10 basis points for both the interest rate and the yield on 3-year Australian government bonds, RBA continues to.....
Economic Charter: Australia's Current Account and House Approvals Data Out
December 01, 2020 04:31 PM AEDT| By Kunal SawhneyAustralia’s current account surplus (seasonally adjusted) in the September quarter fell 39 per cent to A$10.0 billion, on account of lower goods and services surplus, according to the latest data from Australian Bureau of Statistics (ABS). Th.....
Missed Black Friday Sale? Here are Cyber Monday Deals 2020 in the UK
December 01, 2020 12:00 AM AEDT| By Team Kalkine MediaThe Black Friday is the Friday after Thanksgiving Day, but if by chance you miss shopping on that day, Cyber Monday falls on the following Monday and showcases mostly tech-related deals. The tradition of Cyber Monday has its roots in the United State...
Tighter Tier System: How Will It Affect the Hospitality Sector
November 30, 2020 09:36 PM AEDT| By Kunal SawhneyThe UK government has decided to implement a tighter tier system from this week after the second lockdown gets over on 2 December. The new tier system, which will be in place from 3 December, is being introduced as the risk of a sudden spike still ex...
New Zealand Housing Prices continues to Soar
November 30, 2020 08:32 PM AEDT| By Team Kalkine MediaThe latest survey conducted by ASB Bank Housing Confidence revealed that the market is currently on a new high in terms of housing prices. Mike Jones, senior economist from ASB revealed that after a short-term fall during the lockdown, the anticip.....
Is the decline in JobKeeper aid receivers a signal for the Australian economy’s recovery?
November 30, 2020 07:54 PM AEDT| By Edita IvancevicTreasurer Josh Frydenberg announced that more than two million Australians have stopped receiving the JobKeeper subsidy in less than two months. Ever since the NSW government reduced the overall JobKeeper payment in September, the number of recipi.....
Australia’s Gold & Battery metals shine brighter despite COVID scourge
November 30, 2020 05:43 PM AEDT| By Hina ChowdharyWhile the pandemic adversely affected the global economic scenario and the commodity markets, it acted as an unexpected catalyst for both gold and battery metals sectors. The rising call for clean energy has brought renewable energy and electric mo.....
What are business indicators reflecting for the Q3 for the Australian economy?
November 30, 2020 05:37 PM AEDT| By Kunal SawhneyData on Australia’s third quarter GDP is scheduled to be released on Wednesday, 2nd December 2020. The numbers would be closely watched as the gross domestic product (GDP) contracted 7 per cent in the June quarter when coronavirus related cur.....
Northern Territory welcomes first international students in eight months
November 30, 2020 04:16 PM AEDT| By Edita IvancevicNorthern Territory became the first Australian state to welcome the first batch of international students. A flight from Singapore transported 63 individuals from all over Asia – China, Japan, Hong Kong, Indonesia, and Vietnam. The students.....
Australian lobster industry in troubled waters after Chinese restrictions
November 30, 2020 03:32 PM AEDT| By Edita IvancevicThe China-Australia trade war has inflamed drastically over the past few months, adding the lobster industry to the pile of businesses in danger. Earlier this month, large amounts of shellfish were stuck at the Chinese airports, souring the alread.....
Australia’s Economic Charter: Any Emerging Green Shoots?
November 30, 2020 12:22 AM AEDT| By Team Kalkine MediaWith COVID-19 pandemic under control, the Australian economy is actively proceeding on the path of economic recovery. While the economy is not out of the woods yet, several green shoots are sprouting in the nation’s economy, stimulating hopes.....
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