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Economy
Zoom Your Lens over Emerging Signs of Recovery in Australian Travel Sector
July 26, 2020 12:35 AM AEST| By Kunal SawhneyWhile international travel bans and stringent lockdown measures helped Australia contain the spread of COVID-19 pandemic initially, these actions sparked an unprecedented crisis in the travel industry, triggering widespread job and revenue losses. .....
Canada’s inflation leaves negative territory, increases 0.7 percent in June
July 25, 2020 04:20 PM AEST| By Team Kalkine MediaCanada’s benchmark inflation measure, the Consumer Price Index (CPI), grew 0.7 percent year-over-year in June, marking its return to positive territory. The inflation had turned negative in April following the enforcement of strict containmen.....
Australia's Greta Thunberg Moment? Melbourne Student Sues Government
July 23, 2020 09:56 PM AEST| By Kunal SawhneySummary The lawsuit alleges the Commonwealth of Australia and two government officials for failing in their duty to disclose how climate change would impact the value of government bonds. Katta O'Donnell, like many others, has lent government m.....
Australia to record biggest postwar deficit in 2020
July 23, 2020 08:39 PM AEST| By Kunal SawhneySummary Lately, Australia recorded a budget deficit of $86 billion amid COVID-19 and is projected to grow over $184 billion in 2020-21. The official unemployment rate is expected to peak at 9.25% in December quarter, while real GDP is likely to.....
June Retail Sales – 3 Key Trends
July 22, 2020 08:01 PM AEST| By Team Kalkine MediaSummary June retail sales growth was lower compared to a significant rise in the previous month, but the sales turnover was up over 8% compared to the same period last year. There have been two consecutive month sales growth in categories like .....
A Brief Outline of CUSMA And Its Impact on Canada
July 22, 2020 04:00 PM AEST| By Team Kalkine MediaThe Canada-United States-Mexico Agreement (CUSMA), also known as USMCA in the United States and T-MEC in Mexico, is the successor of the trilateral accord, North American Free Trade Agreement (NAFTA). CUSMA came into effect on July 1, 2020, and att.....
Virtual Tours: Bright Spot for Tourism Industry
July 22, 2020 02:21 PM AEST| By Team Kalkine MediaSummary Tourism boards in Australia are keeping travellers engaged by offering virtual tours. From adventure, nature, food or art lovers, there is an online trip for everyone. With strict lockdown, this seems to be an innovative idea to keep c.....
Can Negative Interest Rates help Economies?
July 22, 2020 01:41 PM AEST| By Team Kalkine MediaSummary Financial institutions are obliged to pay interest for storing the reserves, with the central bank under a negative interest rate policy. Policymakers in Denmark, Switzerland, Sweden, Japan and in the eurozone have allowed negative inte.....
Calls are Louder for Tax Reforms: Income and GST
July 22, 2020 01:14 PM AEST| By Team Kalkine MediaIf reforms are lacking in Australia, they are perhaps tax reforms. It has been over twenty years since a major tax reform in the country. In July 2020, the Goods & Services Tax (GST) completed twenty years, but policy thinktanks are demanding r.....
COVID-19 Striking Again: 5 Reasons Shares May Witness a Rise
July 21, 2020 09:50 PM AEST| By Hina ChowdharySummary Australia and many nations globally are better placed to tackle the second wave of COVID-19 cases, demonstrating the possibility of a lesser impact on the share market. Extension of Government stimuli package and RBA’s move to kee.....
JobKeeper 2.0: 5 Things to watch while Card Spending reflect different trends
July 21, 2020 09:10 PM AEST| By Team Kalkine MediaOn 21 July, Prime Minister Scott Morrison at a press conference in Canberra declared that the government would retain existing JobKeeper arrangements until September end before initiating JobKeeper 2 with phased cuts until 28 March 2021. Th.....
Retail industry faces ‘COVID-19 hangover’ as consumers spend with caution
July 21, 2020 04:00 PM AEST| By Team Kalkine MediaSummary The pandemic has left major impact on Canada’s struggling retail industry Consumer behavior has changed forever, and rules of retail are being rewritten by the new normal After historic declines in March and April, May retail fig.....
Japanese Exports face the Steepest Plunge as Economy sinks into Recession
July 21, 2020 02:29 PM AEST| By Team Kalkine MediaSummary Japan’s economy slipped into recession in May, with a contraction in GDP by 3.4% annually in Q1 2020, followed by a 7.3% plunge in the previous quarter. Exports plunged 26.2% in June from a year ago as overseas demand for cars, an.....
Double-dip Recession: A possibility in the US?
July 20, 2020 08:28 PM AEST| By Team Kalkine MediaSummary The resurgence of COVID-19 cases in some nations worldwide along with the US has sparked fears and risk of another global economic downturn. The rapid acceleration of coronavirus cases in the US is threatening the economic recovery of t.....
Will Australia experience a surge in Voluntary Administration once financial stimuli lapses?
July 20, 2020 05:24 PM AEST| By Team Kalkine MediaSummary The COVID-19 Pandemic has disrupted business activities leading to a significant business loss in many sectors primarily hospitality, tourism, airlines, and retail industry, pushing operators towards insolvency Government stimulus progr.....
Wuhan- A Classic example for how economies can get back on track post-pandemic
July 20, 2020 11:07 AM AEST| By Team Kalkine MediaThe terrible disarray overwhelming the world can indubitably be attributed to COVID-19 pandemic, causing market and economic havoc. Amid such perturbed situation preoccupying most governments and agencies, Wuhan which earlier became the epicenter .....
June jobless rate climbs to 7.4% despite addition of 210,800 jobs
July 16, 2020 09:11 PM AEST| By Kunal SawhneyAustralian market slid into negative territory after opening the day at higher note, as investors absorbed data reflecting a higher jobless rate for June. The benchmark index S&P/ASX200 was down by 0.69%, and settled at 6010.90 points, on 16 Ju.....
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A glance at Chinese Economy: rebounding or stalling?
July 16, 2020 06:36 PM AEST| By Team Kalkine MediaSummary Though economically China showcases progress, geopolitically China is garnering backlashes across the world, especially from the US for its recently imposed National Security Law on Hong Kong. China’s relationship with the US reac.....
Bells ringing around a Technical Recession for Economies across the Globe
July 16, 2020 04:32 PM AEST| By Team Kalkine MediaSummary Global economy has suffered a massive blow due to coronavirus pandemic and is facing its worst and deepest recession since World War 2. Singapore’s GDP dived by a record 41.2% in 3 months to June on QoQ basis, entering into a tech.....
Canada’s Bright Spots Amid COVID-19: The Gradual Return of Investments in Sunshine Sectors
July 16, 2020 12:00 PM AEST| By Team Kalkine MediaCanada’s economy and employment has been decimated by containment measures enforced to curb the spread of the coronavirus. In days following the lockdown, the country’s economy entered a recession and markets crashed, wiping off investo.....
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