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Economy
Sunak announces £21bn cost-of-living support package. Is it enough?
May 28, 2022 12:23 AM AEST| By Rishika RainaHighlights Chancellor Rishi Sunak has announced a £15 billion cost-of-living package for struggling UK households. The Treasure will also give away a grant of £400 to every household, taking the total support package to £21bn......
What is Biotechnology Blueprint? How can it benefit Australia’s biotech sector?
May 27, 2022 06:08 PM AEST| By Aditi SarkarHighlights COVID-19 has been a stark reminder of the fact that biotechnology will be needed in future to face uncertain health crises Australia's biotechnology sector has united to launch the Biotechnology Blueprint: A Decadal Strategy for the .....
Will EV demand explode under Labor government?
May 27, 2022 04:05 PM AEST| By Toshiva JainHighlights A majority of Australians say they’d consider buying an electric model as their next car. The Australian Labor Party has formed a “Powering Australia Plan” that aims to make electric vehicles cheaper with an electri.....
Meet 10 richest Australians, know their whopping net worth
May 27, 2022 11:04 AM AEST| By Bhawna GuptaMany billionaires contribute to the overall economy of Australia. They come from different walks of life, different industries and have different set of lifestyles. Today, let us take you through a list that features the top 10 richest Australians......
Aussie petrol prices set for record highs: Factors fuelling rise
May 26, 2022 03:18 PM AEST| By Toshiva Jainraine and Russia. The age of skyrocketing prices is not new to Aussies now. According to the recent Reserve Bank of Australia (RBA) data, the Australian CPI is 5.1%. As a result of high inflation, the central bank decided to increase the fixed i...
What's in store for Australian house prices under new government?
May 26, 2022 01:50 PM AEST| By Akanksha VashishtHighlights The Reserve Bank’s latest interest rate hike has helped ease some of the pressure on the housing demand. The Albanese government has promised a set of reforms for the housing population. The supply-side challenges might make i.....
RBNZ raises interest rates again, what to expect from RBA?
May 26, 2022 10:50 AM AEST| By Akanksha VashishtHighlights The RBNZ was one of the first central banks to raise interest rates in the post-COVID period and has raised rates again by 50 bps in May. Global pressures have raised commodity prices and transportation costs, leading to supply-chain.....
WEF Davos 2022: Recession risks looming across the globe
May 25, 2022 02:22 PM AEST| By Akanksha VashishtHighlights In the World Economic Forum 2022, global leaders are joining forces to discuss global issues developing due to unfavourable factors. The pandemic was succeeded by supply-side snags and geopolitical tensions in Ukraine, which quickly .....
Kiwis gear up for more mortgage rates as RBNZ raises OCR
May 25, 2022 02:15 PM AEST| By ManikaHighlights As expected, the Reserve Bank of New Zealand raises the OCR by 50 bps This brings the OCR from 1.5% to 2% Expecting to raise the OCR more to bring down inflation to remit levels The Reserve Bank of New Zealand (RBNZ) Wednesday .....
RBNZ to announce OCR rates on Wednesday, what to expect?
May 24, 2022 04:14 PM AEST| By ManikaHighlights The Central Bank of NZ to announce the official cash rates (OCR) Wednesday It is almost certain that it will raise the OCR According to most of the economists, it will raise the OCR by 50 bps It is almost certain that the Reser.....
Can Australia’s new Labor govt heal the cracks within healthcare system?
May 24, 2022 02:23 PM AEST| By Aditi SarkarHighlights Following the victory of the Labor Party, Mark Butler is expected to be the new health minister of Australia The Albanese government is expected to implement practical measures to ensure proper care for older Australians To alleviat.....
What to expect from Australian economy as new government takes charge?
May 24, 2022 11:15 AM AEST| By Akanksha VashishtThe newly elected Labor government is expected to traverse through a series of pressing challenges left untreated by the previous ruling party. Though the Coalition cannot be solely blamed for the current economic scenario, many economic adversitie.....
How will a new government impact Australia-China relations?
May 24, 2022 10:46 AM AEST| By Akanksha VashishtHighlights Australia’s hostility toward China has grown following a set of undesirable moves by China. Labor plans to devise a new path for Australia and China’s trade and political relations. As China is a crucial market for Austr.....
Labor Party win in Australia: How will the result affect New Zealand?
May 23, 2022 06:09 PM AEST| By ManikaAnthony Albanese, belonging to the Labor Party, was sworn in as Australia's 31st Prime Minister on Monday. Albanese defeated Conservative Party's Scott Morrison on Saturday night after a six-week campaign. This ended the Conservative Party ru.....
Labor leader Anthony Albanese takes oath as Australia’s 31st PM
May 23, 2022 03:05 PM AEST| By Bhawna GuptaHighlights Anthony Albanese, the leader of Australia's Labor Party, was sworn in as the country's 31st Prime Minister. Penny Wong, a South Australian senator, was appointed as Australia's foreign minister. Jim Chalmers of Queensland was sworn...
Labor win: Here’s what Australian investors can expect?
May 22, 2022 04:44 AM AEST| By Khushboo JoshiFor the first time since 2013, Labor Party is all set to take the centerstage after Aussie voters ousted Prime Minister Scott Morrison’s conservative coalition government. Labor party leader Anthony Albanese will become the next pr...
Federal elections: Scott Morrison concedes defeat, to stand down as Liberal party leader
May 22, 2022 01:29 AM AEST| By Khushboo JoshiHighlights Morrison has stated on Saturday evening that he has ‘accepted’ defeat in the federal elections. Morrison was fighting the elections against Labor party leader Anthony Albanese. Headed by Scott Morrsion, the Liberal-natio...
Why is China moving against the tide in terms of interest rate changes?
May 22, 2022 12:15 AM AEST| By Akanksha VashishtHighlights China’s government has initiated country-wide lockdowns as rising COVID cases spark concerns. Lockdowns across the country have landed major businesses in losses, resulting in shipment delays. The Chinese central bank has rece...
Interest rate hikes and recession: How are they related?
May 22, 2022 12:10 AM AEST| By Akanksha VashishtHighlights Central bankers use interest rates as a tool to boost or control inflation through monetary policy. Higher interest rates discourage borrowing and spending among consumers while removing extra stimulus from the economy. Rapid intere...
Will the RBA go for 40bps cash rate hike as wages growth lags?
May 22, 2022 12:05 AM AEST| By Akanksha VashishtHighlights Tighter labour market conditions helped Australia achieve a wage growth rate of 0.7% in the March 2022 quarter. The latest wage growth data is central to understanding the pace of the Reserve Bank’s interest rate hikes. Expert...
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