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Economy
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Bank of England hikes interest rates for first time in pandemic era
December 17, 2021 01:15 AM AEDT| By AbhijeetThe Bank of England, on Thursday, 16 December, in its terminal Monetary Policy Committee (MPC) meeting for 2021, raised the key lending rates by 15 basis points, surprising everyone as it is the first major central bank to raise the interest rates .....
What does Frydenberg’s MYEFO say on the Australian economy?
December 16, 2021 04:56 PM AEDT| By Sukriti NairHighlights Mid-Year Economic and Fiscal Outlook (MYEFO) is out today. Treasury updates on million new jobs and wage rate forecasts. The Mid-Year Economic and Fiscal Outlook (MYEFO) revealed a recovery from COVID-19 recession. The MYEFO bud.....
Australia’s housing market strength reflecting in household wealth
December 16, 2021 04:32 PM AEDT| By DaminiHighlights Australia’s total household wealth surged by 4.4 per cent in the September 2021 quarter. The uptick in household wealth was primarily driven by a rise in residential property prices. Australia records the highest annual sales .....
Easing lockdown restrictions bring improving employment conditions for Australia
December 16, 2021 02:22 PM AEDT| By Akanksha VashishtHighlights The latest data from the ABS suggests an improvement in labour market recovery in November. As businesses resumed operations in a slowly opening economy, the labour market recorded an increase in employment numbers. Slowly rising wa.....
Apple becomes world's first $3 trillion market cap company
December 15, 2021 04:16 AM AEDT| By Rupam RoyApple crossed the market capitalization of US$3 trillion Tuesday, December 14, after an astonishing run over the past decade, marking itself as the world's most valuable company. The iPhone manufacturer hit US$3 trillion from US$2 trillion in market...
How COVID-19 pandemic impacted working arrangements in labour market
December 14, 2021 07:58 PM AEDT| By Akanksha VashishtHighlights The work from home setup has considerably increased over the past year as the businesses redefine working arrangements. Employee earnings have risen, though many jobs have been lost in the casual labour market segment. The los.....
Australia records low overseas travel in October, travel stocks slump
December 14, 2021 04:09 PM AEDT| By Akanksha VashishtHighlights The Australian Bureau of Statistics (ABS) has released the overseas travel data for October 2021. Western Australia is expected to open interstate and international borders from 5 February 2022. Stocks of major travel players were d.....
Australia beefs up its army, inks AU$1 billion deal with S Korea
December 14, 2021 03:26 PM AEDT| By AayushHighlights Australia has signed a AU$1.01 billion defense deal with South Korea. Under the defence deal, South Korean company Hanwha will provide artillery weapons, radars and vehicles to the Australian army. Earlier, Australia has announced t.....
Qantas (ASX:QAN) eyes major aircraft fleet overhaul; details here
December 13, 2021 03:49 PM AEDT| By AshishDespite being battered by COVID-19 induced travel restrictions, Qantas Airways Ltd (ASX:QAN) is all set for a multibillion-dollar facelift. Aiming to spruce itself up for future, the airline company is about to close a deal to overhaul its domestic.....
More tax cuts in store for Aussies?
December 13, 2021 02:40 PM AEDT| By AayushMore tax cuts could be on the cards as the Australian government increases its economic support amid border reopening. However, Treasurer John Frydenberg refrained from making any specific comments about the same. Talking to Today show, Frydenberg.....
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Business sentiment improves: Will it reflect on the stock market?
December 11, 2021 12:47 AM AEDT| By Sreenivas D AjankarHighlights The business confidence in the UK economy rose for the second consecutive month in November 2021. The rise in UK business sentiments and employment indices in recent months is positive news for the UK stock market, indicating a r.....
IMF's Gita Gopinath warns Omicron may cost global economy extra AU$7 trillion
December 10, 2021 12:56 PM AEDT| By AshishThe International Monetary Fund (IMF) has warned that the COVID-19 pandemic could turn out to be far more costly than estimated. The latest coronavirus variant Omicron could cost the global economy an additional US$5.3 trillion (AU$7.4 trillio.....
New Covid checks: UK govt works on Plan B to control Omicron variant
December 09, 2021 09:28 PM AEDT| By Priya BhandariFollowing the emergence of new Omicron variant, the Boris Johnson government has announced new measures to prevent the spread. It has decided to reintroduce the new COVID measures in England and UK travel, which will come into force in various stag.....
Is the RBA's latest cash rate decision justified?
December 09, 2021 06:45 PM AEDT| By Akanksha VashishtHighlights RBA’s decision to keep the cash rate at ten basis points did not come as a surprise. The Omicron variant is the new source of uncertainty for the RBA, which could hamper the economy’s strong rebound. Now that the RBA has.....
Is the Australian labour market recovery losing momentum?
December 09, 2021 04:22 PM AEDT| By Akanksha VashishtHighlights The latest data from the ABS suggests a slowdown in payroll jobs growth in early November. The payroll jobs recovery decelerated following strong growth in the second half of October. It remains to be seen if the new Omicron variant.....
Stunning revelations about JobKeeper payments in ASIC report
December 09, 2021 01:14 PM AEDT| By ManishaThe facts and figures running down the lines of the recent JobKeeper Report have blown the gaff behind hefty payments to big businesses. The recently released report by the Australian Securities and Investments Commission (ASIC) has revealed that b.....
Will Omicron variant derail Australia's economic recovery?
December 07, 2021 09:41 PM AEDT| By Akanksha VashishtWhile the Omicron variant has caused much stir across different parts of the globe, Australian policymakers continue to debate whether its impact will be damper relative to the Delta variant. The new variant has hit the country at a time that was s.....
When will RBA raise interest rates? Here's what Westpac says
December 07, 2021 12:20 PM AEDT| By AshishHighlights Analysts expect the RBA’s meeting on Tuesday to be a non-event. The RBA may maintain status quo on rates for some more time before moving from the record low of 0.1%. It also expects the rising housing prices to come down afte.....
What to expect from RBA’s monetary policy meet this week?
December 06, 2021 05:03 PM AEDT| By Akanksha VashishtAs the Reserve Bank of Australia’s (RBA) last monetary policy meet for the year is approaching closer, a wave of new forces has seeped into the economy that may influence the policy decision. This includes the influx of the Omicron variant an.....
2021 saw more women filling up ASX boards; here’s what changed
December 06, 2021 03:37 PM AEDT| By AshishIn what sounds like a resounding thud of Australian women shattering the proverbial glass ceiling, Australia is now one of the three countries globally to have female representation of over 30% on top company boards without gender quotas. Over the .....
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