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Economy
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Proportion of payments made using banknotes is declining: RBA
September 04, 2021 12:19 AM AEST| By Priyanka PayalHighlights During the Coronavirus pandemic, the Reserve Bank of Australia highlighted a significant shift to contactless and mobile payments by merchants and consumers. The RBA maintained that the proportion of payments made using banknot.....
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On the runway to Q3 results
September 04, 2021 12:06 AM AEST| By Rini ZachariahHighlights At the end of July, the 2Q GDP data was announced. ABC has also announced the performance of critical variables like retail sales, employment data and loan commitment data. The numbers paint a flimsy picture overall but there .....
Virgin Australia offers business class tickets to vaccinated travelers; check how to win
September 03, 2021 03:23 PM AEST| By AshishHighlights Australians stand a chance to win more than AU$150,000 in prizes as Virgin Australia launched a competition for completely vaccinated people. The rewards include business class flights, lounge memberships, Virgin Australia pyjama set.....
Glum around Australian GDP numbers- recession or rebound in the offing?
September 03, 2021 12:57 PM AEST| By Rini ZachariahAs per the latest release by the Australian Bureau of Statistics (ABS), the June 2021 quarter recorded a 0.7% growth in GDP since the March quarter, when the q-o-q growth was 1.9%. The y-o-y national growth was 9.6%. As per a Reuters poll of econom.....
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Wetherspoons joins the list of firms hit by supply chain crisis in UK
September 02, 2021 04:12 PM AEST| By Nidhi GuptaWetherspoons on Wednesday joined the list of effected firsm as it reported that its Carding and Coors beers are the latest casualty of the supply chain crisis as most pubs are not receiving deliveries. Its brewers, Molson Coors, said that the suppl.....
Australia’s July trade surplus widens to record high
September 02, 2021 02:21 PM AEST| By AayushHighlights Australia’s trade surplus ballooned to a record high of AU$12.1 billion in July 2021. Australia’s exports to China also hit a record high of AU$19.4 billion, reflecting stronger trade relations with China. The country re.....
Heard about Flubot malware? Beware, it can steal your credit card details
September 02, 2021 12:28 PM AEST| By AshishHighlights Australians are battling new malware amid the ongoing coronavirus pandemic. Mobile malware ‘Flubot’ works by sending a message to phone users with an alert for a missed call or a new voicemail. The text message contains .....
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Why should Rishi Sunak think again about pensions triple lock?
September 01, 2021 11:58 PM AEST| By Rishika RainaPrime Minister Boris Johnson and Chancellor of Exchequer Rishi Sunak were seen to be locked in a bitter row as the borrowing costs increase due to the pandemic, leading to fear in the minds of savers regarding the safety of their retirement in.....
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Should the UK government extend furlough scheme beyond September?
September 01, 2021 07:49 PM AEST| By AbhijeetThe unions and firms in the UK want the Furlough scheme, introduced by the Boris Johnson government, to continue to protect workers in industries that were badly affected by the Covid-19 pandemic, as the job subsidy scheme that supported over 11 mi.....
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A look at Australia’s rising property prices
September 01, 2021 05:07 PM AEST| By Sonal SinhaAustralian property prices continue to rise amid rising COVID-19 cases in the Country. According to Media reports, total residential real-estate in Sydney was around AU$2.5 trillion and ~AU$1.7 trillion during the start of 2021. The total property .....
Australia’s June quarter GDP beats expectations; grows 0.7%
September 01, 2021 01:11 PM AEST| By Furquan MoharkanHighlights The GDP for the June quarter has grown 0.7%, 30 bps over expectations, Consumption drove Australia’s growth story. Terms of trade were at record high level. Beating the market expectations, the Australian economy grew by .....
How Brexit has affected the UK banking sector
August 29, 2021 12:40 PM AEST| By Suhita PoddarThe European Banking Authority (EBA), which is the watchdog of the block, has recently stated in its annual survey of bankers earning more than €1 million (£850,000) that the total number of millionaire bankers in the UK has dr.....
Lockdowns hurt Australian retail sales; steepest monthly decline in July
August 29, 2021 12:30 AM AEST| By Team Kalkine MediaThe lockdowns in major cities in Australia continued to bite customers as retail sales in the country fell 2.7% in the month of July 2021. This is the largest monthly fall this year and follows a fall of 1.8% in June 2021, after a rise of 0.4% in Ma...
Australia sees 277,674 business exits amid COVID-19 pandemic
August 29, 2021 12:08 AM AEST| By Furquan MoharkanIn the financial year 2020-21, when the world is grappling with the economic and mental impact of the COVID-19 pandemic, Australia saw 277,674 businesses exiting the trade – the lowest in three years. According to the latest data released by t...
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ANZ anticipates Australian housing prices to increase further in 2021
August 28, 2021 12:39 AM AEST| By Sonal SinhaHighlights Australia and New Zealand Banking Group Limited has projected that the housing prices would increase up to 20% in Australia. In Canberra, Sydney and Hobart, Brisbane and Melbourne, the property prices would increase by 24%, 23%.....
How many international airlines are still flying to Australia?
August 26, 2021 12:54 PM AEST| By AshishEven as the international borders remained closed for passengers for the last many months, a few airlines flew in and out of Australia, benefitting from quarantine-free travel corridors and specially organised repatriation flights. More airlines a.....
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Is it time to update the UK's ancient tax structure?
August 23, 2021 07:01 PM AEST| By Kamalika GhoshThe UK’s Office of Tax Simplification (OTS) is looking to update its centuries old end of the tax year date from April 5 to either March 31 or the end of the calendar year. In June, the OTS published a report, looking at the pros and cons of.....
Should Australia take a leaf out of India’s book to handle economy amid COVID-19?
August 23, 2021 12:10 PM AEST| By Furquan MoharkanBack in November 2018, when Australian Prime Minister Scott Morrison and Indian Prime Minister Narendra Modi adopted the India Economic Strategy 2035 at Hotel Amora Jamison in Sydney, an excited Mr Morrison spent a considerable part of speech on his...
Are NZ retail companies feeling the heat of level 4 lockdown?
August 21, 2021 06:00 AM AEST| By RomaHighlights Retailers are concerned about the new Delta variant, which is potentially more transmissible. The government urged to clarify what qualifies as an essential service, amidst the Level 4 lockdown announcement. Prime Minister says it i.....
The week ahead: Key economic events to watch
August 20, 2021 06:43 PM AEST| By Team Kalkine MediaHighlights The recent wave of the Delta variant has posed a significant roadblock in the path to global economic recovery. The key economic announcements lined up ahead would provide better insight into how world leaders are planning to fight t.....
