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Economy
How Albanese govt plans to breathe new life into Australian economy
June 05, 2022 12:05 AM AEST| By ManishaHighlights Emerging as the winner in the 2022 Australian federal election, the Labor Party has come to power under the leadership of Anthony Albanese. PM Albanese is focused on strengthening Australia’s economy and make the country strong.....
Why is it hard to escape the unemployment trap?
June 04, 2022 12:05 AM AEST| By Akanksha VashishtHighlights The unemployment rate in Australia is at an all-time low, even as Aussies struggle to manage a living. The unemployment trap refers to the situation wherein unemployment benefits appear more economical than working. Unemployed indiv...
How COVID-19 triggered a spike in cybercrimes in Australia
June 03, 2022 06:44 PM AEST| By Aditi SarkarHighlights Any attempt to gain unauthorised access to a computer, computing system or network to harm or cause damage is known as cyberattack During 2020-21, the ACSC received more than 67,500 cybercrime reports Cybercrimes mostly attacked the.....
Will Aussies see higher minimum wages as new government takes charge?
June 02, 2022 02:55 PM AEST| By Akanksha VashishtIt seems the new government has a lot more on its to-do list than the Scott Morrison-led government. One of the most crucial areas of reform for the new government is the labour market. The newly elected Labor government has promised a bump to wage.....
Will the RBA go for aggressive rate hikes as Q1 GDP exceeds estimates?
June 02, 2022 12:46 PM AEST| By Akanksha VashishtHighlights The Australian Bureau of Statistics (ABS) has released the economic growth data for the March 2022 quarter. A higher-than-expected GDP rate signifies that the economic activity has remained buoyant even in times of distress. With th.....
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Here’s why Australian property prices fell for the first time in two years
June 02, 2022 10:55 AM AEST| By Toshiva JainAustralian property prices have fallen for the first time in nearly two years. Wealthy cities like Sydney and Melbourne are facing the strongest decline. Indices show fall in property prices As per two of the nation’s major indices from Cor.....
How is Ukraine crisis impacting Australia's LNG plans?
June 01, 2022 05:22 PM AEST| By Toshiva JainHighlights Post Russian invasion and international sanctions on Russian supply, demand for Australian LNG raised immediately. The country’s main gas fields are far from Sydney and Melbourne, and other big cities in the southeast. Addition.....
Australia's Q1 GDP data out: How is the economy faring?
June 01, 2022 02:55 PM AEST| By Akanksha VashishtThe Australian GDP data for the March 2022 quarter exceeded all expectations, with the latest report from the Australian Bureau of Statistics (ABS) showing that the economy expanded 0.8% during the quarter. In a highly unanticipated turn of events,.....
What to expect from Australia’s Q1 GDP data due tomorrow?
May 31, 2022 04:43 PM AEST| By Akanksha VashishtHighlights The upcoming GDP data for the March quarter is expected to be significantly lower than the previous quarter’s data. Big four banks have projected dismal economic growth figures for the March quarter. Consumer spending has kept.....
More pain ahead for Aussie housing sector as interest rates rise
May 31, 2022 03:52 PM AEST| By Akanksha VashishtThe average Aussie mortgage holder is facing immense pressure as the pandemic-induced economic adversities show no signs of a reversal. Most global economies have emerged out of the economic slump encountered during the pandemic. However, bigger pr.....
Focus on renewables, EVs: Inside Albanese govt climate plans
May 28, 2022 12:36 AM AEST| By Nitish KumarHighlights Australia’s newly elected Prime Minister Anthony Albanese has promised a major crackdown on the country’s carbon emissions. In his election campaigns, Albanese highlighted the drawbacks and inability of the previous regim.....
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 .....
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