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Economy
Why sending parcels may cost Aussies more?
June 15, 2022 06:31 PM AEST| By Akanksha VashishtHighlights Postal service providers, including Australia Post, have announced massive bumps to their surcharge fees. High fuel and transportation costs emanating from Russia-Ukraine war have made things tougher for postal service providers. Th.....
Fair Work Commission’s minimum wages decision: Key takeaways
June 15, 2022 05:15 PM AEST| By Akanksha VashishtAustralia’s Fair Work Commission (FWC) has announced a higher-than-expected hike in minimum wages on June 15. An annual wage hike of 5.2% has been declared, which is at par with the annual inflation rate of 5.1%. The move is expected to offer.....
Why are job seekers worried about new point-based system to receive JobSeeker payment?
June 15, 2022 11:05 AM AEST| By Akanksha VashishtMajor changes have been recently announced to Centrelink’s Jobseeker program, bringing a new wave of concern for Aussies. The new Points Based Activation System (PBAS) will soon be introduced for the workforce, which will replace the existing.....
UK economy contracts by 0.3% in April: What lies ahead?
June 14, 2022 03:50 PM AEST| By Abhishek SharmaHighlights The UK economy shrank by 0.3% in April, the latest data from the ONS revealed on Monday. This is the first time that all main sectors - services, production, and construction – have seen negative growth since January 2021. .....
How come Canberrans' electricity bills fall while most Aussies' see power bills soaring
June 13, 2022 12:56 AM AEST| By Toshiva JainElectricity prices are skyrocketing in Australia. There are a couple of reasons behind the massive increase in power bills, such as the Russian invasion, lasting effects of La Nina, crunch in domestic gas supply, and most importantly, years of negl.....
Inflation worries: OECD asks NZ government to take targeted action
June 12, 2022 06:00 AM AEST| By ManikaHighlights The OECD released its report on Thursday Says the New Zealand government needs to do more to curb inflation The OECD paints a gloomy picture of inflation globally An Organisation for Economic Cooperation and Development (OECD) .....
Is Australian economy facing a wage-price spiral?
June 12, 2022 12:00 AM AEST| By Akanksha VashishtThe Australian economy is facing challenges from multiple directions. High inflation, rising interest rates and a decline in real wages have clouded the country’s economic outlook. These factors together have created a highly volatile environ.....
How much Australian property prices can fall if rates keep rising?
June 11, 2022 12:05 AM AEST| By Akanksha VashishtHighlights The Australian property prices have been declining amidst a fall in housing demand. The RBA’s larger-than-expected June rate hike has caused a massive stir in the economy, including a shock to the housing sector. The RBA recen.....
Should Australia be worried over World Bank's latest stagflation warning?
June 09, 2022 02:33 PM AEST| By Akanksha VashishtHighlights The World Bank has recently downgraded the global economic outlook and warned of a potential return of "stagflation". The OECD believes that the present economy is better equipped to handle pressures. Australia’s economic grow.....
What another 50bps hike in interest rate means for mortgage holders?
June 08, 2022 02:55 PM AEST| By Akanksha VashishtHighlights The RBA raised interest rates to 0.85% in June after its first hike in May. The latest interest rate hike is expected to hurt mortgage owners, with people from Western Australia facing the toughest conditions of all. Big four banks .....
Inflation higher in NZ than Australia: Check out responses of central banks
June 08, 2022 10:51 AM AEST| By ManikaHighlights Annual inflation is higher in New Zealand as compared to Australia Prices are rising in Australia significantly of late A wide gap between central banks’ monetary policy responses Annual inflation in the year to the March.....
After no-confidence vote, Boris Johnson pledges to focus on UK's economy
June 07, 2022 07:44 PM AEST| By Abhishek SharmaHighlights Prime Minister Boris Johnson on Monday won a no-confidence vote by a narrow margin. He now faces political uncertainty as 41% of his own colleagues voted to oust him. British Prime Minister Boris Johnson on Monday survived a no.....
RBA stuns Aussies, lifts cash rate by 50bps
June 07, 2022 04:55 PM AEST| By Akanksha VashishtHighlights The RBA has increased the cash rate target and interest rate on Exchange Settlement balances by 50 basis points each. The central bank has cited growing inflation as the primary reason behind the larger-than-expected rate hike. The .....
Half a million Aussie motorists to get AU$750 cash rebate amid rising tolls
June 07, 2022 02:13 PM AEST| By Akanksha VashishtHighlights NSW government intends to lessen the burden of Sydney’s tolls by offering cash rebates of AU$750 each year to drivers. The existing model has been deemed to be less fair. A distance-based approach was proposed by Premier Perro.....
What does the latest NSW voluntary assisted dying legislation mean?
June 06, 2022 06:32 PM AEST| By Aditi SarkarHighlights Assisted dying service involves giving medication to end the life of a person who is suffering from an unbearable terminal illness and upon the person’s own will Recently, the Parliament of New South Wales (NSW) passed a bill o.....
Australia's new cabinet has record number of women!
June 06, 2022 03:47 PM AEST| By Toshiva JainHighlights Among 23 members of the newly formed Australian cabinet, 10 are women. Eminent appointments include Penny Wong as Foreign Minister, Claire O'Neil for the post of Home Affairs and Cyber Security Minister, Katy Gallagher being Finance .....
RBA to lift cash rate on Tuesday: What to expect?
June 06, 2022 02:19 PM AEST| By Akanksha VashishtHighlights The Reserve Bank is expected to conduct its second interest rate hike in the June monetary policy meeting. Inflationary pressures have taken a toll on households, with little relief offered through wages growth. Market expectations .....
How does Labor plan to help first home buyers?
June 05, 2022 12:10 AM AEST| By Toshiva JainThe Labor party has taken over as the new federal government of Australia and people now wonder how the financial and social strategies are going to be. With the election fever finally over, Australians wait to see whether the government will.....
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...
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