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Economy
Report: World’s richest got richer during pandemic
January 18, 2022 12:52 AM AEDT| By Priya BhandariA recent report by Oxfam has stated that the world’s 10 richest people have seen their fortune increase by more than double from US$700 billion to US$1.5 trillion (£1.01 trillion), since the start of the pandemic due to various factors .....
Why China’s GDP numbers are important for Aussie iron ore miners
January 17, 2022 05:55 PM AEDT| By AayushHighlights China will be releasing its Q4 GDP data on Monday at 0200 GMT. Investors will be keenly watching the commodity space, as China’s GDP numbers will be made public. Iron ores price has been rallying since December, now trading ov.....
Why is Australia relaxing border rules despite COVID-19 spike?
January 17, 2022 02:21 PM AEDT| By ManishaHighlights Despite a spike in COVID-19 tally, the Australian government has decided to relax restrictions over movement across borders. The border measures that restricted travellers from highly affected Southern Africa countries to Australia h.....
Djokovic flies out of Australia after court slammed door on him
January 17, 2022 02:16 PM AEDT| By AshishEnding days of drama, tennis superstar Novak Djokovic finally flew out of Australia following a court’s decision to uphold the Australian government's decision to cancel his visa on account of his unvaccinated status. With it, came the e.....
Would Omicron pose any threat to NZ economy?
January 16, 2022 06:00 AM AEDT| By ManikaHighlights New Zealand recorded its first Omicron case in mid-December 2021. Omicron variant has created an uncertainty around the economic situation The Delta variant which was more severe was not as harmful to the NZ economy as suggested. .....
World Bank: Global economic growth to fall to 4.1% in 2022
January 16, 2022 12:06 AM AEDT| By Toshiva JainHighlights Economic growth would fall in 2022 and 2023, according to the World Bank’s recent Global Economic Prospects The GDP fall this year is mainly because of the rise in COVID-19 cases across countries due to the spread of the new v.....
Will RBA follow the US Fed & hike rates?
January 15, 2022 01:28 AM AEDT| By Priyabrata PrustyThe US Federal Reserve (US Fed) could start increasing interest rate as early as March 2022 and shrink its balance sheet in response to increasing inflation, said James Bullard, President, Federal Reserve Bank of St. Louis on 06 January 2022. The .....
Is housing market going to crash in 2022?
January 14, 2022 08:00 PM AEDT| By AayushHighlights The year 2021 had been one of the best years for housing markets across the globe. The exorbitant rise in housing prices could be majorly attributed to the unprecedented monetary stimulus given by central banks. Mortgage loan compan.....
Home loan commitments bounced back in November 2021, says ABS
January 14, 2022 02:18 PM AEDT| By Akanksha VashishtHighlights The easing restrictions prompted borrowers to flock to the banks for new loans, especially for the purpose of housing financing. The momentum in construction is yet to build up, which possibly explains why property prices are going o.....
Will Bank of Canada hike interest rates sooner than expected?
January 13, 2022 08:43 PM AEDT| By Shreya BiswasThe Bank of Canada (BoC) is set to address the country this month-end, on January 26, and some market analysts believe that the top lender will announce raised benchmark interest rates then. The Canadian central bank had decided to lower its inter.....
US inflation is running hot; how it could impact Aussies
January 13, 2022 08:43 PM AEDT| By AayushHighlights Currently, the US inflation stands at 7%, highest since 1982. US is the world’s largest economy and anything that happens there, triggers a ripple effect on several other economies. With the interest rate regime starting to sh.....
Major construction company bites the dust, home buyers left in lurch
January 13, 2022 01:51 PM AEDT| By AshishWith major construction company Tasmanian Constructions announcing that it was winding up, dreams of several home buyers have been shattered. The construction firm led by Craig Graeme Ellis, which owns the Hotondo Homes franchise in Hobar.....
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IMF- emerging economies must prepare for Fed policy tightening
January 13, 2022 07:02 AM AEDT| By Toshiva JainHighlights What happened in 2021 lays a ground for how the market would react amid a pandemic. According to the IMF, the coming months look challenging for emerging economies, keeping in mind factors like elevated inflation and high publi.....
What challenges await Australia's travel sector in 2022?
January 12, 2022 07:21 PM AEDT| By Akanksha VashishtThe travel industry is eagerly awaiting its post-pandemic revolution that could change the game for the industry. Despite many radical changes brought by the pandemic, the travel sector has not seen a significant turnaround amid international borde.....
Aussie jobseekers in for a treat: Vacancies rise 18% despite Omicron
January 12, 2022 03:25 PM AEDT| By Akanksha VashishtHighlights In November 2021, job vacancies rose to 396,000, according to seasonally adjusted data by the Australian Bureau of Statistics (ABS). Experts suggested that rising vacancies would give workers a higher bargaining power as there is a l.....
Will Omicron wave impact 2022 Australian federal election?
January 12, 2022 01:38 PM AEDT| By ManishaHighlights The Omicron variant of COVID-19 has resulted in a worrisome situation for the Australian federal government. The explosion in case tally may cause a hindrance in the smooth conduct of the upcoming general elections in 2022. The wors.....
Which sectors gain from rising interest rates?
January 11, 2022 08:31 PM AEDT| By Akanksha VashishtHighlights While interest rate hikes are largely feared because of the rising cost of borrowing, they can also be beneficial in some way. Since economic recovery from the pandemic has not been even, a rise in interest rates could impact various.....
Why Australian dairy farmers’ wish list should be at heart of 2022 federal election
January 11, 2022 04:22 PM AEDT| By Anam SiddiquiHighlights Infrastructure building and economic recovery have emerged as one of the critical focus areas for the 2022 Australian federal election. ADF has outlined a 2022 federal election policy statement, seeking to secure the dairy industry r.....
Domestic retail trade soars, international trade takes a backseat
January 11, 2022 03:16 PM AEDT| By Akanksha VashishtThe Australian economy seems to be locked in between favourable and challenging conditions ever since the Omicron variant started to spread within the country. This has led to a series of highs and lows for major economic indicators. While retail t.....
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Will Brexit continue to bother UK businesses in 2022?
January 11, 2022 01:01 AM AEDT| By Priya BhandariIt’s been more than a year since the UK left the European Union but its impact on the economy has been a double-edged sword for businesses as trading across the European Union has become very difficult due to various reasons. Before Brexit, .....
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