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Economy
Why did China’s WeChat delete Scott Morrison’s message?
December 04, 2020 06:16 PM AEDT| By Edita Ivancevicstralia, criticising the Communist party for making such a ‘low’ move. WeChat, a popular Chinese messaging platform, deleted PM Scott Morrison’s message on Wednesday evening after he criticised the Chinese government for postin...
Australia’s retail sales return to growth, rise 1.4% in October
December 04, 2020 01:10 PM AEDT| By Kunal SawhneyAustralia’ retail sales have returned to growth, rising 1.4 per cent in the month of October 2020, seasonally adjusted. The latest figure updates the preliminary result of 1.6 per cent, which follows a decline of 1.1 per cent in the month of .....
How is Australia's property market scenario panning out?
December 04, 2020 12:01 PM AEDT| By Hina ChowdharyHousing prices saw second successive gains in the month of November, according to CoreLogic's national index, following gains recorded in October. The dwelling values have risen 0.8 per cent month-on-month and 3.1 per cent year-on-year. Housing pri.....
ABS data revealed surge in International trade and housing loan commitments
December 03, 2020 08:06 PM AEDT| By Team Kalkine MediaAustralia’s seasonally adjusted balance on goods and services surplus surged A$1,641 million to A$7,456 million in October from the previous month. The surplus stood at A$5,815 million in the month of September. The goods and services credits.....
What will Australia’s housing prices look like in 2021?
December 03, 2020 07:59 PM AEDT| By Edita Ivancevicnificant decline due to fewer international students being allowed to the country. With November marking another record-breaking month for higher house prices, the nation’s real estate market may exceed pre-coronavirus levels. Initially,...
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Superloans warned by the Commerce Commission over possible lending infringements
December 03, 2020 06:25 PM AEDT| By Team Kalkine MediaSuperloans, a former high-cost lender has been cautioned by the Commerce Commission over a possible failure to adhere to its responsible lending commitments after an investigation subsequent to several complaints from consumers, as well as budget a.....
British factories record fastest growth in 3 years
December 03, 2020 06:24 PM AEDT| By Kunal SawhneyThe UK Manufacturing Purchasing Managers’ Index (PMI) climbed to 55.6 in November, up from 53.7 in October, bringing cheer for the sector. However, the downturn in employment for the sector continued for the tenth consecutive month, revealed .....
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NAB Online Retail Sales Index contracts 0.7% in October
December 03, 2020 05:43 PM AEDT| By Hina ChowdharyNational Australia Bank Limited (ASX:NAB) Online Retail Sales Index contracted in the month of October following strong growth in the previous four months. The index shrank 0.7 per cent in October against a growth of 1.2 per cent in September, on a.....
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Earlier vaccine rollout to rev up Australian recovery
December 03, 2020 02:02 PM AEDT| By Hina ChowdharyThe Australian economy has managed to fare well in this stressful time by coming out of its first recession in nearly 30 years. With a GDP growth rate of 3.3% in the third quarter, Australia has started on its journey towards economic recovery. Tre.....
Canada’s GDP Grew 8.9% In Q3 2020: What It Means For Economy?
December 03, 2020 01:56 AM AEDT| By Kunal SawhneyCanada’s real gross domestic product (GDP) increased by about 8.9 per cent in the third quarter of 2020, reported Statistics Canada. This growth comes after a decline of 11.3 per cent in the second quarter and that of 1.9 per cent the.....
Tier-Based System Goes Live, Boris Faces Tory Rebellion
December 03, 2020 01:43 AM AEDT| By Hina ChowdharyThe tier-based lockdown plans proposed by the British Government have finally received the approval from the parliamentarians in the House of Commons on 1 December. The new rules, which were implemented from 2 December, were supported by 291 votes .....
Canada’s New Spending Plan & C$381B Budget Deficit: How Did It Impact Stock Markets?
December 02, 2020 07:50 PM AEDT| By Team Kalkine MediaThe Canadian government published the much-awaited Fall Economic Statement on Monday, November 30, updating its spending plans and COVID-related emergency support measures. The document projected that Canada’s budget deficit could reac.....
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Why is RBA keeping interest rates at a record-low?
December 02, 2020 05:03 PM AEDT| By Edita IvancevicThe Reserve Bank of Australia (RBA) has agreed to retain the record-breaking low interests rates at 0.1 per cent for the remaining weeks of this year. However, the RBA did warn about a slow recovery caused by the coronavirus pandemic. On a Melbour.....
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Australian economy returns to growth in September quarter
December 02, 2020 02:21 PM AEDT| By Hina ChowdharyThe Australian economy bounced out of recession as the economy expanded by 3.3 per cent in the September quarter. The gross domestic product (GDP) growth had contracted 7 per cent in the June quarter, the worst in Australian Bureau of Statistics (A.....
Raising a glass against China: IPAC urges world to drink Australian wine
December 02, 2020 12:51 PM AEDT| By Edita IvancevicInternational parliament members from several political parties have joined forces to “stand against repressive bullying” as a response to China’s raising of wine tariffs for Australia. Several MPs from the Inter-Parliamentary Al.....
Canada To Implement Digital Tax From 2022: What All You Need To Know?
December 02, 2020 02:12 AM AEDT| By Kunal SawhneyCanada will enforce a tax on all digital service providers in the country from January 1, 2022. The amount raised by this digital taxation will boost federal coffers by C$ 3.4 billion in five years. This tax will continue till other countri.....
Main economic boost from vaccines to follow later: BoE
December 01, 2020 10:40 PM AEDT| By Hina ChowdharySilvana Tenreyro, policymaker, Bank of England said that the principal economic boost from the ongoing vaccination progress would only come once the Covid-19 vaccines are rolled out in the market. She added that the BoE needed to watch out for any pr...
Residential real estate regains its shine as house approvals hit a 20-year high
December 01, 2020 07:54 PM AEDT| By Team Kalkine MediaThe Australian Bureau of Statistics (ABS) has released building approvals data for October 2020. The data has been particularly encouraging for private sector houses or residential real estate. On a seasonally adjusted basis, building approvals fo.....
What can Australia do about its relationship with China?
December 01, 2020 07:00 PM AEDT| By Edita IvancevicAs China keeps continuously slamming Australia with additional tariffs on imported products, the land down under needs to think of a way to fight back. Trade experts believe Australia can do a lot more than just pursuing legal actions and taking th.....
RBA Monetary Policy Decision: No Changes to Policy Setup
December 01, 2020 05:41 PM AEDT| By Team Kalkine MediaThe Reserve Bank of Australia (RBA) has decided to maintain its monetary policy stance, with no new changes announced. With a target of 10 basis points for both the interest rate and the yield on 3-year Australian government bonds, RBA continues to.....
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