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Economy
Corona outbreak wreaks havoc on Australia, with retail sales falling 4.4%
November 05, 2021 04:37 PM AEDT| By Aditi SahaThe Corona outbreak has wreaked havoc on Australian retail sales. Lockdowns have been reinstated across Australia due to the Delta outbreak, which erupted in June this year, notably in NSW and Victoria. As a result, stores have&.....
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How global banks can help in controlling greenhouse gas emissions
November 04, 2021 01:22 AM AEDT| By Rishika RainaAmid the ongoing COP26 UN Climate Change Conference being hosted by the UK , hundreds of the biggest banks and pension funds across the globe have come together to mitigate the greenhouse gas emissions with financial assets worth US .....
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95% mortgage: All you need to know
November 03, 2021 11:09 PM AEDT| By Priya BhandariHighlights A 95% mortgage refers to Loan-to-value (LTV) of owning a house, 95% of the house price will be covered by a mortgage, while 5% of the mortgage to be stumped up as a deposit. The government’s Mortgage Guarantee Scheme help.....
What does Australia's Retirement Income Covenant have in store for retirees
November 03, 2021 09:11 PM AEDT| By Akanksha VashishtBig changes lie ahead for the Australian Superannuation fund holders as Australia’s Retirement Income Covenant is set to be effective from July 1st, 2022. Superannuation, or “Super”, as the Aussies call it, is one of the most impo.....
RBA decides to proceed without a yield target
November 03, 2021 05:45 PM AEDT| By Akanksha VashishtHighlights The Reserve Bank of Australia announced that it would discontinue the yield target on the April 2024 bond. Many of the recent instances have warranted the need for an early rate hike including rising inflation and the gradual reopeni.....
Why COP26 Summit is so crucial now
November 01, 2021 11:42 PM AEDT| By Priya BhandariThe COP26 stands for “conference of the parties” under the United Nations Framework Convention on Climate Change, and the summit aims to reach a consensus to implement the 2015 Paris Agreement, where 200 countries around the world agree.....
Could stagflation woes turn up once again for Australia?
November 01, 2021 05:14 PM AEDT| By Akanksha VashishtHighlights Speculation is rife on whether Australia could undergo a spell of stagflation, given the ongoing inflationary pressures. Economies going through stagflation observe increasing unemployment figures and low GDP growth rate at a time of.....
What to expect from RBA policy meet
November 01, 2021 03:06 PM AEDT| By AshishHighlights Following an unexpected jump in inflation, investors and economists are keeping a close eye on the Reserve Bank of Australia’s (RBA) monetary policy meeting on Tuesday. Earlier, the RBA had maintained that it won’t raise .....
Retail trade picks up with reopening of the AU economy
October 29, 2021 06:40 PM AEDT| By Akanksha VashishtHighlights Data by the Australian Bureau of Statistics showed that retail trade rose by 1.3% in September 2021 over the previous month. Varying restriction levels have resulted in differing state-wise retail sales, with Queensland sales r.....
Has COVID-19 pandemic derailed Australia’s economic growth?
October 28, 2021 07:14 PM AEDT| By Akanksha VashishtHighlights According to Treasurer secretary Steven Kennedy, GDP is expected to show a drop of 3% in the September 2021 quarter. The highest GDP drop was of 7%, observed last year during the June quarter when the first wave of COVID-19 had struc.....
Can you give away stocks as donations?
October 28, 2021 05:38 PM AEDT| By Rishika RainaDonating stocks instead of cash is always a better option considering the interest of both parties. A wide range of charities, schools, hospitals, and other non-profit organisations prefer receiving stocks as gift or donation as it provides them wi.....
Autumn Budget: Top 10 expectations from Sunak
October 27, 2021 07:14 PM AEDT| By Rishika RainaHighlights The Autumn Budget is due to be delivered by Chancellor Rishi Sunak at the parliament on Wednesday. The Budget is set to come ahead of a rough winter due to rising fears of inflation and soaring energy prices, which have negativ.....
Australian core inflation rises to its fastest pace since 2015
October 27, 2021 03:42 PM AEDT| By Akanksha VashishtThe Australian Bureau of Statistics has recently released the Consumer Price Index (CPI) data for the September 2021 quarter. CPI is one of the most common tools used to assess inflation levels in an economy, using the prices of household items and.....
Which Australian state has the strongest economy?
October 26, 2021 07:46 PM AEDT| By Akanksha VashishtHighlights Tasmania has been given the title of the best performing state economy for the June quarter by CommSec, under its State of the States report. Tasmania has taken the lead in four indicators: retail spending, job market, construc.....
China plans new property tax; here’s how it may hit Australia
October 26, 2021 01:51 PM AEDT| By AshishHighlights China has announced plans to roll out a pilot real estate tax amid the ongoing rise in real estate speculation across the country. The National People's Congress Standing Committee has provided the nod to the latest plan to promote ".....
Will Aussies sweeten the pot for retailers by shopping big time this Xmas?
October 24, 2021 12:00 AM AEDT| By Anam SiddiquiHighlights The Australian Retailers Association (ARA) and its strategic partner Roy Morgan have projected pre-Christmas spending of AU$58.8 billion for 2021. Retail sales in NSW and Victoria that saw sporadic lockdown throughout the year would .....
UK launches world’s first green savings bond: What the savers can get?
October 22, 2021 10:47 PM AEDT| By Suhita PoddarHighlights The UK launched the world’s first retail green savings bond, issued by the National Savings and Investments The move follows after the UK has raised a total of £16 billion in green sovereign bonds since the last month .....
Why falling inflation is not good news
October 22, 2021 04:52 PM AEDT| By Rishika RainaHighlights UK headline inflation dropped from 3.2% in August to 3.1% in September as per latest ONS figures. In the recent months, inflation has been above the 2% target set by the UK Government, with expectations of hitting 4% by the end of th.....
Lockdowns weighed heavily on business confidence, says NAB
October 21, 2021 09:19 PM AEDT| By Akanksha VashishtIn a series of latest developments reflecting the impact of lockdowns in Australia, business confidence has reportedly declined during the third quarter of 2021. National Australia Bank (NAB) has recently released its quarterly business survey for .....
How are rate hike expectations shaping up in Australia?
October 21, 2021 06:23 PM AEDT| By Akanksha VashishtWith major developed nations moving towards monetary policy tightening, speculations are rife that Australia will also eventually walk on the same path. After maintaining near-zero interest rates for nearly two years, Australia’s economy has .....
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