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Economy
Use of cash by Kiwis is fast declining, RBNZ Survey shows
March 02, 2022 06:49 PM PST| By ManikaHighlights Cash use by New Zealanders has declined sharply during the pandemic Only 63% use cash as against 96% in 2019 The number of Kiwis using cash is declining sharply, according to a new survey by the Reserve Bank of New Zealand (RBNZ.....
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Will industry-wide sanctions be able to cripple Russian economy?
March 02, 2022 02:43 AM PST| By Sreenivas D AjankarHighlights Lots of sanctions have been imposed on Russia by several countries like the US, European Union, Australia, and the UK. Economic sanctions have become the most preferred tool to overcome geopolitical tensions and hurt the country&rsqu.....
Russia-Ukraine war impact on Asian economies
March 01, 2022 11:59 PM PST| By Toshiva JainHighlights The day Russia invaded Ukraine, stock prices in Asian countries experienced a steep fall. Russia is amongst the largest oil and natural gas producer, and the majority of the Asian nations depend upon the country for energy. Apart fr.....
Business confidence slumps on Omicron worries: ANZ Survey
February 27, 2022 07:54 PM PST| By ManikaHighlights Business confidence dips to 28 points Reflection of worries related to Omicron impact February is ninth straight month when business confidence was in negative Business confidence slumped in the month of February as Omicron imp.....
NZ to have quick rate hikes, signals RBNZ Governor
February 24, 2022 07:03 PM PST| By Team Kalkine MediaHighlights The Central Bank faces a tough choice of tackling inflation amid the pandemic. Some critics say that the Reserve Bank is moving too slow. An ANZ economist says it is a difficult balancing act. New Zealand central bank Governor .....
Average full-time earnings soared in 2021. Are good days back for Aussie job seekers?
February 24, 2022 12:25 AM PST| By Akanksha VashishtAustralia seems to be in the middle of a widespread economic resurgence as major economic indicators have been showing considerable improvement in recent months. The economic revival is also evident in the labour market, which is slowly recouping t.....
Can Russia’s attack on Ukraine impact Canada's economy & trade?
February 23, 2022 09:01 AM PST| By Kajal JainPeople around the world have woken up to the news of Russian President Vladimir Putin ordering a “full-scale invasion” of Ukraine — a move that could mark the inception of a war in Europe. The so-called "special military op.....
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New Zealand central bank raises OCR by 25 bps, says more tightening ahead
February 22, 2022 10:00 PM PST| By ManikaHighlights The Central Bank lifts the OCR by 25 bps. Forecasts OCR to reach above 3.25% by 2024. Agrees to reduce the stimulus to maintain prices and provide employment. The Central Bank finally delivered an expected outcome by raising...
Monetary Policy Review: Will RBNZ hike OCR by only 25 bps today?
February 22, 2022 05:03 PM PST| By ManikaNew Zealand’s central bank is all set to announce its monetary policy review in which it is expected to increase OCR for the third time in a row. According to most economists, the Reserve Bank (RBNZ) is likely to hike OCR by 25 bps but .....
Decoding the World Development Report 2022
February 22, 2022 10:02 AM PST| By Toshiva JainHighlights The World Bank affirmed the significance of corrected financial measures for an equitable recovery. In the pandemic, economic activities of over 90% of the countries have contracted. Significant consequences are borne by the emergin.....
What does Russia-Ukraine conflict mean for world economy?
February 18, 2022 07:00 AM PST| By Toshiva JainIn late January 2022, Russian forces were deployed along the Ukrainian border. Till now, the conflict hasn’t been resolved. While the world economy trembles under the effects of the Covid-19 pandemic, Russia’s evasion is just another na.....
US weekly jobless benefit claims surge, housing starts decline
February 17, 2022 11:16 AM PST| By Rupam RoyHighlights US unemployment benefits claims increased by 23,000 in the previous week. In January, homebuilding permits increased by 0.7%, the highest level since May 2006. Home-building permits increased by 0.7% in January, the highest .....
Economies with record-breaking inflation
February 15, 2022 12:54 AM PST| By Toshiva JainHighlights The Consumer Price Index (CPI) for a large variety of goods and services across most countries is climbing faster than expected. The primary causes for such a high price level are the skyrocketing prices of oil and gas and supply-cha.....
Crude oil hits fresh seven-year high amid Russia-Ukraine tension
February 13, 2022 07:00 PM PST| By Arpit VermaHighlights Crude oil prices rose on Monday. The comments from the US about a forthcoming attack by Russia on Ukraine have shocked the worldwide financial market. A significant drop in the US crude inventories has also added pressure on the sup.....
How Labor pip Liberals to pass religious discrimination bill
February 11, 2022 06:19 AM PST| By Bhawna GuptaHighlights The contentious religious discrimination bill was passed by the lower house on Several Liberal MPs crossed the floor against the government to pass the bill. The new version of the bill is moved to the Senate now. After m.....
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Rising shipping costs affecting UK businesses
February 11, 2022 05:15 AM PST| By Priya BhandariHighlights Labour shortages, Covid restrictions, and strain on logistics networks led to a rise in shipping costs and significantly lengthened delivery times. The widespread disruption in the supply chain has affected the UK and other eco.....
Can China’s zero-Covid curbs hurt global growth?
February 11, 2022 12:06 AM PST| By Toshiva JainLike many other nations like Australia and New Zealand, China adapted the “zero-Covid” policy as the deadly COVID-19 pandemic entered our lives. However, most countries suspended the policy and moved ahead with the upliftment of restric.....
US investors switch to dividend funds, dump bonds
February 09, 2022 11:18 AM PST| By Sanjeeb BaruahUS investors are picking up dividend funds as they seek an alternative to the bond market amid rate fears, Reuters reported. The market worries have deepened, fuelled by record-high inflation. Economists expect the latest CPI data due later this w.....
Consumer spending down due to Omicron, but things are looking positive
February 08, 2022 01:33 AM PST| By Sukriti NairHighlights Omicron has caused significant decline in household spending. Inflation and higher labour costs have impacted business conditions in Australia. Economists believe the impact of Omicron is lesser in comparison to previous COVID-19 va.....
US renews calls on China to fulfil Trump-era trade commitments
February 07, 2022 07:38 PM PST| By Sanjeeb BaruahUS officials on Monday renewed calls on China to fulfill its promises made in a trade pact with than Trump administration to buy US$200 billion worth of American goods, Reuters reported. The officials asked China to take "concrete action" to meet .....
