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Economy
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Is Australia also staring at a housing crisis, will RBA impose lending restrictions like NZ?
February 23, 2021 12:49 PM AEDT| By Manikaedia.com/storage/uploads/original/1614045223_60346027d5526_mceclip0.png" /> After the Reserve Bank of New Zealand (RBNZ) took steps to cool off the property market and reinstate lending restrictions for property investors, Australia is also closel...
Vaccines to inject optimism in world economy, IMF pegs US growth at 5.1%
February 17, 2021 10:20 PM AEDT| By Team Kalkine Mediaed to show staggering improvement due to potential structural changes in the economy. Nations across the globe are on the mend as they have begun neutralizing the devastating effects of the pandemic left behind on the economy as well as on finan...
US Dollar drops to 3-week low as vaccine optimism abounds
February 16, 2021 12:16 AM AEDT| By Team Kalkine Mediasignificantly as it rose to its highest level in about three years pushing past USD1.39. Tuesday marked a three-week low for US Dollar and a three-year high for Sterling as news surrounding the vaccine injected optimism into investors. The Brit....
Why is Mastercard supporting cryptocurrencies on its network?
February 11, 2021 09:13 PM AEDT| By Team Kalkine MediaCredit card payments company Mastercard (NYSE: MA) announced that it would allow cardholders to transact using some cryptocurrencies on its platform starting later this year. The financial services giant is the latest in various other companies to .....
US Consumer Prices Rise as Gasoline Cost increases
February 11, 2021 02:48 AM AEDT| By Team Kalkine MediaSource: Ksw Photographer, Shutterstock Summary US consumer prices rose by 0.3 percent in January due to rising fuel cost. Besides food and oil, prices for clothing, medical care, renting, and car insurance also increased. Gasoline prices rose...
US Consumer Sector Hopes for 2021 comeback Amid Dark Covid Cloud
February 11, 2021 02:04 AM AEDT| By Team Kalkine MediaSource: insta_photos, Shutterstock Summary More and more people buying daily essentials directly from stores as restrictions ease Stocks of consumer staples and durables see impressive gains Trend likely to continue as the pandemic situa...
Huawei Moves Court against US Designation as National Security Threat
February 10, 2021 02:59 AM AEDT| By Team Kalkine MediaSource:Worchi Zingkhai, Shutterstock Summary Huawei files lawsuit in US court to overturn national security threat designation. Company profits drop by 40 per cent following US ban. US officials accuse Huawei of spying, stealing sensitive tec...
RBNZ reinstates lending restrictions to resolve NZ housing crisis
February 09, 2021 08:18 PM AEDT| By Team Kalkine MediaNew Zealand’s Central Bank (RBNZ) has finally intervened to find a solution to the housing market crisis. RBNZ decided to reimpose mortgage lending restrictions of pre-COVID-19 levels from March 1 and tighten them further from May 2021. This.....
US Unemployment Rate Fell 6.3% in January as Hiring Picks Up
February 06, 2021 02:44 AM AEDT| By Team Kalkine Mediaanxious on Congress pending verdict on Biden’s USD 1.9 trillion relief plan. US unemployment rate fell to 6.3 per cent in January as employers resumed hiring, but the job market would still take time to nurse back to health fully. Accordi...
Positive Labor Report lifts hopes of US Economic Recovery
February 05, 2021 04:42 AM AEDT| By Team Kalkine MediaSource:wrangler, Shutterstock Summary US Labor Department reports a third consecutive decline in unemployment benefits claim. The current number is still higher than the previous figures recorded since 1967. The job market is expected t...
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Construction sector in the driver’s seat as employment rises in NZ
February 04, 2021 01:38 PM AEDT| By Kunal SawhneyLabour market is slowly coming out of the shadow of COVID-19 pandemic. Employment is seen picking up in New Zealand as the unemployment rates dropped to 4.9% in the quarter ended December 31,2020 as against 5.3% in the previous quarter of September.....
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Why NZ’s Q4 2020 new home approvals are in record numbers
February 04, 2021 12:50 PM AEDT| By Kunal SawhneyResidential construction continues to be on a rise. New homes consented reached a record high in Q4 of 2020. As per Stats NZ, 11,291 new homes were consented in the fourth quarter of 2020, beating the earlier record of 10,713 set in December 1973......
Why private house approval hit a new high in December 2020
February 03, 2021 01:38 PM AEDT| By Team Kalkine MediaThe private sector house approvals surged for the sixth straight month in December and hit a record high amid robust demand due to stimulus measures and low-interest rates. While the approvals for private houses jumped 15.8 per cent in December, dw.....
New Zealand’s trade balance positive for first time in 10 years
February 01, 2021 12:23 PM AEDT| By Mark O'DonnellThe value of imports that made into New Zealand in 2020 was $7.4 billion lower than in 2019. Total imports fell from $64.4 billion to $57.0 billion as supply chains were disrupted by COVID-19 and demand in NZ for exports dropped as well. Goods tha.....
Republicans Downsize Biden’s Covid Package to USD 618 Billion
February 01, 2021 04:38 AM AEDT| By Team Kalkine MediaSource:bluebay, Shutterstock Summary Senate Republicans propose USD 618 billion in a toned-down version of Biden’s USD 1.9 trillion stimulus plan. Republicans exclude funding for state governments and local government and minimum wage hi...
US Economy Sees Largest Decline Since WWII But Recovery On Track
January 29, 2021 02:34 AM AEDT| By Team Kalkine MediaSource: Natee K Jindakum, Shutterstock Summary US economy contracts by 3.5 percent in 2020, biggest plunge since WWII. Number of jobless claims reduced to 847,000 in the week ending January 23. The International Monetary Fund (IMF) forec...
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Auckland’s average Housing rent expected to crack $600 per week
January 28, 2021 12:56 PM AEDT| By Mark O'DonnellAccording to latest report, the average Auckland rent increased to $595 per week in December 2020. This represents a 2.1% increase on the average rent a year prior, or an extra $12 a week. Rent freeze comes to an end The government initiated a re.....
Brexit rules prompt Amazon to restrict alcohol sale in Northern Ireland: Report
January 28, 2021 02:18 AM AEDT| By Kunal SawhneyUK-based broadcaster ITV PLC (LON: ITV) reported that US multinational company Amazon has stopped the sale of beers, wines, and spirits in Northern Ireland because of the new Brexi.....
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Why Australia’s consumer prices climbed in December quarter
January 27, 2021 01:47 PM AEDT| By Hina ChowdharyThe consumer prices soared 0.9 per cent in the December quarter even as the Australian economy suffered the economic fallout from the COVID-19 pandemic in 2020. In the September quarter, inflation stood at 0.7 per cent. Image Source: Shutt.....
Biden eyes long-term gain over short-term pain from drilling freeze
January 27, 2021 02:15 AM AEDT| By Team Kalkine Media9 percent of the total Industry weighs legal options to reverse order President Joe Biden’s order to halt new oil and gas leasing on federal land will have a rippling effect on the industry but it is part of his larger plan to make the U....
