Annual inflation reaches 3.8% in Australia
Australia’s annual inflation rate rose to 3.8 percent, up from 3.6 percent at the start of the year. Prices rose 1 percent in the June […]
Category: Economy
Why Commonwealth Bank gets $36k fine?
Australia’s popular bank was fined $ 36,000 after acknowledging that he did not pay long-term rights to maintain the staff. The Federal Bank is one […]
Australian dollar falls on fears of China’s slowing economy
The Australian dollar is falling after hitting a six-month high two weeks ago on growing concerns about the economic health of China, Australia’s largest trading […]
Suez Canal revenue decreses
In the most recent fiscal year, the Suez Canal’s yearly revenue decreased by nearly 25% as some shippers chose to use other routes to avoid Houthi attacks in the Red Sea, which are supported by Iran. The head of the Egyptian Canal Authority, Osama Rabie, announced on Thursday that the company’s revenue for the 2023–24 fiscal year dropped to $7.2 billion from $9.4 billion in the previous year. Since November, the Houthis have been attacking commercial vessels in the Red Sea and Indian Ocean to show support for the Palestinian militant […]
Global gas demand to rise by 2.5% in 2024
An analysis predicts that this year’s global gas demand will increase by more than 100 billion cubic meters, or 2.5 percent, primarily due to rapidly […]
Over $500 million in cash is available for NSW residents to claim
Residents of New South Wales are eligible to claim funds totaling more than $500 million. The pile of money, which exceeds $570 million, has been […]
Australia tops global income tax surge
Australians’ personal income tax burden, already the highest in the world, rose faster than any other advanced economy last year, as bracket creep boosted record […]
Australian swimsuit company enters administration for second time
An Australian swimsuit company founded by James Packer’s ex-wife has entered administration twice. At Tigerlily, which model Jodhi Meares first established, administrators have been brought in and out several times. Glenn Franklin and Jason Stone of PKF were appointed jointly on March 4, per records filed with the corporate regulator. Private equity firm Crescent Capital appointed Deloitte to help sell the business last year, three years after Tigerlily emerged from voluntary administration, […]
Australians experiencing personal recession
Mass migration is causing Australians to experience a “personal recession.” According to the Australian Bureau of Statistics (ABS) National Accounts, the country’s economy expanded “a tepid” 0.2% during the last three months of 2023 and 1.5% overall. Economy’s sluggish growth of the country in 2023 was nevertheless a “good sign.” Mr. Milner, GXO Strategies Director, said, “The government hasn’t kept up with the flood gates of migration that they’ve let rip to create 0.2% growth at the end of last year.” In order to escape a technological recession, we have thereby paid a colossal transactional cost of 500,000 more people using our highways, hospitals, schools, and other facilities. That means the Australians are currently going through a personal recession.”
Weekly income of average Australian revealed
According to recent data, the average weekly income for Australians is somewhat less than $2000. In November 2023, the Australian Bureau of Statistics (ABS) reported […]
