IMF approves $US1.4bn for Ukraine
LVIV, RAW – The International Monetary Fund (IMF) has approved $US1.4 billion ($A1.9 billion) in emergency support for Ukraine to finance expenditures and shore up the balance of payments, Central Bank Governor Kyrylo Shevchenko says. Ukraine has turned to financing from allies and international institutions to support its economy after the Russian invasion began on…
Wall Street rebounds on bank, tech boost
NEW YORK, RAW – Wall Street’s main indexes have rallied as investors pile into banking and technology sectors that have suffered sharp losses this week on concerns about the fallout from the Ukraine crisis, with sentiment lifted by a fall in oil prices. Ten of the 11 major S&P sectors advanced in early trading. Financials…
RBA stays focused on lower jobless rate
CANBERRA, AAP – Reserve Bank of Australia governor Philip Lowe concedes there are risks to the economy by delaying a rise in interest rates at a time when inflation is accelerating. But he says there is also a risk of moving too early. “Australia has the opportunity to secure a lower rate of unemployment than…
Best day for ASX200 in three weeks
SYDNEY, AAP – Shares on the Australian market had their best day in three weeks despite oil and gas boycotts of Russia and a warning of higher inflation. A broad-based rally on Wednesday produced gains of more than one per cent after a three-day losing streak. The US declared a ban on Russian oil imports…
Fee hunters drawn to $1.6b in flood claims
CANBERRA, AAP – Insurance claims from the ongoing flood disaster have topped $1.6 billion, and “claims farmers” are scouting for lucrative fees from victims. Some 107,844 claims have been made so far in South East Queensland and New South Wales, the Insurance Council of Australia said on Wednesday. Based on previous flood events the estimated…
ASX gains after energy prices fall
SYDNEY, AAP – Australia’s share market was following world markets higher after the United Arab Emirates pledged to provide more oil to overcome boycotts of Russian supply. The ASX was up 0.77 per cent on Thursday as traders responded positively to the UAE pledge and oil prices dropped substantially, albeit from lofty heights. The UAE’s…
Climate change drives up food prices
SYDNEY, AAP – Australians can expect more expensive groceries and more empty supermarket shelves thanks to climate change, according to new research. The Fork in the Road report released on Wednesday by Farmers for Climate Action looked at the impacts of climate change on Australia’s food supply, following recent supply chain issues which have left…
Rate rise plausible this year: RBA’s Lowe
CANBERRA, AAP – Reserve Bank of Australia governor Philip Lowe says it is plausible that the cash rate will be increased later this year. Addressing a business conference on Wednesday, he said he recognised there is a risk of waiting too long before lifting the rate from a record low 0.1 per cent against the…
Apple adds 5G to new budget iPhone
SAN RAMON, PAA – Apple has unveiled a new version of its budget-priced iPhone that’s capable of connecting to ultrafast 5G wireless networks, an upgrade that has already been available on the company’s upscale models for more than a year. The latest iPhone SE marks the first upgrade to the bare-bones version of Apple’s most…
Wall St ends lower in rocky session
NEW YORK CITY, RAW – Major US stock indices have ended lower in rocky trading as investors weighed fast-paced developments around the crisis in Ukraine as the United States banned Russian oil and other energy imports over the invasion. Losses accelerated into the end of Tuesday’s up-and-down session, a day after steep declines that confirmed…
