Evening report Thursday
The Aussie sharemarket snapped three straight days of gains after the ASX 200 edged lower by 14.9 pts or 0.21 per cent, to 7112.8. Eight of 11 sectors declined, with the Tech sector (down 2.4 per cent) falling the most. The Energy sector however climbed by 1.4 per cent after the price of oil rose…
Private-Sector Economists Panel and Academic Panel
The Reserve Bank has extensive liaison with members of the community and values the insights and understanding this brings. It is seeking to strengthen its existing dialogue with the economics profession. To do this, the Bank is establishing a panel of private sector economists and will hold at least biannual meetings with the panel. It…
5G achievements contribute to global development
In a restaurant in Phuket, Thailand, 5G cloud-based multi-task robots lead guests to their tables to order, and then serve the dishes to them. These robots are made by CloudMinds Robotics, a Shanghai-based tech company which started its cooperation with Thailand’s digital service provider in 2019. Products of CloudMinds Robotics have been replacing human crews…
You may have missed one bandwagon, but there will be more
Financial markets and the real economy march to a different beat. The UK stock market fell rapidly between January and June this year as inflation and rising interest rates moved front of mind, but there had been straws in the wind for months prior to that. The multiple of earnings that investors were prepared to…
Computing power paves way for digital economy transformation
With notable progress made in China’s pursuit of computing power, or the ability to process data, a solid foundation has been laid for its transition to a digital economy. The country’s total computing power scale now ranks second in the world, according to the Ministry of Industry and Information Technology (MIIT). By the end of…
China’s home prices generally stable
China’s home prices in 70 large and medium-sized cities displayed a generally stable trend in July, according to data released by the National Bureau of Statistics (NBS) on Monday. New home prices in four first-tier cities — Beijing, Shanghai, Shenzhen and Guangzhou — edged up 0.3 percent month on month in July, according to the…
Crown Sydney casino – a beacon for potential dirty money
Crown Resorts’ striking new A$2 billion casino on Sydney’s Barangaroo Point opens its doors to gamblers for the first time this week. But only if they are “VIPs”. Its licence to operate remains conditional, after being found unfit to run a casino by the inquiry headed by former Supreme Court judge Patrica Bergin. Victorian and…
What’s causing Australia’s egg shortage?
Australia is experiencing a national egg shortage. Prices are rising and supermarket stocks are patchy. Some cafes are reportedly serving breakfast with one egg instead of two. Supermarket giant Coles has reverted to COVID-19 conditions with a two-carton limit. We became used to grocery shortages throughout the lockdowns of 2020 and 2021. These were due…
Salt caverns and minerals across Australia unlock our nation’s hydrogen industry
Australia has the right ingredients to become a global hydrogen superpower, according to new data from the Australian Government’s Exploring for the Future program. Speaking ahead of Geoscience Australia’s inaugural Exploring for the Future Showcase, Minister for Resources and Northern Australia Madeleine King said scientists had uncovered the potential for large-scale, underground storage of hydrogen…
Qantas’ proposed acquisition of Alliance Airlines
The ACCC has outlined preliminary competition concerns with Qantas Airways’ (ASX: QAN) proposed acquisition of Alliance Aviation Services Ltd (ASX: AQZ) in a statement of issues published today. In Australia, Qantas and Alliance provide air transport services to regional and remote areas for corporate customers. The airlines closely compete in the supply of these services…
