The Week Ahead
Australia: Spring into ‘economic reporting season’ The focus shifts from the corporate ‘profit reporting season’ to the ‘economic reporting season’. Construction data on Wednesday and business investment figures on Thursday are key inputs to gross domestic product – the main measure of economic growth. The June quarter economic growth data is released on September 7….
China remains attractive to foreign investment
The Chinese market remains attractive to foreign investment, with the continued growth of foreign direct investment (FDI) inflows, a Ministry of Commerce spokesperson said on Thursday. FDI in the Chinese mainland, in actual use, expanded 17.3 percent year on year to total 798.33 billion yuan in the first seven months of the year. In U.S….
Australian gov policy ideas for the Future
Joint media release with Minister for Skills and Training the Hon Brendan O’Connor MP The Albanese Government welcomes the agreement between the Australian Council of Trade Unions and the Tech Council of Australia on a set of principles to support employment growth and skills development in the digital and technology fields across the economy. The…
Plan to boost NEV charging on highways
Authorities released an action plan on Thursday to facilitate the construction of charging infrastructure along highways in a bid to bolster the development of new-energy vehicles. The plan was jointly issued by the Ministry of Transport, the National Energy Administration, the State Grid Corporation of China and the China Southern Power Grid. By the end…
Examination of Modern Manufacturing Initiative grants concludes
An examination of grants awarded by the former Morrison government under the Modern Manufacturing Initiative grants program has concluded. The examination showed that the grants were announced immediately before and during the election campaign. As part of reviewing the MMI program, the following were considered: Existence and appropriateness of grant rules Whether the grant rules…
IKEA to boost investment in China
Global home furnishing giant IKEA said it is committed to long-term development in China and will further increase investment in the Chinese market in the new fiscal year. Ingka Group, the parent group of IKEA, will invest 5.3 billion yuan (about 773.32 million U.S. dollars) in China in the fiscal year from Sept. 1, 2022…
Victorian director sentenced for making a false statement
Timothy Lee Knight of Ivanhoe East, Victoria, has been convicted after pleading guilty to authorising the making of a false or misleading statement to ASIC, contrary to s1308(2) of the Corporations Act. Mr Knight was formerly the director of Knight & Day Eating Pty Ltd (ACN 611 316 333) (deregistered) (KDE) which operated a restaurant…
CommSec morning report Friday
In US economic data, the economy, as measured by GDP, contracted at a 0.6% annualised rate in the June quarter (survey: – 0.7%). Initial jobless claims fell by 2,000 to 243,000 in the past week (survey: 252,000). The Kansas City Federal Reserve manufacturing activity index eased from +13 to +3 in August (survey: +10). European…
Call for submissions on Australia Post price proposal
The ACCC is calling for submissions on Australia Post’s draft proposal to increase the price of its basic postage rate from January 2023. Australia Post proposes to raise the basic postage rate from $1.10 to $1.20, which is also the price to deliver reserved ordinary small letters. Australia Post has also proposed an increase to…
China-Europe freight trains on win-win cooperation
The number of China-Europe freight train trips in 2022 has reached 10,000 on Sunday, 10 days earlier than last year, data from the China State Railway Group Co., Ltd. showed. Offering a reliable channel for trade and economic cooperation, especially during the pandemic, the flagship project for interconnectivity has enhanced regional opening-up, expanded economic and…
