Roundtables to discuss jobs, skills challenges
The Minister for Industry and Science, the Hon. Ed Husic MP, will host a series of roundtables this week with industry leaders to discuss the economic and employment challenges they face, particularly the national shortage of skilled labour. The roundtable to be held will cover: artificial intelligence (Friday 19 August). The input from these roundtables…
Smaller telcos continue to increase broadband market share
Smaller broadband providers increased their market share in the NBN wholesale market in the June quarter 2022, and a record number of telcos now have their networks connected to the NBN at all of the available physical locations, the ACCC’s latest NBN Wholesale Market Indicators Report reveals. The report looks at the wholesale market for NBN services,…
China’s air cargo traffic back to normal
China’s air cargo traffic has returned to normal recently after posting a V-shape recovery in the first half of this year, a civil aviation official said Thursday. In July, the civil aviation industry transported a total of 539,000 tonnes of cargo and mail, an increase of 28.3 percent compared with April, Liang Nan, director of…
Oil, gas output hits record high
China’s oil and natural gas output hit a record high in the first seven months of 2022, helping to buoy economic development and meet people’s living needs, the National Energy Administration said Thursday. Crude output rose 3.7 percent year on year to 120 million tonnes from January to July, while natural gas output increased 5.4…
CommSec Morning Report Friday
In US economic data, claims for unemployment benefits (initial jobless claims) fell by 2,000 to a downwardly-revised 250,000 in the past week (survey: 265,000). Existing home sales fell by 5.9% in July to a 4.81 million annualised rate (survey: 4.89m). The Philadelphia Federal Reserve manufacturing index rose from -12.3 points to +6.2 points in August…
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…
