China allocates relief funds for crop pest control
BEIJING, – China has allocated 673 million yuan (about 100.3 million U.S. dollars) worth of agricultural relief funds to support crop pest prevention and control, according to the Ministry of Finance. The relief fund will be used to purchase pesticides and equipment for the prevention and control of major crop diseases and pests to ensure…
home prices continue to ease in May
BEIJING, – China’s home prices in 70 large and medium-sized cities continued the downward trend in May, though the pace of decline slowed, the National Bureau of Statistics (NBS) said Thursday. In May, 43 out of the 70 cities saw a month-on-month drop in new home sales prices, down from 47 in April, data from…
China to support private investment
BEIJING, June 15 (Xinhua) – China will support private investment and take forward projects that deliver multiple effects as part of the efforts to better spur effective investment, consumption and employment, according to a decision made at the State Council’s Executive Meeting chaired by Premier Li Keqiang on Wednesday. The meeting highlighted the imperative to…
CommSec Morning Report Thursday June 16, 2022
Latest news • The US Federal Reserve increased its target range for the Federal Funds rate by 75 basis points (three-quarters of a percent) to 1.50%- 1.75%, the biggest rate hike since November 1994. • In US economic data, retail sales fell by 0.3% in May (survey: +0.2%). Import prices lifted 0.6% in May (survey:…
Allianz and AWP plead guilty to ASIC
Allianz Australia Insurance Limited (Allianz) has pleaded guilty to six criminal charges, and AWP Australia Pty Ltd (AWP) to one criminal charge, of making false or misleading statements. The charges relate to the sale of Allianz domestic and international travel insurance products and statements published online on various domestic, basic and comprehensive travel insurance web…
China’s surveyed urban unemployment rate down to 5.9 pct in May
BEIJING, – China’s surveyed urban unemployment rate stood at 5.9 percent in May, down 0.2 percentage points from April, official data showed Wednesday. A total of 5.29 million new urban jobs were created from January to May, data from the National Bureau of Statistics showed. In May, the surveyed urban unemployment rate among those aged…
ASIC warns on Treasury Bond investment scams
ASIC is alerting investors about the existence of several fake Treasury Bond offers. These are scams. Financial institutions are not authorised to issue Treasury Bonds on behalf of the Australian Government. Legitimate Treasury Bonds are generally bought by consumers through licensed ASX brokers or securities dealers. What to look out for Offers made via links…
CommSec morning report Wednesday
In US economic data, the producer price index (PPI) rose by 0.8% in May to be up by 10.8% on the year (survey: +10.9%). The core PPI (ex-food and energy) rose by 0.5% in May to be 8.3% higher on a year ago (survey: +8.6%). The NFIB small business optimism index eased from 93.2 to…
Avoiding ‘greenwashing’ for superannuation and managed funds
ASIC has released an information sheet to help issuers avoid ‘greenwashing’ when offering or promoting sustainability-related products. The publication will also assist issuers to provide investors with the information they should have to make informed decisions. ASIC considers ‘greenwashing’ as the practice of misrepresenting the extent to which a financial product or investment strategy is…
Evening report Tuesday
The Aussie sharemarket was on track to have its worst day since May 2020 earlier today, but bounced back from its lows this afternoon. The ASX 200 still slumped by 3.55 per cent or 246pts to 6686, dragging the index to a 16-month low in the process. All sectors finished lower for the 14th time…
