What we know so far about federal budget
CANBERRA, AAP – FEDERAL BUDGET – WHAT WE KNOW SO FAR: THE BIG PICTURE * With the COVID-19 pandemic, flooding and Ukraine-Russia war creating headwinds, Treasurer Josh Frydenberg is emphasising the theme “economic strength is the foundation of national security”. * Economists expect a budget deficit slightly better than the $98.9 billion estimated in the…
NT campaign to lure International workers
DARWIN, AAP – The Northern Territory is rolling out the red carpet to international workers to help fill critical labour shortages. A new global advertising campaign will launch on March 24 in a bid to lure skilled and semi-skilled workers to the territory. The automotive, hospitality, education, aged care and disability services sectors desperately need…
All eyes are looking toward the March FOMC meeting
Markets Asia looks to open higher after US equities found some early footing on Tuesday, despite the widespread weakness overseas, which helped fuel a broad rebound ahead of Wednesday’s FOMC announcement. Volumes were understandably light, along with a low appetite to outlay new risk into today’s main event. The SPX buy the dip thesis could…
No fear of US rate hike as ASX rallies
SYDNEY, AAP – Australian shares rose for a second consecutive day and the Australian dollar jumped as investors tipped the Reserve Bank to follow the US Federal Reserve and increase rates. The Australian market was more than one per cent higher on Thursday after world markets responded well to the US central bank’s modest rate…
Economy slowly recovering from Omicron
CANBERRA, AAP – The Australian economy is heading back to its long-term trend after being hit by the COVID-19 Omicron variant in the early stages on 2022. The Westpac-Melbourne Institute leading index, which indicates the likely pace of economic activity three to nine months into the future, rose from minus 0.5 per cent in January…
Qld offers $3000 electric vehicle subsidy
BRISBANE, AAP – Queenslanders will be offered a $3000 subsidy if they buy an electric vehicle with a purchase price of less than $58,000 over the next three years. Premier Annastacia Palaszczuk announced the policy, which will cost the government $15 million a year, on Wednesday morning. “This will help Queenslanders waiting for electric vehicles…
Wall Street climbs as oil prices slide
NEW YORK CITY, RAW – US stocks have gained ground as oil prices extended declines while investor focus was squarely on the Federal Reserve’s two-day meeting where policy-makers are widely expected to raise interest rates. Nine of the 11 major S&P sectors advanced in early trading, with technology and consumer discretionary stocks climbing the most….
Govt to scrap earlier tax relief: report
CANBERRA, AAP – Plans to bring forward tax cuts for middle and high income earners to this year’s 2022/23 federal budget could reportedly be shelved. Treasurer Josh Frydenberg is now unlikely to accelerate the relief by two years and flatten the tax rate for those earning between $45,000 to $200,000 to 30 per cent, The…
WA set to host US, UK nuclear submarines
CANBERRA, AAP – A study will be carried out by the federal government on what infrastructure would be needed on the country’s west coast to support American and British nuclear submarines as part of the AUKUS pact. Prime Minister Scott Morrison said the study would be conducted by the department of defence to determine what…
ASX falls after commodity prices slip
SYDNEY, AAP – Falls in commodity shares have dragged the ASX lower as oil prices continue to ease from a recent spike. The market closed lower by 0.73 per cent on Tuesday after the big miners lost three and four per cent. The Brent crude oil price dropped four per cent to $US101.86 per tonne…
