STAGFLATION RISK AUSTRALIA 2023
Rashid Khan was offered Indian citizenship, but his reply is stealing attention. Here's what the Afghan cricketer said
Rashid Khan Indian Citizenship Offer: Afghanistan spinner Rashid Khan reportedly rejected offers of citizenship and the chance to play for India and Australia. The book "Rashid Khan: From Streets to Stardom" reveals his unwavering commitment to representing his home country, Afghanistan, despite lucrative opportunities elsewhere.
Global Markets | Australian shares end largely unchanged as investors remain wary of Mideast risks
Australian shares saw a modest rise on Monday. Investors remained cautious, awaiting developments in the Middle East conflict. Hopes for a quick resolution faded after Iran rejected talks and blocked the Strait of Hormuz. The U.S. also seized an Iranian cargo ship. This uncertainty kept the market subdued, with gold miners and consumer firms providing some support.
Wheat rallies on weather woes and Iran-linked fertilizer crunch
Wheat prices are climbing significantly this week. Fertilizer shortages, exacerbated by the Iran war, are also a major concern. These factors are creating worries about the global wheat supply.
Mark Carney says Canada's economic ties with US are a weakness that must be corrected
Canada's close economic ties with the United States are now a weakness, according to Prime Minister Mark Carney. He announced efforts to strengthen Canada's economy by attracting new investments and signing trade deals with other nations. Carney emphasized the need for Canada to rely less on a single foreign partner.
Some small cap funds reopen, others stay closed: 5 key investor takeaways
Small-cap funds, which previously gated inflows due to stretched valuations and excessive liquidity, are now reopening. While some funds have lifted restrictions, others, particularly larger ones, maintain them, citing capacity constraints and liquidity risks. Investors should view these actions as risk management, not market timing signals.
War crisis revives stagflation dangers for global economy
Global business surveys this week will reveal the escalating impact of seven weeks of Middle East conflict on growth and inflation. Initial data from Australia to the US is expected to show deterioration, particularly in Europe, raising concerns about potential stagflation. Policymakers are cautiously awaiting these figures to inform interest rate decisions.
- Go To Page 1
Loyalty over opportunity: Rashid Khan turned down citizenship offer from India
Afghan cricketer Rashid Khan refused citizenship offers from India and Australia. A new book reveals the star spinner chose loyalty to his homeland. He was approached during the 2023 IPL season with an offer of Indian documents and to play cricket in India. Khan reiterated his commitment to representing Afghanistan, a decision that has drawn praise and national pride.
War revives stagflation dangers for global economy
Global economic outlook faces uncertainty as seven weeks of Middle East conflict impact growth and inflation. Business surveys from Australia to the US will reveal the extent of deterioration, with stagflation risks looming. Policymakers grapple with responses amid persistent global uncertainty, while inflation data and interest rate decisions from various nations are closely watched.
Gold price prediction: Bullion experts predict likely gold rate for next few months. Details here
Gold rate prediction: Gold is well-positioned in the current global environment and could gain whether the economy weakens into stagflation or improves amid falling interest rates.
'Want to see Strait of Hormuz opened; no privatisation, no tolls': Australian PM Anthony Albanese
In a post on X, following his participation in a virtual Leaders' Summit on the Strait of Hormuz co-hosted by French President Emmanuel Macron and UK Prime Minister Keir Starmer, Albanese said 49 countries had come together with a "consistent approach" focused on ensuring freedom of navigation.
Market shock ahead? Ex-Treasury secretary warns of ‘vicious’ bond crash coming
Former U.S. Treasury Secretary Henry Paulson warns of a possible bond market crash due to rising U.S. debt and interest rates. He says risks are growing but not immediate. Experts fear a debt “doom loop.” The crisis could hit global markets and crypto like Bitcoin, first negatively, then possibly positively later.
Flights cancelled, prices hiked amid fuel crisis in Australia: Everything Aussie travellers need to know
Rising jet fuel prices are disrupting Australian air travel, prompting Qantas and Virgin Australia to lift fares and cut domestic capacity. With fuel costs adding hundreds of millions to airline expenses, travellers face fewer flights, higher ticket prices, and reduced flexibility as carriers adjust networks to manage the ongoing fuel crisis.
UK PM tells social media bosses to step up child online safety
UK Prime Minister Keir Starmer on Thursday hinted at possible measures limiting children's access to social media, "Things can't go on like this." Starmer summoned the social media bosses to the Downing Street meeting, also attended by Technology Minister Liz Kendall, amid growing calls for a ban on under-16s using the platforms.
Australia boosts military spending as Iran war makes global impact
Australia is boosting its defense budget. Defense Minister Richard Marles announced an additional 53 billion Australian dollars over the next decade. This move aims to enhance national security amid a complex global environment. The strategy emphasizes self-reliance while maintaining key alliances, particularly with the United States. A major investment includes a fleet of nuclear-powered submarines.
Basel III fragments as US, Europe and India take diverging paths on bank capital rules
Fifteen years after its finalization, the Basel 3 accord's goal of uniform global banking rules has fragmented. National regulators are now selectively implementing the framework, prioritizing local economic and political considerations over strict adherence, leading to divergent capital requirements and a less comparable international banking system.
Australia to raise defence spending to 3% of GDP by 2033
Australia will significantly boost its defense spending to three percent of its gross domestic product by 2033. This move responds to the most challenging global security environment since World War Two. The government plans substantial investment over the next decade to enhance defense capabilities and self-reliance. This strategic shift aims to address rising geopolitical tensions and ensure national security.
Ghost Shark, Ghost Bat: Australia accelerates autonomous warfare amid rising tensions; check their features
Australia is fast-tracking its advanced military drone programs. The Ghost Shark underwater drone and the Ghost Bat aircraft are moving from development to production. These systems aim to boost Australia's strategic position in the Indo-Pacific. The Ghost Shark is expected to enter service this year. The Ghost Bat has successfully fired a missile, signaling combat readiness.
11 nations call for coordinated IMF-World Bank support amid Middle East war risks
The finance ministers of 11 countries including Britain and Japan called Wednesday for "coordinated emergency support" to help countries hit by disruptions from the war in the Middle East. "We call on the IMF and World Bank to provide a coordinated emergency support offer for countries in need, tailored to country circumstances and drawing on the full range and flexibility of their toolkits," the ministers said in a joint statement issued by the UK government.
China surpasses US as India's largest trading partner in FY26; trade gap swells to USD 112.16 bn
India's trade with China reached USD 151.1 billion in 2025-26, making it the largest partner. The trade deficit with China widened significantly. The US was previously the top partner for four years. India's exports to China saw substantial growth, while imports also increased. Trade with the US showed marginal export growth and increased imports, leading to a reduced trade surplus.
Global finance ministers warn of prolonged market impact from Middle East conflict
Global finance ministers warn the Middle East conflict will continue to impact growth and inflation. Even a lasting peace will not immediately erase these effects. Renewed fighting or disruptions in the Strait of Hormuz pose serious risks. Ministers pledge fiscally responsible domestic responses and urge all nations to avoid protectionist trade barriers.
Virgin Australia flags higher fuel costs amid the Mideast conflict
Virgin Australia anticipates a significant increase in fuel costs, projecting an additional A$30 million to A$40 million for the latter half of fiscal 2026 due to Middle East conflict-driven price volatility. Despite this, the airline maintains its full-year financial outlook, expecting stronger second-half earnings and improved revenue per available seat kilometre.
Global Markets | Australian shares edge higher on US-Iran talks resumption
Australian shares edged higher as renewed U.S.-Iran peace talks offered optimism, though oil supply worries persisted due to the Strait of Hormuz closure. Miners and gold stocks reached one-month highs, while the energy sub-index declined. Virgin Australia saw a significant jump following its forecast adjustments.
HSBC Private Bank slashes India stock exposure to buy gold amid Iran war
HSBC Private Bank has cut its exposure to Indian equities, citing vulnerability to rising oil prices and global uncertainty amid the Iran conflict. The bank shifted allocations towards gold and defensive assets, reflecting caution on emerging Asia. Global peers have echoed concerns over earnings risks and stretched valuations in Indian markets.
Wells Fargo interest income misses estimates, shares fall
Wells Fargo's interest income fell short of Wall Street expectations in the first quarter on Tuesday, as a string of rate cuts from the U.S. Federal Reserve dragged down loan yields.
Global Markets | Australia Inc starts to feel Iran war fallout, raising stagflation risk
Australia's economy faces a stagflationary shock as the Middle East conflict drives up fuel prices. Top companies like Qantas and Westpac are issuing profit warnings, citing soaring costs and customer impacts. Business and consumer sentiment have plummeted, raising concerns about inflation and slowing growth, a scenario dubbed 'the central bank's nightmare'.
Liver disease crisis: 130 crore people already affected; what we eat and how we live may worsen the risk by 2050
A new study published in The Lancet Gastroenterology and Hepatology reveals that Metabolic dysfunction-associated steatotic liver disease cases have surged globally, with 1.3 billion people affected in 2023, marking a 143 per cent rise since 1990. Based on data from the Global Burden of Diseases Study, the report projects that MASLD prevalence could reach 1.8 billion by 2050, driven by obesity, high blood sugar, and lifestyle changes linked to urbanisation.
What are Money mule accounts? Australia’s financial intelligence regulator targets financial crime vulnerabilities in foreign-owned banks
Australia's financial intelligence unit, AUSTRAC, has uncovered significant control and reporting issues within foreign-owned banks. Reviews revealed low reporting of suspicious activities in bank branches. Furthermore, foreign bank subsidiaries showed a high exposure to money mule accounts. These accounts are used by criminals to launder illicit funds, making it harder for law enforcement to trace money trails.
Australia’s big military leadership overhaul, Mark Hammond to lead as Defence Chief amid strategic shift and rising global tensions
Australia's military is set for a major leadership change. Mark Hammond will become the new Chief of Defence Force. Susan Coyle makes history as the first woman to lead the Army. Matthew Buckley takes over as Chief of Navy. These appointments signal a new era for the Australian Defence Force, focusing on future challenges and national security.
AUSTRAC flags financial crime risks in foreign-owned banks over low AML reporting and money mule activity
Australia's financial intelligence agency, AUSTRAC, has flagged serious concerns regarding foreign banks. Weaknesses in controls and low reporting of suspicious transactions are allowing criminals to exploit the system. Money mule activity is also a significant risk, particularly through foreign subsidiaries. AUSTRAC is urging banks to enhance their anti-money laundering systems and improve transaction monitoring to safeguard the nation's financial integrity.
Load More
