By: Sahar Mourad Australia has long been a leader within the economic sector, but one organisation is working to further strengthen the country’s ties with the rest of the world. The Australian Business Summit Council Inc. is a not-for-profit organisation that works to support Australian businesses both nationally and internationally. Founding President Dr Frank Alafaci and Secretary ...
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ABSC INC. holds media conference to promote EKONOMOS, Issue 2, 2020
The Australian Business Summit Council Inc. hosted its second Media Conference and annual luncheon at The Waterview in Bicentennial Park, Homebush on 9 November 2020 to promote the imminent publication of the second issue of EKONOMOS, the official ABSC Inc. business affairs magazine in late November this year. More than thirty VIPs and guests enjoyed the five-star venue’s sumptuous food ...
Read More »Australians cancelled 800,000 credit cards during COVID-19
By: Aleks Vickovich While Australia’s national net debt has blown out by 40 per cent to $703 billion thanks largely to the pandemic, it seems regular folks around the country have taken a more prudent approach, reducing their collective credit card bill by more than $7 billion over the same period. According to the latest data from the Reserve Bank of Australia, ...
Read More »Petition calling for media royal commission and setting Australian record tabled in Parliament
By: Jack Snape Australia’s largest-ever parliamentary e-petition, which calls for a royal commission into media diversity and has more than 500,000 signatures, has been submitted to the House of Representatives. The petition was launched by former prime minister Kevin Rudd. “The bottom line is the lifeblood of our democracies depends on a fair, balanced, independent, free media which separates out ...
Read More »House prices across Australia begin to soar
House prices across Australia have risen overall for the first time since the start of COVID-19. Monthly data from CoreLogic shows that, as a collective average, the housing market experienced a 0.4 per cent rise in October. It follows month-on-month average declines since the pandemic started shaking the nation’s economy. “The numbers out today are quite remarkable,” CoreLogic head of ...
Read More »Australian Government secures 50 million doses for the coronavirus vaccine
The Morrison government has hedged its bets further on the discovery of a coronavirus vaccine by investing in two more projects to secure another 50 million doses. As a result, Australia now has a stake in four vaccines with a combined total of 134 million dose, should any or all of them prove safe and effective. Prime Minister Scott Morrison ...
Read More »Australia’s second most expensive house is sold for $95million
By: Lucy Macken One of the most expensive residences on the Point Piper waterfront, known as Edgewater, has been sold for an eye-watering $95 million. The incredible five-storey property called Edgewater features a private jetty, tennis court, and huge terraces on each level overlooking Sydney Harbour. The deal is set to rank as the second highest residential sale nationwide when ...
Read More »NSW public sector slapped with wage cap but unions rule out industrial action
By: Tom Rabe Unions have condemned a move by the NSW government to cut the public sector wage cap to 1.5 per cent but have ruled out industrial action during the coronavirus pandemic. In order to save billions of dollars following due to the COVID-19 economic crisis, the state cabinet agreed on Monday night to reduce the cap for public ...
Read More »Reserve Bank cuts interest rates to a record low
By: Rachel Clayton and Rachel Pupazzoni The Reserve Bank cut interest rates to a record low of 0.1 per cent on Tuesday. The cut to 0.1 per cent is down from the previous record low of 0.25 per cent, which was announced earlier this year. Alongside the drop in the official cash rate, the RBA lowered its three-year bond rate target to 0.1 ...
Read More »New $100 note released into circulation
The Reserve Bank of Australia released the new $100 banknote on 29 October 2020. It celebrates Sir John Monash, an engineer, soldier and civic leader and Dame Nellie Melba, an internationally renowned soprano. New security features have been used to make the bill “impossible to forge” include a reversed number 100 and the image of a three-dimensional fan. The ...
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