Business Update – 10 January 2024
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Australia-India trade deal a win for exporters
In December, Tim Ayres, Australia’s assistant trade minister, visited India to evaluate the advancements in the pact. The Economic Cooperation Trade Agreement, signed in April 2022 and effective from December 29, 2022, has already demonstrated positive outcomes.
Australian economy predictions 2024: Grim reason interest rate pain will continue
Families could be waiting until 2025 for home loan rate relief, according to a leading Australian economist who has outlined a grim scenario for the next year.
‘Never before seen’: Small businesses in crisis
A new survey has revealed 89 per cent of small businesses are concerned for their future, with an expert warning anxiety among small business owners is worse than during Covid. The survey, commissioned by Precedent Productions, who run the Local Business Awards and the Australian Small Business Champion Awards, surveyed hundreds of small business owners from every Australian state in November last year.
Superannuation funds delivered 9.6% return in 2023 but it was a bumpy ride
After a bruising 2023, Aussies have something to smile about, with retirement savings increasing by nearly 10 per cent over the past 12 months, outpacing the rate of inflation and withstanding market volatility.
UN tips slow and steady inflation progress in Australia
Rising rental prices are likely to limit progress on inflation in Australia this year based on United Nations (UN) projections.
How will the ASX, Wall Street, other share markets and the Australian dollar perform in 2024?
Key market and currency watchers say the Australian share market is likely to outperform other major financial markets in 2024 and the Australian dollar will trade higher against the greenback with or without interest rate cuts.
Australia’s property market faces fresh peaks and troughs with slowing prices and interest rates tipped to drop
Australia’s “rollercoaster” real estate market faces fresh peaks and troughs in 2024 as the prospect of falling interest rates contend with a recent slowdown in price increases.
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