Weekend Edition
25th of August, 2023 Edition
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BRICS invited six new countries: Saudi Arabia, Iran, Ethiopia, UAE, Argentina, and Egypt. As global economic power shifts, nations have options in major power competitions, challenging the G7’s dominance. Australia’s inflation rate has dipped to its lowest point since early 2022, registering at 4.9% versus the projected 5.4%. This decline, more significant than anticipated, has alleviated concerns regarding a potential interest rate hike in the near future. However, specific sectors, notably electricity and housing, continue to witness rising costs.
In the dynamic world of the ASX this week, several narratives unfold. Fortescue Metals Group Limited welcomes Dino Otranto as their new CEO, signaling a fresh leadership perspective.