Chinese e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday that its third-quarter net income attributable to ordinary shareholders was RMB46.82 billion or $6.79 billion, an increase of 69 percent from last year’s RMB27.69 billion. The higher results primarily reflected a decrease in impairment of goodwill in relation to Digital media and entertainment segment. Earnings per share in the quarter […]

Woolworths Group Limited (WOW.AX), an Australian chain of supermarkets and grocery stores, reported that its net profit after tax attributable to equity holders of the parent entity after significant items for the 27 weeks ended 1 January 2023 dropped to A$845 million from A$7.06 billion in the prior year, which included gains from the demerger of Endeavour Group. Earnings per […]

China’s key housing market appears to have stabilised after 16 consecutive months of decline and heavy intervention by the central government. Whether that’s sufficient to reignite growth at the levels China is more accustomed to is another question. Last week’s housing data showed that prices for new homes were stable in January for the first time since August 2021. Price […]

More than $1 billion was put into cash exchange-traded funds (ETFs) that are listed on the Australian Securities Exchange by investors during the second half of 2022 as repeated interest rate rises made the investment class increasingly attractive. That contrasts with outflows during the first half of last year of almost $900 million, analysis of sharemarket data by BetaShares shows. […]

Thailand’s economic growth slowed more than expected in the fourth quarter as increases in household spending and investment were partially offset by declines in government spending and exports, official data showed on Friday. Gross domestic product grew only 1.4 percent on a yearly basis in the fourth quarter, moderating from the 4.6 percent expansion in the third quarter, the National […]

The higher the world’s central banks lift interest rates, and the more they risk pushing us into recession, the more our smarter economists are thinking there has to be a better way to control inflation. Unsurprisingly, one of the first Australian economists to start thinking this way is our most visionary economist, Professor Ross Garnaut. He expressed his concerns in […]