Latest news with #NAB
Business Times
17 hours ago
- Business
- Business Times
Australia business mood brightens as activity holds up
[SYDNEY] A measure of Australian business confidence rose to a three-year high in July thanks to strength in services and construction, a survey showed on Tuesday, though rising costs also put upward pressure on retail prices. The survey from National Australia Bank showed its index of business confidence climbed to +7 in July, from +5 in June, the highest reading since August 2022. Its measure of business conditions eased to a still solid +5 in July, after jumping to +7 the previous month. 'Overall, the survey points to an improvement in activity through Q2 and suggests that the worries globally have not materially influenced local hiring and investment decisions,' said NAB's chief economist, Sally Auld. 'Generally, the services sectors, both consumer facing and for businesses, are stronger while retail and wholesale remain weaker.' Confidence could have been supported by expectations for lower borrowing costs, with the Reserve Bank of Australia widely expected to cut interest rates to a two-year low of 3.60 per cent on Tuesday. The survey's measure of business sales dipped 3 points to +11 in July, after a 9-point jump in June, while profitability eased 2 points to +2. In a cautionary note for the labour market, its measure of employment fell 3 points to +1. Official data in June showed a surprise jump in unemployment to the highest since late 2021 at 4.3 per cent and sparked worries about a weakening trend. Price indicators in the survey pointed to pockets of ongoing inflationary pressures. Notably, quarterly growth in retail prices accelerated to 1.1 per cent in July, from 0.5 per cent in June, while producer prices rose at a 0.9 per cent pace. 'The survey is consistent with improving economic growth, although still highlights the challenges around cost pressures faced by many businesses,' said Auld. REUTERS
Yahoo
17 hours ago
- Business
- Yahoo
Australia business mood brightens as activity holds up
SYDNEY (Reuters) -A measure of Australian business confidence rose to a three-year high in July thanks to strength in services and construction, a survey showed on Tuesday, though rising costs also put upward pressure on retail prices. The survey from National Australia Bank showed its index of business confidence climbed to +7 in July, from +5 in June, the highest reading since August 2022. Its measure of business conditions eased to a still solid +5 in July, after jumping to +7 the previous month. "Overall, the survey points to an improvement in activity through Q2 and suggests that the worries globally have not materially influenced local hiring and investment decisions," said NAB's chief economist, Sally Auld. "Generally, the services sectors, both consumer facing and for businesses, are stronger while retail and wholesale remain weaker." Confidence could have been supported by expectations for lower borrowing costs, with the Reserve Bank of Australia widely expected to cut interest rates to a two-year low of 3.60% on Tuesday. [AU/INT] The survey's measure of business sales dipped 3 points to +11 in July, after a 9-point jump in June, while profitability eased 2 points to +2. In a cautionary note for the labour market, its measure of employment fell 3 points to +1. Official data in June showed a surprise jump in unemployment to the highest since late 2021 at 4.3% and sparked worries about a weakening trend. Price indicators in the survey pointed to pockets of ongoing inflationary pressures. Notably, quarterly growth in retail prices accelerated to 1.1% in July, from 0.5% in June, while producer prices rose at a 0.9% pace. "The survey is consistent with improving economic growth, although still highlights the challenges around cost pressures faced by many businesses," said Auld. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Recorder
21 hours ago
- Politics
- Business Recorder
Large tract of land linked to POs in ‘Al-Qadir Trust case' auctioned
ISLAMABAD: The authorities on Monday auctioned a large tract of land in the capital linked to proclaimed offenders (POs) in the high-profile Al-Qadir Trust corruption case, which names former Prime Minister Imran Khan and his wife among the accused. However, officials denied reports that Imran Khan's personal residence in Bani Gala was part of the sale, stating that the former prime minister and his wife are not POs. A total of 405 kanals– approximately 50 acres – of agricultural land in Islamabad's Moza Mohra Noor area was auctioned at a price of Rs3.42 million per kanal, in a court-ordered move overseen by the local administration and an auction committee. The auction follows the January court declaration of six individuals, including Farhat Shehzadi alias Farah Gogi, Zulfi Bukhari, and Mirza Shehzad Akbar, as proclaimed offenders (POs) in connection with the National Accountability Bureau (NAB) reference – commonly known as the Al-Qadir Trust case. Two other properties – a 16-kanal plot on Islamabad's Club Road and an additional 248-kanal tract of agricultural land – were also listed for auction but received no bids. Assistant Commissioner Secretariat Uzair Ali Khan supervised the process, though the auction committee arrived over six hours late. Prior public notices had been issued, inviting bidders to submit a Rs5 million pay order in the name of the NAB chairman to participate. Reacting to reports circulating on social media that Imran Khan's personal residence was under auction, Pakistan Tehreek-e-Insaf (PTI) Secretary General Salman Akram Raja dismissed them as inaccurate. 'The Bani Gala residence is not part of any auction. Monday's notice pertains only to properties owned by absconding co-accused in the NAB reference,' he posted on X, adding that PTI's legal team is actively monitoring the situation. A NAB spokesperson confirmed that the properties being auctioned are linked to fugitives and not to Imran Khan himself. 'There are no court orders for the auction of Imran Khan's assets. The £190 million case does not include any of his properties,' the official said. The Al-Qadir Trust case relates to allegations that Imran Khan and his associates misused authority in the handling of £190 million repatriated from the UK during his tenure. Khan, who remains imprisoned, denies all charges and has described the cases against him as politically motivated. Copyright Business Recorder, 2025
Express Tribune
a day ago
- Politics
- Express Tribune
One of Qadir Trust properties auctioned
Authorities on Monday auctioned one of the three properties "illegally" transferred to former prime minister Imran Khan and his wife Bushra Bibi, according to the £ 190 million corruption reference filed by the National Accountability Bureau (NAB) against the couple and some other accused in December 2023. An accountability court in Islamabad on January 17, 2025 found Imran, Bushra and other accused guilty of corruption and sentenced the PTI founder to 14 years in prison. Bushra Bibi received a seven-year jail term. Last week NAB had decided to auction the properties. According to a public notice issued by Assistant Commissioner Secretariat Uzair Ali Khan, the three properties405-kanals of agricultural land at Mohra Noor; a 16-kanal motel plot on Club Road and 248 kanals of agricultural landwere put up for auction. The notice asked those wishing to participate in the auction to submit a pay order of Rs5 million in the name of the National Accountability Bureau (NAB) chairman. It also allowed the interested bidders to inspect the property prior to the auction. It also stated that the relevant patwari would provide full details to participants and that the auction would be conducted under the terms and conditions approved by the evaluation committee. The auction was scheduled for 11:00 am on Monday, but the auction committee arrived at 5:39 pm. Later, 405-kanals of agricultural land at Mohra Noor of Bani Gala was auctioned at the rate of Rs3.42 million per kanal. Reacting to the matter, PTI Secretary General Salman Akram Raja took to X, stating that the news of the alleged auction of the PTI founder's Bani Gala property emerged only today. "If it is true then it is the result of a secretive action," he said, Raja stated that the Bani Gala administrators were unaware of the matter and that PTI's legal team was working to get to the bottom of it, with accurate details to be revealed soon. Later, in another post, he clarified that according to the legal team's findings, NAB Reference No 19/2023, titled State vs Imran Khancommonly known as the Al-Qadir Trust caseinvolves other accused who have been declared absconders and proclaimed offenders.
The Sun
a day ago
- Health
- The Sun
Malaysia urged to boost healthcare, social support for ageing population
KUALA LUMPUR: Malaysia needs to focus on healthcare and social support systems to ensure a healthy and dignified ageing process for its population, according to market research firm Ipsos Sdn Bhd. A recent Ipsos survey titled Attitudes Towards Ageing 2025 revealed that Malaysians expect to live an average of 15 years in their senior years. The study also found that Malaysians now consider old age to begin at 60, compared to 56 seven years ago. The survey noted that Malaysia and Southeast Asia show a more positive outlook on ageing compared to developed nations, where longer lifespans do not always translate to optimism. 'This outlook among Malaysians may be influenced by cultural values that respect the elderly, as well as support from family and the community,' Ipsos stated. Despite this positivity, Malaysia faces challenges as it is projected to become an ageing nation by 2043. 'Malaysia must prioritise investment in healthcare and social support to ensure people age healthily and meaningfully,' Ipsos emphasised. The survey involved 23,745 adults under 75 across 32 countries, with old age perceptions varying globally. France defines old age at 72, Thailand at 68, Great Britain at 67, Japan at 65, the Philippines at 60, and Indonesia at 59. Ipsos Managing Director Arun Menon highlighted that Malaysia's perception of old age has shifted by four years since 2018. Prime Minister Datuk Seri Anwar Ibrahim recently announced the National Ageing Blueprint (NAB) 2025–2045 to ensure inclusive development for the elderly. The NAB includes plans for an efficient Long-Term Care system, elderly care regulations, and social protection for caregivers. - Bernama
