Latest news and articles about australian economy from NEX English
BlackRock, one of the world's largest asset management firms, has experienced a significant increase of <strong>74%</strong> in investments from the Australian sovereign wealth fund over the past two years. This growth reflects the firm's success in expanding its alternative investment portfolio amidst the fund's efforts to diversify its investments.
Anthony Miller, Chairman of Westpac, warns that the ongoing conflict in the Middle East, particularly the war in Iran, could increase the likelihood of an economic recession in Australia. He noted that the effects of supply chain disruptions are still unclear, complicating economic forecasts.
Fenix Resources Ltd. reports that the diesel supply shortage caused by the Iranian war is negatively affecting mining operations in Australia, forcing the company to scale back some activities. This warning comes at a critical time as the Australian mining sector faces increasing pressure from rising fuel costs.