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NZ Herald
5 hours ago
- Business
- NZ Herald
There's an upside to this painfully slow economic recovery
There's a lesson there, and it's one you might think a 50-something-year-old bloke should have learned already. There are no shortcuts in life. Or at least none that don't have consequences and complications of their own. So no prizes for guessing where this analogy is headed ... These days, we're talking a lot about the state of the economic recovery. We're frustrated because it is taking longer than we'd like. And yes, New Zealand took an almighty dose of over-the-counter stimulus to deal with the economic fallout from Covid-19. For a time, it felt like we'd avoided the worst of the symptoms, but then we overheated, and then we crashed. Now we're in recovery. And it's a hard-fought one. It's making us sweat. It's the kind of recovery we have to earn, and I think that, as painful as it feels now, it might be good for us in the long run. It's so hard precisely because it isn't pumped up by Government stimulus, it isn't pumped up by immigration, and it isn't pumped up by rising house prices making us richer than we are. We've relied on those three drivers to inflate our sense of economic progress for a long time. The disappearance of a 'wealth effect' based on house prices has been a shock to New Zealand's economic system I think it probably accounts for the slower pace of recovery as much as anything else in the myriad puzzle pieces. Gareth Kiernan, chief forecaster at Infometrics, said last week that his forecasts were for house price inflation to average 3.1% a year over the five years to June 2030. In nominal terms, prices would pass their 2021 peak in mid-2029, he said. But adjusted for inflation, prices in mid-2030 would still be a fifth below the peak. That would represent a bigger drop than we saw in the global financial crisis (GFC), when prices fell 14% in real terms. Long-term forecasts are notoriously unreliable and other economists aren't so downbeat. But if Kiernan is right and the days of the wild housing booms are over, then it would represent a huge cultural shift that could reshape our economy. We have dealt with many of the big supply constraints that were limiting the amount of house building a decade ago. There's also a demographic shift under way. A large bubble of boomers (is that the collective noun?) will be looking to sell down in the next few years. And, of course, migration has been subdued with a net population gain of just 21,000 in the year to May – down from a staggering peak of 138,000 in the year to October 2023. Perhaps this Government or the next will panic about house prices and start enacting policies to push them higher. But the politics of housing are shifting, and a growing number of non-home-owning voters is likely to keep the pressure on to keep supply open. Creating new demand isn't as simple as throwing open the borders either; we need an economy that is creating jobs to attract more migrants. I'm not convinced house price growth will stay as subdued for as long as Kiernan suggests. But I agree that there is no sign of another boom on the horizon to turbo-charge this economic cycle. So what's the good news? Where's the payoff for the economy? The early 20th-century Austrian economist Joseph Schumpeter had a thing or two to say about the value of difficult economic cycles. He is famous for a concept called 'creative destruction'. He argued that downturns weeded out inefficient parts of the economy and ultimately made economies more innovative and efficient. His views can sound pretty hard-hearted when you consider the human cost of business failures and job losses. But he had a point about tough conditions driving new innovation and efficiencies in an economy. Faced with squeezed margins and slow revenue growth, businesses have to think creatively about what they do. They have to look at improving productivity, whether that is through cost-cutting or investing in new technology and exploring new products or new markets. Without property sitting there as an easy investment option, Kiwis will also have to get smarter about where they put their money. Capital is more likely to flow to the productive parts of the economy. It is a great relief that our agricultural export sector is humming this year. Without that, there may have been no recovery at all. Economies can and do get trapped in recessionary feedback cycles that are no good for anyone. But we have some momentum, and we have a central bank that has regained control of inflation. It may need to pause its interest rate cuts in July, to make sure it still has that control. But with plenty of spare capacity in the economy, the medium-term outlook for inflation remains subdued. The RBNZ still has scope to go lower if required. Yes, this recovery is a slow and painful process. We're being forced to sweat it out for every small gain in an uphill slog. I'm hopeful that it will see us emerge leaner and fitter. We'll be better placed for the period of sustained growth we'll need to start solving our fiscal woes and the social challenges we're facing in the coming decades. Liam Dann is business editor-at-large for the New Zealand Herald. He is a senior writer and columnist, and also presents and produces videos and podcasts. He joined the Herald in 2003.
Economic Times
14 hours ago
- Business
- Economic Times
Patience is key in markets as global uncertainties test new investors: Raamdeo Agrawal
Investors may face short-term stagnation, but enduring patience often leads to stronger long-term returns—especially critical for newcomers navigating today's uncertain market. Synopsis Market veterans urge patience amid current dull phases and geopolitical tensions. While returns may dip temporarily, long-term gains often follow extended periods of low performance. New investors should embrace this cycle with discipline and perspective. I was talking to some people they were saying that market is dull. What do we do? So, I said expect little lower return and get ready for a bigger return. Longer you wait for a low return, higher will be the return on the back ended. So, this is a time for a little patience, says Raamdeo Agrawal, co-founder of Motilal Oswal Group. ADVERTISEMENT Raamdeo Agrawal: Coming back to your question, markets have been actually very resilient if you look at a very long term, 10, 15, 17 years. It has been very predictable market and in last 16 years if you see, we have seen…, 16 years means we are talking about something like post GFC which is about 2008-09. So, after that only Covid has been one of the big breakdown, otherwise market has been very-very nice and scaling up. And from 2020 post Covid, we are seeing virtual boom from 8,000-9,000 post covid correction to now 24,000-25,000, so 3x in five years, so it is a very sustained rise and it is very resilient. I mean, good thing is that not only it is rising, the corrections are very-very shallow and so that is giving the confidence. Even it has given a lot more confidence to retail investors and so, yes, journey has been very good. Raamdeo Agrawal: So, I was talking to some people they were saying that market is dull. What do we do? So, I said expect little lower return and get ready for a bigger return. Longer you wait for a low return, higher will be the return on the back ended. So, this is a time for a little patience. Today market is good, but generally all these geopolitical challenges, the patience is a lot more required whenever the external environment becomes hostile. So, right now we are going through slightly turbulent environment and patience is the key one should… I mean, lot of people have come new in the system, almost like 60-70% people are less than five years into the market. So, they would have not…, their patience will be tested for the first time, so they should be ready to provide that necessary patience, no return kind of a zone for some time and then journey again starts. So, my sincere request to all the new investors would be that they should be ready to provide that patience which is the biggest fertiliser for long-term investing. ADVERTISEMENT Raamdeo Agrawal: No, there has been…, a downdraft for the gold must be low. Of course, gold has done much better than I ever thought it will do. One is that there is no outperformance to further gold performance. If gold has done 15% or index has done 15%, I think I must have done at least 20%, so that 5% is not possible in gold. It is only possible in equities and I mean, some of the guys might have done 25%, 30% also, that is not possible in gold unless you leverage and those kind of things. So, yes, I mean, gold has outperformed my own wildest expectation and it has emerged globally also as a very important bucket of value, so the people who believe in gold, of course, it is good news to them. And right now, it looks very, what do you call, bullish, but I would not put anything onto the gold. I am pretty comfortable. One of the things which Mr Buffett said is do what you understand. So, I understand only equities. So, I am pretty good at staying with equities. ADVERTISEMENT Raamdeo Agrawal: No, I still think capital market remains a big opportunity because it is asset light and it is very scalable and the firms, particularly is the opportunity size is one. Second is the scalability within, what do you call, opportunity itself, like if you look at the global asset management companies, now they do not talk in billions, they only talk in trillions. I mean, like there are $8 trillion, $10 trillion kind of a single asset management company. So, those kind of… As our AUM grows, we will also see that 10-15% of the total AUM would be with one AMC, like in India out of 40 lakhs equities, SBI must be having almost like 7-8 lakh crores. So, those kind of consolidated positions will be there on a much more enlarged asset base. When asset base goes from 40 lakh crores to 400 lakh crores, these giants will have their due share in the larger pie also. So that kind of a capital market… and capital market is very, I would say, at least to me it looks like very smoothly compounding and scaling as a GDP of the country grows and the entire system remains intact. So, the capital market opportunity still is a pretty large opportunity and now markets have valued it also somewhat. ADVERTISEMENT When we talked about three years back, valuations were very cheap. Now, people are realising that and it is showing up in the valuation. So, less attractive opportunity than what it was three years back, but nevertheless longer term that opportunity still stays pretty intact. But going to other segments, if the oil price stabilises about $65 or $60, all the OMCs which are there at current, currently available at literally one book or one-and-a-half book, 10 times, 12 times for their size of the businesses that seems to be kind of a great opportunity and it is very early trend. But let us see, I mean the government also has to be supporting in terms of policy making but that looks to be a big trend out here. Raamdeo Agrawal: So, like the real estate looks to be…, real estate, defence, energy transitions, capital market, I mean these are few themes which are coming immediately to my mind, they will grow at more like 20%, 22%, 25%. Even banking, banking on the whole, the kind of policy we are seeing, the regulator wants higher growth, credit growth rate. So, if the 13-14%, if they go back to the trend, credit growth rate, in that case mid-sized banks, well-managed banks they will grow at about 18-20% or more than that. So, yes, I mean, there are whole lot of sectors who will definitely grow. I mean, almost like one-and-a-half times of nominal GDP growth rates. ADVERTISEMENT Raamdeo Agrawal: I mean, you have to be selective what companies you buy because it is a very-very large sector and the companies have their own limitation in terms of execution. Every city has two-three very large realty companies. But then if you look at the whole country, as you go from current $4 trillion GDP to $8 trillion or $20 trillion, the biggest game in town is going to be the real estate company. Anybody makes money anywhere in stock market or anywhere, first thing they go is and splurge in buying a better house, good house and better house. If somebody has two bedroom, he will go for three-bedroom, they will go for better locality. So, real wealth effect of stock market and of the broader economy will be reflected in realty boom and that is what we are witnessing and I mean, it is just about three-four years old kind of thing, till about Covid things were absolutely in dumps. Of course, they have come back from there and a lot of companies are listed also and a lot of companies are going to come up, but in this space we will find some unknown tier III companies or tier II companies or small companies making big splash in next 5-10 years. Raamdeo Agrawal: Yes, so that I forgot to tell, but that is one thing which is going to be across, I mean, there is going to be so many companies from the digital side. The way US market is looking today that 8-10 digital companies are kind of a dominating the entire index movement or corporate profitability movement, those movements will also come maybe after five-seven years in terms of significance. Raamdeo Agrawal: I mean, that is company wise, you have to go very company-wise, listen to the story, eat, drink, and spend time with them and understand their story. At that time you are able to figure out, at least the way I go about doing it is spend a full day with the company, at the end of the day you will be able to figure out whether it is in the price or you are way above the…, I mean, underlying value is more than the price or price is more than the value that you will be able to figure out by spending full day with the company. Raamdeo Agrawal: I am not too sure that world will go without IT services companies like Infosys, TCS, and all. But AI computing or what AI role…, I mean role of services companies will be changing for sure and they have been changing right throughout, from a complete body shopping in 90s to project implementation and now very large complex projects and now the new angle which has come up is the AI computing. So, I mean how relevant they will be in this new…, and they will be relevant, I do not have any doubts. The issue is, are their role going to go up or they will go through this stagnancy process or some kind of a contraction also. Because it budgets, I mean in my own company IT budgets are not going down, it spend is continuing and it is always short, your projects are not getting completed in time. So, it is not that just AI is coming and eating away all the services, no, it is not happening in real life. Yes, there is some exciting development about the AI, some of the things can be done faster, but I am not the right person to pass a judgment, but I do not think it is down and out kind of situation, no. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? 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Time of India
14 hours ago
- Business
- Time of India
Patience is key in markets as global uncertainties test new investors: Raamdeo Agrawal
I was talking to some people they were saying that market is dull. What do we do? So, I said expect little lower return and get ready for a bigger return. Longer you wait for a low return, higher will be the return on the back ended. So, this is a time for a little patience, says Raamdeo Agrawal, co-founder of Motilal Oswal Group. ET Now: So, firstly wanted to have your take on how you have seen the markets transitioning throughout these many years and from here on how do you see the market going ahead, your first thoughts on that. Raamdeo Agrawal: Coming back to your question, markets have been actually very resilient if you look at a very long term, 10, 15, 17 years. It has been very predictable market and in last 16 years if you see, we have seen…, 16 years means we are talking about something like post GFC which is about 2008-09. So, after that only Covid has been one of the big breakdown, otherwise market has been very-very nice and scaling up. And from 2020 post Covid, we are seeing virtual boom from 8,000-9,000 post covid correction to now 24,000-25,000, so 3x in five years, so it is a very sustained rise and it is very resilient. I mean, good thing is that not only it is rising, the corrections are very-very shallow and so that is giving the confidence. Even it has given a lot more confidence to retail investors and so, yes, journey has been very good. Raamdeo Agrawal: So, I was talking to some people they were saying that market is dull. What do we do? So, I said expect little lower return and get ready for a bigger return. Longer you wait for a low return, higher will be the return on the back ended. So, this is a time for a little patience. Today market is good, but generally all these geopolitical challenges, the patience is a lot more required whenever the external environment becomes hostile. So, right now we are going through slightly turbulent environment and patience is the key one should… I mean, lot of people have come new in the system, almost like 60-70% people are less than five years into the market. So, they would have not…, their patience will be tested for the first time, so they should be ready to provide that necessary patience, no return kind of a zone for some time and then journey again starts. So, my sincere request to all the new investors would be that they should be ready to provide that patience which is the biggest fertiliser for long-term investing. Live Events ET Now: In last 15 years if I look at ballpark, like we say in Hindi mota-moti gold and equity markets have given almost parallel returns. Now, with gold you have not done any hard work, you always had advantage of liquidity. With equity markets in last 15 years you have taken big knocks of volatility in covid and then in 2013-14. So, if gold has given returns which are almost equivalent to equities, what does that tell you that which asset class will outperform going forward because gold has given you good returns without any stress. Equity has given you all kind of stress and has not given you great returns in 15 years. Raamdeo Agrawal: No, there has been…, a downdraft for the gold must be low. Of course, gold has done much better than I ever thought it will do. One is that there is no outperformance to further gold performance. If gold has done 15% or index has done 15%, I think I must have done at least 20%, so that 5% is not possible in gold. It is only possible in equities and I mean, some of the guys might have done 25%, 30% also, that is not possible in gold unless you leverage and those kind of things. So, yes, I mean, gold has outperformed my own wildest expectation and it has emerged globally also as a very important bucket of value, so the people who believe in gold, of course, it is good news to them. And right now, it looks very, what do you call, bullish, but I would not put anything onto the gold. I am pretty comfortable. One of the things which Mr Buffett said is do what you understand. So, I understand only equities. So, I am pretty good at staying with equities. ET Now: But I was telling someone today that when I met Raamdeo ji three years back on Diwali, he said capital markets is going to be that one structural story and I was just admiring the way that you actually pick up big trends in the market. While capital markets theme is not going anywhere in a hurry hopefully so, but what are the other big trends that you foresee now emerging in the markets? Raamdeo Agrawal: No, I still think capital market remains a big opportunity because it is asset light and it is very scalable and the firms, particularly is the opportunity size is one. Second is the scalability within, what do you call, opportunity itself, like if you look at the global asset management companies, now they do not talk in billions, they only talk in trillions. I mean, like there are $8 trillion, $10 trillion kind of a single asset management company. So, those kind of… As our AUM grows, we will also see that 10-15% of the total AUM would be with one AMC, like in India out of 40 lakhs equities, SBI must be having almost like 7-8 lakh crores. So, those kind of consolidated positions will be there on a much more enlarged asset base. When asset base goes from 40 lakh crores to 400 lakh crores, these giants will have their due share in the larger pie also. So that kind of a capital market… and capital market is very, I would say, at least to me it looks like very smoothly compounding and scaling as a GDP of the country grows and the entire system remains intact. So, the capital market opportunity still is a pretty large opportunity and now markets have valued it also somewhat. When we talked about three years back, valuations were very cheap. Now, people are realising that and it is showing up in the valuation. So, less attractive opportunity than what it was three years back, but nevertheless longer term that opportunity still stays pretty intact. But going to other segments, if the oil price stabilises about $65 or $60, all the OMCs which are there at current, currently available at literally one book or one-and-a-half book, 10 times, 12 times for their size of the businesses that seems to be kind of a great opportunity and it is very early trend. But let us see, I mean the government also has to be supporting in terms of policy making but that looks to be a big trend out here. ET Now: So, I am using the nominal GDP as the benchmark here, 11% to 12%. For next three years which are the businesses because investing like you always say is buying a good business. Which are the businesses which will grow faster than the nominal GDP? Which are the businesses which will grow in and around the nominal GDP? And which are the businesses, themes, or sectors which will grow in single digit? Raamdeo Agrawal: So, like the real estate looks to be…, real estate, defence, energy transitions, capital market, I mean these are few themes which are coming immediately to my mind, they will grow at more like 20%, 22%, 25%. Even banking, banking on the whole, the kind of policy we are seeing, the regulator wants higher growth, credit growth rate. So, if the 13-14%, if they go back to the trend, credit growth rate, in that case mid-sized banks, well-managed banks they will grow at about 18-20% or more than that. So, yes, I mean, there are whole lot of sectors who will definitely grow. I mean, almost like one-and-a-half times of nominal GDP growth rates. ET Now: You have been extremely bullish on real estate, which you have always maintained that it is also a structural story. A lot of the positive is already in the price. The real estate sector is a well discovered sector now. But do you think with RBI's push, with all that RBI is doing with regards to norms now and infra lending, etc, as well, this sector is here to stay and there is still money to be made? Raamdeo Agrawal: I mean, you have to be selective what companies you buy because it is a very-very large sector and the companies have their own limitation in terms of execution. Every city has two-three very large realty companies. But then if you look at the whole country, as you go from current $4 trillion GDP to $8 trillion or $20 trillion, the biggest game in town is going to be the real estate company. Anybody makes money anywhere in stock market or anywhere, first thing they go is and splurge in buying a better house, good house and better house. If somebody has two bedroom, he will go for three-bedroom, they will go for better locality. So, real wealth effect of stock market and of the broader economy will be reflected in realty boom and that is what we are witnessing and I mean, it is just about three-four years old kind of thing, till about Covid things were absolutely in dumps. Of course, they have come back from there and a lot of companies are listed also and a lot of companies are going to come up, but in this space we will find some unknown tier III companies or tier II companies or small companies making big splash in next 5-10 years. ET Now: You have been a big votary of these high digit, high growth businesses, especially the digital businesses. Raamdeo Agrawal: Yes, so that I forgot to tell, but that is one thing which is going to be across, I mean, there is going to be so many companies from the digital side. The way US market is looking today that 8-10 digital companies are kind of a dominating the entire index movement or corporate profitability movement, those movements will also come maybe after five-seven years in terms of significance. ET Now: …say that you need to figure out what is in the price, whether it is good news or bad news, whether it is earnings or whether it is compounding. So as we look into the future and if one has to look at next 12 to 18 months from a market standpoint, what is in the price and what is not in the price. Raamdeo Agrawal: I mean, that is company wise, you have to go very company-wise, listen to the story, eat, drink, and spend time with them and understand their story. At that time you are able to figure out, at least the way I go about doing it is spend a full day with the company, at the end of the day you will be able to figure out whether it is in the price or you are way above the…, I mean, underlying value is more than the price or price is more than the value that you will be able to figure out by spending full day with the company. ET Now: Talk about a theme where question marks have been raised about the viability and the future existence and that is a good old IT services. Massive wealth creators but from given what is happening in AI, the maturity curve, the demand, do you think these stocks will continue to underperform and one should not call them as contra or value buyers at all. Raamdeo Agrawal: I am not too sure that world will go without IT services companies like Infosys, TCS, and all. But AI computing or what AI role…, I mean role of services companies will be changing for sure and they have been changing right throughout, from a complete body shopping in 90s to project implementation and now very large complex projects and now the new angle which has come up is the AI computing. So, I mean how relevant they will be in this new…, and they will be relevant, I do not have any doubts. The issue is, are their role going to go up or they will go through this stagnancy process or some kind of a contraction also. Because it budgets, I mean in my own company IT budgets are not going down, it spend is continuing and it is always short, your projects are not getting completed in time. So, it is not that just AI is coming and eating away all the services, no, it is not happening in real life. Yes, there is some exciting development about the AI, some of the things can be done faster, but I am not the right person to pass a judgment, but I do not think it is down and out kind of situation, no. ETMarkets WhatsApp channel )
Irish Independent
4 days ago
- General
- Irish Independent
Around the Districts: Ardcath/Clonalvy, Curraha, Gormanston and Julianstown
Contact Any news or items of interest contact Niamh at 086 3477283 or email niamhuiloinsigh@ Ardcath Tidy Towns If anyone would like to be involved with Ardcath Tidy Towns, please WhatsApp 087 8354805 to be added to the Tidy Towns WhatsApp Group. Michael Fox Ardcath Tidy Towns Committee. Ardcath ICA Social Dancing continues every Monday evening in Bennetts Function Room at 7pm. Anyone interested is welcome to attend. Ardcath Guild Meetings are held on the second Wednesday of the month at 7.30pm in Bennetts Function Room Ardcath - New Members welcome. Ardcath Clonalvy Heritage Society There was a great turnout and celebration for the rededication of the font on June 7th in St. Mary's Church, Ardcath. The rededication and concelebrated mass were carried out by Bishop Deenihan, Fr. Michael, Fr. Phil and Fr. Steve. Fr Michael, Fr Phil. Leo thanked all on behalf of Ardcath Clonalvy Heritage Society and introduced Nick who gave a short talk on the font and its link with the medieval church in the graveyard. Many thanks to everyone involved for their dedication in completing this project. St. Mary's Church Ardcath First Friday Visits to the Sick, and Housebound: The First Friday Visits take place on the First Fridays of the Month and are an opportunity for those who are unable to leave their homes to receive Confession, Holy Communion and the Sacrament of the Sick. If you wish to be included in the pastoral visits, please contact the Parish Office on 018350136 or Fr. Steve on 087-3379031. Clonalvy Patron Day Clonalvy Patron Day will be held on Sunday June 29th 2025. Mass at 1pm in Saint John the Baptist Church followed by Blessings of the Graves in Clonalvy Cemetery at 1.30 p.m. St. Vincent's GFC Lotto Lotto Results 2nd June, 2025 Numbers Drawn were 2-15-40 No Winner. Jackpot €1,000. Windfall draw takes place on Monday night @ 9.00pm. Play before 6pm Monday at Text Alert Duleek & District Community Text Alert covering Duleek, Bellewstown, Ardcath/Clonalvy, Donore, Beamore, Rathfeigh, Stamullen, Gormanston, Julianstown subscription of €6 can now be paid for free by Revolut. Please send your name & address along with payment to 086 8097737. If you're not already registered with Text Alert, please consider doing so. ADVERTISEMENT Learn more CURRAHA Contact Any news or items of interest contact Niamh at 086 3477283 or email niamhuiloinsigh@ Curraha GAA After securing a League title in their debut campaign, our Ladies team this week learned who their opponents would be in the 2025 Championship. We have been graded at Junior D level and will face Oldcastle, Rathkenny, and Dee Rangers in Group B, with games due to start in the first week of August. The Jacksie Kiernan Competition is due to start at the end of this month, with fixtures to be confirmed, so there is plenty of football to look forward to over the summer Curraha Tidy Towns Calling everyone to come out the 1st Saturday of each month to clean up your area. Bags can be provided if required ring Deirdre on 0868868917 or Marcella on 0876744691. Please drop the full bags back to the Church carpark for collection by the County Council. Let's be proud of our village. St Andrew's National School, Curragha Summer Party: Come and join us for some fun, games, treats and music on Friday 20th June. Junior Infants to 2nd Class times ate .30 to 7 pm and 3rd to 6th classes 8 pm to 9.30 pm. Admission is €5 per child and parents are welcome for refreshments. Treats: Candy floss and popcorn for sale. This event will be supervised by the Parents Association. GORMANSTON Save Gormanston Beach. As many people would already be aware that there are plans to establish a new Deep-Water Port directly off the coast at Gormanston. Over the past few months a number of signs have also been erected around the Gormanston Village area by the Save Gormanston Beach Association who are totally against such a venture. This idea of establishing a Deep-Water Port in this area started way back in 2005 when it was first suggested that the actual site for the Port would be located on the Fingal side of the Delvin River Estuary and that the main phase of the Port would be along the Bremore Head area just to the north of Balbriggan. However, after a number of years this particular plan was dropped. However, in recent years it has now come to light that this new Port will actually be located out in the Irish Sea directly opposite the beautiful sandy beach at Gormanston. As part of and in association with the Save Gormanston Beach, Community Historian Brendan Matthews will present a special History & Heritage Walk n Talk on Sunday June 22nd next beginning on the south side of the Delvin Estuary at 2pm. From there Brendan will walk the group towards Bremore Head where he will speak about the arrival of the early Neolithic (Stone Age) farmers who arrived here at the Delvin Estuary almost six thousand years ago. This coastal area on either side of the Delvin Estuary contains a number of burial tombs that actually pre-date the great burial tombs of the nearby Boyne Valley. Brendan will explain who these Stone Age people were, where they had come from and why they settled here. This is a Free event and all are welcome to attend. The tour will last a little over an hour and will return to the starting point at the Delvin Estuary where Brendan will elaborate on the burial tombs that are located on the Meath side of the Delvin including one of the tombs which was opened and investigated back in the year 1840 and prior to the coming of the railway line. This will be a great opportunity to gain an insight into the wonderful archaeological riches we have here on our doorstep and will be of interest to both young and old: Sunday June 22nd at 2pm. JULIANSTOWN Contact Any news or items of interest contact Niamh at 086 3477283 or email niamhuiloinsigh@ Julianstown Tidy Towns Judging for Meath County Council Pride of Place takes place in Julianstown on Tuesday 1st July at 2.05 pm. Our judge is Aoife Munn who also judges for the Supervalu National Tidy Towns. Julianstown Tidy Towns Volunteers have commenced work in the village on Saturday mornings and Tuesday evenings. We have been replanting the raised beds in the village, cleaning the kerbs of weeds, and cutting back overhanging branches. Larry Lenehan has carried out a great clean up of the bridge wall – thanks Larry. Many thanks to Uniplumo for supplying the bedding plants for all the raised beds – they look wonderful. 14 planters have been placed all around the village and special thanks to those who have volunteered to water them throughout the summer. Meet in the Community Garden at 10.30 am on Saturday morning or join us on Tuesday evening at 7 pm. What's App group – Julianstown Volunteers Group for exact dates, times and where to meet up. . New members are always welcome, and we would appreciate any extra help you can give. Just wear appropriate clothing and footwear. Gloves and tools will be provided. Then afterwards enjoy a cuppa tea or coffee with the gang. Would you like to Volunteer for Julianstown Tidy Towns? There are lots of different way to get involved like volunteering at a local event or festival or supporting more urgent initiatives that come up from time to time. Contact us at julianstowndca@ or join our WhatsApp group - Julianstown Volunteers Group or phone Niamh on 086 3477283. Community Association Julianstown & District Community Association would like to congratulate Wayne Harding on being appointed Cathaoirleach of Meath County Council and Cllr. Caroline O'Reilly as Leas-Cathaoirleach. We would also like to take this opportunity to congratulate Cllr. Sharon Tolan on being elected Cathaoirleach of Laytown/Bettystown Municipal District and Cllr. Maria White on being elected Leas-Cathaoirleach. Active Retirement Association East Meath Active Retirement Association (EMARA) meet every Thursday in St. Mary's Church of Ireland Parish Rooms, Laytown Road, Julianstown from 2.30 pm to 4.30 pm each week. New members are always welcome to join this vibrant group of men and women. We have many events and outings lined up for the coming month. For more details contact Rose at 0868377033 and Eilish at 0863656951 . Adult Dance Classes Adult Dance Classes with Rachel Smyth will be held each Tuesday in the Julianstown Community Centre from 10am to 11am. Admission is €60 for a six-week term or €12 per drop-in class. Book now on 087 9420307 Julianstown Bowls Club Julianstown Bowls Club is recruiting new members. Why not come along to experience the game of bowls and have a very enjoyable evening, on Monday or Thursday from 8 to 10 pm in Julianstown Community Hall. Contact Sean on 086-8438803 or Marie 086-1525413. St. Mary's Church of Ireland All services 10.30 am. Sunday 22 June, Holy Communion Sunday 29 June: Service of Wholeness and Healing Parish Walk: It is hard to believe a year has passed since we had a parish walk. If the weather is fine, I suggest we meet again at Bellewstown Racecourse for a walk, this time on Tuesday 24 th June at 7.00pm. Bring your own refreshments! All ages and dogs welcome to join in! Charity Collections: The June collection will be for the Church's Ministry of Healing. Work around the Parish Rooms: the work around the parish rooms has been completed and everything looks lovely. Thanks again to the donor who made the paving work possible. A new fire alarm system has been installed in the church and the parish rooms. There is always some improvement or maintenance issue around our buildings! St. Mary's and St Patrick's Church Baptism Preparation: Our next preparation meeting takes place this Tuesday, 2nd September. If you wish to register your child for Baptism please contact our parish office. Parish Projects 2025: Repairs to the Roof and Gutters in St. Mary's Church are almost complete. We are awaiting the installation of the Facia and gutters. This Project was our last big project for our Parish for this year. In St. Patrick's Church, the upgrade of the heating system will take place in the coming weeks. All the work carried out in our Parish this year is made possible through your generous donations and support. Thank you and God bless you. Fr. Brendan. Plaque in St. Mary's Church: We are currently preparing information for the Plaque in St. Mary's. There is still time to include your intention on this Parish Plaque which will be placed in St. Mary's Church. This marble plaque will be erected in the entrance hall acknowledging all who donate towards projects. 'Benefactors' will be inscribed on the plaque. The plaque will ask all who read it to please pray for all benefactors and all the above named. If a person or family donate €500 or more, they can place their family name, or the name of a deceased loved one on the plaque. Donation sheets are available beside the Newsletters you can complete a Form and send the donation in an envelope or via bank transfer. Moorechurch Cemetery Mass and Blessing of Graves in Moorechurch Cemetery will take place on Sunday, 6th July at 11:30 am. As always, we ask that visitors to the Cemetery take their rubbish/dead flowers etc., home with them. We encourage this practice to ensure the cemetery is in perfect condition for all who visit. St. Patrick's GFHC Lotto Jackpot € 9,000 drawn on 10th June. Numbers drawn: 6, 9,11,24 No Winner. . Next week's Jackpot: €9,100.
Perth Now
4 days ago
- Business
- Perth Now
Australia faces ‘world of churn': Chalmers
Jim Chalmers has warned of a 'world of churn and change' that will impact the Australian economy as he outlines plans to see the nation through the current uncertainty. The Treasurer has warned 'the rules of trade have changed', meaning Australia will need to modernise its economy or risk living standards. In a speech to the National Press Club on Wednesday, the Treasurer is expected to warn the Australian economy will be impacted by the weakest global growth in two decades, spiking oil prices out of the Middle East and a new global order. Jim Chalmers warns of a 'world of churn and change'. NewsWire / Martin Ollman Credit: News Corp Australia 'It's a perilous moment there and that means even more perilous times for the global economy too,' he will say, referring to the Middle East conflicts. Mr Chalmers will highlight the IMF is currently saying trade uncertainty is seven times higher than just nine months earlier at a point higher than the pandemic. 'The rules and ideas that made up what we thought of as the global order are being rewritten,' he will say. 'This is the fourth economic shock now in less than two decades, a near permanent state of upheaval. 'Where shifts in energy, industry, demography and technology shape the bigger backdrop.' Despite the global backdrop, Mr Chalmers will say Australia can achieve its goals by modernising the economy and 'maximising our advantages.' 'In this world of churn and change we like our chances,' Mr Chalmers will say. 'But only if we make our economy even more resilient. 'By securing capital and shoring up supply chains, building more partnerships in our region and diversifying our trade and modernising our economy and maximising our advantages.' The Treasurer's speech will allude to pressures on global growth as outlined by the World Bank's latest forecast. Mr Chalmers warning follows a World Bank prediction of slowing economic growth. NewsWire / John Appleyard Credit: News Corp Australia Analysis released this week by the World Bank predicts global growth will slow to 2.3 per cent in 2025, down from 2.8 per cent this time last year. This is a downgrade of 0.4 per cent since the start of the year. If the World Bank's forecasts come true, this would be the weakest period outside of the worldwide recessionary periods of the GFC from 2007-2009 and the Covid pandemic at the beginning of the decade. The World Bank's bleak forecasts comes as the US GDP came in at negative 0.3 per cent for the first three months of the calendar year. According to the latest ABS figures, GDP rose in the March quarter by 0.2 per cent and 1.3 per cent year-on-year. But that anaemic growth was not enough to keep Australia out of a per capita recession, with the nation going backwards by 0.2 per cent per person. NED-9175-Australia's GDP Mr Chalmers will say the best defence to this slowing economy is to lift living standards, create a more productive economy and a stronger budget. He will discuss the upcoming productivity round table to be held in August. 'By now our shortage of productivity growth is well known and broadly understood,' he will say. 'Almost every comparable country has the same challenge. 'Our own productivity problem hasn't been with us for a couple of years, it's been with us for a couple of decades. 'In the ten years before the pandemic, productivity grew only half as fast as it had two decades earlier. 'The 2022 election coincided with the largest quarterly fall in productivity growth in almost half a century.' Mr Chalmers will say there was more work to be done, but it started with cutting taxes, boosting wages, restoring real incomes while also repairing the budget and fighting inflation. 'To deliver higher living standards for our people we recognise three blunt truths,' Mr Chalmers will say. 'Our budget is stronger, but not yet sustainable enough. 'Our economy is growing, but not productive enough. 'It's resilient, but not resilient enough – in the face of all this global economic volatility.'
