The unprecedented nature of the pandemic continue to shape international fiscal policy

 
As reserve banks and federal reserves continue to battle the impacts of Covid-19, inflation has become a dominate issue.

In some parts of the world, rising household costs have slowed consumer spending by more than expected.

It means the end of aggressive rate hikes could come to an end in a matter of months.

In Australia, recent data from the Australian Bureau of Statistics confirmed inflation has passed its peak and is beginning to moderate.

The numbers show annual inflation peaked in December 2022 but will still remain higher for longer than anticipated.

Matt Grudnoff is a Senior Economist at The Australia Institute, who said these are uncharted waters.

“I don’t think they should be fully blamed.

“The pandemic was an entirely different kind of recession, one that we have never seen before.

“The world went into recession because the world shut down for very good health reasons.

“But the economy rebounded extremely quickly, simply because there was no underlying problem with the economy,” he said.

Artificial Intelligence has become an increasingly powerful and pervasive force in our modern world.

 
Artificial intelligence is not a new concept. However, the growing advancements have the potential to revolutionise industries, improve efficiency, and enhance the quality of life.

Along with its promising advancements, artificial intelligence also brings certain risks and challenges that must be acknowledged and addressed.

It has become the focus of lawmakers, who are working towards greater regulation of the sector.

U.S. and European Union officials recently met in Sweden to weigh up the benefits and challenges of artificial intelligence, and other emerging technologies.

“The AI process is creeping up on us,” said Dr Keith Suter, who is a global futurist.

“You’ve got competition between companies.”

It’s almost like some of us can see this raft that’s heading towards the rapids and a disappearance towards the waterfall, and we’re giving a warning but it’s not being heeded because everybody’s in this race to get down to the river,” Dr Suter said.

A lie-flat seating concept in economy is making waves for the world’s best airline

One of the world’s premiere safety and product rating websites, AirlineRatings.com has announced its 2023 Airline of the Year.

Air New Zealand won the award for its exceptional achievements in in-flight innovations, which include the upcoming Skynest beds in the Economy cabin, its environmental leadership, and the dedication of its staff.

Air New Zealand Chief Executive Officer Greg Foran said the recognition acknowledges his remarkable team.

“We owe our success to the dedication and hard work of our 12,000 Air New Zealanders who wake each morning to connect Kiwis with each other and the world.

“This award belongs to them for their grit, commitment, and the exceptional service they deliver every day.”

Air New Zealand nudged out previous winner Qatar Airways (2021, 2022) Etihad Airways, Korean Air and Singapore Airlines for the top spot.

The AirlineRatings.com Airline Excellence Awards are judged by five editors, who boast decades of industry experience.

Airlines are judged across 11 key criteria including fleet age, passenger reviews, profitability, investment, product offerings, and staff relations.

“It is a sign that we have got our swing back and that our relentless focus on doing the basics brilliantly and delivering our Kia Mau strategy with precision and ambition is working,” Mr Foran said.

However, he explained there are ares for improvement as the global travel sector recovers from the height of the pandemic.

“As with many airlines worldwide, we understand that our fantastic team faces difficulties in providing the service we strive for and that our customers expect. We’re working hard to address these challenges.”

Air New Zealand won Best Economy Class, while Qatar Airways picked up Best Business Class for the fourth-year running and Best Catering.

Singapore Airlines received the Best First Class award, while Virgin Australia/Virgin Atlantic won Best Cabin Crew.

Best-In-Flight Entertainment and Best Premium Economy went to Emirates, while Qantas was recognised for Best Lounges.

Geoffrey Thomas is the Editor-in-Chief at AirlineRatings.com, who said there was tough competition.

“In our objective analysis Air New Zealand came out number one in many key areas although it was a very close scoring for the top five.”

The awards also recognised the world’s Best Low-Cost Airlines.

Southwest Airlines won in the Americas category; while Fly Dubai (Middle East); AirAsia (Asia); Jetstar (Australia/Pacific) and Ryanair (Europe) all won in their respective regions.