Australia’s free trade agreement with China heralds a renewed focus to diversify the country’s economy away from a reliance on mineral exports to soft commodities and intensifies competition in a “hotly contested” market.… Full Story →
Australian Treasurer Joe Hockey talks up his country’s potential to be the “world’s number one energy exporter” within the decade but China’s ban on the sale and import of coal with high ash or sulfur content may impact forecast returns.… Full Story →
The Australian is today reporting that Australia is on track to sign free-trade agreement with China at about the time of the November G20 meeting in Brisbane, after the latest round of negotiations left senior ministers believing the deal can be clinched by the end of the year.… Full Story →
THE reported beheading of British aid worker David Haines by so-called Islamic State terrorists was, as British Prime Minister David Cameron said, “an act of pure evil’’.… Full Story →
Australian state governments spent A$17.6 billion on subsidies for mineral and fossil fuel industries over six years, including A$8 billion to help transport coal, according to a report.… Full Story →
Kevin Rudd’s new chief of staff Jim Murphy has strong links with New Zealand’s policy and business elites, even if his boss doesn’t.… Full Story →
The New Zealand and Australian governments should settle once and for all the long-running argument over the tax treatment of imputation credits, which currently penalises trans-Tasman investors, says a new report from the two country’s productivity commissions.… Full Story →
- NZ dollar rises against Australian dollar ahead of RBA minutes
The New Zealand dollar rose to its highest in more than a week against the Australian dollar as traders await the release of the minutes for the last Reserve Bank of Australia meeting for clues on whether more interest rate cuts are ahead.
- Fulton Hogan 1H earnings dip on weak Aussie economy
Fulton Hogan, the privately held construction firm, says first-half pre-tax earnings dropped 10 percent as Australia’s economic woes kept a lid on spending in the resources and state sectors, while the strong kiwi dollar eroded profit earned across the Tasman.
- ACCC appeals Air NZ, PT Garuda win in Australian cartel case
The Australian Competition and Consumer Commission is appealing am Australian Federal Court ruling clearing carriers Air New Zealand and PT Garuda Indonesia of fixing prices for international air freight services.
- Freightways buys Australian legal information firm LitSupport for up to A$30M
Freightways, the listed courier and data management company, will spend up to A$30 million on Australian information management firm LitSupport.
- RBA says Australian dollar near 4 1/2-year low needs to fall further
The Reserve Bank of Australia said its currency, near a 4 1/2-year low, remains over-valued and needs to decline further to assist the economy across the Tasman, which is growing at a moderate pace.