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 →
- Vital Healthcare flags A$15.5M of Australian developments, sells NZ property
Vital Healthcare Property Trust, the country’s biggest listed medical and healthcare property investor, has signalled development plans totalling A$15.5 million in Australia, and has sold a New Zealand property as it looks to exit low-growth assets.
- Infratil downgrades guidance after Australian energy assets sale
Infratil, the infrastructure investor, has lowered earnings guidance for the coming year by as much as $40 million, reflecting the sale of its Australian energy assets.
- Australia’s Quattro in talks to buy Precinct and Goodman properties
Quattro Asset Management, an Australian fund manager, is in negotiations to buy two Auckland industrial assets from Goodman Property Trust and two office towers in Wellington and Auckland from Precinct Properties New Zealand
The Sydney-based investor is in talks with Goodman to buy its Enterprise Park at Wiri and SuperCheap Auto, part of the Savill Link Estate in Otahuhu, Goodman (NZ), the manager of the Auckland-based property investor, said in a statement.
- IAG mulls closing all but one of its State branches, affecting 91 jobs
Insurance Australia Group may close all but one of its 22 State branches in New Zealand a bid to consolidate its national direct insurance network as more customers phone or turn online for assistance.
- Australia’s central bank cuts key rate to 2.5 percent, matching RBNZ
The Reserve Bank of Australia cut its cash rate by a quarter point to 2.5 percent as expected, matching its New Zealand counterpart’s official cash rate for the first time in more than four years and lifting the relative appeal of the kiwi.