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 →
- 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.
- Australia’s central bank says currency may extend slide, keeps easing bias
The Reserve Bank of Australia said its currency may extend a 10 percent slide since April as the bank maintained its easing bias and kept its benchmark cash rate unchanged at 2.75 percent.
- Methven says FY profit fell about 21 percent on weak Australian trading
Methven, the tapware maker, says full-year profit fell about 21 percent on weaker trading in the Australian market.
- Food industry cooperation with Australia on the agenda
Australian Minister of Agriculture, Fisheries and Forestry Hon Joe Ludwig will visit New Zealand for bilateral and primary industries meetings over the next two days.
- Progress towards single market with Australia
Commerce Minister Craig Foss has welcomed the passage of a Bill that enables greater cooperation between the Commerce Commission and its international counterparts.