Australia

By Paul McBeth Oct. 23 (BusinessDesk) – Vital Healthcare Property Trust, the listed hospital owner and developer, has bought two parcels of land which it plans to develop to expand Lingard Private Hospital and Toronto Private Hospital, both in New South Wales, Australia. The property investor spent A$7.8 million for a 2,700 square metre property next to its Lingard site …

By Jonathan Underhill Oct. 22 (BusinessDesk) – The Australian government’s response to the financial system inquiry could drive up interest rates at New Zealand’s biggest lenders as their Australian parent banks seek higher returns because of the requirement that they hold more capital. The Australian Federal Government has largely accepted the recommendations of the inquiry set up in late 2013 …

The announcement came through overnight that trade officials from New Zealand, the United States, Japan, and 9 other Pacific rim nations have agreed after years of negotiations on the largest regional trade deal in history. NZ INC. has compiled the best tweets of the web on the Trans-Pacific Partnership deal, so that you don’t have to.   Beef + Lamb New Zealand …

Several Milford Asset Management funds are invested in beleaguered Australian law firm Slater & Gordon, whose share price dropped 25 percent yesterday after it said errors had been uncovered in the financial reporting of historical cash flow at its UK business. The ASX-listed law firm is in the middle of a A$1.3 billion acquisition of UK-based Quindell Plc, whose shares were suspended last week as regulators …

The New Zealand government is still pushing for a shared trans-Tasman tax scheme recognising imputation credits on dividends, which it says is the single biggest step to a closer economic relationship, but is willing to give Australia time to bring it in. In a submission to Australian Prime Minister Tony Abbott’s white paper on tax reform, the New Zealand government resumed its …

The New Zealand dollar traded close to parity with the Australian dollar amid speculation weak Australian inflation data today could push it through the historic milestone. The kiwi touched a record against the euro on concern about whether Greece will exit the common currency. The kiwi hit 99.59 Australian cents overnight and was trading at 99.51 cents at 8am in …

The China/Australia Free Trade Agreement, or “CHAfta” as it is being called, gives Australian dairy farmers much better access to the Chinese infant formula market, which they have been beaten out of by the New Zealanders in recent years. Agricultural sector writer Alan Emerson recently noted that in 2009 New Zealand and Australia produced approximately the same amount of milk. …

There can be little doubt that the Australian’s have pulled off a rather remarkable piece of diplomatic manoeuvring to strike what appears to be such a comprehensive and far reaching Free Trade Agreement with the Chinese government. The broadly based FTA includes agreement on areas including Agriculture, Resources, Service industries, Investment and Worker mobility. Few expected anything so extensive or …

New Zealand’s recently signed Free Trade Agreement with Korea is a positive step in freeing up our trade relations and represents an absolute bottom line for the quality of outcomes for further agreements.  “We appreciate how difficult it has been to reach an agreement with Korea, and are pleased to now be on a level playing field with our trade …

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. The Chinese Government’s crackdown is in response to the heavy pollution in Shanghai and Beijing and social unrest in many …