ECONOMY

Australia must prepare as early as now for the end of the mining boom or else feel the wrath of internal and external pressures on the monetary and fiscal situation of the country, Reserve Bank Governor Mr. Glenn Stevens said today.

New figures released by the Australian Bureau of Statistics (ABS) on Friday pieced together the roller-coaster ride experienced by Australian businesses during the global financial crisis that sunk much of its pangs on the local economy from late 2008 to the best part of 2009.

A decline in new business registrations sent the number of actively trading businesses in Australia 1 per cent lower in 2008/09, according to data released today by the Australian Bureau of Statistics (ABS).

The drought that crept on much of the state for a ten-year run has been officially declared as over yet majority of New South Wales growers are still wary about the prospect of farming in the region.

Australian consumers are looking to reduce their lifestyles through simpler living amid pressures of heavy debts, new research shows.

Job opportunities for Australians seeking employment within the resource sector are hitting new highs as the industry recovers from the global financial crisis, according to new research.

The policy rates will definitely move up and it’s only a matter of time as far as the Reserve Bank of Australia (RBA) is concerned, as shown by the Tuesday release of the central bank’s October 5 board meeting minutes.

Christchurch City of New Zealand and its surrounding district were once again hit by a magnitude 5 earthquake, almost six weeks after the high intensity tremor rocked the island-nation.

Strong demand for resources-based construction and major infrastructure projects is expected to drive an upturn in the construction sector over the course of 2010/11 and 2011/12.

Many Australian firms are finding it hard to cope with their payables and stretch more time to make payment in the September quarter, leading businesses to worry that cash flows could be restricted amidst efforts for a significant turnaround on the current year.

The steady but relatively low level of unemployment rate in Australia could lead to business slowdowns and render the federal government’s infrastructure initiatives quite vulnerable.

Tourism journalist Simon Anhalt added unsolicited colour on the prospects of Australia’s tourism industry when he labelled the country as the ‘dumb blonde’ in the sector for its attention-grabbing but bland allure.

Continued consumer disinterest in traditional shopping periods threatens the recovery of Australia's retail industry.

The Australian Tax Office (ATO) issued an advisory on Thursday warning the existence of near-perfect counterfeit cheques that currently circulates across the nation, supposedly under the auspices of the tax office and the Reserve Bank of Australia (RBA).

No more holiday tours to meet mortgage payments have become the norm for a great number of Australian homeowners, with about 50 percent more revealing that day-to-day basic requirements were being trimmed to cope with the upward surge of housing interest rates.

Australian consumers are bracing for higher inflation in the year ahead, increasing chances of official interest rate hikes by the central bank to cap prices.

Total personal finance commitments slid 0.3 per cent, seasonally adjusted, from $7.410 billion in July to $7.392 billion in August, the Australian Bureau of Statistics (ABS) said on Wednesday.

The Australian central bank’s move to opt for another pause on its policy rates in October apparently sparked a rise in consumer confidence that fresh data indicated has well exceeded the benchmark for spending optimism.

A shaft nearly half a mile long stands to be reinforced since it is the only way out now for 33 miners of the San Jose gold and copper mine in Chile. Rescue efforts and the events that led to the collapse of the mine roof should be noted as a learning opportunity for mining companies in Australia.

Reserve Bank of Australia (RBA) interest rates are running at an average of 4.732 percent since February 2008, the year when the global financial crisis (GFC) hit hard.

The Australian Bureau of Statistics announced today an extra 49,500 people were hired in September, more than double the 20,000 jobs predicted by analysts.

Key management positions remain elusive to working women in top 200 Australian companies.

Depression resulting from job strain is pulling down the economy by $730 million each year.

Activity in Australia's services sector slowed for the fifth consecutive month in September, according to data released on Tuesday.

Cafes and restaurants, which are again leading the charge with an increase to retail figures of 0.3 per cent, cloud the reality of a low 0.1 per cent rise for the rest of the sector, according to the Australian National Retailers Association (ANRA).

Investors are on a waiting mode, at least until after the Reserve Bank of Australia’s (RBA) anticipated policy rates announcement today, as the Australian bond market opened on Tuesday a bit jittery and somewhat weak on economists’ projections that a lift is in the offing.

Four-wheel drives fueled the record sales numbers of motor vehicles seen in September as the Federal Chamber of Automotive Industries reported on Tuesday that Australia’s motor vehicle sales would most likely soar beyond the one million mark on the current calendar year.

Rains may have exceeded forecast earlier set by Australia’s climatologist but the Bureau of Meteorology (BOM) said on Friday that the great amount of rain that poured on much of the country would not offset the alarming possibility of severe dry years ahead, which could also affect the country’s short-term agribusiness outlook.

A survey of Macquarie Equities Research shows hiring and recruitment in the financial services industry will boost demand in office space.