Chile’s Copper Mines Threatened by Drought
The raging two-year drought that continues to affect Chile has made copper producers concerned as to how to source electricity generation to adequately support their operational requirements.
Chile’s Copper Mines Threatened by Drought
The raging two-year drought brought by La Niňa that continues to affect Chile has made copper producers concerned as to how to source power generation to adequately support their operational requirements.
Australian Stock Market Report - Midday 2/16/2012
The Australian share market lost ground from the open of trade today, in line with falls on the U.S. markets overnight. All Ordinaries Index (XAO) is down 1.5 pct or 64.4pts to 4263 at lunchtime. All market sectors were in the red with the biggest slides occurring in the S&P/ASX 200 Materials sector off 2.17 pct and the best performing sector of the day being the S&P/ASX 200 Telecom Services sector helped by market heavy weight, Telstra Corporation Limited (TLS) up $0.02 to $3.43 cents a share a...
Australian Stock Market Leads 02/16/2012
Tuning out the uncertainty cast by the Greek debt default and further quantitative easing in the U.S. will be difficult for the local Aussie markets to overcome on Thursday as profit-taking dominates in the early hours of trade and signalling a sluggish start.
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ACCC Orders Telstra to Lower its Wholesale ADSL Pricing
The Australian Competition and Consumer Commission (ACCC) ordered on Tuesday giant telco Telstra Corporation to reduce the wholesale pricing of its asymmetric digital subscriber line (ADSL) service.
PM Gillard: We Are Bridging the Gap with Indigenous Australians
Australia has further improved on the social condition of its indigenous population four years after the country expressed its deep regret over the disadvantages suffered by the nation's original settlers.
India Hopes Inflation Will Go Lower, Targets 6% for March
Indian Finance Minister Pranab Mukherjee admitted that the country's inflation rate is still at a high and hopes that it could lower in March.
Australian Stock Market Leads - 02/15/2012
The Australian stock market on Wednesday will try to put away the lacklustre sentiments generated by the U.S. and European indices overnight with a focus on a few earnings reports due to be released today.
Australian Dollar Outlook - 02/15/2012
Bell FX Currency Outlook: The Australian dollar traded in a choppy fashion overnight, in sync with its European counterpart, after yesterday's sovereign ratings downgrades by Moodys.
Global Markets Overview - 02/15/2012
From MORRISON SECURITIES PTY. LTD:
U.S. stocks fell Tuesday as investors considered weaker-than-expected retail sales data and watched for progress in Europe over Greece's debt.
Murchison Metals Investors Approve Sale of Iron Ore, Port and Rail projects to Japan Mitsubishi Corp
Shareholders of Murchison Metals have approved on Monday the sale of the company's 50 percent interest hold in the Jack Hills iron ore mine and its affiliated Oakajee Port and Rail project in Western Australia to joint venture partner, Mitsubishi Corp of Japan. The deal was worth A$325 million ($347 million).
$177 M Takeover Bid for Australia’s WestSide Corp Heats Up; Shares Jump 50%
An undisclosed company has offered a A$165 million ($177 million)takeover bid to WestSide Corporation, one of many coal-seam gas (CSG) exploration companies in Australia's Queensland state, effectively prompting shares of the company to jack up on Tuesday.
Australian Stock Market Report - Afternoon 2/14/2012
The Australian market wiped out yesterday's gains and fell 0.9 pct or 40.5 pts to 4318.9. Yesterday, global markets performed well following the Greek parliament's decision to pass tough new austerity measures.
Wellington Basin Reserve Grandstand Marked Earthquake Prone
The 88-year-old grandstand at the only historic cricket ground in Wellington has been marked with an 'earthquake prone' warning by the city council. The Basin Reserve grandstand is now being assessed to find out the extent of work needed to make it safer in the event of an earthquake.
Lower Nickel Prices Affect Western Areas; Gillard Vows Support for Aluminium Sector
Nickel miner Western Areas reported on Tuesday a 64 per cent decline in its first half net profit due to lower prices of the commodity. From July to December 2011, the firm logged a $24.1 million net profit, down from $67.2 million compared to the same period a year ago.
Two, New Same-Sex Marriage Bills Introduced in Parliament
Despite the prospect of defeat meeting their initiatives, two Australian lawmakers introduced separate bills on Monday supporting the federal legislation of gay union in the country.
South Korea’s KOGAS Needs Total 36 mln tonnes LNG in 2012
Korea Gas Corp (KOGAS), South Korea's state-run gas company, announced on Monday it would be importing in 2012 a total of 36.46 million tonnes of liquefied natural gas (LNG), or 1.6 trillion cubic feet of natural gas, presumably to ensure a steady and constant supply of the commodity for domestic purposes.
Brisbane Aims to Double City Economy Within 20 Years
Brisbane Lord Mayor Graham Quirk announced on Tuesday an ambitious 20-year plan that aims to double the city's economy to $217 billion by 2031. The growth, which includes boosting job creation, would ride on the back of the state's resources boom.
Gillard Denies Having Prepared Speech During Rudd’s Ouster in 2010
Prime Minister Julia Gillard insisted on Tuesday that her acceptance speech was not prepared two weeks before she assumed the post vacated by Kevin Rudd, belying an earlier interview that suggested otherwise.
Carmaker that Laid Off Workers Grants 22% Pay Hike
While hundreds of jobs continue to be shed across Australia since the start of February as businesses complain of the strong currency and weak consumer confidence, workers in Holden would enjoy up to a 22 per cent wage increase spread over the next three years.
RBA: Banks Lift Mortgage Rates Due to Higher Funding Costs
Rising funding costs prompted major Australian banks to lift their mortgage rates despite the freeze on cash rate imposed last week by the Reserve Bank of Australia (RBA).
NAB, Commonwealth Also Raise Interest Rates
National Australia Bank (NAB) and Commonwealth Bank on Monday joined ANZ Bank and Westpac in raising their interest rates. That means the big four had decided to be independent of the Reserve Bank of Australia's (RBA) overnight cash rate decisions.
Australian Dollar Outlook - 02/14/2012
Bell FX Currency Outlook:
The AUD rallied yesterday after the Greek Parliament passed the austerity measures required by the European Commission, but failed to breach 1.0800.
Australian Stock Market Leads - 02/14/2012
The Australian stock market is seen heading for a slow but steady start on Tuesday with the positive global markets performance extending limited gains on commodities and other risk-related assets.
Global Markets Overview 02/14/2012
Stocks added to gains and hit session highs in afternoon trading, buoyed by the adoption of austerity measures by Greece's Parliament. The Dow Jones Industrial Average was recently ahead 82 points, or 0.6%, at 12884. The Standard & Poor's 500-stock index advanced 10 points, or 0.8%, to 1353, and the Nasdaq Composite gained 29 points, or 1%, to 2933.
Australian Stock Market Report - Afternoon 2/13/2012
The Australian sharemarket has kicked off the new trading week higher, with the All Ordinaries Index (XAO) up 0.9 pct or 36.8 pts to 4359.4. Futures were initially pointing to a slightly lower start to trade, however turned positive once the Greek parliament passed new austerity measures despite a number of violent protests in seven Greek cities.
Wellington Raises Awareness on Endangered Sea Lions
A hundred life-sized sea lion cut-outs are displayed on the shores of Wellington's Oriental Bay on Monday as a conservation organization calls on the public and the government to protect the critically endangered New Zealand sea lions.
Commodities to Hit Wall If China Falls Into Recession
Commodities from copper to crude oil, in three years to five years, may plummet anywhere from 50 per cent to 70 percent from existing level prices as a domino effect of a China potentially falling into a recession by 2015, a mutual fund CEO said.
Japan’s LNG Imports Grew in January; Indonesia Interested in U.S. Natural Gas
The Federation of Electric Power Companies of Japan on Monday said the country had imported a total of 5.23 million tonnes of liquefied natural gas (LNG) in January, compared over 4.12 million tonnes a year earlier.
Global Airline Group Calls on UN Body to Avert Likely Trade Dispute Between EU, China
A looming trade war between China and the European Union over the latter's carbon pricing scheme is the least that the world needs at this time, with major economies already reeling from the effects of the widespread debt crisis in the euro zone, according to the head of the International Air Transport Association (IATA).
Report: Labor Lags Behind Liberal on Economic Approval
Prime Minister Julia Gillard appears to be losing her sheen in the money department as new data released by Newspoll showed that Australians now lean heavier on the Coalition bet, Tony Abbott, as the better economic manager.
Commodities Markets Summary: Treading the Crucial Lows
On Friday, most of the world's crucial commodities line-up was down spurred by weak Chinese economic data, losses in the euro and renewed problems in Greece over a failed negotiation for its bailout deal.
Commonwealth, NAB to Launch Review of Interest Rates
The big four are apparently determined to veer away from the Reserve Bank of Australia's (RBA) overnight cash rate policy. The Commonwealth Bank of Australia (CBA) and National Australia Bank (NAB) are expected to launch a review of their interest rate after Westpac and ANZ Bank hiked their rates on Friday.
Official Data Confirm China’s Exports, Imports Down in January
Official data from China's Bureau of Custom confirm that exports and imports by the world's second-largest economy had indeed fallen this January from a year ago.
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