POLITICS & POLICY

Govt offers $5000 car write-off for small businesses

Recognising many small business operators are doing it tough in a patchwork economy, the Australian government is providing small businesses with an instant tax write-off of the first $5,000 of any motor vehicle purchased from 2012-13.
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Bank inquiry to rethink mortgage exit fee ban

A review of the present ban on mortgage exit fees and setting a standard fee for wholesale funding guarantee for banks are included in the series of modifications caused by the Senate inquiry into competition in the Australian banking.

Australia moves to protect vast south-west oceans

Environment Minister Tony Burke announced on Friday that the federal government has declared some 538,000 square kilometres of Australia's south-west oceans as marine protected areas. This means, all fishing activities in the protected zones are prohibited.

Police hunts Filipino car smuggler of U.S. stolen cars

Philippine authorities have launched a manhunt against a Filipino behind the smuggling of a fleet of luxury vehicles believed to be stolen from the U.S., with one expensive "chopper" belonging to a Hollywood scriptwriter.

Victoria government suspends licence of Showgirls Bar 20

The Victorian Civil and Administrative Tribunal (VCAT) on Wednesday cancelled the liquor licence of notorious Showgirls Bar found in the central business district in Melbourne, ending a long legal battle by the Victoria Police against the strip joint.

Home sales rise in March

New homes sales jumped 4.3 percent in Australia in March, bringing to three consecutive months the sector registered gains which paints a positive outlook into the domestic housing market.

ADB meet to tackle world monetary system reforms

A high-level seminar to discuss possible reforms in the international monetary system to make it more capable of promoting greater global monetary and financial stability will be held Wednesday during the annual governors’ meeting of the Asian Development Bank (ADB) in Hanoi, Vietnam.

RBA keeps key rates at 4.75%

Taking its cue from the inflation jitters set by other neighbors in the Asia-Pacific Region, the Reserve Bank of Australia has maintained the country's benchmark rates steady on the fifth straight meeting at 4.75 percent.

Australia central bank keeps rates on hold at 4.75 pct

The Australian central bank on Tuesday has announced it would keep its main cash rate steady at 4.75 percent as expected. But analysts predict the decision might temporary as the government might raise interest rates later in the year to keep inflation in the light of massive trade and mining boom.

8 Interesting Facts About Osama bin Laden’s Compound

Osama Bin Laden was living for the past few years not in a cave as many thought, but in a relatively luxurious compound in Abbottabad, a town 32 miles (51 km) north of the Pakistani capital Islamabad. Here are interesting facts about his hideout:

Pakistani blogger ‘tweets’ live update on bin Laden’s attack

A Pakistani IT consultant "taking a break from the rat race by hiding in the mountains" unwittingly posted a stream real-time updates on Twitter of the attack at Osama bin Laden's mansion in city of Abbottabad without realizing it was a well-planned raid by U.S. forces against the world's most wanted terrorist.

Pressures on in Pakistan after bin Laden’s death near capital

The Pakistani government quickly hailed the death of Osama bin Laden as a "major setback" to global terrorism, but the killing of the world's most notorious terrorist near its capital Islamabad is seen to increase pressure to Pakistan which has long been suspected of aiding terrorist groups.

American taxpayers spend billions in the hunt for bin Laden

Ten years into the hunt against the world's most feared and hated terrorist, Osama bin Laden was finally killed in an encounter with U.S. forces at a mountain tourist town of Abbottabad, Pakistan. But the hunt for bin Laden has cost American taxpayer hundreds of billions of dollars, excluding the hundreds of billions more allocated to other parts of the budget used to strengthen domestic security.

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