Christine Gaylican

Tony Burke, Minister of Federal Agriculture has announced that the government will not intervene with the China apple imports, dowsing hopes of the local apple industry.

The Australian government has dropped intentions for imposing 40 per cent tax on thriving mining profits on Friday, preventing a damaging row with key business players and paving the way for smooth national elections.

Australian Prime Minister Julia Gillard has announced that her government has reached an agreement with mining companies on a new resources tax.

The government has announced that it will extend the drawdown relief presently given to superannuation pensions that are account-based to the fiscal year 2010-2011.

John Borghetti, the new boss of Virgin Blue, has moved to take matters to his hands in trying to shift around the fate of its loss-making subsidiary, V Australia.

The government of Queensland has announced that it intends to push ahead with QR National’s public float despite coal companies’ offers to purchase the coal rail network.

River Murray irrigators in South Australia will start the new fiscal year with an opening allocation for irrigation at 21 per cent today.

Fortescue Metals intends to appeal Australian Competition Tribunal’s decision not to oblige Rio Tinto and BHP Billiton to open up their primary Western Australia rail lines to third party mining groups.

AGL Energy Ltd intends to buy out Mosaic Oil NL, a gas and oil exploration company.

Chalco, a Chinese owned mining firm, has put its plans to develop a Cape York bauxite mine worth $3 billion on hold.

At the start of today's session, a sluggish trading is still the general sentiment as there is not enough good news that could perk up the appetite of investors.

The government and the Australian mining industry have not reached an agreement regarding the proposed mining tax, but Treasurer Wayne Swan said discussions are continuing.

Australian mining firm Indophil Resources NL has committed to continue developing its Tampakan copper-gold project in the Philippines.

The Australian dollar advanced after news that bank lending strengthened in April and May. The Aussie dollar was at 85.21 U.S. cents as of 2:28 p.m. in Sydney, from 84.87 cents yesterday.

Downer EDI has rejected all claims that it is fidgeting with its operational funds to lift its end-of-year accounts.

Living in Australian cities offers good value for money and ideal for traveling expatriates in the Asia-Pacific, according to Mercer's Worldwide Cost of Living Survey 2010.

More than 200 experienced dairy workers will get laid off after National Foods announced that it would shut down its western Sydney plant.

Declaring that negotiations with the mining industry members are "good," Australian Prime Minister Julia Gillard will likely unveil a compromise with the sector on its planned tax measures.

Telstra Corporation Ltd, the Australian telecoms giant, has defended its intentions of offering exclusive content via Foxtel, provider of pay television, asserting that the deal was done at “arm’s length” and rejecting claims of non-competition reported by Fairfax.

Workers will keep more of their incomes beginning on Thursday as the federal government gives out the final stage of income tax cuts on July 1.

Northern Star Resources has signed a new deal with Intrepid Mines for Paulsens Gold Mine after renegotiating the offer to $40 million, an increase of $13 million.

Australian Prime Minister Julia Gillard will make an announcement on July 2 regarding a possible election in August, the Australian Broadcasting Corp. cited on its website.

A slight correction in the world financial markets may improve today’s value of the Australian and New Zealand dollars and break off from the sluggish trading now lasting for three weeks.

The Association of Mining and Exploration Companies has warned that it will continue with an advertising campaign against the Australian government’s proposed super-profits mining tax beginning next week should new negotiations buckle down.

China's lower copper stock piles gave copper prices a major boost, exceeding the $6,800 trading price, so far at its highest level in four weeks.

Asian markets have started with an early rebound on Tuesday led by finance and mobile phone makers. Its disclosure that it will buy back shares allowed Tokio Marine Holdings Inc. to gain 1.7 percent. Nippon Telegraph & Telephone Co., on the other hand, rallied 1.2 percent after it reported that its unit NTT Finance Corp. expects its first operating profit in three years.

Engineering company Downer EDI Ltd discloses it has sufficient available funds to liquidate despite reports that the company has withheld payment orders to meet targets for cash flow for the company’s financial accounts at the end of the fiscal year.

Japan has recorded an unexpected 5.2 percent increase in its unemployment rate further weakening household spending for the second month.

Futuris Automotive, the largest supplier of Holden, discloses it will be capable of returning a second shift at its Adelaide plant, in line with Holden’s move of resuming afternoon shifts at the automotive factory in Elizabeth.