Erik Pineda

China’s central bank has indicated over the weekend that the yuan would be more flexible in the coming days, though it gave clarification that significant changes should not be expected and at the last check, the Chinese currency still stands at about 6.8 against the US dollar.

Finance Minister Lindsay Tanner informed the parliament on Monday that the billion-dollar deal between the federal government and Telstra would directly benefit the telco’s shareholders.

GUD Holdings Ltd offered up to $83.8 million to takeover Dexion Ltd in bid to diversify the company’s portfolio even as Dexion hinted on Monday that its board of directors are ready to accept the proposal.

Australia and China inked new trade deals amounting to $10 billion that would cover mostly the resources and energy sector with some provisions for telecommunications, training and a quarantine protocol in exporting Tasmanian apples to China.

Sales of new motor vehicles slid by 3.2 percent in May, according to the latest figures furnished by the Australian Bureau of Statistics (ABS) on Monday, but CommSec economist Savanth Sebastian characterised the decline as a mere statistical hiccup and not an indicator of weakening consumer confidence.

Grange Resources reported today that no further rockfalls occurred so far on its Savage River ore mine pit, located in Tasmania’s west coast, since close to half million tonnes of rock cascaded down to the site on Thursday last week.

There is a likelihood that the federal government’s fresh partnership with Telstra on the National Broadband Network project could be derailed as the telco giant announced today that it can scrap the deal once its demands embodied in the agreement do not materialise.

The World Bank said in its report released on Friday that China is indicating symptoms of moderating growth following a solid recovery last year, largely fuelled by stimulus programs though it noted that the country’s economy has remained strong, propped up by real estate investment and stronger export demand.

Brierty Limited said on Friday that it has contracted four new deals reaching $25 million to deliver civil construction services in the northwest part of Western Australia.

The Council of Social Services in Tasmania voiced out concerns today that residents of the state could be hit by spikes in the price of electricity as the state government announced changes in the power industry which includes permission for Aurora Energy to recover its operating costs.

The ANZ Banking Group has announced on Friday a memorandum of understanding (MoU) with China Development Bank (CDB) to increase trade and investment between China and New Zealand.

Prime Minister Kevin Rudd said today that he will not sit down with the mining industry just because of the election as he discounted the possibility of an early voting in light of the government’s plummeting popularity because of the proposed mining tax.

MAp Group said on Friday that passenger numbers grew on all of its three Australian and European airports in May as normal operations resumed in the aftermath of the volcanic cloud that covered much of Europe in April.

The Kimberley Land Council (KLC) has threatened legal suits against Foxtel, National Indigenous Television and Goolari TV for airing last week Julie Nimmo’s film, ‘Divided by Gas’, alleging that it carries defamatory statements from former High Court Judge Murray Wilcox.

AXA Asia Pacific Holdings Ltd (AXA APH) chief executive Andrew Penn said on Thursday that the global financial crisis had sparked shifts in the world’s financial service industries which could lead to further merger and acquisition activities in the financial sector.

Trafford Resources Ltd said on Thursday that it plans to issue new renounceable shares amounting to $3.75 million in order to fast track its iron ore project in South Australia.

Federal Reserve Chief Ben Bernanke said on Wednesday in a speech in New York that financial regulators must prioritise market stability as he warned that failure of interwoven financial companies could dislocate the financial system and the economy as a whole.

Australia’s eastern states can look forward for their winter crops best ever start in several years as the Australian Bureau of Agricultural and Resources Economics (ABARE) reported in its latest forecast that March and May saw the most widespread above-average rainfall since 2003.

Rio Tinto Ltd said on Wednesday that the company is re-assessing its existing Australian projects for a worst-case tax scenario possibility as it studies the effect of the proposed resources super profits tax on future growth projections.

Federal Treasurer Wayne Swan told business executives gathered in Canberra on Wednesday that Australia’s continued economic expansion can never be attributed to sheer luck but on its government’s foresight and political will to do what is right for the sake of the national interest.

Brazil’s mining giant Vale said on Wednesday that Aquila Resources Ltd’s latest moves could eventually lead to delays and frustrations on their joint coal project in Queensland as managing director Decio Amaral emphasised that the company merely wants to proceed with the feasibility study it is proposing.

New Zealand-based SBS Bank, formerly the Southland Building Society, has reported Wednesday an operating surplus of $NZ19.4 million or $A15.67 million in the year leading to March 31, coming from the $NZ18.5 million or $A14.94 million surplus it posted last year.

Coalspur Mines Ltd said today that it is set to acquire new coal leases next to its existing Hinton project in Canada as the company revealed that the new acquisition would be funded by current cash reserves plus some project funding facility from the Highland Park Group.

Analysts are predicting that the economy would modestly grow in the second half of 2010 following the decline of a leading index, which predicts the possible pace of economic activity from three to nine months ahead.

The federal government may be ready after all to adjust some elements of the mining tax to accommodate the needs of the various parts of the resources industry as Resources Minister Martin Ferguson gave hints that even Prime Minister Kevin Rudd gets some pressure from the Labour party to forge a compromise with the mining sector.

IGMarkets Australia Ltd has expressed confidence on Tuesday that its local contracts-for-difference (CFD) trading presently stands on solid ground as it gave assurance that ample disclosure of risks are being observed and the company even procedurally vet all clients who open accounts.

A pack of 25-stick cigarettes would soon cost smokers $14 and they have the Senate to thank for as the chamber passed and formalised on Tuesday the Rudd government’s earlier decision to raise cigarette excise tax.

A lower mining tax should enable Australia to fiercely compete with other mining countries and any planned taxes on the industry should not be compared with the petroleum industry, that according to Access Economic director Chris Richardson.

Aquila Resources Ltd is fighting anew with its Brazilian partner, Vale and this time the two companies are in dispute over the approval of part of their proposed 2010/11 budget to start the construction of their Eagle Downs coal joint venture in Queensland.