Erik Pineda

The federal government has expressed confidence that Telstra would eventually become a partner for its national broadband network project which should reduce its mammoth cost once the rollout begins.

Alumina Ltd has reported Friday that market outlook for 2010 is far better though still falling short on levels seen in 2008, as chief executive John Bevan told shareholders gathered for a general meet in Melbourne that company outlook this year is much more positive for the market.

With an onslaught of new orders and flat building increase, the construction sector turned into a beehive again in April as a new survey by the Australian Industry (Ai) Group-Housing Industry Association (HIA) performance of construction index (PCI) surged from 4.8 points in April to a seasonally adjusted 55.8 points.

The $25 million study on the national broadband network commissioned by the federal government has revealed on Thursday that the project is doable within the allocated $43 billion budget and should be up and running within its eight year time frame.

Mobile company Vodafone Hutchison Australia (VHA) has announced Thursday that it has acquired the services of Nokia Siemens Network to run the company’s network operations which covers equipment supply and service management.

In a bid to encourage healthier competition in its territory, the ACT government has recently released land for five supermarkets in a move that adheres to its Supermarket Competition Policy Implementation Plan recommended last year by former ACCC commissioner John Martin.

Available jobs in Australia shrunk a bit in May amidst the uncertainties still faced by many companies as more job opportunities could further disappear should the mining industry continue its plans to cancel lined up projects in light of the planned resource rent tax by the federal government.

The opposition has announced today that they would vote against the new mining tax as resistance against the 40 percent super tax continued snowballing with some companies sounding alarm that they may be forced to either shut down existing projects or hold off explorations already lined up this year.

Australian car maker Holden has reported on Tuesday that total sales for its Cruze compact car peaked to 2,514 units in April, the company’s best monthly turnover so far since the new model was introduced last year and as the company aspires to eventually locally-assemble the increasingly popular model by next year.

The Australian Bureau of Statistics (ABS) has reported on Wednesday that building approvals in Australia has increased by 15.3 percent to 16,383 units in March from the 14,208 units in February, which economists attributed to rushes of acquisition in flats and townhouses.

Shopping centre giant Westfield Group has reconfirmed its 2010 guidance on Tuesday and revealed of new development projects in Australia and the US that could reach $1 billion even as slowed down sales and lacklustre growths were seen on the company’s local and worldwide operation.

Critics are accusing the Northern Territory government of using taxpayers’ money to keep the Power and Water Corporation afloat as budget papers showed that the government has agreed to series of debt equity swaps with the corporation amidst the major upgrades that the company is currently undertaking.

The Housing Industry Association (HIA) in Tasmania has scored the latest Reserve Bank of Australia (RBA) move to increase the official interest rates by 25 basis points, which prompted the country’s four major banks to pass on the hike to unsuspecting home buyers.

Vodafone Hutchison Australia (VHA) is upbeat that its stellar performance since the company’s formation in June 2009 will be sustained down the line in 2010, as the country’s third largest telco announced on Tuesday that it has started working on long-term branding and network strategies.

Cape Lambert Resources from West Australia has announced that its exploration activities in the Pilbara region has been cancelled following the federal government’s planned imposition of a 40 percent super profit tax on mining industry.

United Airlines and Continental Airlines have finalised a $US3 billion dollar deal that will transform the two carriers into the biggest airline in the aviation industry as both companies are looking to generate fresh revenues of up to $US1.2 billion or $A1.3 billion come 2013.

The Northern Territory government has announced on Tuesday a $5.1 billion for year 2010/11 with a cash deficit of $268 million with increased allocations for health, housing and education, even as mining industries and civil servants bear the brunt of the resulting deficit.

The Queensland government has announced today that it is prepared to take action on the federal government’s new mining tax plan should it pose a threat to the state’s resource industry as central authorities gave assurance that the tax is necessary to keep mounting mineral incomes from leaving Australia.

Australian stocks are gaining for the first time in six years and further expansions by the local market will largely hinge on overseas factors as research group Lincoln Indicators released a new study showing listed companies that deemed financially healthy surge in the six months leading to December.

The Australian Bureau of Statistics (ABS) has revealed Monday that property prices are still surging upwards as house price index jumped by 4.8 percent in the March quarter and seemingly discounting the expected impact of the successive interest rate hikes.

The People’s Bank of China has advised local banks on Sunday to increase their money reserves in a bid to rein in waves of fresh lending that could burst the property bubble and eventually lead to economic overheating.

The country’s eco-tourism drive has reached another milestone as forty tourism operators from Tasmania took part in the recently concluded Green Tourism project which aimed to promote environmentally friendly tourism by aiding operators to cut down consumption of energy and water as well as manage waste.

Air New Zealand and Virgin Blue has announced Monday that they are seeking regulatory approval for a trans-Tasman alliance that will bring the two airlines to share route services but still short of any merger possibility.

The Australian Industry Group PricewaterhouseCoopers' performance on manufacturing index has reportedly posted its highest climb of 59.8 points in eight years amidst the busiest period so far seen in the manufacturing sector and coupled with strong turnovers from the building and infrastructure industries.

Airport operator MAp Airports Ltd, Sydney Airport’s majority owner, has reported on Friday that 31 percent spikes on its first quarter earnings with $100.71 million amassed in three months leading to end of March, as compared to posted income the same period last year.

Coffey International Ltd has announced Friday that it is projecting lower revenues in 2009-2010 following declines in monthly incomes since January as delays, slow-downs and cancellations marred the Sydney-based company’s pipeline of projects.

Darwin lost its chance of hosting a $5 billion gas plant and expanding its Sunrise fields, following announcement by Woodside Petroleum Ltd that its joint venture partnership with ConocoPhillips, Shell and Osaka Gas, have opted to build instead a floating platform in the Timor Sea.

The International Monetary Fund (IMF) has issued warning on Thursday that Asian economies are in danger of overheating as more capital influx could lead to inflationary pressures that could bust the region’s recent gains.

An ANZ Banking Group Ltd executive has declared that the worst is pretty much over for the Australian economy as it has survived the downturn almost unscathed, though warning at the same time that the country must stay cautious on the worsening debt crisis in Europe which could restrict local banks’ access to credit facilities.