Erik Pineda

The International Monetary Fund (IMF) has released its projections on Thursday, saying that Australian inflation will remain within the official two to three percent target band this year, as its regional economic outlook in Asia-Pacific identified the rising mortgage rates as potentially harmful in regaining consumer confidence in the property market.

The federal government has announced Wednesday that it will not splurge on taxpayers’ money to address an enormous infrastructure deficit of about $750 billion as a result of the country’s exploding population, even as Finance Minister Lindsay Tanner stressed that the government is threading the correct path with projected $22 billion infrastructure projects stipulated in its 2009/10 budget.

The Royal Dutch Shell has reported Wednesday that its net income for 2010’s first quarter soared up to 57 percent or $5.99 billion, as the oil company pointed to stable oil prices, production growth and earning good returns on instituted cost cutting

A consumer credit survey has revealed Wednesday that home mortgage applications posted in the March quarter declined by 15 percent following the government’s decisions to return first home buyers grant to pre-financial crisis level.

China has announced on Tuesday that it is set to require telecom operators and internet service providers to report and cooperate with state security officers on possible leak of state secrets, as the country moves further to tighten its grip on communication facilities and discourage political dissent.

A National Bank of Australia (NAB) business survey has showed Tuesday that business conditions and confidence dipped a bit but stayed in a generally positive realm in the first quarter of 2010, as an upbeat mood towards Australia’s promising economic outlook eclipsed the sharp decline seen in trading conditions.

A new property industry study has revealed on Tuesday that Melbourne is fast gaining traction as the country’s economic powerhouse and could eventually dislodge Sydney as Australia’s largest city come 2037.

Opposition senators have called on the federal government to release the $25 million study on the $43 billion National Broadband Network (NBN), which has been touted by the government as Australia’s largest infrastructure undertaking to date.

The aluminium industry has scored a report which argued that the sector should be denied compensations totalling to $10.5 billion under Australia’s proposed emissions trading scheme since aluminium smelters contributed far more greenhouse gasses than that of the world average and will eventually be more economically unviable in the future.

The federal government has announced today that its water purchase program in the Murray-Darling Basin received a big boost from a new study which showed that the $1.5 billion water buybacks models implemented so far had actually released many irrigators from financial pressures.

The federal government has assured on Monday that more Australians will be given access to affordable and simple financial consultations once the proposed reforms in the financial products and services are implemented, which should address rampant conflicts of interest that have allegedly led to dubious finance advisories and misrepresentation of products.

Consolidated Media Holdings Ltd (ConsMedia) has announced Friday that it is asking its shareholders to use $225 million in its plan to buy back 11.88 percent of the company’s 620.71 million shares on issue, which analysts said are indications that the media company is on road to become private anew.

The federal government has released key proposals aiming to further strengthen regulation of Australia’s remittance business as it hinted the introduction of tougher measures on money forwarders who could be utilised by launderers and human smugglers.

The Australian Tourism Export Council has called on Australian banks for more help on the struggling tourism industry as industry operators revealed that they had resorted to raiding their savings and contingency funds in order to survive the worst of the global financial crisis.

A National Bank of Australia (NAB) survey has revealed Thursday that capital values will be raised across all commercial sectors, as expansion in commercial properties is expected over the next 12 months with the office sector coming out as the lead player and edging out the retail and industrial sectors.

Iluka Resources Ltd has reported that demands for high value mineral sands, such as zircon and rutile, increased on key markets in the first quarter of the year following restrained output during the global financial crisis.

Telstra has announced plans to impose an additional 20 cents charge on competitors accessing the company’s copper network, and raising the possibility that consumers will soon foot much higher internet and phone bills.

Caltex Australia Ltd has released on Thursday its unaudited first quarter profit which showed sales spikes of up to 33 percent or $130 million on a replacement cost of sales operating profit (RCOP) basis, as the oil company cautioned that its short term outlook is largely tentative at this stage.

The State Mining Engineer has announced that the government is poised to collect millions via a safety regulation tax as the Department of Mines and Petroleum is set to impose fresh steps that will secure the safety performance of the resource industry.

A joint venture with China is in the offing for South Australia as Adelaide-based IronClad Mining Ltd has announced Wednesday that MCCM Capital Management Co Ltd is set to buy the mining firm’s stakes offering that could reach up to 4.4 million shares.

The Energy Resources of Australia (ERA) has expressed optimism that the uranium market is bound for a more robust status over the long haul, as ERA chairman David Klingner is confident that nuclear power will remain as the forefront option for global energy solution.

AXA Asia Pacific gained more sheen for takeover bids as the company reported yesterday that its first quarter sales for 2010 bumped up to 92 percent or an actual currency value of $146, with its strong sales surge pushed forward by the upbeat Asian markets.

The Reserve Bank of Australia (RBA) has hinted in its April 6 board meeting minutes that another raise can be expected in May, as it lifted the cash rate to 4.25 percent following the meet and marking the rate’s fifth upward movement since October last year.

The Australian Competition and Consumer Commission (ACCC) has clarified Tuesday that its opposition to National Australia Bank’s (NAB) takeover bid of AXA Asia Pacific Holdings Ltd is not necessarily applicable to other proposed mergers in the financial sector.

The Australian Bureau of Statistics (ABS) has announced Thursday that the country achieved its first trade surplus in 13 months, with its balance of goods and services surpluses reaching a seasonally adjusted $134 million in April, coming from the March revised deficit of $2.04 billion for a turnaround of $2.174 billion.