China's Risky Growth Outlook and Trade Surplus Causes Australian Dollar Decline
The IMF says China's slow growth was a big risk as the world's second biggest economy moves to growth led by consumption. Any kind of economic slowdown could affect Australia and other commodity exporters. China is one of the biggest consumers of energy in the world. China's trade surplus of US$27.13 billion missed expectations this June as both imports and exports declined as well. A government spokesperson says China's foreign trade to face "grave challenges" ahead.
New Zealand Signs Trade Agreement with Taiwan, Duties Savings Totalling $40 Million a Year
New Zealand has signed a trade deal with Taiwan on Wednesday to become the isolated Taipei's first trading partner outside its allies. The economic cooperation agreement has been negotiated quietly since last year. The two-way trade between the two countries totaled US$1.2 billion in 2012, making New Zealand the 40th largest trading partner of Taiwan.
Melbourne Researchers Discovered a Leukaemia Drug Could Unlock Breast Cancer Cure
Melbourne scientists have discovered the possible cure for breast cancer while testing the leukaemia drug by growing tumours in a lab. Using donated tissue from breast cancer patients in Victoria, the research team led by Professor Geoff Lindeman conducted pre-clinical trial tests.
Cafe Culture: Is This the End of Instant Coffee in Australia?
A new research says fewer Australians are drinking instant coffee and instead choose to flock to cafes for their daily caffeine fix. The study also shows instant coffee sales have declined in the last five years since more Aussies prefer their coffee freshly brewed.
Kevin Rudd Backs Julia Gillard's Senate Candidate Nova Peris
Prime Minister Kevin Rudd backs Nova Peris as the Australian Labor Party's candidate for the Senate in the Northern Territory after local officials approached Rudd and told him the indigenous Olympian can unite the party.
Apple Inc Soars to 19th Place in Fortune Global 500, Samsung in 14th Place
Apple Inc soars to 19th place in the list of Fortune Global 500. The Cupertino-based tech giant is the second most profitable company in the world after Exxon Mobil. Apple Inc has jumped 36 spots from 55th place based on 2012 revenue.
Australia's Cities Getting Hotter by 3.7 Degrees
Some areas of Australia's cities will be up to 3.7 degrees hotter by 2050 due to the growth of urbanisation according to new research data Australia will experience the "urban heat island effect" in which temperatures will rise in built-up areas with more asphalt and concrete. Researchers from the University of NSW say the rising temperatures will enhance the effects of climate change.
New Zealand Dollar Gains Against Australian Dollar, U.S. Dollar Amid Waning Investor Optimism Over U.S. Jobs
The New Zealand dollar soared after investors expected the U.S. dollar to move far too fast following the positive U.S. jobs figures last week.
The Kiwi dollar increased to 78.01 U.S. cents from closing at 77.26 cents in Wellington last July 8. The U.S. dollar index receded overnight after soaring to its three-year high following upbeat employment numbers last July 5.
Whaling Wars: New Zealand Supports Australia Against Japan's Whaling
New Zealand shows its support to Australia's anti-whaling action against Japan by visiting Hague for the fourth consecutive time. Australia is currently in a court battle against Japan's alleged scientific whale hunting in the Southern Ocean.
Brisbane Taxi Cabs to Have Audio Recordings for Passenger Safety
All conversations in Brisbane taxi cabs will be recorded under new taxi regulations including the installation automated fare metres. Last Tuesday, the state government announced new laws following the arrest of a Gold Coast taxi driver for the sexual assault of a woman.
Western Australia Hardest Hit with Declining Job Ads Due to Mining Slump
The number of job advertisements has declined for the fourth consecutive month. Western Australia takes a toll as the mining industry slows down due to falling gold prices leading to job cuts.
Australian Dollar Slump Seen to Boost Export Returns, Offset Terms of Trade
The Australian dollar decline is seen to improve manufacturing and bolster export returns as global prices for coal and iron ore continue to slump.
Treasurer Chris Bowen says that despite the weakening Australian dollar, it still provides some level of support for buyers. Bowen says this is a good thing for the Australian economy.
Is Australia the Cheapest Country for Mobile Phone Owners?
Australian mobile phone users may have the best deal in the world when it comes to mobile phone calls. A new report from the Organisation for Economic Cooperation and Development (OECD) revealed Australia as the cheapest country to own a mobile phone.
Bondi Beach Surfer Hit Unconscious by Whale
A Kiwi surfer got hit by the tail of a 10-metre whale at Bondi Beach this Monday. Bishan Rajapakse, a 38-year-old surfer, was knocked unconscious during his encounter with the whale.
New Zealand Prepares Landmarks to Light Up for Birth of Royal Baby
Monarchy New Zealand eagerly awaits the arrival of the royal baby and begins preparing a number of landmarks and buildings to light up on cue when it's time to celebrate.
HP Australia Ordered to Pay AU$3 Million to Consumers for Misleading Claims
HP Australia was ordered by the federal court to pay AU$3 million for misleading Australian retailers and customers about their rights concerning coverage of product warranties.
Women's Rights Group Accuses Kevin Rudd of Betraying Gillard, Tony Abbott for Being Opportunistic
Prime Minister Kevin Rudd has been accused of treachery by a women's rights group for the way he treated his predecessor, Julia Gillard. A full-page ad in four major Australian newspapers was published today praising former first female prime minister Gillard for her achievements while in office.
New Zealand Dollar Rises Against Euro, British Pound, Australian Dollar
The New Zealand dollar soared against the euro and British pound after their respective central banks focused on easing bias which helped increase the demand for the higher yielding currency. The Kiwi also became stronger against the Aussie dollar.
Man Arrested Twice for Having Sex with the Same Horse Named Nadia
A 43-year-old man was arrested twice in three months for having sex with a horse named Nadia who authorities believe he was obsessed with.
China Wealthy Elites Paying High for Fresh, Human Breast Milk
Human breastmilk is the latest luxury craze among China's wealthy. The super-rich are willing to pay thousands of dollars a month for the taste of breast milk. Some even go as far as drinking from the direct source - the mother's breast.
Australian Condom Brand Stands to Benefit from China's Sex Education Campaign
An Australia-based condom brand stands to profit from China's sex education campaign. The Ansell condom is known in China as "Jissbon" and is well-placed to benefit from this national revolution in sexual education.
Sydney Drops from List of Top 10 Tourism Cities in the World
Sydney has failed to be part of the Top 10 cities listed in the renowned Travel + Leisure US World's Best Awards. This is the second time since hosting the Olympics in 2000 that Sydney dropped from the top 10 list.
Apple Inc Shares Get Boost from iWatch News, Stock Price May Reach $460
The price of Apple Inc stocks rose on Monday after news of the company applying for a trademark of the iWatch in Japan came out. The iWatch trademark reminded investors that Apple will release a new revolutionary product at some point. This is something market watchers and investors should be excited about to boost their confidence in putting their money in Apple Inc again.
Australians in Egypt Strongly Advised to Leave ASAP After Morsi Ouster
Australians in Egypt are urged by the federal government to consider leaving the country immediately after the toppling of Egyptian leader Mohamed Morsi. According to the data of the Department of Foreign Affairs, 730 Australians are currently registered being in Egypt before the protests began. Authorities say the number of Australians actually in Egypt could be higher.
PM Kevin Rudd Accuses Tony Abbott of Lying to Australians on TV
Australia Prime Minister Kevin Rudd called Tony Abbott a liar for not telling the truth about the real state of the economy, carbon tax and asylum seekers.
Human Skull Found Along NSW River Could be First White Male in Australia Before Captain Cook
A human skull discovered on a NSW river bank may belong to a white man that came before Captain Cook. History books say Captain Cook was the first white man to arrive on Australia's east coast, but scientists suggest otherwise due to the new discovery.
World's First Bionic Eye Launches in U.S., FDA Declares Breakthrough Technology Safe [PHOTO and VIDEO]
The Argus II is the world's first bionic eye to be launched in the United States. It can treat patients suffering from retinitis pigmentosa which is a rare genetic condition.
Australian Dollar Continues to Weaken Despite $670 Million Trade Surplus
The Australian dollar weakens further despite rallying slightly after the nation has posted a fourth consecutive month of trade surplus. On Wednesday, the Australian dollar traded at 91.62 U.S. cents, lower than Tuesday's exchange rate of 91.83 cents. Official data indicates Australia's trade balance last May maintained its positive streak for four months in a row with a surplus worth $670 million.
Australian Economy Uncertain But Resilient Says Treasurer Chris Bowen
Treasurer Chris Bowen warns of an uncertain economic outlook in Australia and says the situation requires careful management. A week after former prime minister Julia Gillard declared the Australian economy is "growing, stable and strong", Chris Bowen says commodity prices and mining investments are on a decline. Just last Monday, Julia Gillard told the Committee for the Economic Development of Australia that the economy is strong.
HIA Dismayed with Reserve Bank of Australia's Decision to Hold Interest Rates
The Housing Industry Association (HIA) is disappointed with Reserve Bank of Australia's decision to keep interest rates steady for at least another month. The RBA has recently announced on Tuesday that it can possibly keep cash rates for another month as a weak Australian dollar reduces the need to cut rates.
