SERVICES

Aussies are vacationing in droves overseas with New Zealand, the U.S. and Indonesia as their favourite destinations. Figures from the Australian Bureau of Statistics said that in 2011, Australians made 7.8 million international trips.

The positive leads from U.S. markets may not impact much on local stocks especially the currency-sensitive ones with the rate pause initiated by the Reserve Bank of Australia (RBA), analysts say.

Further drops in activity and new orders saw the national construction industry spend another month in the red according to the latest Australian Industry Group Australian Performance of Construction Index (Australian PCI®), in conjunction with the Housing Industry Association. The seasonally adjusted index fell by 1.2 points to 39.8 in January, marking the 20th consecutive month that the sector has contracted (readings below 50 indicate a contraction in activity).

U.S. stocks drifted lower as the recent rally paused, with investors shifting focus to wrangling in Greece over fiscal austerity. The Dow Jones Industrial Average eased 38 points, or 0.3%, to 12824 as the last hour of trading approached. The Standard & Poor's 500-stock index lost 2.7 points, or 0.2%, to 1342, and the Nasdaq Composite declined 7.8 points, or 0.3%, to 2898.

Asian banks made its way to the top 20 international bank brands of the year 2011, highlighting how they have so far bested the global financial turmoil and their future potential, the latest Banking 500 Report said.

Qantas Chief Executive Alan Joyce has opposed proposed changes in the Qantas Sale Act and cabin crew laws. He warned that planned changes being discussed in the Australian parliament could lead to job losses and reduced aviation access.

After popular file-sharing website Megaupload was shut down last week by the U.S. Federal Bureau of Investigation, the next site in danger could be the aptly named The Pirate Bay.

After encountering turbulence in 2011 due to a prolonged labor dispute with three labor unions, flag carrier Qantas Airways is set to soar in 2012.

The Australian stock market is off to a slow start on Friday with commodity-related stocks led by Lynas Corp (ASX: LYC), Aquarius Platinum Ltd (ASX: AQP), Atlas Iron Ltd (ASX:AGO) hitting some gains as of 10:00 AM (AEST).

For some, it’s like winning the lottery. Workers at Melbourne-based Grenda bus company were surprised to receive bonuses reaching up to $30,000 after the company owners sold off its transit operations and allocated $15 million to its loyal staff.

FROM MORRISON SECURITIES PTY. LTDU.S. stocks rose broadly, moving to within striking distance of a multi-year high, as investors were bolstered by solid manufacturing reports around the world.

"It's all speculation." Air New Zealand boss Rob Fyfe told of the rumors about his career movement. As he is expected to step down late this year, Fyfe has been reported to have been recruited for a job at Sir Richard Branson's Virgin Group.

Australian flag carrier Qantas was dealt another blow on Tuesday when rating agency Moody's Investors Service downgraded the air carrier's credit rating to Baa3 from Baa2. Moody's explained the cut in long-term senior unsecured rating of Qantas to expectations of ongoing pressure on the company's credit profile.

Australia's stock market had not moved in pace with the rest of the Asia-Pacific markets on Tuesday and is seen to remain flat on Wednesday's trading, but some action will push media-related stocks led by Fairfax Ltd.

Australia's retail sector will witness more shopping activities in the first quarter of the current year, according to the latest indicators summing up the Australian Food and Grocery Council (AFGC) CHEP Retail Index.

The Australian Competition and Consumer Commission (ACCC) said on Tuesday that it will seek an injunction from the Federal Court to stop Air Asia from publishing misleading advertisements.

Auckland International Airport has marked record international travel for the week ended January 8, with over 170,000 international arrivals or departures, beating the travel records during the final stages of the Rugby World Cup 2011.

Fair Work Australia (FWA) endorsed on Tuesday the proposed workplace determination between Qantas and the Australian Licenced Aircraft Engineers Association (ALAEA). The two parties presented the proposal to FWA in late December,

British actor Jude Law is among the individuals who received just compensation from the media empire of Rupert Murdoch's News Group as part of the settlement in the case involving email and phone hacking instigated by the editors and reporters of the now-defunct News of the World, lawyers and reports have confirmed.

Retailers' sentiments were confirmed by the latest sales indicator released on Friday by the Commonwealth Bank of Australia (CBA), which showed that the sector struggled to achieve sales targets last year. Nevertheless, although the numbers are disappointing, they revealed that with some creativity and technological savvy, more sales can be achieved.

Australian travelers are expected to benefit from the drop in plane fares as more competition heats in the aviation industry with the offer of AirAsiaX daily trips from Sydney beginning April 2.

Despite the continuous rise of aviation fuel prices, Australian airlines are not inclined to collect a surcharge on overweight air passengers.

It is not easy to penetrate a very discerning and astute Korean market. Korean consumer standards are quite high in all aspects especially for agriculture products.

Two female pilots of a British Airways jet felt dizzy in midflight and were forced to quickly return to London's Heathrow airport for an emergency landing on Dec. 20, according to air accident investigators' report.

Amid Australia's resources boom which led to higher export activities, the workers in the country's seaports are becoming more restive as evidenced by increased strikes toward the end of 2011 and another round of industrial actions at the start of 2012.

Adelaide Port workers who struck on Thursday got the support of the International Transport Federation (ITF) in their ongoing labor row with port operator DP World. The ITF spoke against the lockout of employees.

Australian stevedoring firm DP World locked out for 24 hours on Thursday striking Adelaide port workers.

Tiger Airways Australia is eyeing Avalon Airport as its second hub because of the strong performance of the budget air carrier in 2011. In the seven-month period March 27 through Oct 31, Tiger added 380,000 seats to its four current routes.

Growth of Australia's services sector has remained subdued in December with business services posting headwinds ahead of the consumer-related services offered by local firms in December, according to the latest survery conducted by the country's Australian Industry Group and the Commonwealth Bank.