BUSINESS

A Residential Stamp Duty report from BankWest found that stamp duty rates in the country rose by 36 percent in the past five years with Victoria found to have the highest stamp duty charges among all the states.

Recent figures suggest that more properties are scheduled for the Australian market although overall outlook remains weak because of rising interest rates.

AGL Energy Ltd (ASX:AGK) confirmed today it has not acquired any assets in the New South Wales government's sale process for its energy retail businesses and electricity gentrader contracts.

The AUD has risen over a cent during the offshore session, currently trading around USD0.9950, with a combination of factors affecting its leap back towards parity.

The Australian Dollar rallied offshore to a monthly high as global equities and commodities soared after China refrained from raising interest rates.

U.S. stocks rose Monday after China elected not to raise interest rates and as Democrats anticipated the tax agreement would pass in the Senate.

Sporting retailer TNF Group bought prime office/warehouse space in Melbourne suburb, Scoresby, for $4.35 million

The OECD leading indicator for 29 countries lifted from 102.5 to 102.6 in October with activity accelerating in the US, China and France but easing slightly in Germany and Japan.

The Australian share market was driven marginally higher by the big four banks and miners.

A day after the government announced its proposed reforms to the financial system, Reserve Bank governor Glenn Stevens warned that the government should be careful in its attempts to promote competition in the banking sector.

Local stocks eked out a small gain today, but came off earlier highs due to falls from regional lenders and a flat finish from index leader BHP Billiton (BHP).

The exodus of key Qantas Airways (ASX: QAN) executives continues as Virgin Blue (ASX:VBA) poached another senior staff of the flying kangaroo.

Qantas Airways Ltd (ASX: QAN) says it will move into the Western Australian fly-in-fly-out (FIFO) resources air charter market, with agreement reached for the airline to purchase local operator Network Aviation.

Leighton Holdings Ltd (ASX: LEI) says its consortium has been selected as preferred proponent for New Royal Adelaide Hospital PPP project .

Australians are keeping their hands on their pockets to shop less and save more, which mean that retailers could not expect windfalls even on the usual peak mode of the Christmas shopping season.

Local stocks have kick started the trading week on a strong note, thanks to a positive offshore lead.

Australia along with Singapore and China led with the highest direct commercial property transaction volume in Asia-Pacific region amounting to US$18.2 billion, an increase of 14 percent compared to the previous quarter said an international real estate services consultant.

The Perth real estate market has had a challenging year with slow sales and properties taking about three months to get sold.

Foreign buyers and investment funds returned to the office property sector contributing US$481 million worth of investment or about 25 percent of total transactions for the year.

Property investment company Charter Hall Retail REIT (ASX:CQR), formerly Macquarie CountryWide Trust, has entered into a conditional agreement to sell its 60 per cent interest in a US portfolio of 32 properties, owned in partnership with Desco Group and Regency Centres.

Australian iron ore producer Fortescue Metals Group Ltd (ASX: FMG) today priced its previously announced offering of senior unsecured notes.

The Australian Dollar has opened today where it closed on Friday evening in the mid .9800’s as the fears that China would raise interest rates to cool down their fast expanding economy did not eventuate.

The US trade deficit narrowed from US$44.6bn to US$38.7bn in October and was below expectations for a US$44.5bn shortfall.

Little movement was felt during Asia as the Aussie remain bound between 0.9830-0.9860 against the US Dollar as traders prepared for China’s release of economic data over the weekend.

U.S. blue chip stocks posted their biggest gains of the week Friday, closing out a quiet week buoyed modestly by brighter economic data.

The National Broadband Network decision to pay for the cost of installing fiber infrastructure into communities and new homes is a boon for home buyers as it avoids passing on any additional costs to consumers for broadband installation.

The local share market closed flat today, as losses from the miners offset gains made in financial stocks.

The Australian share market has coasted to a flat close as investors sat on the sidelines ahead of key economic data due out of China.

The local share market closed flat today, as losses from the miners offset gains made in financial stocks.