BUSINESS

Australian Dollar Outlook 19/7/2010

The Australian Dollar once again retreated during Friday evening's trade as concerns about the global economic recovery emerged and equity markets headed down in Europe and the US.

Daily Forex Commentary 19/7/2010

The Aussie dollar held onto support around 0.8750 in early offshore trade rallying back above the 88 cent handle on the back of gains in EUR/USD.

NAB gets more time

National Australia Bank Ltd. has reached an agreement with AXA Asia Pacific Holdings Ltd., AXA SA to extend the period for NAB to satisfy the concerns raised by the Australian Competition and Consumer Commission until Aug. 31.
More news

Australia's food sector signs up to RSPO

The Australian Food and Grocery Council (AFGC) has become Australia's first industry association to gain membership to the Roundtable on Sustainable Palm Oil (RSPO), the world's leading not-for-profit organisation supporting sustainable use and production of palm oil.The RSPO was established by the ...

Organic farming set to fly in 2010-2011

With the new financial year upon us, business information research and analysis group IBISWorld has compiled its annual list of Australian industries set to fly and fall in the next 12 months. According to IBISWorld, organic farming will be the biggest winner in 2010-2011 as Australians consider the...

Australian Stock Market Report - Closing

The Australian share market pulled back once again today only a little with the S&P/ASX 200 index easing by 0.40pct. The market finished around 0.5pct lower this week.

Supermarkets race forge ahead of profits

Coles and Woolworths, the major supermarket players in Australia, continue to spend huge amounts of money for marketing, of which the results will be shown when both post their sales revenues for the fourth quarter in the week to come.

Sundance’s Mbalam obtains approval

Sundance Resources Ltd's (ASX:SDL) Mbalam project has received environmental approval for from the Cameroon government in West Africa, according to the iron ore explorer.

DERM heightens inquiry on UCG as Carbon, Linc and Cougar toe the line

Synthetic gas producer Carbon Energy Ltd (ASX: CNX) said on Friday that it is willing to accept any requests for environmental study on its Queensland facility as the state’s Department of Environment and Resource Management (DERM) had hinted that it may ask for an environmental evaluation of the company’s Blookwood Creek underground coal gasification (UCG) trial plant.

Focus posts rich mining results

West Australian gold miner Focus Minerals (ASX:FML) has reported outstanding results from initial surface reconnaissance sampling at its Treasure Island tenement in Western Australia's eastern goldfields region.

China stays firm on its managed exchange rate policy

The world could not expect drastic adjustments on yuan’s rate as China is set to maintain its policy of managed currency exchange rate regime, arguing that that such measure was only in consideration of the country’s long term economic interest.

CSL expands major biotech facility

CSL boosts the medical research capacities of Victoria with its announcement of the expansion of primary biotech facility worth $235 million.

Aussie mining towns booming

The upswing in commodity prices will generate property investment opportunities in Australia's key resource regions over the next year, according to analysts.

Suncorp’s $125m windfall

Australian finance, insurance, and banking corporation Suncorp-Metway (ASX:SUN) is in line for a windfall of up to $125 million from the sale of its holdings in two car insurance joint ventures, as it attempts to simplify its insurance business and increase returns.

Federal Court grants Arrows’ demerger scheme for Dart Energy

In an apparent preparation for the looming takeover by Royal Dutch Shell and PetroChina, Arrow Energy Ltd (ASX: AOE) has been granted by the Federal Court to spin off its Dart Energy Ltd unit, in which shareholders would be entitled to one Dart shares for every two Arrow shares that they hold.

Geodynamics reveals near validation of geological model

Upcoming geothermal firm Geodynamics Ltd (ASX: GDY) said on Friday that it is close to realising an operating heat exchanger which should affirm the geological model being utilised by the company on its joint venture Innamincka project in South Australia.

Healthscope near final bids

Two competing private equity groups are set to place their final bids on Friday for Australia's second-largest hospital owner Healthscope Ltd (ASX:HSP) in a $US1.6 billion ($A1.8 billion) deal, according to sources.

Oz Housing Outlook Starts To Soften

Westpac has found the majority of Australians believe house prices will rise in the next 12 months, but it's a smaller majority and price expectations have been tempered.

China develops taste for NSW wine

Kristina Keneally, Premier of New South Wales, has made a visit to Shanghai’s Bright Foods Store to see for herself how NSW’s Hunter Valley wine is doing in the Chinese market, currently the fourth biggest export line for Australia’s wine.

David Jones announces new store expansion in Perth

Department store operator David Jones Ltd (ASX:DJS) said on Friday that it has agreed for a 20-year extension of the lease agreement for the company’s Karrinyup outlet in Perth, revealing that the new deal is “on attractive commercial terms in line with the more favourable David Jones leases.”

AXA holds talks with NAB for new deal extension

A joint statement released on Friday by the National Australia Bank Ltd (NAB) and AXA Asia Pacific Holdings (AXA-APH) revealed that the two companies are currently in talks to negotiate the terms of extending the period for NAB to satisfy competition concerns on its $13.3 billion takeover proposal for AXA.

OZ Minerals lifts gold guidance

Miner OZ Minerals (ASX:OZL) has substantially increased its guidance for gold production to 2012 after better than expected output in the June quarter.

Intoll reports solid revenue

Australian toll-road operator Intoll Group (ASX:ITO) has posted strong June quarter revenue and traffic growth on its two toll roads.

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