MARKETS

East Timor turned down Australian-based Woodside, an oil gas producer to export gas from the Timor Sea that would have become the world's first floating liquefied natural gas (LNG) platforms and could have put the multibillion-dollar Greater Sunrise's LNG partnership in jeopardy.

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.

Australia was recently declared a world economic leader, according to a latest assessment by the International Monetary Fund.

The National Australia Bank scrapped the idea of selling its Aviva wealth management business which was acquired ten months ago, as it still has unfinished business on the AXA Asia Pacific takeover bid.