POLITICS & POLICY

Australian Stock Market- Closing- (7/14/2011)

MARKET CLOSE (4.30pm AEST)The Australian sharemarket fell for the third time this week, with the ASX 200 index (XJO) dropping 0.5 pct or 24.1 pts to 4490.7 while the broader All Ordinaries index (XAO) losing 0.5 pct or 21.9 pts to 4561.3. Most sectors fell today, however some modest gains from mining and energy companies helped minimise the losses.

Asia-Pacific Sharemarkets Report- 7/14/2011

Across Asia, regional markets are mostly lower after credit rating agency Moody's said after hours that the United States' triple-A credit rating is under review for possible downgrade. This has seen widespread caution throughout Asia, with the Kospi and Hang Seng the worst performers, down 0.8% and 0.7%. The Nikkei 225 is softer by 0.6% while the Shanghai Composite is showing modest gains of 0.1%.

Perth targets new light rail, efficient buses

Perth's state government is planning to build a public transport system around light rails and rapid transit buses which will cope with the public transport needs over the next 20 years.

Coal Sector Reveals Flaws in Gillard’s Carbon Package

The relative funding allocated to carbon capture and storage (CCS) technologies reflects how out of step Australia is becoming with the approach of the rest of the world to tackling climate change, the nation’s coal sector has criticised. The Government was allocating over $13.2 billion of funding to renewable technologies and less than $2 billion to CCS.
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Australia's financial advisers group seek keen reforms

Australia's reforms to improve on the retirement savings of citizens are still hanging and waiting to be addressed, according to the industry group Association of Financial Advisers (AFA) after meeting with government authorities

Aussie govt to slash interest income tax by half

Aussie taxpayers with savings in banks, building societies and credit unions will only be charged half the tax on the interest they receive, meaning more money in their pocket come tax time.

NAB Survey: Economy weakens further

The National Australia Bank has slashed down its economic growth forecasts for the country based on its latest survey that shows very slight increases in domestic sectors in Australia for the last six months.

Solar energy sector acknowledges big win in carbon price deal

Australia’s solar energy industry has welcomed the release of the Gillard Government plan to put a price on carbon. Australian Solar Energy Society (AuSES) acknowledged “Big Solar is a big winner” in the Clean Energy Future announcement.

Carbon Tax: Bitter pill to save Australia's environment

Beleaguered and undaunted, Australia's Prime Minister Julia Gillard had begun her final push for the carbon tax deemed necessary for the environment but would be costly for the domestic economy. There is no turning back for Ms Gillard determined to put a carbon emissions scheme in place no matter what the odds.

Carbon tax spells bad news to vegetable growers, consumers

The release of the Australian Government plans to put a price on carbon will potentially hit vegetable and potato growers around the country as the sector battles with further hikes in electricity costs, according to AUSVEG, the National Peak Industry body for Australia’s 9,000 vegetable and potato growers.

Carbon tax promises benefits to nine out of ten Aussie households

With the release of the Gillard Government plan to put a price on carbon pollution, the Australian prime minister has promised that more than half of the revenue raised on the new levy will go to households to help meet price impacts. This assistance will be through increases in pensions, allowances and family payments, and personal income tax cuts.

China pressured to reveal truth on Jiang Zemin's state

In spite all the denials that China's leader Jiang Zemin is still alive, rumours that he had died of a lingering illness persist.State-run Xinhua News issued a statement denying his demise and censorship on the Internet prevails in China relating to searches on his true state.

Live export reversal triggers community outrage

The World Society for the Protection of Animals (WSPA) says it has been flooded with emails and calls from members of the community outraged by the Australian government’s decision to resume live cattle exports to Indonesia.

China warns Australia on carbon tax

China has expressed concern on the planned carbon tax by the Australia government, which the Chinese government said might be a step back for the country's mining boom.

Australia sees surge in full-time jobs

National jobs figures released by the Australian Bureau of Statistics today revealed a significant rebound in the employment market, confirming the underlying strength of the Australian economy.

Australia's Government scales back on carbon tax

The Australian government has mellowed down its carbon tax policy that would not be too much of a burden to small and medium enterprises. Industries affected by the carbon price had been reduced to 500 from the previous 1000, the government said.

Australia's construction sector index skids further in June

The national construction industry contracted further in June with solid falls in new orders and activity across the sector. The Australian Industry Group Australian Performance of Construction Index (Australian PCI®) in conjunction with the Housing Industry Association, fell 3.8 points to 35.8 (a reading below 50 indicates a contraction in activity).

Tiger Airways’ fate hangs in the balance

As budget airline Tiger Airways heeded calls made by the Australian consumer watchdog on Wednesday to halt it ticket sales on Wednesday in light of the company’s uncertain flight status, the country’s aviation authority indicated today that a new decision will be issued on Friday.

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