POLITICS & POLICY

UN upgrades world economic prospects for 2010-2011, sees uneven global recovery

A new United Nations (UN) report published on Wednesday said that the world economy is poised to recover from last year’s crunch with up to three percent growth this year and 3.2 percent improvement by next year, while warning at the same time that only a solid recovery could recoup job losses and fill the production backlog created by the deep recession.

US calls for worldwide transparency on measures for combating climate change

The US climate change representative said Wednesday that all countries must adopt transparency and accept external reviews of their greenhouse emissions, leaving note that global cooperation is very important to ensure that the worldwide campaign for carbon intensity reduction is heading to the right direction.

ABS says net immigration level to Australia will drop this year

Citing changes in federal government policies and uncertain economic conditions, figures furnished by the Australian Bureau of Statistics (ABS) on Wednesday showed that net overseas migration (NOM) to the country reached 305,900 in the past 12 months leading to end of March 2009, and should slide down by end of the year.
More news

Former director accused of insider trading

Dr Jeffery James Bateson, a former director of WHL Energy Ltd (WHL), has appeared in Sydney's Downing Centre Local Court on insider trading charges brought by Australian Securities & Investments Commission (ASIC).

Probe starts over Man Group’s GLG Partners acquisition

Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of GLG Partners, Inc. by Man Group plc through two concurrent transactions: a cash merger under a merger agreement entered into among GLG, Man Group and a Man Group merger subsidiary; and a share exchange under an agreement entered into among Noam Gottesman, Pierre Lagrange and Emmanuel Roman, together with their related trusts and affiliated entities and two limit...

US Senate passes Obama-sponsored bill to reform Wall Street

The US Senate, voting by 59-39, has approved on Thursday a comprehensive reform bill poised to overhaul financial industry regulations amidst calls from many legislators and economic analysts to check the excesses of Wall Street, which are blamed by many as the biggest contributing factor in the 2008 global financial crisis.

Australia wants green business opportunities at Shanghai Expo

The Australian government has formalized its intention to expand trade opportunities with Chinese companies, particularly in the area of low-carbon investments. Australian Trade Minister Simon Crean made the statement at the launching ceremony of Australian Unlimited, a national image promoting event, in Shanghai.

Australia to stay neutral in Thai crisis

Australia's Foreign Minister Stephen Smith on Thursday said that the government would remain impartial in the wake of the continuing violence in Thailand between the sitting Abhisit government and the Reds protesters.

China maintains currency policy as bilateral talks with US nears

China maintained its hard-line stand against revaluing the Yuan amidst longstanding pressures from the US and Europe and instead pointed fingers on the soaring American debt levels, which Beijing described as possible source of more and graver economic concerns.

Reserve Bank of Australia to hold rates

The Reserve Bank of Australia (RBA) has hinted of leaving the interest rate at its present level until June on the back of the continuing debt crisis in Greece and the weakening euro.

Henry warns against tinkering proposed mine tax

The author of the controversial proposed 40 percent tax on resources particularly in the mining sector, has warned on Wednesday against tinkering with the new tax measure. Treasurer Ken Henry said the mining tax is facing the risk of becoming into a net tax subsidy for resource companies if the government gives in to the demands of the mining industry.

Environmentalist groups oppose oil drilling project on WA shores

Conservationist have scored the federal government’s decision to permit oil drilling off Margaret River in Western Australia despite assurance from the resources ministry that the project will observe the strongest safety and environment protection regulations in place.

Charity group raises US$24.4m to reduce maternal death in Zimbabwe, Zambia

International charity group ARK (Absolute Return for Kids) announced it has raised US$24.4m to finance two new programmes aimed at reducing maternal death in Zimbabwe and infant death in Zambia, and develop new South African education programme with Her Majesty Queen Rania of the Hashemite Kingdom of Jordan

Eight US banks face scrutiny over securities misrepresentation

New York Attorney General Andrew Cuomo has launched an investigation on eight Wall Street banks following allegations that they provided misleading information to numerous ratings agencies in order to secure favourable rating on mortgage securities.

Lawsuit against banks may backfire - Unions

Several unions in the Finance sector raised concerns regarding a planned class action against banks for allegedly charging Australians for more than $5 million in bank fees for more than 6 years.

Spain announces deep budget cuts to fend off Greece’s debt issue effects

The Spanish government said today that budget cut measures will take effect soon in order to cushion the anticipated spill over of Greece’s debt issues across the eurozone as Prime Minister Jose Luis Rodriguez Zapatero revealed that public sector wages will be slashed by five percent and frozen by next year.

An 11% on mining tax should do - Fraser

Treasurer Andrew Fraser of Queensland told media on Thursday he sent several department officials to deal with the super profits tax with the Federal Government representatives today.

Pages