IAG Forecasts Payment of $720 Million in 2012 for Catastrophe Reinsurance
Insurance Australia Group (IAG), the country's largest vehicle and home insurer, forecast that it would pay up to $720 million in 2012 for catastrophe reinsurance because of disasters such as floods, cyclones and bushfires that hit the country in 2011.
Construction Work in New Resources Projects in Australia Up 31% in 2011
It was still a banner year for the mining sector of Australia in 2011 despite claims by some groups that the boom has waned. Proof of the strength of the mining sector is that while the previous year was marked by economic contraction in many countries, construction work on new resources projects in Australia went up 31 per cent for the year.
Tips in Selecting a PC
The year 2012 will certainly bring new technologies, new gadgets and new developments in the world of information technology. In the area of computers, users could be divided into the three main types - desktop, notebook and tablet. People who are contemplating on moving from being a desktop user to being a tablet carrier would benefit from a differentiation of the three types of PCs as the technology world continues to change and evolve.
Hunter Valley Growers Push for Ring Fencing of Region from CSG
Residents and business owners in Hunter Valley reiterated its call for the New South Wales (NSW) government to ring fence the region from coal seam gas (CSG) exploration and production.
Apostrophe in Sign Leads to Myer Lampoon in Social Media
It was a copy editor's nightmare. An unnecessary apostrophe in Myer's sign spread across Australia is now the subject of lampoon in social networking sites.
Export Commodity Prices Dip for 4th Straight Month
The Reserve Bank of Australia's (RBA) index showed that export commodity prices registered a decline for the fourth straight month in December by 1 per cent.
Australian Stock Market Report - Midday 1/4/2012
Yesterday, The Australian Stock market ended higher, All Ordinaries index (XAO) gaining 1.1 pct or 44.2 pts to 4155.2. The market started off stronger this morning up 1.2pct at the open of trade.
Survey Indicates Downbeat Mood Among Australian Retailers for Q1
The bearish market that characterised 2011 for Australia's retail industry would likely be replicated for the first quarter of 2012. A survey by Dun & Bradstreet showed that 55 per cent of retailers expect continued slowdown of consumer demand.
Cop Slaughters 20 Kangaroos in Queensland
The Department of Environment and Resource Management is investigating a police officer who allegedly slaughtered 20 kangaroos on a Fraser Coast property at Booral in Queensland.
Australia’s Food Security May be Jeopardised by Foreign Investments into Agri Firms
A report commissioned by the Australian government found that foreigners are heavily investing in the country's agricultural companies such as those into sugar, grain and beef production. South Australian Senator Nick Xenophon warned of the impact of control of such foreign capital into Australia's food security.
Westpac Reclassifies $28.8 Billion Mortgages
Westpac Bank (ASX: WBC), in a filing with the Australian Stock Exchange, said that it reclassified the allocation of loan purpose between owner-occupied and investment housing to better reflect the purpose of the loan.
Murchison Brings Mitsubishi Offer for Oakajee Port & Rail Project for Shareholder Approval
Murchison Metals (ASX: MMX), in a filing with the Australian Stock Exchange, said it will submit to shareholders the proposed sale of its interest in Crossland Resources and the Oakajee Port and Rail projects to Mitsubishi Development.
Resolutions Galore: What Do Aussies Want in the New Year?
The New Year's resolutions of most Australians are predictable as they tend to make the same promises year in and year out.
NSW Resident Accuses CSG Operator of Poisoning Trees
A resident of Narrabri accused Australian mining firm Santos of causing the death of trees at the Pilliga State Forest due to the coal seam water that leaked from a dam operated by the company.
Virgin Australia Benefits from Qantas Industrial Disputes
The labor dispute at Qantas benefited Virgin Australia which logged a 3.5 per cent increase in domestic passenger traffic in November.
Australian Stock Market Report - Midday 1/3/2012
Today is the first day of trading for the 2012 calendar year, The Australian Stock market ended the last day of 2011, 19 points lower. But today, after higher commodity prices and light trading in Europe the market opened stronger.
Orica Resumes Kooragang Island Ammonia Plant
Australian chemical giant Orica (ASX: ORI) reopened on Tuesday its ammonia plant in Kooragang Island. The facility was shuttered in August after hexavalent chromium spilled on Hunter River and to more than 70 homes in Stockton.
Addition of 30 Firms Doubles Number of NSX Members
The National Stock Exchange of Australia (NSX) added 29 companies to its listing on Tuesday, doubling the total number of members to 62.
6 New Gadgets for 2012
There were many additions to the gadget world in 2011. Most of the gadgets the previous year showed that the digital industry has improved greatly from mobility and transportation to entertainment and communication.
Australian Fishermen Blame Queensland Harbour Dredging for Fish Kills
Australian fishermen are blaming the ongoing dredging at Queensland Harbour for the fish kills that have affected their livelihood. The dredging of 46 million tons of sediments at Gladstone Harbour is part of the $30-billion project to expand the port to accommodate more coal-seam gas export to Asia.
Aussie Pair Reaches South Pole on Foot
The Australian pair of James Castrission and Justin Jones planted the country's flag at South Pole on Dec 31, 2011, to mark that they reached the bottom of the world on foot.
Queen Bestows Order of Merit on Former PM John Howard
Former Australian Prime Minister John Howard was appointed by the Queen to the Order of Merit. The order is bestowed on individuals who have achieved exceptional distinction in the arts, learning, sciences and other areas such as public service.
Benchmark ASX 200 Ends 2011 Down by 14.5%
Analysts and investors are divided on how the Australian stock market would fare in 2012. The division is because while dealers forecast that shares would rise 17 per cent in 2011, the year ended with the benchmark Australian Stock Exchange (ASX) 200 down 14.5 per cent at 4,140.4 at the last trading day of the year.
NAB Teller Outwits Bank Robber
A teller of the National Australia Bank at the Gateway Business Centre in Booragoon outwitted man who planned to rob the bank on Friday.
OZ Minerals Values Lost Copper Concentrates Worth $7-$8 Million
OZ Minerals, in a filing with the Australian Stock Exchange, estimated the value of its copper concentrate lost in the derailment of a train in the Northern Territory last week, at $7 million to $8 million.
Treasurer Swan: Australia in Stronger Position to Handle Global Slowdown
Australia is in a stronger position than most to handle the expected global slowdown to come from the European debt problem, Treasurer Wayne Swan said. In fact, the country can maximise the opportunities that will come from the Asia-Pacific, now the strongest part of the global economy.
Aussies to Send 76 Million Text Messages for New Year
Australians are expected to send 76 million text messages for the New Year. The figure would top the estimated 65 million SMS sent by Aussies on Christmas Day.
Australian Stock Market Report - Afternoon 12/30/2011
Yesterday, The Australian Stock market closed 19points lower. But today, after a negative week of trading, the market turned higher at the open up 10points, boosted by strong gains on overseas markets.
Australia to Provide Financial Assistance to Communities Hit by Cyclone Grant
Australia's federal government announced on Friday that it would extend financial assistance to communities hit by ex-tropical cyclone Grant. The money could be used to repair damaged bridges and roads and to help the battered areas recover.
Boeing Forecasts Consolidation of Global Aviation Industry
Boeing forecasts more consolidation in the global aviation industry in the next 10 years. Boeing Chief Executive Officer Jim McNerney said that restructuring of air carrier companies would be one of the biggest challenges that airlines would face in the coming decade.