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Tag Archives: In Australia

Fresh bean exports increase 52.4% during past 4 years in Australia

CANBERRA: Fresh bean exports in Australia have increase in value by 52.4% during the past four years. Ausveg chief executive officer Richard Mulcahy said Australia’s export market for fresh beans was over $5.4 million for 2014-15. “This is the highest recorded value to date and has come about at a time when Australia’s vegetable export markets are showing considerable strength.” ... Read More »

BG Group sees revenues plummet 63% in Australia

CANBERRA: BG Group has seen its third quarter revenues plummet almost two thirds (63%) as it became the latest firm to be hammered by low oil prices. The oil giant, which is set to be taken over by Shell next year, revealed earnings for the three months to September were 280 million US dollars (£182 million), compared to 759 million ... Read More »

Uber commences Uber X services in Australia

CANBERRA: Controversial ride sharing app Uber has officially launched Uber X services in Canberra on Friday after the nation’s capital became the first Australian city to regulate ride sharing. On Thursday, Australian passed a legislation allowing ride sharing services, such as Uber to operate within the territory’s borders. Uber Australia’s general manager David Rohrsheim told the Australian Broadcasting Corporation (ABC) on ... Read More »

Bindaree Beef group sales 45% stake to Chinese buyer in Australia

CANBERRA: The growing interest by Chinese investors in Australia has driven Shenzhen-listed Shan Dong Delisi Food to pay $105m for a stake in Bindaree Beef Group, in a deal seen fuelled by the countries’ free trade agreement. Shan Dong Delisi Food paid Aus$145m ($105m) for a 45% stake in Bindaree Beef Group, Australia’s fourth-ranked meat processor, with volumes of 6,000 cattle ... Read More »

Cola Cola Q3 revenue drops nearly 5% in Australia

CANBERRA: Report on Coca-Cola profit and revenue this quarter shows a drop of nearly 5%. A strong dollar has resulted to a less value in Coca-Cola revenue from outside North America. The global economic slowdown also affected Coca-Cola revenues resulting a revenue cutback. According to Wall Street Journal despite the right steps Coca-Cola has taken to restore growth, but the ... Read More »

Trade deals increase risk of illegal drug imports in Australia

CANBERRA: The Border Force chief has admitted that free-trade deals could potentially increase the risk of illegal drug importations. Australia is on the cusp of signing an agreement with India and the China free trade pact is expected to come into force once it receives parliamentary approval. Force commissioner Roman Quaedvlieg told a Senate estimates hearing on Monday that he ... Read More »

Cargo from $18.5b Gladstone LNG project in Australia

CANBERRA: The first cargo from the $18.5 billion Gladstone liquefied natural gas project left on Friday, the second of seven new Australian developments putting the country on track to overtake Qatar as the world’s top LNG exporter in the next three years. The launch was a rare piece of good news for Santos Ltd , the operator of the project, ... Read More »

Volkswagen suspends sale of some diesel cars in Australia

CANBERRA: Volkswagen has suspended the sale of some diesel cars in Australia while it addresses its emissions-cheating scam. Following a meeting with government authorities, the company has decided to immediately halt the sale of affected vehicles fitted with 1.6 or 2.0-litre EA189 diesel engines. “The suspension will remain until the emission issues are addressed in those vehicles,” it said in ... Read More »

Rio Tinto, ARENA announces to launch first solar power mine in Australia

CANBERRA: Rio Tinto and the Australian Renewable Energy Agency (ARENA) announced today the launch of the Weipa Solar Plant in northern Queensland–Australia’s first commercial diesel displacement solar plant, which will generate electricity for the company’s remote bauxite mine, processing facilities and associated township. Developed by US-based PV manufacturer and developer First Solar, the solar plant is expected to produce roughly ... Read More »

Rentokil says pest revenue declines by $1.7b in Australia

CANBERRA: Rentokil has released its own research into the threats and impacts of pests to businesses across Australia. The report found that during 2014, Australian businesses affected by pest infestations also experienced a significant increase in their operating costs, collectively spending $796 million, while revenues declined by $1.7 billion. On average, an incident of pest infestation in Australian business lasted ... Read More »

Governor of Reserve Bank urges Federal Reserve to raise rates in Australia

CANBERRA: The governor of the Reserve Bank, Glenn Stevens, has encouraged the US Federal Reserve to stop pussy-footing around with interest rates and start unwinding its ultra-loose monetary policy, dismissing gloomy assessments of Australia’s economy and playing down fears higher rates in the US will prompt destabilising financial volatility. Speaking hours after the Fed kept its official interest rate on ... Read More »

Commonwealth Bank’s $1.5 bln ignore on retail contribution in Australia

CANBERRA: Just half of the eligible Commonwealth Bank’s retail shareholders have taken up the offer to buy newly-issued shares through the bank’s entitlement offer, leaving a $1.5 billion shortfall. Shares in the country’s biggest bank were placed in a trading halt on Friday, as it announced it had raised $1.5 billion from retail shareholders, and it brought forward an institutional ... Read More »

Development of black coal mines in Australia

CANBERRA: The development of black coal mines in Australia continues to attract controversy, with divestment campaigns gaining momentum. The role of banks in financing such projects has come under scrutiny. When asked about its support for the sector recently, a Commonwealth Bank spokesperson used rhetoric akin to that of a politician, saying “CBA’s role is to support the Australian economy”. The ... Read More »

Toshiba posts $460m annual loss after scandal in Australia

CANBERRA: Toshiba says it will book a $A460.10 million annual loss to account for a billion dollar profit-padding scandal that hammered the company’s reputation. The vast 140-year-old conglomerate said that its shortfall for the year to March 2015 would be Y37.8 billion ($A459.94 million), reversing a previously expected Y120 billion annual profit. Toshiba left unchanged its previously announced Y170 billion ... Read More »

Commonwealth bank shares dip below offer price in $5b capital raising program in Australia

CANBERRA: one of Australia’s biggest corporate fundraising programs the Commonwealth Bank’s $5 billion cash call  risks becoming a fizzer, analysts say, as global share markets totter. Shares in the bank yesterday fell below the price of new stock being offered to investors in its rights issue, the second biggest in Australian history. CBA shares hit an intraday low of $71.26, below ... Read More »

Town of Port Hedland accepts $205m airport deal in Australia

CANBERRA: The Town of Port Hedland has accepted an offer by a private consortium to take control of its airport. Under the deal the 50-year lease, worth $205 million, has gone to AMP Capital and Infrastructure Capital Group which will make a $165 million one-off payment to the Town and commit to spend $40 million over the next five years ... Read More »

Town of Port Hedland accepts $205m airport deal in Australia

CANBERRA: The Town of Port Hedland has accepted an offer by a private consortium to take control of its airport. Under the deal the 50-year lease, worth $205 million, has gone to AMP Capital and Infrastructure Capital Group which will make a $165 million one-off payment to the Town and commit to spend $40 million over the next five years ... Read More »

Fuel storage facility development at Port Kembla in Australia

CANBERRA: A joint venture between TonenGeneral Sekiyu K.K and Qube Holdings seeks to develop a fuel storage facility at Port Kembla in New South Wales, Australia. The facility will have a potential capacity of 230,000 kilolitres and it is expected to be complete and in service in mid to late 2017. The port has both shipping and logistical advantages enabling ... Read More »

Vodafone launches new plans to speed up growth against Telstra, Optus in Australia

CANBERRA: Vodafone Hutchison Australia chief executive Inaki Berroeta has weighed in to the war for mobile phone customers, saying the company will use new plans with free international calls and more download data to accelerate the rise of its customer base despite hot competition from Telstra and Optus. Australia’s third-largest telecommunications provider on Wednesday announced it was revamping its mobile ... Read More »

Sundance Energy to boost oil, gas production in Australia

CANBERRA: Sundance Energy Australia (ASX:SEA) has completed the acquisition of New Standard Energy’s (ASX:NSE) U.S. and Cooper Basin assets, which include producing oil and gas wells. Consideration includes $15 million, the issue of 6 million SEA shares and the assumption of a net working capital deficit of about $0.9 million. The Eagle Ford assets acquired include approximately 5,500 net acres ... Read More »