Australia & New Zealand
National Australia's Stewart Expects Opportunities to Buy Amid Asset Sales National Australia Bank Ltd., the
country's biggest by assets, expects acquisition opportunities as
lenders and securities firms sell assets amid a global credit
crisis.
BG Must Bid for Contact Energy If Origin Takeover Succeeds, N.Z. Decides BG Group Plc, the third-biggest U.K.
natural gas company, will have to make a cash bid for Contact
Energy Ltd. if its bid for Australian parent company Origin
Energy Ltd. succeeds, New Zealand's takeovers regulator said.
Chalco, Baosteel, Sinosteel Interested in Fortescue Stake, Australian Says Aluminum Corp. of China has joined
rival Chinese steelmakers seeking a stake in Fortescue Metals
Group Ltd., Australia's new iron ore exporter, the Australian
reported, without saying where it got the information.
Sigma, Metcash to Offer Under $940 Million for Symbion Unit, Review Says Sigma Pharmaceuticals Ltd. and retailer
Metcash Ltd. are set to offer less than A$1 billion ($940 million)
for the consumer and pharmaceutical wholesale units formerly owned
by Symbion Health Ltd.
New Zealand House Prices Post Slowest Annual Gain in More Than Three Years New Zealand's house prices rose at
the slowest pace in more than three years in April as record-
high interest rates curbed demand for property.
Qantas Faces Industrial Action By Maintenance Engineers Over Pay Offer Qantas Airways Ltd., Australia's
biggest airline, faces overtime bans and stop-work meetings by
maintenance engineers starting next week, after refusing to
improve a pay offer.
Shell Australia Will Resume Premium Gasoline Supplies in New South Wales Royal Dutch Shell Plc, one of
Australia's four crude-oil refiners, said it will resume
supplies of premium gasoline in New South Wales in advance of
completing a A$150 million ($142 million) plant upgrade.
Australia Boosts Aid for Relief of Myanmar Cyclone Victims to $24 Million The Australian government boosted
financial aid to victims of last weekend's cyclone in Myanmar
more than eightfold to A$25 million ($24 million), Foreign
Minister Stephen Smith said.
Australian Regulator Criticizes State Governments Over Water, Review Says Australia's competition regulator
accused the country's eight state governments of failing to
deliver on promises to facilitate a free market in water rights,
the Financial Review reported.
Swan Says Australia's Government to Review Personal and Company Tax System Australia's government plans a
comprehensive review of the nation's tax system, including
personal and company levies and the implications on taxation of
an emissions-trading system, Treasurer Wayne Swan said.