Australia & New Zealand
RBA's Stevens Says Keeping Rates Low May Help Cause Bubbles, Credit Booms Efforts by policy makers to halt
future asset bubbles and credit booms forming may be futile if
borrowing costs are kept too low for too long, according to
Australia’s central bank Governor Glenn Stevens.
Macquarie Shares Decline After Second-Half Forecast Disappoints Investors Macquarie Group Ltd., Australia’s
largest investment bank, fell the most in more than eight months
in Sydney trading after its forecast for second-half profit
failed to match analyst estimates.
Australian Dollar Climbs as RBA's Stevens Says Low Rates Can Spur Bubbles Australia’s dollar strengthened from
near a four-month low versus the greenback after central bank
Governor Glenn Stevens said holding down interest rates for too
long may help create asset bubbles.
Anglo, Vale Help Push Bonds Sales to Record Signaling Mining Acquisitions Record bond sales by global mining
companies such as Anglo American Plc and Vale SA have bolstered
raw material producers’ war chests for acquisitions, expansions
and buybacks as they prepare for sustained global recovery.
Woodside, Partners Select Kimberley Hub for $30 Billion Browse LNG Project Woodside Petroleum Ltd. and its
partners in the $30 billion Browse liquefied natural gas project
have chosen to process the fuel at a hub in the Kimberley region
of Western Australia.
SingTel's Profit Gains 24% on Phone-Service Demand in Australia, Singapore Singapore Telecommunications Ltd.,
Southeast Asia’s largest phone company, posted profit and sales
that beat analysts’ estimates after gaining mobile customers at
home and in Indonesia.
ChemGenex Falls in Sydney After FDA Questions Data on Leukemia Treatment ChemGenex Pharmaceuticals Ltd., the
Australian drugmaker seeking to sell its first drug, fell the
most in more than seven years in Sydney trading after the U.S.
Food and Drug Administration questioned the clinical
significance of the medicine.
Alumina Swings to Loss of $28 Million in Second Half on Metal Price Drop Alumina Ltd., partner in the world’s
biggest producer of the material used to make aluminum, swung to
a second-half loss after a decline in the price of the metal.
Australian Government's Carbon Plan More Cost-Effective, New Energy Says Australia’s climate-change bill,
which includes plans for a carbon trading system similar to one
used in Europe, is more cost-effective than an alternative
proposal from the opposition, Bloomberg New Energy Finance said.
Australia LNG Projects May Fall Behind Schedule for Approval, Analyst Says Increasing competition to sign up
customers means some of the liquefied natural gas ventures in
Australia aiming to gain approval in 2010 will likely fail to
meet the target, Tri-Zen International Ltd. said.
Australia to Boost Spending on Airport Security After Detroit Terror Plot Australia will spend an additional
A$200 million ($173 million) over four years introducing full-
body scanners and tightening airport security after a failed
attempt in December to blow up a Detroit-bound flight.
Trichet Leaving Sydney Early to Attend European Union Meeting, RBA Says European Central Bank President
Jean-Claude Trichet will today depart a meeting of policy
makers in Sydney a day early to attend a gathering of European
Union leaders, ECB spokeswoman Regina Schueller said.
Key Says New Zealand May Reduce Personal Income Taxes, Increase Sales Tax New Zealand’s government is
considering cuts to personal income taxes to encourage
investment and economic growth, with a higher rate of sales tax
needed to pay for them, Prime Minister John Key said today.
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