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Qld premier considers flood levy option
The government is considering introducing a new levy in next month's budget for flood repairs and improving infrastructure.The tax could be imposed on household bills such as electricity or water and the government hopes to raise $1 billion over four to five years.Mr Newman says the existing $80 million flood kitty would not be enough to replace infrastructure or shift it to higher ...
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ASIA MARKETS Hong Kong Sydney Stocks Fall Tokyo Seesaws
HONG KONG – Australian stocks declined, and Hong Kong equities pulled back from a three-day winning run on Tuesday, weighed by overnight losses on Wall Street and uncertainty over U.S. monetary policy.The S&P/ASX 200 dropped 0.7% in Sydney, and the Hang Seng Index gave up 0.2% in Hong Kong.Japan's Nikkei Stock Average was up 0.1%, but struggling for direction after a sturdy rally ...
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UPDATE 1-Gloom hits services firms as Australias mining boom peaks
Mon May 20, 2013 11:27pm EDT * Mining services large and small suffer * Cuts in mine projects, exploration spending hit mining services * Share prices smashed, Transfield sinks to record low By Sonali Paul MELBOURNE, May 21 (Reuters) - A spate of profit warnings from Australian mining services firms suggests the country's "once-a-century" resources spending boom may have peaked ...
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Australias trading partner looking better
The outlook for Australia's major trading partners is good, with economic growth for most expected to pick up in 2014, the Reserve Bank of Australia says.The minutes of the RBA's May board meeting gave a positive assessment of the economic outlooks for China, Japan and the US.While growth in China is not expected to return to its stellar levels of recent years, the RBA board said the ...
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Kevin Rudds support for gay marriage puts him at odds with Julia Gillard
Australia Former prime minister Kevin Rudd says a "personal journey" has led him to change his mind and support same-sex marriage - a position that puts him at odds with his leader, Julia Gillard.Ms Gillard does not support same-sex marriage, although she has allowed Labor MPs a conscience vote on the issue.Mr Rudd ...
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Dubai locks up Australian for land fraud
(57 mins ago) Foreign Minister Bob Carr has criticized as ';indefensible’’ the length of time the legal process took in the United Arab Emirates after an Australian man was jailed for 10 years for property fraud. Businessman Matthew Joyce was sentenced yesterday, four years after being arrested, and reportedly fined US$24.5 million after being convicted over a collapsed land ...
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Low inflation prompted rate cut
The Reserve Bank of Australia says a softer-than-expected inflation outlook allowed it to cut the cash rate to a record low, as it tries to boost underperforming sectors or the economy. But the minutes from the central bank's May 7 board meeting provide no clues as to whether further rate cuts are on the cards. The RBA said the Australian economy was set to grow at a below-average pace in ...
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Brisbanes Merrett accepts AFL ban
Brisbane defender Daniel Merrett on Tuesday accepted a three-match ban from the AFL's match review panel for rough conduct after a tackle which knocked out Essendon's Michael Hurley. A groggy Hurley was subbed off during Saturday's round-eight game at Etihad Stadium following the incident which caused the forward's head to thump into the turf. Brisbane's Justin Clarke ...
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Stocks to watch at noon on Tuesday
Stocks to watch on the Australian stock exchange at noon on Tuesday: NSW - NEWS CORPORATION - down 19 cents, or 0.56 per cent, at $33.79 NWSLV - NEWS CORPORATION NON-VOTING COMMON STOCK - down 10 cents, or 0.30 per cent, at $33.69 News Limited has sold NRL club Melbourne to a private consortium gathered by New Zealand entrepreneur Bart ...
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Gay marriage change a personal journey Rudd
An important change of heart on road to marriage equality Kevin Rudd has denied hiding his true beliefs about same-sex marriage while he was prime minister, saying his current stance was the result of a ''personal journey''. Mr Rudd, who announced he had changed his position on same-sex marriage in a ...
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Bulldogs still NRL contenders Ennis
Canterbury still deserve to be considered NRL title contenders but only if they make some changes, according to skipper Michael Ennis. The Bulldogs, minor premiers and grand finalists last season, opened the year as outright premiership favourites. But a miserable start to the season was compounded by the absence of Ben Barba (personal problems) and James Graham (suspension) in the early ...
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The downside of palm oils market saturation
TimTam biscuits contain palm oil. It's everywhere - in your bathroom, your pantry - and if you use make-up, it's probably on your face as well. According to ...
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Aust shares open lower
Mining stocks fell, with BHP Billiton losing 14 cents to $34.65 and Rio Tinto falling 62 cents to $54.80. Resources engineering group Transfield Services saw its shares plummet to a record low on Tuesday morning after it cut its profit forecast and slashed another 113 jobs. Its shares were down 27.5 cents, or 21.57 per cent, to $1.00 at 1203 AEST. Banking shares were also down but, Mr Russell ...
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Threat to girl unusual police say
A 12-YEAR-OLD girl says she "froze" when a man held a gun to her head and robbed her of her phone and wallet as she walked back from a friend's house in ...
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Swan rules out changes to negative gearing
Shadow treasurer Joe Hockey has reportedly confirmed a coalition government's white paper on tax reform could include a look at negative gearing, which allows residential property investors to claim tax deductions when interest costs exceed rental income."We ruled out any change to the existing arrangements in our response to the Henry (tax) report," Mr Swan told reporters in ...
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Australias Discovery says CFC others exploring new takeover
SYDNEY | Mon May 20, 2013 10:00pm EDT SYDNEY May 21 (Reuters) - Australia-listed copper miner Discovery Metals Ltd has opened its books to spurned private equity suitor Cathay Fortune Corp and others in an effort to attract a new takeover offer, potentially valuing it at A$195 million ($190 million), it said on Tuesday. Discovery, which has been ramping up output at its main project in ...
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Pistorius ruled out of 2013 competition
Paralympic gold medallist Oscar Pistorius will not compete in 2013 as he awaits trial on charges of murder.Pistorius is currently on bail after being charged with the murder of his girlfriend, Reeva Steenkamp, in February.The South African was an outside chance to compete at August's IAAF World Championships in Moscow after his agent, Peet van Zyl, said the event was 'on the ...
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Wed-locked Fake marriages in Australia
For many Arab Australians being gay is still taboo, and now some are turning to fake marriages to hide the truth about their sexuality, reports The Feed's Patrick ...
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Smith McCabe slim chance for Lions
Brumbies pair George Smith and Pat McCabe are still a slim chance of playing the Lions after news their knee injuries aren't as bad as initially ...
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Australian Market Trades Weak
The Australian stock market is trading weak on Tuesday with investors pressing sales, tracking cues from Wall Street where stocks ended slightly lower overnight amid a lack of fresh triggers.Consumer discretionary, financial, healthcare and industrial stocks are mostly trading lower, while energy, mining and property trusts stocks are trading mixed.The benchmark S&P/ASX 200 index, which ...
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Australia must help break the resource curse
Developing countries need not fall victim to the 'resource curse', writes Andrew Leigh. Australia has a role to play in ensuring these countries use their natural resources to foster democracy and boost living ...
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Australian Olympian in Solomons basketball program
Solomon Islands An Australian former Olympian is in Solomon Islands to help encourage the country's young people to play basketball.Former Opal Annie La Fleur is in Honiara participating in a range of development activities, including visiting local schools to promote healthy lifestyles through basketball, and working with the country's national players and clubs.She says she'll ...
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BJD could be new strain
Wallace Gunthorpe, Gunthorpe Cattle Co, Tarramba Red Brahmans, Banana, with son Adam, said the sensible thing to do would be to deregulate BJD in Queensland and allow producers to manage BJD themselves with the assistance of DAFF and ...
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Australia shares down 0.7 pct gold miners firmer
(Adds details, comments, stocks on the move) SYDNEY, May 21 (Reuters) - Australian shares fell 0.7 percent in late morning trade on Tuesday, with investors taking profits following the market's run-up to 5-1/2-year highs and ahead of the central bank's May meeting minutes. Banks lost ground from recent rallies, weighing on the benchmark index. Top lender Commonwealth Bank of Australia ...
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Care centes able to ban unvaccinated kids
NSW Premier Barry O'Farrell says he's prepared to amend the state's anti-discrimination laws to allow preschools and care centres to refuse children who haven't been vaccinated. Legislation giving child care facilities the right to ban unvaccinated children will be moved in parliament by opposition leader John Robertson on Tuesday. "I believe the health of our children ...
Digest on Australia
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Australia the energy superpower?
A new boom in the extraction of Australia's natural gas reserves will have immense economic benefits for the country and especially the state of Western Australia, but conservationists warn of an environmental impact.
Australia is a country rich in natural resources, because of this its economy is an export driven one, and coal, iron ore, wool, meat, gold, and wheat are some of its main exports. It was in the 1920’s that Australia’s economic potential was underpinned by the gold rush that saw its population triple in size in just ten years. Read more
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