Asia-Pacific News Australia & New Zealand

  • Woodside Petroleum inked an initial multi-billion dollar deal on Thursday with PetroChina to sell liquefied natural gas (LNG) from its proposed Browse project off Western Australia.

  • China's President Hu Jintao gave qualified support to an Australian initiative on climate change on Thursday as a rift opened at the APEC meeting over the "Sydney Declaration" and its targets for cutting greenhouse gas emissions.

  • Australian employment surged in August while unemployment held at 33-year lows, suggesting the domestic economy had built a full head of steam even as turmoil in credit markets threatened the outlook for global growth.

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    Asian markets closed mixed following a cautious day ahead of major U.S. data due this week and an interest rate meeting by the European central bank. Japanese stocks boar the brunt of declines, while Hong Kong investors enjoyed resilience in the Hang Seng.

  • U.S. President George W. Bush and Australian Prime Minister John Howard cemented a strong alliance on Wednesday as Asia-Pacific ministers began talks ranging from human security and climate change to trade and economic reform.

  • Troubled Australian retailer Coles Group said on Wednesday its board had recommended an enhanced takeover offer from conglomerate Wesfarmers.

  • U.S. President George W. Bush said on Wednesday it would help to balance trade if China floated its currency, which has been allowed to appreciate gradually in the past two years but remains tightly managed.

  • The Reserve Bank of Australia (RBA) said Wednesday its board decided to leave the cash target rate at 6.50 percent after Tuesday's monthly policy meeting.

  • Asian stocks closed mixed in subdued trading on the lack of a lead from U.S. markets which were closed on Monday for a public holiday.

  • After a lightning visit to Iraq, U.S. President George W. Bush arrives in Australia on Tuesday where he can expect anti-Iraq war protests as he attends an Asia-Pacific leaders' summit in Sydn

  • Australian conglomerate CSR Ltd said on Tuesday its earnings before interest and tax (EBIT) this year were likely to be 5% down on the previous year, before one-offs, hurt by lower sugar prices.

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    Asian markets were mixed Monday, as investors stayed cautious in spite of reassuring statements by U.S. President George W. Bush and Fed Chairman Ben Bernanke on sheltering the economy from the turmoil in the markets.

  • Canada's state-backed pension fund said on Monday it will seek up to 49% of New Zealand's Auckland International Airport as a rival Dubai-based deal looks set to fail.

  • Australian businesses added to inventories at a slower pace last quarter amid subdued sales, suggesting stocks subtracted more from economic growth than first thought.

  • Australia's largest construction and contract mining group, Leighton Holdings Ltd, said Monday it will merge its operations in the Arabian Gulf with Al Habtoor Engineering by acquiring a 45 percent stake in Al Habtoor for about 870 million Australian dollars.

  • A man uses his mobile phone in front of electronic stock boards at the Australian Securities Exchange (ASX Ltd.) headquarters in Sydney, Australia.

    Asian markets made solid gains Friday, ending the week firmly in positive territory as investors bet on a positive reaction to Fed Chairman Ben Bernanke's speech on monetary policy and housing in Jackson Hole, Wyo. at 11 am Singapore time.

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  • Australian electrical goods and furniture retailer Harvey Norman beat forecasts with a 28% rise in year profit on strong sales of flat-screen TVs and laptops, sending its shares up more than 6%.

  • Australian consumers spent freely for a second straight month in July as strong employment, high consumer confidence and generous tax cuts combined to get the third quarter off to a brisk start.

  • Australia's central bank on Friday provided the banking system with less money than its estimated need, as it struggled to ease upward pressure on some market interest rates.