australia

Withdrawal notepad

by on April 19, 2012

menafn.com…

(MENAFN – Khaleej Times) Australia has cast the first stone in the withdrawal process from Afghanistan. Prime Minister Julia Gillard’s conviction that her troops should be back home much before the …

Read the rest here:
Withdrawal notepad

Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

menafn.com…

Australian economy is one of the largest Asian economies that recently suffered from global demand weakness, also its negative effect on the nation’s growth, where the RBA is looking forward …

Originally posted here:
RBA may cut the interest rate for the first time this year

Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

Australia posts 4% rise in March new car sales

April 17, 2012

(MENAFN) The Australian government said that sales of new vehicles went up 4 percent last month from February to 89,694 units, reported Reuters. The data showed that the increase, compared to an …

Read the full article →

The Faddish Past And Big Money Future Of Chia Seeds

April 16, 2012

Five years ago, the word “chia” made most Americans think of one thing: Chia Pets. The association lingers. But today, chia seeds are beginning to gain recognition as one of the world’s healthiest foods. The seeds, which are completely tasteless, are high in protein and fiber and contain incredibly high levels of Omega-3 fatty acids, which have been shown to protect function of the heart and other vital organs. The shelves of Whole Foods are brimming with chia-packed products, from juices to energy bars. You can buy four one-pound bags of raw chia seed at Walmart for $37.56. “Chia could be the next big superfood,” John Roulac, CEO of Nutiva Foods, the leading producer of organic chia, told The Huffington Post. “The growth in demand for chia is almost like a hurricane, it’s so intense.” What makes that transformation so remarkable is that for centuries, almost no one was even aware that chia seeds were edible. Chia had been the third-most important crop for the Aztec empire, after corn and beans. But because it was used in Aztec religious ceremonies, conquistadors suppressed its cultivation by all but a few remote tribes for 500 years. Wayne Coates, an ultramarathon-running professor of agricultural engineering at the University of Arizona, entered the picture in 1991. He was trying to find a profitable crop that could be grown in northwest Argentina, as part of a project he was working on with Argentinian farmers. Someone — he said he doesn’t remember who — suggested chia. He found that it was easy to grow, so he started to investigate its potential uses. What he found astounded him. “Chia is the highest plant source of Omega-3s. It has tons of fiber, and even a lot of antioxidants and minerals. It’s 20 percent protein — which is, compared to wheat, or even soy, incredibly high,” Coates told The Huffington Post. Further analysis convinced him chia had vast potential. Initially, he thought it might work well in livestock feed, to increase the amount of Omega-3s that made it into eggs and milk. That worked, but the relatively high price of chia kept farmers away. So Coates started to think about selling chia directly to consumers instead. He began visiting trade fairs, hoping to find a company that would include chia seeds in its products, but he said no one wanted to be the first to bet on an unproven ingredient. In 2005, Coates published a book on the topic entitled “Chia: Redisovering A Forgotten Crop Of The Aztecs,” but it attracted little notice outside of his native Arizona. But in the late 2000s, two high-profile supporters emerged. Dr. Mehmet Oz started promoting chia as a “superfood” on “Oprah.” He showed fans how to incorporate chia into their diets by adding it to smoothies and to muffins. His endorsement encouraged health-food early adopters — who were eager for a new fad after tiring of acai and pomegranate — to seek out chia seeds. Then chia was featured in Christopher McDougall’s “Born To Run,” a best-selling inspirational tract for runners. McDougall profiled a legendary long-distance runner named Micah True, who learned about chia from the Tarahumara tribe of native Mexicans. The book increased awareness of chia in the athletic community. Chia sales skyrocketed, and Coates quickly found that its popularity had ballooned far beyond what he had imagined. (His second chia-related book, “Chia: The Complete Guide To The Ultimate Superfood,” comes complete with recipes and will be released on May 1.) New companies, including Nutiva, began producing it, as many others in the food industry began to realize that the seeds’ blandness gave them a wide range of potential applications. One such person is Janie Campbell, a self-declared health food nut from Southern California and the founder of beverage company Mamma Chia. She started adding chia to juice after realizing that it worked to reduce symptoms of an autoimmune disorder she’d faced for decades. Campbell said her friends were so enthusiastic that she decided to sell the juices commercially in 2010. Mamma Chia is now available in 2000 stores, including most Whole Foods locations. As the chia market became more competitive, people began to make bold claims about the seeds’ benefits. Many — including Coates — started to say that chia seeds help people lose weight, that chia seeds increase energy and that they lower peoples’ cholesterol. The problem was that controlled studies had continually failed to bear those claims out. “The people who are involved in the chia seed world are almost like a cult,” said David Nieman, a doctor who has conducted numerous studies on chia seeds. “They just think it’s god’s gift to mankind, that it can do all sorts of magical things. But it’s not true.” The cautionary tale in this arena is that of the acai berry. It, too, was a newly-introduced food from South America that was often billed as a “superfood.” And it, too, started to attract unsupportable claims, which ultimately sullied its image in the eyes of many consumers. For that reason, those who market chia seeds have shifted their focus away from specific health claims and toward simple statements about the uncontroversial nutritiousness of the chia seed. April Hallaway, head of marketing for Australia’s The Chia Company, which now grows nearly half the world’s chia, explained, “The last thing we do is to market chia as a fad.” In Australia, the seeds’ appeal stretches far beyond health food nuts and athletes. They’re included in foods as pedestrian as mass-market white bread. But before that can happen in the U.S., many argue that the supply of chia — currently dominated by The Chia Company and small farms in Latin America — needs to become more reliable. Enter Kentucky Chia, founded by a group of business students at the University of Louisville with the goal of making chia into a commodity crop. The company holds the patent for a new strain of chia that can be grown in the U.S., which was developed using a process that accelerates genetic mutation using gamma rays. (The technique does not technically qualify as genetic modification, but it’s close enough to unnerve traditional chia fans like Coates and Roulac.) Kentucky Chia hopes to start selling its chia as horse feed in 2013. But CEO Zack Pennington says that’s only the beginning. “Right now, we mostly eat chia raw, by itself, but I think its ultimate trajectory is as an ingredient,” he told The Huffington Post. “Sometime soon, I think we’ll see chia added to everything: Vitamin Water with chia, Kashi cereal with chia, chia-seed bread at Subway.” Is he worried, though, that chia might just be a temporary fad — as its terra cotta brethren turned out to be? “As long as people recognize not only how good it is, but also its limitations, it will last,” he said. “iPods were a trend — and now they’re just part of your daily life. That’s where we think chia seeds are headed.”

Read the full article →

Startup Turns Problem Solving Into Sport

April 15, 2012

SAN FRANCISCO — Strange secrets hide in numbers. For instance, an orange used car is least likely to be a lemon. This particular unexpected finding came to light courtesy of a data jockey who goes by the Internet alias SirGuessalot, who in fact wasn’t guessing at all. Instead, he and his partner, PlanetThanet, relied on the hard math skills that make them top contenders in a sport tailor-made for the 21st century: competitive number-crunching. The used car defect prediction contest is one of dozens hosted by San Francisco online startup Kaggle, whose creators believe they can tap the global geek population’s instinct for one-upmanship to mine better answers faster from the world’s ever-rising mountain of data. “Competitions bring together a wide variety of people into a wide variety of problems,” said Jeremy Howard, who became Kaggle’s president and chief scientist after winning multiple competitions himself. “You get people looking at stuff they’d never look at otherwise.” While the used car contest was fun, Kaggle has its eye on weightier scientific problems. In one contest, an English major who trained himself in data science built a model for predicting the progress of HIV infections in individual patients. In another, a scientist who studies glaciers for a living won a NASA-backed Kaggle competition to measure the shapes of galaxies by mapping the universe’s dark matter. The data problems that need solving are so important that those who find the solutions should be paid like professional athletes, said Kaggle founder Anthony Goldbloom. By turning data-mining into a crowdsourced contest, he hopes he’s created a way to make that happen. Already one of Kaggle’s contests offers a multimillion dollar prize. “We want to see the best data scientists earning more than Tiger Woods,” said Goldbloom, who started the company in his native Australia and recently came to San Francisco’s South of Market startup haven. The job market for mathematicians and statisticians has become hot as the sheer volume of data generated by ever faster, cheaper computing resources explodes. Data storage has become so inexpensive that a 2011 McKinsey and Co. report estimated that a disk drive capable of storing all the world’s music would cost about $600. Walmart stores 10 times more data on customer transactions and other parts of its operation than is contained in the entire Library of Congress, according to the same report. Analyzing the so-called “big data” deluge has become a key task for businesses in an effort to divine everything from which ads online customers will click to how much inventory they need to maintain. Political candidates analyze data to predict voting patterns. Dating websites try to predict ideal mates. Kaggle competitions focus on creating and testing formulas that can be used to make predictions based on the contents of giant datasets. The more accurate the formula, the better the chances it will accurately provide answers to complex questions, such as the orange used car being the least likely to break down. Goldbloom argues that no matter how many data scientists companies hire, relying on in-house data talent means companies can’t know if they’re getting the best solution. In a Kaggle contest, competitors find out as soon as they submit their solutions how they stack up against fellow contestants. They can keep trying for the duration of the typically three-month contests, which are highlighted on the company web site. As the first entries come in, the accuracy of competing models improves by leaps, Goldbloom said. As the contests progress, the improvement curve flattens out. Goldbloom and Howard believe that shows the competitive approach pushes data scientists toward the best solutions within human reach. “Crowdsourcing allows you to squeeze data dry,” Goldbloom said. Not all competitions are open to all comers, however. About 33,000 contestants have taken part in Kaggle’s public competitions, where prize money tends to top out at around $10,000. Winners can get invited to participate in elite private contests, which may include access to sensitive private data sets. Kaggle’s business model depends on deep-pocketed contest sponsors like banks seeking to outdo each other with more lucrative prize purses to attract the best competitors, who themselves in theory could then make their livings off Kaggle competitions alone. The biggest prize by far open to the public is $3 million offered by the California-based Heritage Provider Network medical group to the data scientist best able to use hospital admission records to predict the profiles of people most likely to end up in the hospital. The next-biggest purse is $100,000 in prizes put up by the Hewlett Foundation for algorithms that can automatically grade student essays. In its grandest vision of itself, the 11-person company backed by PayPal co-founder Max Levchin will have tens of thousands of competitions running simultaneously. Guilds of data gurus will band together to unleash software that enters competitions automatically. Kaggle becomes not just a way to push humans to perform at their best but to make machines themselves smarter as code-based contestants battle and “learn” from their mistakes. In this way, Howard said, data competitions become steps along the development of artificial intelligence systems such as self-driving cars. As for why orange used cars are most likely to be in good shape, the numbers did not hold the answer. One notion was that such a flashy color would only attract car fanatics who would be more likely to take care of their vehicles. That didn’t pan out, however, since the least well-kept used cars turned out to be purple. ___

Read the full article →

The top events in Asia this week

April 15, 2012

Asian markets are waiting for many important data during the upcoming week, where Australia will release the RBA meeting minutes and industrial production reading for February, besides Tertiary …

Read the full article →

Aussie Vulnerable after Chinese GDP ? RBA Minutes Paramount

April 14, 2012

Fundamental Forecast for Australian Dollar: Bearish Australian Dollar Rockets Up on News of Excellent Employment Report Aussie Leads after Labor Data while Yen and Dollar Struggle Aussie …

Read the full article →

Asian stocks drop on China’s downbeat data amid thinner volumes

April 9, 2012

Amid lower-than-usual volumes, with markets in Hong Kong, Australia, New Zealand, Thailand, Philippine, Europe and the US being closed for Easter, the MSCI Asia Pacific Index fell 0.5% after data …

Read the full article →

AUD, NZD Weakens as Higher Chinese Inflation Suggests Tightening

April 8, 2012

The Takeaway: Higher Chinese inflation could mean tightening > > reduced demand for Australian, New Zealand raw materials > > AUD, NZD falls The Australian and New Zealand dollars …

Read the full article →

Australian Dollar Vulnerable as Data, Technicals Imply Weakness

April 7, 2012

Fundamental Forecast for Australian Dollar: Bearish AUD/USD Classical Technical Report 04.06 AUD Slammed by RBA Outlook- NZD Resilience Here toStay? AUDUSD: Pullback May Offer Short Trade …

Read the full article →

The Condom iPhone Case… And 9 Others We Never Would’ve Thought Of (PHOTOS)

April 6, 2012

As the battle for access to contraception rages across America, it’s nice to know that one group of Australian entrepreneurs have taken matters into their own hands. Annex Products have created the Playa Case , $30 polycarbonate case for your iPhone capable of storing two condoms. The only thing more embarrassing than the pronounced circle in your wallet where a condom is? Having people find out you bought an iPhone case strictly for storing condoms. In a tongue-in-cheek introductory video the company introduces their product as a means to keep your sexual ambitions discreet from prospective partners. This got us thinking, how are other companies getting creative or downright weird with their iPhone cases?

Read the full article →

Rana Florida: Your Start-Up Life: Dan Pink on Why "Passion" Doesn’t Matter

April 5, 2012

Thursdays at the Huffington Post, Rana Florida, CEO of The Creative Class Group , will answer readers’ questions about how they can optimize their lives. She will also feature conversations with successful entrepreneurs and thought leaders about how they manage their businesses, relationships, careers, and more. Send your questions about work, life, or relationships to rana@creativeclass.com A conversation with Dan Pink , author/speaker/journalist Photo credit: Jerry Bauer Several of you have asked for advice on how to find a job or career that gets you excited to go to work every day. I was there myself, trapped in a dead-end 9 to 5 corporate job, forcing myself to get out of bed every morning. It drove me crazy when people would tell me I just had to look for a job that I could be passionate about. How does one get there when living pay check to pay check?! I decided to ask Daniel H. Pink, the New York Times best-selling author, speaker and former chief speech writer for Vice President Al Gore. Ten years ago he launched a revolution with his book Free Agent Nation: The Future of Working for Yourself . His latest book Drive: The Surprising Truth About What Motivates Us gives us a path to achieve high performance. Q. How do you advise people to find purpose and meaning in their jobs when their career is going nowhere and they can hardly make ends meet? That’s difficult. If you’re struggling for survival, the search for transcendence is a second order concern. But lots of people still manage to find moments of meaning in their day-to-day jobs. The key sometimes is to take a step back and examine what you’ve contributed — an elderly person cared for well, a child delivered safely to school, a customer whose life is a little better. That’s not always easy. And it’s not a magic bullet. But it can help. Q. So how do we turn our careers into our passions? You know, I’m not a huge fan of the concept of “passion” when it comes to careers. Instead of trying to answer the daunting question of “What’s your passion?” it’s better simply to watch what you do when you’ve got time of your own and nobody’s looking. That will give you the deepest insights into what you should be doing with your life. If people tap their strengths, and use them in the service of something larger than themselves, passion will take care of itself. Q. What kinds of programs can managers and companies put into place to motivate their workforce? Assuming companies are paying people fairly, they should do what they can to foster autonomy, mastery, and purpose. One of my favorite specific ideas is this: The Australian company Atlassian conducts what they call “FedEx Days” in which people work on anything they want for 24 hours and then show the results to the company the following day. These one-day bursts of autonomy have produced a whole array of fixes for existing products, ideas for new ones, and improvements to internal processes that would have otherwise never emerged. For creative tasks, the best approach is often just to hire great people and get out of their way. Q. Are you suggesting that offering someone a 50 per cent raise won’t motivate him or her to work harder? I don’t know anybody, myself included, who wouldn’t love a 50 per cent raise. But I defy you to find an organization taking that approach. Instead, most organizations dangle what I call “if-then” rewards — as in, “If you do this, then you get that” — bonuses, commissions, and like. Fifty years of social science tells us that “if-then” rewards are great for simple, routine, algorithmic work — whether turning the same screw the same way on an assembly line or adding up columns of figures in a white-collar office. However, the same research shows that “if-then” rewards don’t work very well at all once you start asking people to do things that require complexity, conceptual thinking, or creativity. The best use of money as a motivator is to hire great people and then pay them enough to take the issue of money off the table. For the sorts of artistic, empathic, inventive, non-routine work people in North America are doing today, reducing the salience of money is smarter than increasing it. By the way, even that juicy, non-contingent 50 per cent raise has some serious limits. People will be thrilled in the short-run, but over the long term (say, the third paycheck) the thrill will become the status quo — in much the same way that people quickly get used to a shiny new car. Q. In my previous careers, I hated performance reviews. A year’s worth of work was diminished to 30 minutes of interview questions. What is your view? Are they important? Are they accurate or useful? Traditional performance reviews have passed their sell-by date. Big time. There’s research showing that roughly two-thirds of performance appraisals have either no effect — or a negative effect! — on employee performance. That said, making progress in one’s work is enormously motivating, as Harvard’s Teresa Amabile has shown. And the only way to make progress is to get feedback on your performance. But giving people that feedback once a year — and in an awkward, kabuki theater-style meeting with their boss — is a joke. One of the key challenges of organizations today is to make the feedback that people get inside the organization as rich, relevant, and frequent as the feedback they get outside of the organization through their smartphones, games, and social networks. Q. If you asked your parents if their jobs were rewarding, purposeful and motivating, they probably would laugh. What caused the generational shift? One cause is rising affluence. Even in tough economic times like these, material living standards — deep into the middle class — are breathtaking by historic and international standards. People who grew up in that world — at least some of them — often seek meaning as well as money. Another, which is often overlooked, is the changing nature of jobs themselves. When jobs were routine, when we were simply following a set of rules — either with our bodies in a factory or with our brains in a white-collar office — they weren’t that interesting. Today, we’ve got less algorithmic work and more work that requires judgment, discernment, creativity, and other things people actually like to do. In economic terms, we’ve always thought of work as a disutility – as something you do to get something else. Now it’s increasingly a utility — something that’s valuable and worthy in its own right. Q. Can high schools and universities better prepare students for career decisions? If so, how? Absolutely. But the issue reaches deeper than most of us recognize. Education in general and higher education in particular is on the brink of a huge disruption. Two big questions, which were once so well-settled that we ceased asking them, are now up for grabs. What should young people be learning? And what sorts of credentials indicate they’re ready for the workforce? Taking on those issues is far more important than adding a few career counselors or buying extra copies of What Color is My Parachute? or The Adventures of Johnny Bunko . Q. You’ve interviewed a lot of free agents; how do they keep themselves motivated? It’s actually easier to stay motivated working for yourself than it is working for others. First, if you don’t get stuff done, you don’t earn anything — and therefore can’t pay the mortgage or feed the children. Second, most people working for themselves are doing things they enjoy. They’ve got autonomy in day-to-day efforts and a deeper connection to the work itself. Q. What has changed about the way we work since you wrote Free Agent Nation 10 years ago? One of the biggest changes that I’ve seen since writing FAN is the blurred boundary between who’s a free agent and who’s an employee. More and more risk is shifting to individuals, even individuals who hold regular jobs. They’ve got 401k’s rather than traditional pensions. They’re paying a much larger share of their health insurance and medical costs. They don’t expect to be with their employer forever. They’re in charge of their own education, training, and professional development. That makes them quite free agent-like in spirit — if not under US labor law and the IRS tax code. What’s more, I see more and more people moving across the borders of Free Agent Nation and Corporate America with considerable ease. It’s almost as if people have become dual citizens. Q. Will the increase in free agents affect our society? Or has it already? During a big swath of the 20th century, corporations acted as something of a de facto welfare state — providing health insurance, pensions, and other benefits. But with more people working for themselves, and with more large companies operating globally and shedding both explicit nationalities and broader obligations to their workforces, that arrangement is becoming obsolete. That means America will have to reckon with some seriously outdated systems. For instance, even after Obama’s health care reform, it’s still considered the norm to get health insurance from an employer. Yet there’s very little economic or moral logic behind that approach.

Read the full article →

Savoir Faire Perth Fashion Week To Showcase Indigenous Designers

April 5, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp (Global Fashion Wire) – Savoir Faire Perth Fashion Week 2012 is delighted to announce for the first time in Australian fashion week history …

Read the full article →

Engaging China: Realities for Australian Businesses – The ACBW 2102

April 5, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp China over the last ten years has had a profound impact on Australia, given Australia’s resources base and its small market influenced by …

Read the full article →

Australia’s Feb trade deficit shrinks to USD493.39m

April 5, 2012

(MENAFN) The Australian Bureau of Statistics (ABS) said that Australia’s trade deficit declined to USD493.39 million in February, reported Xinhua News. The ABS added that exports of goods and …

Read the full article →

Australia’s vehicle sales grow 3.9% in Mar

April 5, 2012

(MENAFN) The Australian Federal Chamber of Automotive Industries said that last month, sales of new cars in the country grew 3.9 percent from 2011′s same period, reported Reuters. The chamber …

Read the full article →

No Joke: Malaysia Airlines Creates Kid-Free Zones On Flights

April 4, 2012

It may have started as an April Fool’s joke, but now it seems one airline is looking to truly keep kids away from adults on particular flights. As reported by Australian Business Traveller today, Malaysia Airlines will be banning kids 12 and under from the upper deck of its Airbus A380 on specific flights, starting July 1. “The move is aimed at ensuring a more restful and enjoyable trip for business travellers who have to fly in economy,” the publication stated. The airline had come under fire last year when they did not install bassinets in the first class cabins of their Boeing 747s, excluding babies from flying in that part of the plane. As Malaysia Airlines managing director and CEO Tengku Azmil, explained on Twitter: Also hv many complaints from 1st class pax dat dey spend money on 1st class & can’t sleep due to crying infants The 12 and under ban was announced only two days after Canadian airline WestJet released a spoof video for April’s Fools , declaring child-free cabins on certain flights. “We’ve heard from many of our guests that they’re tired of kids screaming and running up and down the aisle and are looking for some peace and quiet,” Richard Bartrem, the airline’s VP of communications, says in the “ad” released Sunday. This sentiment, it appears, is very real, but that won’t come as a surprise to most travellers. Earlier this year, a family was actually kicked off a JetBlue flight after their 2-year-old child threw a tantrum, and a new category of nannies has been created specifically for family flights. While this ban won’t necessarily affect families with children too greatly — after all, there are plenty more seats on the Airbus — it could become restrictive if more airlines decide to take on the practice for business travellers. What do you think? Should airlines be allowed to ban children from parts of the cabin, or even from entire flights?

Read the full article →

Coal exports breakdown deficits the Australian Trade Balance

April 4, 2012

Australia Trade balance released its reading for February where the reading came disappointed as it showed unexpected deficit for the second consecutive month and the first consecutive deficit in …

Read the full article →

Australia Leaves Interest Rates at 4.25 Per Cent

April 4, 2012

(MENAFN – Qatar News Agency) Australia’s central bank left interest rates at 4.25 per cent after its monthly board meeting Tuesday, saying that “with growth expected to be close to trend, inflation …

Read the full article →

Court: Google Engaged In ‘Deceptive And Misleading’ Practice

April 3, 2012

CANBERRA (Reuters) – Search giant Google Inc engaged in “misleading and deceptive” conduct by allowing misleading paid advertisements to be shown with Internet search results, an Australian court ruled on Tuesday. The Australian Competition and Consumer Commission (ACCC) said the ruling meant that not only Google, but other Internet search engines, would now be held responsible for “deceptive paid search results”. Google had earlier won a court ruling on the subject, but a full bench of Australia’s Federal Court on Tuesday overturned that decision on appeal by the ACCC. In its judgment, the court said between March 2006 and July 2007, Google published search results for queries related to Honda Australia, with results showing paid advertisements for a Honda competitor CarSales. It said the advertisements suggested CarSales was linked to Honda Australia. The court said Google should be responsible for search results and that by publishing the paid advertisements had “engaged in conduct that was misleading or deceptive”. “It is Google’s technology which creates that which is displayed,” said the judges, who examined four cases of misleading search results. The court ordered Google set up a compliance program to ensure paid advertisements on its search engine did not mislead consumers, and ordered Google to pay costs for the court action, which has been running since 2007. Google had argued it was not responsible for the misleading search results, as it was clear that it was only a conduit for the advertiser. Google did not respond to Reuters requests for comment, but told local media reported that the company was disappointed with the judgment and would consider its options. The consumer watchdog ACCC said the ruling was an important decision and would impact all Internet search engines. “It makes it clear that Google and other search engine providers which use similar technology to Google will be directly accountable for misleading or deceptive paid search results,” ACCC chairman Rod Sims said in a statement. (Reporting By Maggie Lu YueYang and James Grubel; Editing by Michael Perry)

Read the full article →

Dynasty Metals Australia Limited (ASX:DMA) Update on Farm-out Joint Venture

April 3, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Dynasty Metals Australia Limited (ASX:DMA) entered into a joint venture agreement with China Coal Geology Engineering Corporation (‘CCGEC’) …

Read the full article →

Australian Dollar Sold as Traders Fear Global Growth Slowdown

April 3, 2012

THE TAKEAWAY: Reserve Bank of Australia Maintains Cash Rate at 4.25% as Expected, Policy Statement Dovish > Fears of Global Growth Slowdown Return, Leading Traders to Adjust Portfolios > …

Read the full article →

Australia’s Mar manufacturing activity declines

April 2, 2012

(MENAFN) The Australian Industry Group (Ai Group) said that in March, the country’s manufacturing sector posted negative activity due to weak demand, reported Xinhua News. The group added that …

Read the full article →

13-Foot Shark Kills Businessman

March 31, 2012

PERTH, Australia — A man was killed by a 4-meter (13-foot) shark on Saturday while diving with his brother off a beach in southwestern Australia, authorities said. It’s the fourth fatal shark attack in Australia since September, all of them off the continent’s southwest corner. Businessman Peter Kurmann, 33, and his brother Gian Kurmann, 34, were diving from a boat off Stratham Beach, about 230 kilometers (140 miles) south of Perth, the Western Australia state capital, when the younger brother was attacked midmorning, state police spokeswoman Sgt. Naomi Smith said. She said the victim, from the town of Vasse near the bay where the attack took place, was apparently killed instantly. His brother was unharmed. The Fisheries Department has launched an investigation, which will include an examination of bite marks on the victim’s body to determine the shark species. Department manager Tony Cappelluti said Gian Kurmann reported seeing “a four-meter (13-foot) dark, shark-like shape” in the water. Authorities won’t speculate on the species. The body was recovered by his brother helped by the crew of a nearby boat and taken south to the town of Busselton, Cappelluti said. An airplane surveillance team had later spotted a shark in the area and a government boat equipped with shark capture gear was en route to the scene, Cappelluti said. Experts have been unable to explain the spate of attacks in Australia’s southwest, but agree that different sharks are likely responsible for each fatality. The last fatal attack in Australia was American George Thomas Wainwright, 32, who was taken on Oct. 22 by a 3-meter (10-foot) great white while diving solo off a boat near Rottnest Island, 18 kilometers (11 miles) west of Perth. A great white of the same size is believed to have taken 64-year-old Australian swimmer Bryn Martin off Perth’s premier Cottesloe Beach on Oct. 10. The attacks followed the Sept. 4 death of bodyboarder Kyle Burden, 21, who was killed by a shark described as 4.5 meters (15 feet) long at a beach south of Perth. Witnesses were unsure of the type of shark. Australia averages little more than one fatal attack a year along an expansive 35,000-kilometer (22,000-mile) coast, although attacks have become more common in recent decades as more people take part in ocean recreation.

Read the full article →

Murdoch Declares War On ‘Enemies’

March 29, 2012

By Georgina Prodhan LONDON, March 29 (Reuters) – An angry Rupert Murdoch on Thursday declared war against “enemies” who have accused his pay-TV operation of sabotaging its rivals, denouncing them as “toffs and right wingers” stuck in the last century. Separate reports by the British Broadcasting Corporation and the Australian Financial Review newspaper this week said that News Corp’s pay-TV smartcard security unit, NDS, had promoted piracy attacks on rivals, including in the United States. NDS and News Corp had already denied the allegations, but on Thursday the media conglomerate mounted a concerted fight back as a corruption scandal that has plagued its British newspapers began to encroach on its far more lucrative pay-TV business. “Seems every competitor and enemy piling on with lies and libels. So bad, easy to hit back hard, which preparing,” News Corp Chief Executive Murdoch, 81, tweeted. News Corp, whose global media interests stretch from movies to newspapers that can make or break political careers, has endured an onslaught of negative press since a phone-hacking scandal at its News of the World tabloid blew up last year. At its height last July, Murdoch told British parliamentarians: “This is the humblest day of my life,” after meeting the family of a murdered schoolgirl whose phone News of the World journalists had hacked. On Thursday, it appeared that Murdoch had had enough of apologising. “Enemies many different agendas, but worst old toffs and right wingers who still want last century’s status quo with their monopolies,” he tweeted. For an avowed republican such as Murdoch, describing someone as a rich and upper class “toff” is a damning insult. The BBC has a long history of ideological clashes with BSkyB, which is 39 percent owned by News Corp, and both Rupert and his son James Murdoch have publicly attacked the British public service broadcaster over the years. The Australian Financial Review is owned by Fairfax Media , the main rival to Murdoch’s News Ltd newspaper group in Australia. “INACCURATE CLAIMS” James Murdoch sits on the board of NDS, which News Corp and co-owner private equity firm Permira agreed to sell for $5 billion to Cisco this month. He is also non-executive chairman and former CEO of BSkyB. The younger Murdoch has been criticised for not uncovering the scale of phone-hacking at the News of the World, though he had not yet joined the UK newspaper operation when the hacking took place. He has since moved to New York after being promoted within News Corp to deputy chief operating officer, and has severed all ties with the British newspapers. His focus is now the company’s international pay-TV operations, where he made his career. Chase Carey, News Corp’s COO and James Murdoch’s immediate boss, issued a statement late on Wednesday in which he condemned both the BBC Panorama documentary and other media worldwide who had reported its claims. “The BBC’s Panorama program was a gross misrepresentation of NDS’s role as a high quality and leading provider of technology and services to the pay-TV industry, as are many of the other press accounts that have piled on – if not exaggerated – the BBC’s inaccurate claims,” he wrote. NDS has complained that it was not asked for its side of the story before Monday’s Panorama, which claimed NDS had leaked secret codes that allowed rampant pirating of BSkyB rival ITV Digital, which went bust in 2002. On Thursday, NDS’s Executive Chairman Abe Peled published a detailed letter to Panorama accusing the documentary of using manipulated emails to support its allegations, and demanding that the programme retract the claims. The BBC said: “We stand by the Panorama investigation. We have received NDS’s correspondence and are aware of News Corp’s rejection of Panorama’s revelations. However, the emails shown in the programme were not manipulated, as NDS claims, and nothing in the correspondence undermines the evidence presented in the programme.” Also this week, the Australian Financial Review published a story claiming that NDS had allowed piracy to thrive at its client U.S. satellite broadcaster DirecTV, which Murdoch had ambitions to buy, even though it had a fix. It reported that NDS ran a secret unit in the mid-1990s to sabotage its competitors. The stories were the result of a four-year investigation by investigative reporter Neil Chenoweth, who has written two books about Murdoch. The AFR’s Editor-in-Chief Michael Stutchbury told Reuters on Thursday: “We fully stand by our reports in the paper and by Neil Chenoweth’s extraordinary investigation.” “We are not motivated in any way by any desire to damage any financial rival to the company that runs the Financial Review. We are simply following the story and publishing what we have uncovered,” he said. None of the evidence presented by Panorama and the AFR this week suggests that the Murdochs or any other News Corp executives were aware at the alleged practices at NDS. NDS has won several court cases brought by rivals accusing it of promoting piracy, while others have been dropped – in one case because News Corp bought a subsidiary from the rival, Vivendi, which at the time was struggling with debt. News Corp made $3.8 billion in revenues and $232 million in operating profit from satellite TV in its last fiscal year. It does not detail financial results for its newspapers but its UK titles bring in less than 3 percent of group profit.

Read the full article →

Qantas, China Eastern Airlines to establish new budget carrier

March 28, 2012

(MENAFN) Australia’s Qantas’ CEO, Alan Joyce, said that the carrier inked a deal with China Eastern Airlines to form Jetstar Hong Kong, a new budget airline, reported Xinhua News. Joyce added …

Read the full article →

Australia’s banking system still in good condition: CB

March 28, 2012

(MENAFN) The Reserve Bank of Australia (RBA) said that the Australian banking system is in a good shape due to healthier global economy, reported Xinhua News. The central bank added that lending …

Read the full article →

Australian govt bans Huawei from bidding for internet project

March 26, 2012

(MENAFN) Australian Prime Minister Julia Gillard said that China’s Huawei is not allowed to bid for a project that will develop a high-speed Internet network in Australia, reported AP. Gillard …

Read the full article →

China Eastern, Qantas establish low-cost carrier

March 26, 2012

(MENAFN) China Eastern Airlines and Australia’s Qantas stated thay they established a joint venture for a low cost carrier called Jetstar Hong Kong Limited, reported Xinhua News. The airlines’ …

Read the full article →

America’s Asia tilt

March 25, 2012

(MENAFN – Khaleej Times) Media coverage of President Barack Obama’s high-profile visit to Australia and plan to boost US presence in Asia may mask America’s shrinking global footprint. The …

Read the full article →

China, Australia ink USD3.174b currency swap deal

March 23, 2012

(MENAFN) The Peopl’e Bank of China stated that it signed an agreement with Australia’s Center Bank for a currency swap worth USD31.74 billion, reported Xinhua News. The agreement is for an …

Read the full article →

Lori Wallach: Trade Deals: Backdoor Financial Deregulation

March 20, 2012

Wall Street has a new power tool to demolish financial stability policies, and it comes from a source many would not expect. It’s not the cozy relationship between Wall Street and some members of Congress, or the hordes of bankster lobbyists who roam Capitol Hill. Wall Street has obtained and is now pushing for more powers to challenge U.S. and other nations’ financial regulations via the international agreements that it has sold to a skeptical American public under the appealing brand of export-expanding “free trade” deals. In Sunday’s New York Times , Gretchen Morgenson described how the financial provisions of the World Trade Organization (WTO) and NAFTA (the North American Free Trade Agreement) operate as backdoor deregulation instruments. Those of us who have studied these so-called “trade deals” understand that these agreements have very little to do with trade per se. Rather, they mainly include new rights for corporations and new constraints on governments’ non-trade regulatory policy space. As my piece in a special edition of the American Prospect shows, instead of following through on President Obama’s campaign commitments to fix this backdoor corporate power grab, now the administration is rushing to massively expand this mess by completing a Trans-Pacific Partnership (TPP) deal now being negotiated behind closed doors with eight Pacific Rim nations . Like NAFTA before it, the TPP would establish a two-track judicial system for corporations, giving them the right to attack our financial regulations before tribunals of three private sector attorneys operating under World Bank and UN arbitral rules . This “investor-state” system allows firms to skirt our courts and laws to directly sue our governments for cash damages over regulatory policies that they claim undermine their “expected future profits.” And, this is no hypothetical threat. Currently, Chevron is using an “investor-state” tribunal to try to avoid paying $18 billion to clean up horrific contamination in the Amazon ordered after 18 years of U.S. and Ecuadorian court rulings. Philip Morris is using the system to attack Australian and Uruguayan cigarette plain packaging laws. More than $675 million has been paid by governments to corporations under U.S. pacts’ “investor-state” provisions alone, 70 percent of which has been in attacks on environmental, health and other non-trade policies. There are 11,933 corporations cross-registered between the TPP nations to which the Obama administration is now pushing to extend these outrageous powers. Morgenson’s article serves as a rallying cry for those who care about financial stability or about the sovereign right of the Congress and state legislatures to enact an array of public interest policies prohibited in these pacts. She notes threatened attacks on the Volcker rule using NAFTA. The Volcker rule is a part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. It was designed to stop banks from making the kind of risky speculative moves that contributed to the financial crisis, by preventing them from making bets for themselves with deposits backed by taxpayers. The Investment Industry Association of Canada argues that ” the Volcker rules may contravene the NAFTA trade agreement.” Morgenson also revealed that the Obama administration had blocked a call simply to review the 1990s WTO financial sector rules to ensure that they were consistent with the regulatory push underway in many countries. Last month, Rep. Barney Frank (D-Mass.) sent a letter to the administration calling out the administration for blocking this review, focused on how these rules ban the use of capital controls — key tools to counter floods of speculative money that now even the International Monetary Fund (IMF) considers “an essential feature of the monetary policy framework.” As Morgenson notes, such WTO rules are controversial among the trade deal’s member countries. Over a year ago, Barbados raised these problems at the WTO and proposed reforms. When Ecuador, backed by a weighty block of other WTO member countries, asked for a simple review of these rules, the U.S. blocked it – a move that is hard to understand as anything but promoting Wall Street’s best interest over those of the American public. The problems that Morgenson exposes in the WTO and NAFTA are all the more pressing, since the U.S. is currently negotiating a new “trade” deal. Once again, with the TPP, we are hearing the same sales pitch about how the deal could expand exports. This is a shameless claim, made even with respect to the recent enacted Korea Free Trade Agreement, which the official U.S. International Trade Commission study concluded would increase the U.S. trade deficit and specially slam seven manufacturing sectors . The TPP is being negotiated behind closed doors and the text is being kept secret. However, we know that U.S. negotiators are pushing to extend a ban on capital controls, impose limits on domestic financial regulation and again empower direct corporate attacks on these policies through the investor-state regime. The TPP (which now includes Vietnam, the U.S. and seven other Pacific Rim nations, but would be open for China, Russia and others to join) would outright prohibit certain types of financial regulations that countries would no longer be allowed to “adopt or maintain” even if they apply to domestic and foreign firms alike. If it sounds like the Bush administration is negotiating the deal, it is because the draft text was written during the Bush presidency. Morgenson’s article should serve as a wakeup call that so-called “trade” deals aren’t really mainly about trade but operate as a one-percenter power tool. As we mark 18 years of NAFTA’s damage, there is still time to stop the TPP. If President Obama wants to ensure financial stability here and abroad, he must tell his trade negotiators to stop pushing a TPP that is emerging as NAFTA on steroids with Asia. In the meantime, Americans must demand that the TPP text, which had its 11th round of negotiations last week in Australia, be made public. Certainly we must have the same access as the 600 corporate official U.S. trade “advisors” who are allowed to see the text. The last time a regional agreement of this sort was attempted, the Free Trade Area of the Americas, a draft text was released – by the Bush administration. But repeated demands to release the TPP text have to date been rebuffed by the Obama administration, even as it touts its commitment to government transparency.

Read the full article →

Marmite Maker To New Zealand: ‘Don’t Freak’ Over Shortage

March 20, 2012

WELLINGTON, New Zealand — It’s a sticky black sandwich spread that much of New Zealand adores, though detractors liken it to axle grease. And when it runs out, it’s Marmageddon. The manufacturer of Marmite says its supplies of the yeast-extract product ran out this week, four months after earthquakes forced it to close the only factory that made New Zealand’s version. “Don’t freak. We will be back soon!” the company, Sanitarium, says on the Marmite website. But there are signs of freaking in this country of 4.4 million people, which eats its way through 640 metric tons of the savory spread every year. “I can confirm there was a rush on Marmite yesterday,” Antoinette Shallue, spokeswoman for the grocery chain Foodstuffs, said in an email. “Clearly Kiwis took the news of the impending shortage very seriously!” Some are calling the crisis “Marmageddon.” Others are auctioning their supplies of Marmite online. Even the country’s leader sounds concerned. “I’m going to have to go thin I’m afraid. I have a very small amount in my office and once that runs out I’m obviously aware that supplies are very short,” Prime Minister John Key told television station TV3 on Tuesday. At the risk of angering Marmite fans, Key went on say that he could also eat Vegemite, a rival spread that is made in Australia. Both Marmite and Vegemite are made from yeast extract. Marmite was launched in England and, at first, was imported into New Zealand. But by 1919, New Zealand had come up with its own version, which differs in taste significantly from the English version. As a result, importing English Marmite simply won’t work, said Pierre van Heerden, Sanitarium’s general manager. “People have grown up with Marmite. It’s an iconic New Zealand brand,” van Heerden said. He’s advising people to use their remaining supplies sparingly: for instance, by spreading Marmite on warm toast, so that it goes further, or on just one side of the bread in double sandwiches. The problem traces back to a series of earthquakes in the city of Christchurch that last year killed 185 people and destroyed many buildings. In November, Sanitarium decided the quake damage was severe enough it needed to close its Christchurch factory, the only one that makes the New Zealand style of Marmite. This week, it ran out of supplies. Supermarkets still have some jars left, but they’re going fast. “We anticipate running out of stock of Marmite in the next two to three weeks across all our stores, and unfortunately we have no control of the situation,” Murray Johnston, general manager of merchandise at grocery chain Progressive Enterprises, wrote in an email. Van Heerden said he has kept the 25 people who make Marmite on the payroll and hopes to resume production by July – when either the factory will be repaired or the production line will be moved. In the meantime, one would-be entrepreneur has listed a jar of Marmite for a minimum bid of 3,500 New Zealand dollars ($2,900) on the auction site Trade Me, admitting that: “Seal broken, had to take a couple of toasts worth just to say goodbye to my prized Marmite.” Nobody has placed a bid.

Read the full article →

Venture Minerals (ASX:VMS) Doubles DSO Resource Base Mt Lindsay, Tasmania

March 20, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Australian mineral exploration company, Venture Minerals Limited (ASX:VMS)(PINK:VTMLF), is pleased to announce a maiden resource statement …

Read the full article →

The cautious trading is dominating the Asian session 

March 20, 2012

The Asian trading session was very cautious today, where most of the major Asian currencies were trading in a narrow positive range. As, the Australian dollar rose during March to about the highest …

Read the full article →

Australian Bauxite (ASX:ABZ) State One Stockbroking Analyst Report

March 18, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Australian Bauxite (ASX:ABZ) Announce, consequent to the outstanding drilling results at Taralga, State One Stockbroking has set a price …

Read the full article →

Australian Resources Go To New York – Casimir Capital’s 2nd Australian Resources Conference

March 17, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Casimir Capital, a leading investment bank specializing in natural resources, has announced the 2nd Annual Casimir Capital Global Australian …

Read the full article →

Australian Premier Ashamed Of Tax

March 15, 2012

* New mining tax, carbon levy set to start in July * Australia trying to keep up with Chinese demand -Barnett * State premier open to foreign workers, wages must be good By John O’Callaghan SINGAPORE, March 15 (Reuters) – Colin Barnett, the premier of resource-rich Western Australia, said on Thursday a mining tax set to take effect in July had damaged his country’s reputation and a new levy on carbon pollution would do little to promote cleaner sources of power. He also said he saw no let-up in China’s enormous hunger for energy, minerals and other materials for at least a decade, amid fears of a slowdown in the world’s second-largest economy. The profits-based mining levy of 30 percent is viewed as a “tax on China” — a huge importer of Australian iron ore and coal — and a better course of action would have been to add a mining surcharge to the taxes companies pay, he said. “It’s probably the worst-designed tax I have ever come across,” Barnett, in Singapore to open a Western Australia trade and investment promotion office that will focus on Southeast Asia, told journalists. “There is no doubt the proposed Minerals Resource Rent Tax has damaged Australia’s reputation as a mining economy and investment source in Asia.” Australia’s lower house of parliament narrowly passed the mining tax measure in November and it is now being debated in the Senate, which is expected to endorse it. Western Australia’s economy is driven by mining, petroleum products and agriculture, heavily exposing companies operating in the state to the tax on production of iron ore and coal — the country’s two biggest exports. The same goes for a new carbon pricing scheme designed to help Australia be more energy-efficient and support efforts against climate change, which Barnett called a “poor policy.” “If you have multimillion-, multibillion-dollar projects and you have a change in your cost of production, you’re not going to get people rebuilding their plant because of this. They will simply pay the tax,” he said. “I don’t think it will cause a significant shift towards cleaner sources of power generation, nor will it cause a significant shift in people’s consumption of electricity.” The scheme, also due to start in July, is a divisive issue in Australia — one of the top per-capita carbon polluters — as mining, manufacturing and energy companies complain it will harm earnings and cost jobs. As part of efforts to win support for the measure, the government will offer A$8.6 billion ($9 billion) worth of free carbon permits to polluting industries in the first three years. The scheme will impose an initial price of A$23 per tonne of carbon pollution before a switch to a market-based emissions trading programme in 2015. For the top rate of assistance, the effective price is cut to A$1.30 per tonne in the first year. FEEDING CHINA’S APPETITE Barnett’s state, making up the whole western third of Australia, accounts for nearly 40 percent of the vast country’s exports and more than 15 percent of its gross domestic product. China is by far the largest consumer of Western Australia’s output, taking 42 percent, followed by Japan, South Korea, India and Thailand, national government data show. “When China eventually starts to plateau in its growth rate that will have an impact but that’s still, in my view, a long time away — at least a decade or more,” Barnett said. “The problem now is for Australia and particularly mining, iron ore production, actually to keep up with the demand.” China is likely to keep its iron ore imports from Australia and Brazil “roughly balanced” to ensure security of supply, he said, with his country having the advantage of proximity. Natural resources helped Australia weather the worst of the 2008 global financial crisis but the benefits are not flowing to everyone as manufacturers and retailers contend with a strong Australian dollar and tepid consumer sentiment. With mining expansion facing the challenge of high labour costs and shortages, Barnett said he supports the hiring of foreign workers on a project-by-project basis but they must get Australian wages and good conditions. “We can’t get into low-cost labour,” he said. Major players in Western Australia’s mining sector include BHP Billiton , Rio Tinto and China’s CITIC Group. In energy, they are Chevron , ExxonMobil and Royal Dutch Shell — all partners in the huge Gorgon natural gas project.

Read the full article →

Australia’s new motor vehicle sales remain unchanged in Feb

March 15, 2012

(MENAFN) The Australian Bureau of Statistics (ABS) reported that sales of new motor vehicle in the country remained unchanged in February, reported AP. The ABS said total number of new vehicles …

Read the full article →

Focus Minerals Ltd (ASX:FML) Reports Strong Revenue and Gold Production For The Half Year

March 15, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Focus Minerals Ltd (ASX:FML), a leading Australian gold producer and explorer, is pleased to report a strong result for the half year ended …

Read the full article →

Australian business confidence fall in February 

March 12, 2012

Australia’s business confidence slumped in February to reach the lowest level in at least five-month, as the currency’s strength and the central bank’s unexpected decision to pause …

Read the full article →

Scott Bittle: For Younger Workers, the News Gets Worse and Worse

March 11, 2012

A new analysis from the Economic Policy Institute shows what a lot of younger Americans have probably noticed for themselves: even if you’re lucky enough to have a job, it’s still tough to get ahead . Over the last decade, wages for younger male college grads have plummeted by 11 percent, while women college grads saw their paychecks drop by 7.6 percent. Overall, wages overall rose 3 percent during the same period. That’s not great, but at least it’s not in negative territory. European economies are infamous for sky high unemployment and low wages among younger workers, but problems have been brewing here too for quite a while. The TV show Friends may not be widely-recognized for its economic forecasting, but a 1995 episode called ” The One with Five Steaks and an Eggplant ” actually seems prescient in summing up the situation younger Americans face some 15 years later. In case you haven’t caught any of the seemingly endless reruns lately, three of the characters (Chandler, Ross and Monica) are reasonably well off. They’re on the road to promising careers in fields that seem to offer a solid future, and they’re generally financially comfortable. By contrast, Rachel, Joey, and Phoebe cycle through a series of bummer jobs, often struggling to make ends meet. In the steak/eggplant episode, the six go out to dinner to celebrate Monica’s recent promotion. At a posh restaurant, the more prosperous friends enjoy a good meal and generally make merry. Meanwhile, their economically-stretched pals nervously scan the menu for the cheapest selections, but even chicken is pricey. Outrageously pricey. At one point, Joey asks “What are these, like famous chickens?” The uncomfortable dinner out is a reasonable analogy for what’s happening to younger people in today’s workplace: If you’re well-educated and in the right field, you’re probably on your way. If you’re not, living the good life could be out of reach. The amount of education you have is the starkest dividing line. Despite the generally bleak jobs picture in 2010, college graduates with doctoral degrees had an unemployment rate of less than 2 percent and typically earned more than $1,500 a week. If you had a B.A., the jobless rate was just over 5 percent, with pay averaging more than $1,000 weekly. For workers with just a high school diploma, unemployment topped 10 percent with weekly wages of $626. The Bureau of Labor Statistics lays out the gaps in a graph tellingly entitled “Education Pays.” But the kind of education you have matters too. As the New York Times recently reported, healthcare majors graduating in 2009-2010 had an unemployment rate of 5.4 percent, well below the overall national average. Graduates who majored in the humanities and the arts faced a tougher job market. The highest unemployment rates were for architecture grads — a stunning 13.9 percent . And the importance of picking the right field is likely to become even more crucial. In the past, technology and globalization mainly affected less-well-educated workers. Now, the potential job loss is creeping up the education ladder. A study by the National Academies reported that Australian radiologists already read MRIs of American patients, Costa Rican accountants help prepare the tax returns of U.S. businesses, and big companies like GE do much of their R&D overseas . In years to come, if a college-educated Brazilian or South Korean can sit down at a computer and do your job just as well as you can, then your economic future is at risk. And in another cruel fact of economic life, younger Americans who got snared in the Great Recession may not be able to bounce back even though the U.S. economy seems to be recovering. Economic studies show that people who come into the workplace in a “bad” jobs market often have lower salaries over their entire career . When the job market is tight (and when you have college loans to pay) there’s pressure to take a job quickly even if it doesn’t use all your their skills and education. But according to Austan Goolsbee, former chair of the White House Council of Economic Advisers, younger employees tend to establish their base salary and accumulate much of their wage growth in their first decade on the job . When you spend years languishing in a job that don’t pay much or offer much room for advancement, you may never be able to catch up. In the Friends episode, there’s a brief spat over the how to split the bill for dinner, but by the end of the program, the six friends are all friends again. It’s that kind of show. Real life is another matter. There are a lot of angles to the jobs crisis, but this is one of the most important: if we don’t start thinking seriously about to build an education system, a counseling system, and a job market that offers genuine opportunity for younger workers, both we — and they — will be paying the price for decades to come.

Read the full article →

Key data releases from the Pacific from the BoJ rate decision to the Australian Consumer confidence  

March 11, 2012

The Asian region is waiting for important economic data. Japan will announce the rate decision along with January’s industrial production data, in addition to the Australian consumer confidence for …

Read the full article →

Australian Dollar to Weaken Further Amid Heightening Growth Fears

March 10, 2012

Fundamental Forecast for Australian Dollar: Bearish AUDUSD: Bounce Hinted at Trend Line AUDUSD Early March Pattern Same as Early Feb in Form AUDUSD Early March Pattern Same as Early Feb in …

Read the full article →

The Asian Pacific ends the week with steady rates as growth remains fragile

March 10, 2012

The Asian Pacific ended a week of heavy and significant economic data. The region’s major economies New Zealand and Australia released upbeat data this week except for Japan that reported …

Read the full article →

Fake Pop Star Sells Out Shows In Japan

March 9, 2012

By Chris Meyers TOKYO (Reuters) – Hatsune Miku has a following that would make most Japanese pop stars green with envy, with thousands of fans at every concert and a big international following. She never misses a beat, fluffs a line or messes up a step. But then she doesn’t really exist. Hatsune Miku is computer generated, based on a voice-synthesizing programme developed by the company Crypton Future Media that allows users to create their own music. Her image was produced by the company, but her music is a creation of her fans, Her best songs — the ones headlined at her concerts — have emerged from more than 20 different people. The fans know what the fans like. All 10,000 tickets for the digital diva’s four shows in Tokyo — two on Thursday and two on Friday — sold out in hours despite the 6,300 yen ($76) ticket price. Hatsune Miku was projected onto the stage at the shows while thousands of other fans packed into 24 cinemas to watch live. “It was absolutely amazing, it’s like my heart is still dancing. I don’t think I’ll be able to sleep,” 21-year-old Yuya Ofuji said as she came out of a concert. Another fan, Hazuki Koide, showed her dedication by dressing up as Hatsune Miku. “I’ve liked her for a long time and wasn’t able to come to the concert last year and watched it in a movie theatre. But this year I thought that I absolutely had to make it,” Koide said. The concert, billed as possibly Hatsune Miku’s last, was also broadcast in cinemas in Shanghai, Hong Kong and Taiwan. Some fans came from further afield to catch what could be their idol’s last gig. “We thought we really had to make a real effort to come because we wouldn’t get a chance to see her in the future,” said Daniel Noll who flew in from Australia. It’s not clear why organizers said these shows could be Hatsune Miku’s last, but if they are, she’ll be going out on a high. Some online polls have her down as the most-requested singer for the London Olympics opening ceremony. Whatever her future, the virtual star has made a real difference to many fans, they say. “She gave a lot of people that didn’t have a voice, a voice to express their feelings and thoughts,” Noll said. (Editing by Elaine Lies and Robert Birsel)

Read the full article →

Enerji Limited (ASX:ERJ) Opcon Powerbox Installation Progresses at Carnarvon

March 8, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Perth-based clean power company Enerji Limited (ASX:ERJ) is progressing the installation of Australia’s first Opcon Powerbox waste heat to …

Read the full article →

Australia’s jobless rate up to 5.2% in Feb

March 8, 2012

(MENAFN) The Australian government said that as employment dropped in February, jobless rate in the month grew to 5.2 percent, reported Reuters. The government added that employment declined …

Read the full article →

A huge data was issued today that affected the Asian trading

March 7, 2012

The Asian trading session today is full of fluctuations, where most of the major Asian currencies were trading negatively, where a huge data was issued today by New Zealand, Japan and Australia that …

Read the full article →

Australia’s GDP posts 0.4% growth in Oct-Dec

March 7, 2012

(MENAFN) The Australian Bureau of Statistics (ABS) said that in the December quarter, the country’s gross domestic product (GDP) grew by 0.4 percent, reported Xinhua News. The agency added that …

Read the full article →