Australia

Cash rate left by RBA at 3%

Reserve Bank of Australia

Despite further signs of deterioration in the economy, the Reserve Bank of Australia (RBA) has left the cash rate unchanged that could witness the unemployment rate hit six per cent this week.

The cash rate has been widely tipped by economists and financial markets, being left at a 49-year low of 3.0 per cent following Tuesday's monthly RBA board meeting in Sydney.

In the month of April the central bank reduced rate by 25 basis points, bringing total reductions since September to 425 basis points.

Fulton Hogan expands Australian operations

Fulton Hogan

Fulton Hogan, South Island-based road maker is expanding its Australian operations, buying half of Melbourne-based Pioneer Road Services.

The turnover from Fulton Hogan's Australian businesses would be enhanced by more than 25% via the purchase and make its operations on both sides of the Tasman at similar size.

It was expressed by Chief executive Dave Faulkner that the turnover in Australia would rise to nearly $1 billion via this move which will also enhance the number of towns and cities covered by the company.

Vodafone Australia and Hutchison Telecommunications likely to merge

Vodafone Australia and Hutchison Telecommunications likely to merge

Vodafone Australia and Hutchison Telecommunications have proposed to merge and would operate under the brand name of Vodafone, VHA.  After the merger VHA’s revenue shall go up to $ 4 billion and its customers to about 6 million.

Bushfire victims to be identified with the help of NZ experts

Bushfire victims to be identified with the help of NZ experts

Southern Australia recently went through a great deal of loss after the bushfires, and now New Zealand police forensic experts have come forward with their helping hand in identifying the victims.

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