Australia

Canberra defies property discounting trend

Canberra defies property discounting trend

A study has discovered that Canberra is included among the places having the lowest levels of property discounting in the country.

Units in Melbourne, Brisbane, Adelaide and Perth were discounted on average by more than 6% in the year to February 2009.

Property analyst Cameron Kusher feels that Canberra had the lowest levels of vendor discounting of units of any capital city, at 3.6 per cent.

$1.2 billion paid in penalties by depositors to Banks

$1.2 billion paid in penalties by depositors to Banks

As customers overdrew accounts or fell behind on credit card and loan repayments since the nation was hit hard by recession last year, almost $1.2billion was paid in bank penalties.

However when the fee haul were attacked by political leaders and consumer groups, the banks declared that only if customers change their behavior was there a chance to reduce fees.

As per the latest figures unveiled by the Reserve Bank yesterday, total fees collected by banks rose more than 8 per cent to $11.6 billion last year, the fastest growth rate in five years.

Tomato Product Suspected To Cause Hepatitis A

Tomato Product Suspected To Cause Hepatitis A

Health authorities in Victoria and South Australia have linked semi-dried tomato product mixed with garlic, herbs and oil to a spike in hepatitis A cases.

South Australia director of public health Kevin Buckett said that there have been 26 cases of Hepatitis A in the state since March. There have been more than 70 in Victoria and the number of such cases has also increased in Queensland.

Lion Nathan witnesses a rise in its earnings

Lion Nathan witnesses a rise in its earnings

As per the media reports, Lion Nathan Ltd’s first-half profit rose 6.9 percent as it sold more premium domestic beers. Lion Nathan is the Australian brewer and has been bought recently by Kirin Holdings Co. 

A statement issued by Sydney- based Lion Nathan said that its net income rose to A$176 million ($136 million) in the six months ended March from A$164.6 million a year earlier.

Ageing population issue urged to be addressed by Government

Wayne Swan

A retirement investment specialist believes when it comes to the retirement policy, New Zealand should take a leaf out of Australia's book.

Australia's Treasurer Wayne Swan made an announcement in this month's budget that by 2023 the age a person is eligible to receive a pension will increase from 65 to 67.

In addition, retirement tax benefits for higher-paid individuals will be decreased and to pay for a weekly increase for present pensioners the Government would discontinue matching contributions to low and middle-income earners.

Fairfax Media ratings downgrade hikes interest costs

Fairfax Media ratings downgrade hikes interest costs

Fairfax chief executive Brian McCarthy said that in the coming financial year the decision would increase the company’s interest expenses by about $10 million.

The ratings agency said that the downgrade reflected the deterioration of Fairfax's advertising earnings.

Pages