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Merchandise imports drop to $10.397 billion in May: ABS

The total value of international merchandise imports decreased from $10.959 billion in April 2003 to $10.397 billion in May 2003, the Australian Bureau of Statistics (ABS) said today. The bulk of the imports was in the machinery and transport equipment ...

Sherry accuses Government of "another major super bungle"

Shadow Minister for Retirement Incomes and Savings Nick Sherry today said that a $245 million hole has been blown in the Howard government's Budget due to the failure of temporary residents to collect their superannuation when they permanently leave ...

Unemployment rate drops to 6% in May: ABS

The Australian unemployment rate for May dropped 0.1 per cent to 6% from April's figures, the Australian Bureau of Statistics (ABS) said today. The number of unemployed persons in Australia stood at 612,500 in May compared to the 622,700 in April. The ...

GPT to buy Hamilton Island Limited for $127.4 million

General Property Trust (GPT) and Voyages Hotels and Resorts have announced today that they have increased their offer for Hamilton Island Limited (HAM) to $2.83 cash per share and today entered into a preliminary agreement with HAM to acquire all shares ...

Refinancing of existing housing loans hits record high: ABS

The latest Australian Bureau of Statistics (ABS) figures released today on housing finance showed a record 28.4 per cent of all Australian housing finance approvals in April were for the purpose of refinancing an existing loan. The average loan value ...

House prices rise by 3.4% in March quarter: ABS

House prices in Australian capital cities rose by an average of 3.4 per cent in the March quarter, according to figures today released by the Australian Bureau of Statistics (ABS). Brisbane has experienced the steepest rise in prices over the last 12 ...

RBA hints at interest rate cut due to international downturn

If the international economic situation does not improve soon the Reserve Bank of Australia (RBA) could be forced to cut interest rates, RBA governor Ian Macfarlane warned today in an address to the House of Representatives standing committee on economics ...

Interest rates and strength of Australian dollar to rise: NAB

The Reserve Bank of Australia's (RBA) cash rate is expected to remain unchanged at 4.75 per cent till the March quarter of 2004 and may rise to 5% in June 2004 and onwards to 5.25% in September 2004, according to National Australia Bank (NAB) predictions. ...

ASIC absolves Platinum over misleading Herald advertisement

The Australian Securities and Investment Commission (ASIC) today said it was satisfied that Platinum Asset Management was not responsible for an advertisement that appeared in The Sydney Morning Herald on May 28 that included out-of-date performance ...

Afternoon market wrap: All Ordinaries edge higher

The All Ordinaries edged slightly higher this afternoon as the banking sector returned positive figures in trading across the board. Of the major stocks, Qantas shares dipped $0.03 to $3.27 in an otherwise uneventful day in the stock market. The latest ...