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Govt drafts new credit regime

MICHAEL HOBBS  |  TUESDAY, 28 APR 2009
... licensing regime. The bill will create the Australian Credit License (ACL) which will come into effect from the beginning of next year. ACL holders must meet a set of minimum standards before they can operate. Under the bill, banks, credit unions, finance ...

REST deploys $300m mandates

RUTH LIEW  |  TUESDAY, 28 APR 2009
... international equities and credit markets to increase their growth exposure and position REST for better returns over the next three to five years. "[We're] starting to position ourselves by drip feeding some funds into these markets in order to hopefully ...

AllianceBernstein wins Treasury mandate

RUTH LIEW  |  MONDAY, 27 APR 2009
... different sizes and ownership", said the Treasury. The Treasury anticipates completing this second round of selections in the next 2 months. Each of the agreements with the three firms is effective until April 20, 2014. The firm, headquartered in New ...

Budget deficit squeezes pension promises

ALEX DUNNIN  |  FRIDAY, 24 APR 2009
... a blow-out in the government's borrowing requirement is threatening the Prime Minister's promise to boost age pensions in next month's budget. Following last year's budget there was an outcry from pensioner groups that argued linking 25 per cent of Average ...

Timbercorp calls in administrators

MICHELLE BALTAZAR  |  THURSDAY, 23 APR 2009
... Chesser and other partners of KordaMentha as voluntary administrators. The first creditor's meeting will be held within the next eight business days. Timbercorp has invested more than $2 billion in agribusiness projects on behalf of 18,500 investors ...

Keep co-contributions: HESTA

RUTH LIEW  |  THURSDAY, 23 APR 2009
... to retain the super co-contribution scheme in the upcoming Federal Budget. HESTA's concern has been sparked by fears that next month's Federal Budget will include revenue initiatives to offset money the government has already spent on GFC stimulus pacakages. ...

Danger, Will Robinson!

BENJAMIN ONG  |  THURSDAY, 23 APR 2009
... duties on alcohol, tobacco and petrol to pay for its surplus of spending over revenues estimated to reach 703 billion over the next five years. This, according to Citigroup, is the biggest peacetime deficit in more than a century and tallies to around ...

Market Wrap - Morning

AAP  |  THURSDAY, 23 APR 2009
... despite a bleak economic report from the International Monetary Fund that forecast a slow recovery only from the second half of next year. London's FTSE 100 gained 43.2 points, or 1.08 per cent, to 4030.66. FRANKFURT - Germany's DAX advanced 92.79 points ...

Trust eyes global investors

RUTH LIEW  |  WEDNESDAY, 22 APR 2009
... international institutional investors looking for REs as they ramp up foreign investment activities. "I suspect over the next 12 months we'll see a lot more foreign investment into Australia. And we're positioning ourselves to provide RE service to that ...

Market Wrap - Morning

AAP  |  WEDNESDAY, 22 APR 2009
... from a slump that began with a sell-off on Monday. The comments provided reassurance that banks won't surprise investors next month by getting poor marks in the government's "stress tests," which are designed to determine whether major banks have enough ...