Monday, November 28, 2011

NZ singer wins top Australian award

New Zealand singer Kimbra was named best female artist at the Australian Recording Industry Association Awards in Sydney on Sunday for her debut album Cameo Lover.

The former Hamilton resident also popped up in the single of the year Somebody That I Used To Know. She co-sings on the song by Belgian-Australian singer-songwriter Gotye.

The ABC reports Sydney band Boy and Bear received five awards, including the best group and best album prizes for their debut Moonfire.

Kylie Minogue and The Wiggles were inducted into the ARIA hall of fame.

Minogue, 43, has released 11 albums and sold more than 68 million records. She has 16 ARIA awards.

Monday, October 3, 2011

Red Dog makes it into the Top 10

The Australian film 'Red Dog' is now number 7 in the top ten grossing Australian films of all time and it was released a mere 8 weeks ago!

Mark spoke to the director Nelson Woss and of course the biggest star of all Koko, otherwise known as 'Red Dog', in the film.

They discussed just why the movie has resonated so much with Australian audiences and their plans to take it to Europe, America and beyond. The soundtrack to 'Red Dog' is out this week.

Thursday, July 21, 2011

RSS Text Size Print Share This Home / sports / Former Ole Miss Guard Chris Warren Signs With Australian Team

Throughout his exceptional high school and college career, Chris Warren dreamed of taking his basketball talents to the professional level.

On Wednesday, the former Ole Miss point guard was granted such an opportunity when he signed with the Adelaide 36ers of Australia’s National Basketball League.

Warren joins a long list of Rebels who have extended their careers into the professional ranks, including 11 former players who were active in 2010-11.

One of the top seniors in all of college basketball in 2011, Warren was the first import player signed by the NBL’s 36ers for the upcoming season. The nine-team NBL is the top pro basketball league in Australia. The league’s leading scorer last year was former Mississippi State and Arkansas guard Gary Ervin.

“I am really excited to be playing in Australia,” Warren was quoted in the team’s press release. “I have heard great things about the country and the league. I have spoken to (36ers) Coach (Marty) Clarke several times and the club sounds fantastic. Meeting the guys will be great, and once I pull on my Adelaide 36ers uniform it will be about what I can do to help the team win. I hope the Adelaide supporters are ready for an exciting year.”

The Orlando, Fla., native was a two-time All-SEC performer for the Rebels, including first-team accolades as a senior. Last year, he ranked second in the SEC with 19.1 points per game and led all NCAA players with a school and SEC record 92.8 free-throw percentage. Among his many achievements, Warren became the fourth player in Southeastern Conference history with 2,000 points and 400 assists, joining LSU’s Pete Maravich, Tennessee’s Allan Houston and Georgia’s Litterial Green.

“Chris displays a great game sense, an ability to score against top flight players, and both leadership and composure of a quality point guard,” 36ers coach Marty Clarke said of his new player. “Our due diligence has been extensive with numerous conversations with his college coach, opposition coaches and scouts. He is a dynamic player who we believe will help bring on-court success and enhance our commitment to creating an elite mindset within the team. We believe his game style fits our philosophies and will bring great excitement to our fans.”

Thursday, June 30, 2011

Australian gov't provides aid package for cattle industry

Australian federal government on Thursday announced a 31 million U.S. dollars assistance package to the Australian live cattle exporters, in a move to tide them over the freeze on live cattle exports to Indonesia.

It is on top of the 3.12 million U.S. dollars fund announced on Monday, and the assistance package will also benefit businesses that rely on the live cattle trade, like trucking companies and helicopter mustering businesses.

Prime Minister Julia Gillard said she recognized the government's decision to suspend live exports to Indonesia earlier in June was putting pressure on beef producers.

"This is a package to meet the short-term hardship that the industry is facing now," Gillard told Nine News at a press conference in Darwin on Thursday.

"The best thing we can do for the industry is get the trade resumed with Indonesia with the animal welfare issues addressed and we are working hard on that."

Gillard said it was "absolutely the right decision" to suspend the trade, despite the cost of supporting the industry now.

"I want this industry to have a long-term sustainable future. The worst thing that could happen to the industry is that we didn' t resolve the animal welfare issues now and in two years time there's another problem and in four years time there's another problem," she said.

"This is the time to get the animal welfare issues right so the Australian community can be assured that this trade is meeting their expectations about the treatment of animals."

However, Gillard refused to draw on when the trade will be resumed, saying that it will happen until animal welfare issues are resolved.

Early June, Australian federal Agriculture Minister Joe Ludwig announced suspension of all live exports to Indonesia until the welfare of cattle can be guaranteed. This came following the release of a footage showing Australian cattle being tortured in Indonesian slaughterhouses.

As a result of the suspension, more than 150,000 ready-to- export cattle has been stranded across Australia, with animal exporters saying that the suspension has hurt the industry badly.

Indonesia is the biggest buyer of Australian live cattle. The trade made up 60 percent of live cattle exports last year and generated 332 million U.S. dollars.

Thursday, June 16, 2011

Australian Consumer Inflation Expectations Steady In June -Survey

Australian consumer inflation expectations remained relatively modest in the June, taking some of the heat out of a widening national debate over the outlook for interest rates.

The Melbourne Institute survey of inflationary expectations for June showed consumers expect inflation to rise 3.3% over the next year, just above the Reserve Bank of Australia's 2%-3% inflation target ...

Tuesday, May 31, 2011

Australian Miners Say Carbon Price Plan Raises Sovereign Risk

As the Australian government finalizes details of a proposed tax on carbon dioxide emissions, leaders of the nation's mining industry Wednesday launched a concerted attack on the plan, claiming it will increase sovereign risk and threaten future investment.

Peter Johnston, chairman of the Minerals Council of Australia, said the plan to price carbon is the most significant structural change to the Australian economy in a generation, but the government--as it did a year ago with a proposed super profits tax on mining--is heading down the wrong policy path again.

The proposed scheme will cost the minerals sector A$25 billion in the period to 2020, making it "the most costly carbon price scheme in the world," and represents a huge drag on the sector and its ability to invest in carbon abatement technologies, Johnston told the council's annual conference, while expressing frustration at the poor level of consultation with the industry.

Australia's minority Labor government is planning a carbon tax from July 2012 with the aim of cutting emissions and pollution and boosting investment in renewable energy and low carbon-emitting industries, subject to the federal parliament passing the legislation.

Details will be unveiled ahead of formal legislation in the calendar second half.

The government plans to tax carbon emissions from the top 1,000 emitters and use the funds raised to compensate households and some industries.

On Tuesday, the government's top climate change adviser, Ross Garnaut, recommended the government should set a fixed price on carbon in a range of A$ 20-A$30 a metric ton, rising by 4% in real terms a year. A fixed price of A$26 a ton on carbon would generate some A$11.5 billion in the 2012-2013 fiscal year, Garnaut said.

Mick Davis, chief executive of Xstrata PLC (XTA.LN), one of the world's top- five diversified miners, said a tax on carbon will deter investment.

Noting that sovereign risk is important, Davis said the major diversified miners can prioritize new investments in the most favorable jurisdictions.

These typically offer a stable, predictable and ethical investment climate for the long-term commitment required by the industry, he said.

Projects in more risky countries are inevitably delayed while investment in more stable regions proceeds, he said.

"A sudden imposition of carbon prices, or in this country taxes, has the potential to deliver a shock to capital-intensive industries, especially those that are trade exposed," he said.

"Amongst the range of risks facing us, public policy and its potential unintended or intended consequences are perhaps the most challenging. The carbon debate in Australia is one immediate and important example."

Industry has a legitimate and important role to play in helping to shape a carbon policy to achieve the important objective of reducing emissions without leaving a legacy "that impairs Australia's vibrant, vital and globally competitive mining industry," he said.

Seamus French, chief executive of Anglo American PLC's (AAL.LN) metallurgical coal and minerals unit, said any carbon action taken by Australia must fully protect export industries or it will cost investment and jobs.

He wants a phased approach to the introduction in Australia of any price on carbon and emissions trading scheme as this gives exporters time to prepare and offers a smooth transition without the dislocation of Australia's planned approach.

"This is a multi-generational reform and we need to get the right solution, not the expedient solution," he told the industry conference.

Tuesday, May 3, 2011

Adelaide Oval to be turned into multi-purpose stadium

Australia's iconic Adelaide Oval is to undergo a A$535 million redevelopment into a multi-purpose stadium that its custodians hope will be finished in time for England's next Ashes tour.

Members of the South Australia Cricket Association (SACA)have endorsed the plan, paving the way for construction which could see the picturesque ground boosted from its current seating capacity of around 32,000 to 50,000.

SACA president Ian McLachlan welcomed Monday's vote, in which more than 80 percent of SACA's members approved the plan, surpassing a minimum 75 percent requirement.

"Adelaide will have the most modern sporting venue in the country with world-class facilities in the best location in any capital city," McLachlan said in a statement on SACA's website (cricketsa.com.au).

"It will enable Adelaide to compete more effectively with other interstate and international venues to attract major events, whether sporting or cultural such as concerts."

The redevelopment will include the construction of a new southern stand and deliver an additional economic benefit of more than A$100 million to state government coffers ever year, SACA said in a note to its members on its website.

The plans retain the heritage scoreboard, grassed northern mound, views of the St. Peters Cathedral and the Moreton Bay fig trees that have become synonymous with the ground.

Overlooking the city from the north bank of the city's Torrens River, the Adelaide Oval hosted its first test cricket match in 1884 and remains a regular fixture on Ashes tours.

The development would allow the Adelaide Crows and Port Adelaide teams to bring top flight Australian Rules football to the Oval.

Tuesday, April 19, 2011

Australia's Rudd gets double dose of good news

Former leader Kevin Rudd basked Tuesday in the second poll in as many days showing more people preferred him to head the ruling Labor party than Prime Minister Julia Gillard.

Rudd, who was dumped by Gillard in a brutal and sudden Labor Party coup last June, has insisted he is not gunning for another shot at the leadership, but the poll results suggest he is the politician most people want in the job.

In a three-way Newspoll of 1,511 voters for The Australian newspaper Tuesday asking who was best to lead Labor, Rudd came top with 36 percent followed by Gillard on 29 percent.

Just one in 10 voters backed Treasurer Wayne Swan while one in four refused to nominate a preference.

It followed a Nielsen/Herald survey Monday that showed Rudd, now foreign minister, led former deputy Gillard 55 percent to 38 percent in a head-to-head match-up for preferred prime minister.

The polls are the latest to serve as a warning to Gillard that the electorate is uncertain about its decision to press ahead with a tax on carbon emissions, a policy the opposition has said it will reverse if elected.

Despite Gillard floundering, influential Australian Workers Union national secretary Paul Howes said he continued to back her despite threatening last week to withdraw support if she could not guarantee jobs under the carbon tax.

"Julia Gillard is the best leader the Labor Party's had in a very, very long period of time," Howes, a central figure in the Labor right faction that anointed Gillard last year, told reporters.

"I'm confident she will lead Labor to an election victory at the next election. But that doesn't mean I have to support the government on everything they do."

Gillard leaves Wednesday for a trip to Japan, South Korea and China before heading to London for the wedding of Prince William and Kate Middleton.

Tuesday, April 5, 2011

Chinese become top Australian visitors

China became Australia's top inbound tourism market for the first time in February, data showed Tuesday, with Chinese New Year celebrations and international students driving a surge in arrivals.

Some 77,000 Chinese touched down in Australia in February, the statistics bureau said, beating New Zealand, Britain and the United States for the first time with a 30 percent jump compared with a year earlier.

The Tourism and Transport Forum (TTF) said there had been almost 30,000 extra Chinese visitors this January and February due to growing international student numbers and Chinese New Year festivities.

TTF chief John Lee said China had "incredible potential" for Australia, with a rising and increasingly wealthy middle class.

"To meet the needs of growing numbers of Chinese visitors, we must ensure that tourism operators are prepared, with cultural awareness, language skills, cuisine and activities tailored to their needs," said Lee.

Singapore and Malaysia also rallied strongly -- both up more than 10 percent -- while Japan, traditionally one of Australia's best markets, slipped to fifth place with a 12.5 percent drop to 33,500 visitors.

Total arrivals fell 0.4 percent to 498,400 from the previous month, but were 3.6 percent higher than a year earlier.

The number of Australians jetting overseas boomed 8.8 percent from a year earlier to 612,300, growing 0.4 percent from January, as the local currency rocketed to record highs above parity with the greenback.

Thursday, March 31, 2011

Experts confirm Black Caviar as world's best

BLACK Caviar has been rated the world's best racehorse in World Thoroughbred Rankings released in Paris today.

The unbeaten sprint queen who has captured the imagination of sports fans in Australia becomes our first racehorse to top the rankings since they were introduced in 2002.

Racing Victoria handicapper Greg Carpenter hailed the news as a "brilliant result."

"This is great news on two fronts. It is great for Australian racing and a break through for sprinters on the world stage."

Especially in Europe, sprinters are seen as ‘’second class citizens’’ to horses who race over the classic distances of 2000m and 2400m.

Black Caviar earned her 130 rating thanks to her dominant win with 58 kilos in the Newmarket Handicap.

The ratings reflect a peak performance by a racehorse.

"Her Newmarket performance giving lots of weight to high class performers nd winning by a big margin earned her the rating. Unless she goes to Hong Kong and beats JJ The Jet Plane and Rocket Man, and beats tem by a fair margin I doubt her rating will get any higher," he said.

The ratings are based on the views of handicappers in the world’s major racing precincts.

Her rating of 130 is the highest by an Australian galloper , previously So You Think on 126 last year, since rankings were introduced.

BLACK CAVIAR also :

* Becomes the highest rated sprinter (previously OASIS DREAM 125 in 2003)

* Becomes the first sprinter to head the listing

* Becomes the equally highest rated mare (previously Goldikova 130 in 2009)

Former Bart Cummings trained So You Think, now prepared in Ireland by Aidan O’Brien, remains on 126 and is rated fifth best horse in the world.

The World Top 50 reflects the performances of horses for the previous six months and therefore this release covers the period 1 October 2010 to 27th March 2011.

Wednesday, March 30, 2011

Top best deals sites in Australia

Thousands of Australians are already taking advantage of discount coupon websites to save an average of more than 60 per cent on everything from movie tickets to restaurant dinners. If you aren't one of them, here are the top best deals sites to check out:

Tuesday, March 29, 2011

Top 10 Holders Of Australian NSW Short-Term Debt

Barry O'Farrell, newly elected Premier of New South Wales, or NSW, and leader of the conservative Liberal Party, Monday claimed the outgoing Labor government had hidden a 4.5 billion Australian dollars ($4.6 billion) hole in the budget over the forward estimates.

NSW, which has a A$10 billion funding program for the 2010/2011 financial year, has about A$40 billion to A$50 billion in its benchmark bond lines, A$4.54 billion in capital indexed bonds and A$4 billion in global exchangeable bonds.

NSW top ten holders of short-dated bonds are as follows:

Franklin Resources Inc.

Daiwa Asset Management

Mitsubishi UFJ Asset Management

Nomura Asset Management

Nissay Asset Management

UBS Global Asset Management

Loomis Sayles & Co.

Western Asset Management Pty.

Chuo Mitsui Asset Management

JPMorgan Chase & Co.

Tuesday, March 22, 2011

Top 10 places to visit in Australia

So, you want to go on a trip to some place that offers you not just the run-of-the-mill water activities, sightseeing opportunities, wonderful cities, but also a tryst with some exotic animals, snow-capped mountains, rainforests, and maybe even a desert? In this case, Australia would be the perfect destination for you. This country in the Southern hemisphere has something for everyone. Nature lover, sportsperson, and outdoor person, no matter who you are or what interests you the most, you'll be at home here.

1. Great Barrier Reef is one of the must-do activities in Australia. The variety of bio-diversity that this reef supports is seen to be believed. The Indo-Pacific Humpback Dolphin, dwarf mink whale, flat back turtle, olive ridley turtle and salt water crocodiles are some of the species found here. There is a wide variety of birds in this reef. It's one of the heritage sites in this continent country. Located off the Queensland coast, the Great Barrier Reef is in the Coral Sea and is the largest coral reef in the world. 'Live aboard' is a floating guest facility that is offered by many places along the coast. A scuba diver would find this reef really fascinating. You could also try snorkeling and diving.

2. Sydney Harbor is a natural harbor and it provides the backdrop for the breathtaking Sydney Opera House and the Sydney Harbor Bridge. At the Opera House, you've performances by local music groups as well as foreign productions. The architecture is really modern with its typical 'shells' forming the roof. 'The Coat hanger' or the Harbor Bridge is another image that represents Australia to most of the world. The pyrotechnics on New Year's Eve is splendid. If you are willing to take the risk, you could climb the bridge. Of course, there are enough safety precautions in place!

3. The 'Natural State' Tasmania has an endearing air to it, all thanks to its as yet unspoiled natural beauty. The 'Sydney to Hobart Yacht Race', the 'Road rally in Tasmania' and the music events make it a popular destination. 'Falls Festival' has drawn crowds for many years now. Around the time of Christmas, 'Carols in the candlelight' is another well-known event. The food festival has food and wine that attracts people in thousands. Wines such as 'Cascade' and 'Boags' are popular both in mainland Australia and also across the world. The cheese and dairy products are also a hit with the tourists. Cradle Mountain is another place in this state whose scenic beauty is seen to be felt. This mountain in the Cradle Mountain-Lake St Clair National Park is made of dolerite columns. The vegetation in this area is mostly alpine. At the Cradle Mountain, you could even be start off on the 'Overland track' that would take you across the mountain terrain over six days. You could take walks around the bushes and with the Lake Dove in the vicinity, the place must be visited. On a nocturnal visit, you could even run into animals such as pademelons, wallabies and possums.

4. Kimberley in Western Australia is sure to have you perplexed. The cruise around this region is splendid as it offers views of waterfalls, red cliffs, rivers and some rainforest as well. King George Falls and Mitchell Falls have some of the most breathtaking views. This region also has some art centers. While the works of many foreign artists are on display, the local artists are also encouraged and these art shows are internationally recognized. Kimberley is also famous for its diamonds. The Bungle Bungles or Purnululu National Park is another attraction. However, this is closed for some months every year. You can start off on your Kimberley cruise either at Broome, Darwin or Derby. If you are planning to drive down to this place during the wet months, you need to check if the roads are closed.

5. In the Snowy Mountains there is the Mount Kosciuszko which could be explored either by foot or by skiing if you are going in winter. There are guided tours for different age groups and depending on how fit you are, you could opt for any of these hikes. This highest mountain in Australia has Alpine flowers which could be blooming if you go at the right time of the year. Ningaloo Reef, another reef in the West Coast off Australia is a white sandy lagoon. You can actually walk to this coral reef. Swim along with the many species of fish and other water creatures. You could also see the reef in a half submerged cruise. Also, make time to visit the Ningaloo Marine Park. Glen Helen with its Ormiston Gorge and Pound National Park in Australia's Outback Northern Territory is along the legendary Finke River. The walks in the park could anywhere from a thirty minute walk right up to a three day walk. You'll find that the accommodation is more than decent and the presence of other attractions makes this place that is close to Alice Springs very tourist friendly.

6. No holiday can be truly complete without a fair amount of shopping thrown in. In Melbourne, go to the Chapel Street or Greenville Street for some chic clothes and leather goods. (Try Melbourne City Shops for a list of shops around Melbourne) The fancy bistros and the designer boutiques make for a compelling reason to check out this city. Chapel Street alone has more than a thousand shops along a two kilometer stretch. Between July and August, the city also plays host to Melbourne Film Festival and screens some of the finest movies, both local and foreign. There are shops scattered all over the city from where you could get souvenirs. St James Old Cathedral takes you back to the Victorian times with its quaint architecture.

7. The lovely grape-growing valley of Barossa is proud of itself. It is located less than 50 km northeast of Adelaide and offers everything you'd expect from a famous wine region in Australia. In 1850, English immigrants and European farmers came to the valley and began to turn it into one of the worlds most renowned, for its wine, good food, and European architecture. The valley offers unique food, many festivals, events all year long, historical architecture, art galleries, and antique shops.

8. If there is a paradise, it doubtlessly looks like Whitsunday's islands in Queensland. Most trips to the island start from the town of Airlie Beach, known mainly for cheap alcohol and its pubs and discos. You can go on an organized cruise from Early Beach to Whitsunday's and choose different packages. Some sleep on board, while others stay at vacation villages near the island, where you can also find 5 star hotels. During the cruise, you can take part in various activities, such as snorkeling, diving, swimming or lazing around on deck with a cold drink and staring at the amazing view. The island's most famous beach is Whitehaven Beach, 7 km of white beach, one of the most photographed beaches in the world.

9. The height of a visit in the middle of the Australian desert is doubtlessly a visit of Uluru (or Ayers Rock). It is 348 meters high with a 9 km circumference. It is the world's largest monolith, made of sand stone whose shades of color change in the course of the day from light brown to deep red. It is especially beautiful at sunset and sunrise. Uluru is also called "The Heart of Australia" and is one of its most famous symbols. The giant rock is of supreme importance to the Aborigines, who have marked its holiness by many rock drawings, for 10,000 years.

10. The Great Ocean Road, one hour drive east of Melbourne, runs along the southern coast of Australia and is one of the most beautiful roads on earth. Its length is 250 km, and it starts at the Trecky surf resort, 90 km from Melbourne. The road was built in 1930 in memory of soldiers who fell in WWI; it passes by magnificent cliffs and lonely beaches. Main attractions include the resort towns of Loren, Apollo Bay, and picturesque Port Fairy. Otway National Park offers hiking paths through rain forests, rivers, and amazing waterfalls. Campbell National Park, on the western side of the road, is located in an area famous for its rocks jutting out of the ocean, the most famous ones being called "Twelve Apostles."

A place can truly be experienced only by visiting it. The culture, people, and cuisine are best "lived" and not just read about. Australia is a lot more than what this article has to say. Check out Australia and be mesmerized by its mélange of the old and the modern.

Cycling project faces recruiting poser

Australian cycling's continued run of unprecedented success only underscores the recruiting challenge that will face the fledgling GreenEDGE project.

Matthew Goss' historic win on the weekend in Milan-Sanremo and Cadel Evans' powerful performance in Tirreno Adriatico a few days earlier add further appeal to the tantalising prospect of an Australian-based team racing in the Tour de France.

GreenEDGE aims to become the first Australian-based enterprise to gain a top-level professional men's road licence, which would give their team entry to the Tour.
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But riders such as Evans and Goss might be out of reach for the new team, even if it gains ProTeam status, simply because they are too valuable to their current employers.

Evans is the star rider at BMC, is not out of contract at the end of this year and has already indicated he would not contemplate joining GreenEDGE.

Goss is coming out of contract, but he is now a top-tier rider and HTC-Highroad will offer him a whopping new deal to encourage him to stay.

"That's exactly my point - it's nice, the emotional suggestions and saying that riders would love to ride for an Australian team and I'm sure they would," said GreenEDGE general manager Shayne Bannan.

"But they have to base their decision on what's best for their future.

"At the moment we're a project, we're not an actual team, so we have a lot of work to do to put ourselves in the marketplace.

"It's a challenge, but a pretty exciting one."

GreenEDGE must satisfy strict criteria set by world governing body the UCI before they can gain a ProTeam licence.

Under UCI rules, they also cannot start negotiations with riders before August 1.

GreenEDGE achieved a small milestone on Tuesday when they announced Scott Sports would be their bike supplier.

They aim to have most of their technical supporters in place by the middle of next month.

Bannan said they would also decide by late June whether to confirm a naming rights sponsor.

Long-time Australian cycling supporter Gerry Ryan is underwriting GreenEDGE, meaning they do not have to secure a big sponsorship deal immediately.

Also on Tuesday, the latest international rankings reflected Australian riders' strong early-season form.

Australia is the No.1 ranked country, while Goss leads the rankings, Evans is at No.3 and Cameron Meyer is fifth.

"The results really since the start of the year have been pretty exceptional, by a number of Australians," Bannan said.

Bannan was Cycling Australia's national performance director before switching to GreenEDGE over summer.

Tuesday, March 15, 2011

China becomes Australia’s largest export services market

China’s demand for Australia’s services has pushed the USA from the top spot as Australia’s largest services export market. Exports to China have grown 13.4 percent year-on-year to reach $5.8 billion during the last financial year, according to a report released by the Department of Foreign Affairs and Trade.

Education and tourism were the highest earners in China, with education related travel services topping the chart at $4.4 billion in 2009-10. Exports of other personal travel services were valued at $610 million.

About 165,000 Chinese students are enrolled in courses in Australia. This figure continues to increase although growth is slowing as education costs rise. The cost of studying in Australia for a Chinese student has doubled in the past two years to $126,940 according to estimates by Navitas, Australia’s largest international education reseller.

The USA came in second as a services export market, buying just under $5.3 billion of Australian services last financial year. The US has held the position of largest services export market since 1983.

Overall, Australia’s service exports fell just 0.2 percent to $5.8 billion in spite of the global downturn. Services account for 20.7 percent of Australia’s total trade in goods and services.

Tuesday, March 8, 2011

Is Singapore stealing Australia's best banking techies?

Banks in Australia continue to need senior IT professionals, but the lure of better compensation, lower tax and plentiful jobs means Singapore is becoming an attractive option for Aussie techies.

“Banks in Australia realise that they don’t operate in isolation from what’s happening in the broader APAC region. They know they face increased competition for the top finance technology talent from locations such as Singapore,” says Peter Noblet, regional director APAC, Hays.

Many major firms – including Standard Chartered, Credit Suisse and RBS – are expanding in the city state, whose status as a global IT hub continues to rise.

“There’s a trend of Australian candidates relocating to Singapore because a number of large investment banks have centralised operations there,” says Joel Hides, director, financial services, technology Greythorn. This is reducing the Australian talent pool, which is already small.

The IT employment market is becoming more international and candidates are more willing to relocate to where banks are expanding. This means Australia increasingly risks missing out on talent to Singapore, which offers not only a wider range of career choices, but potentially better pay. Hides says while some candidates want to work in Australia for lifestyle reasons, “it’s hard to compete with the dollars on offer in Singapore”.

Australia needs techies too

Australia cannot afford to wave the white flag when in comes to attracting and retaining IT employees.

Although during the GFC many tech roles we relocated to Asia, these were mainly positions such as developers and testers, which require the kind of hard technical skills often found offshore at lower cost. By contrast, the roles which banks in Australia are recruiting for now are generally more skilled and demand an understanding of banking.

“There’s an increased demand locally for the client-facing skill sets such as business analysis, project management and applications support,” says Hides. Solutions architects and algorithmic trading systems developers are also sought after.

The candidates needed to fill these positions are precisely the sort of highly skilled IT professionals that banks in Australia don’t want to lose to other countries.

Hiring down under this year probably won’t be as strong as 2010, but it will be steady – driven by core systems upgrades, transformation programmes and financial-sector integration. HSBC’s expansion, and ANZ’s acquisition of ING are creating jobs, according to a headhunter, who asked not to be named.

Sneak peek at Australian outboard emission laws

THE Australian Marine Engine Council (AMEC) has today released a statement offering a sneak peek at what outboard emissions standards may look like in 2012.

The statement said proposed Australian regulations will adopt the 2010 USA standard. There are moves toward world harmonisation and Canada is the first country to set their own laws based on engines meeting USA EPA specifications.

No doubt the Canadian laws will be watched very closely by Australian law makers. Some of the highlights of Canada’s regulations include:

*Standards: same as US EPA, applied from 2012 in Canada. In practice that means no new carby or efi two strokes can be sold.

*Evaporative Standards: same as US EPA. In Australia fuel evaporative standards are likely to be applied from 2012 and matching the US implementation schedule. That means the parts will be readily available for Australian Boat builders to start to install low evaporative hoses and carbon canister filters on fuel tank breather lines.

*Engine Labels: While the USA standard is accepted, a unique “Environment Canada” label will be required. An additional unique label for Australia seems unnecessary but may be a requirement and will make private imports more difficult.

*Averaging Banking and Trading : Basically whatever passes US EPA ABT provisions will pass in Canada. Thus allowing for some flexibility across the model range without allowing any high emission engines (e.g. carby two strokes). If Australia follows this lead that could mean some 2 star outboards will scrape through.

AMEC said world harmonization is good news for Australians. It means manufacturers can make long, economical production runs of just one variant – and not have to make special editions for each country and market. That keeps prices down and means more choice for Australians: we get access to all the models.

The Australian Outboard industry could not agree on very much when it came to emission standards, but they did agree that the Australian Standard should reflect the USA standards. That makes sense; given the USA is by far the largest outboard market in the world.

Australian car emissions standards are based on Euro standards – but that wasn’t the best choice for the boating industry.

The US standards started eleven years ago, and since then Europe, Japan, Canada and in 2010 even China have put controls on small engines – especially two stroke carburettors which push out ten to twenty times the pollutants of clean engines like four strokes and DI two strokes.

“Canada has effectively had emissions regulations since 2001” said David Heyes president of the Australian Marine Engine Council (AMEC).

“The Canadian Marine Manufacturers Association signed a Memorandum of Understanding (MOU) with their government. All the major engine manufacturers, importers and dealers agree to voluntarily supply the Canadian market with engines designed to conform to the U.S. EPA."

In Australia our Government gave the outboard industry a similar opportunity in 2007. Industry had an option to suggest an MOU and voluntarily reduce the sale of high emission outboards. That could have had flexibility and would have been a low cost option.

The new standards are not just focused on outboards. Boat manufacturers will have to install low evaporative fuel tanks from about 2012. Many other off road products from lawn mowers to generators will also be required to meet the new standards. Diesel standards are being studied now and should follow about two years later.

Monday, February 21, 2011

West Australian Newspapers offers to buy Seven Media Group

ONE of media operator Kerry Stokes's media interests, West Australian Newspapers (WAN), has offered to buy another of his interests, Seven Media Group, for an enterprise value of $4.085 billion. 
 
WAN said it would sell over $1 billion in new shares to help fund the transaction.

The new company would be called Seven West Media and would remain listed on the Australian Securities Exchange as the biggest Australian domiciled listed media company.

Seven Media Group is owned by the Stokes-controlled Seven Group and funds affiliated with private equity firm Kohlberg Kravis Roberts & Co and members of Seven's management.

Seven Group also is WAN's biggest shareholder, holding 24.3 per cent of the publisher.

Mr Stokes said under the proposed deal he would remain chairman of Seven Media and what would emerge would be a diversified media company involving newspapers, magazines, internet, television and multi-channelling.
Mr Stokes said the new company would not see a merger of news rooms or a reduction in media competition, and that there were no plans for retrenchments of current employees.
"I think you will see two news rooms competing just as you do now.
"It's important they retain their competitiveness," Mr Stokes said.
Seven West would include all of WAN, including The West Australian, the state's biggest newspaper, and radio licences, all of Seven Network and all of Pacific Magazines.

Additionally, Seven West would own 49.9 per cent of Community Newspaper Group, 50 per cent of Yahoo!7, and 33 per cent of Sky News.

The independent directors of WAN said they would unanimously recommend shareholders approve the transaction.

Doug Flynn, one of WAN's independent directors and a former News Corp executive, said the takeover was an opportunity to transform WAN into a diverse media business.

"While WAN occupies an attractive niche as the leading media business in the West Australian market, it must look to the future," Mr Flynn said.

"Combining these two businesses will create a substantial and diverse combination of traditional and new media platforms to enhance WAN's ability to compete effectively in the ever changing media landscape."

WAN would buy Seven Media from Seven Group with $1.08 billion worth of its own shares, $250 million of convertible preference shares, $650 million repayment of a Seven Media loan owed to Seven Group and $2.104 billion of assumed external net debt.

WAN will raise $461 million through a placement of shares to KKR, $653 million from an entitlement offer of new shares and a further $40 million from a general public offer of shares.

The proceeds from the equity raising will be used to repay $450 million in debt, repay the Seven Group loan and pay transaction costs of $45 million, with the balance to be used for general corporate purposes.

The takeover is subject to Australian Competition and Consumer Commission approval.

Shareholders will vote on the deal on April 11.

As part of the transaction, Seven Group will sell its interest in WAN and not take up its entitlement under WAN's entitlement offer.

Seven Group then will receive $1.081 billion in WAN shares, equivalent to 29.6 per cent of the company.

Seven Group also would receive $250 million of the convertible shares, resulting in a total investment in WAN of about $1.33 billion.

WAN's existing board membership would remain and Seven Media's chief executive, David Leckie, would become Seven West's CEO.

Seven Group's chairman, Mr Stokes, said the transaction would transform WAN into the biggest listed Australian-domiciled media company.

"This transaction is an opportunity for Australian shareholders to gain exposure to some of the best media assets in Australia with the combined business leveraging the highly successful management teams," he said.

He added that Seven Group's commitment to the company was apparent because it will increase its interest in WAN at a higher price per share than WAN shareholders will pay under the entitlement offer.

Thursday, February 17, 2011

Bikie murder was ridiculous act: judge

A former Rebels bikie murdered a rival Bandido in a "ridiculous" act of retaliation over a fight that had nothing to do with him, a judge says.

Ross Brand, 51, was killed when John Russell Bedson, 27, fired at least six shots into the Geelong clubhouse of the Bandidos motorcycle club on October 22, 2008.

A second man, Paul Szerwinski, was injured after being shot in the wrist and upper thigh.
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Neither Bedson nor his victims had any involvement in a fight that sparked the shooting, the Victorian Supreme Court heard on Thursday.

The fight at the Geelong Cup races earlier that day was between a man nominated to become a Bandido and a man from a second motorcycle club Bedson was involved with, Death Before Dishonour (DBD).

Bedson's brother Derek, who did not witness the fight, became incensed when he heard that the DBD member had been arrested and the Bandido wasn't, the court heard.

John Bedson was not at the races but the brothers later agreed to shoot up the Bandido clubhouse.

On Thursday, Justice Elizabeth Curtain said John Bedson had no business being involved in the fight.

"He acted on this day because he perceived retaliation was necessary," she said.

"Given the consequences, that was a totally ridiculous proposition.

"The reality is in truth it was never his fight, were it not for his association with the Rebels and Death Before Dishonour."

Justice Curtain said the tragedy of the case was that his victim also had nothing to do with the fight at the races.

"He went and shot at people who themselves had nothing to do with it at all," she said.

"If it weren't so tragic it would be utterly ridiculous."

Justice Curtain said if not for the angry response of Derek Bedson, who pleaded guilty to manslaughter, the shooting would not have happened.

Derek Bedson's lawyer, Peter Chadwick, SC, said his client was intoxicated after drinking all day at the races and became angry after hearing about the fight.

John Bedson's lawyer Ian Hayden said his client had ended his association with both motorcycle gangs and had made inquiries about having a DBD tattoo on his cheek removed, but was told this could not happen in jail.

He said his client was remorseful for the killing and had acted out of "misguided loyalty".

The pre-sentence hearing will continue at a later date.

Sunday, February 13, 2011

Australia's top lender sees $3.1B half-year profit

The Commonwealth Bank of Australia Ltd., the nation's largest lender, reported Wednesday a 5 percent rise in half–year net profit to 3.05 billion Australian dollars ($3.1 billion), but said credit demand remains subdued and funding costs are increasing.

Cash profit for the six months to Dec. 31, the bank's preferred measure, was up 13 percent on the previous corresponding period to AU$3.3 billion.

Analysts had forecast that both cash and net profits would be around AU$3.2 billion.

The results are driven by falls in bad debt provisions since the global economic crisis, down from AU$1.4 billion in the second half of 2009 to AU$722 million in the latest six months.

Australia has a tight regulatory regime in the financial sector and its banks proved resilient to the global downturn.

Chief executive Ralph Norris said all divisions of the business performed well in a period characterized by subdued credit demand and intense competition for deposits.

"Underlying credit growth remains subdued with both consumer and corporate confidence fragile," Norris said in a statement.

"Competition is intense, with depositors benefiting from historically high margins, while wholesale funding costs also remain at elevated levels," he added.

The bank's total average interest earning assets, or the money it lends, grew by AU$26 billion to AU$574 billion.

Chief financial officer David Craig said funding costs would continue to rise for another year.

"The funding costs will continue to rise, but probably not at the same pace as they have been rising," he told reporters.

Demand for home loans remains robust, Craig said.

But business lending remains subdued, and the impacts of record flooding and cyclones along the Australian east coast since November will not help, he said.

The bank's shares rose almost 3 percent in early trading on the news Wednesday to AU$55.36.

The result drove the Australian bourse higher in early trading. The benchmark S&P/ASX200 index rose almost a percentage point to 4,925.4, while the broader All Ordinaries index had a similar rise to 5,015.3 points.

Monday, February 7, 2011

Wollongong City ready to take on best at Australian Surf Rowers League championships

They might not win many races, but Wollongong City's surf boat crews are looking forward to hosting this weekend's Australian Surf Rowers League championships.

City will be represented by six crews in open men, open women, reserve men and under 19 men.

Boat sweep Ken Lawrence said City's hard-working members had spent countless hours preparing for the annual carnival.

"Our crews have had some good results this season and we'll be going out there to race to the best of our ability this weekend, but the main aim is to run a good carnival and make sure everything goes smoothly," Lawrence said.

"Having said that, one of our reserve crews is going well and we expect some big things from them.

"All the top crews from Australia and New Zealand will be there and there are plenty of good local crews involved. Austinmer and Bulli will provide stiff opposition in the open men, Corrimal, City and Austinmer are strong in the reserves and Helensburgh-Stanwell Park have a very good under 23 women's crew."

Close to 2000 visitors will flock to Wollongong for the carnival and motels and camping grounds in the region are expected to be filled by Thursday night.

"There's certainly going to be lots of boats and cars and trailers around town," Lawrence said.

"It'll be a good boost for the local economy."

Big seas forced last year's corresponding event to be moved to Bulli and organisers are crossing their fingers a similar situation doesn't arise this weekend.

"We're praying for Huey to be kind to us this year," Lawrence said.

"A nice four-foot swell would be beautiful. Hopefully it won't be like last year."

Races get underway tomorrow morning before the event wraps up with Sunday's finals.

Tuesday, February 1, 2011

Miranda Kerr rated most desirable Australian girl in AskMen's top 99

MIRANDA Kerr has been rated the most desirable Australian girl on the planet by readers of a men's lifestyle website.

The supermodel was voted number five in AskMen.com's Top 99 Most Desirable Women list, which was led by Gossip Girl star Blake Lively.

Actresses Mila Kunis and Sofia Vergara and model Selita Ebanks made up the remaining top five places in the annual poll.

Other Australian honorees included Abbie Cornish (33), Rose Byrne (51), Rachael Taylor (65) and Natalie Imbruglia (87).

But models Megan Gale, Emily Scott, Jennifer Hawkins and singer Sophie Monk failed to make the cut after featuring in last year's poll.

Other beauties also missing this year are Jessica Simpson and Heidi Klum.

More than five million votes were cast after readers were asked to rank the women who best represent their ideal girlfriend or wife.

Kerr jumped five places from number 10 since the last annual survey, during a year in which she was mostly pregnant.

The top ten are:

1. Blake Lively

2. Mila Kunis

3. Sofia Vergara

4. Selita Ebanks

5. Miranda Kerr

6. Cheryl Cole

7. Scarlett Johansson

8. Katy Perry

9. Anne Hathaway

10. Jessica Pare