Australasia

China rebukes Australia for "Cold War mentality" after Belt and Road accords cancelled

10h32 Australia said on Thursday that it cancelled two accords between Victoria state and China on the Belt and Road Initiative because they were out of line with the federal government's foreign policy, which sees. . .  Full story

Australia shares mark best day in 2 weeks as gold stocks shine

09h20 Australian shares closed higher on Thursday, joining a rebound in global equities as gold and healthcare stocks advanced, while AGL Energy hit a record low after its chief executive officer resigned.. . .  Full story

Cathay Pacific to close pilot base in Canada, proposes shutting Australia, New Zealand

06h54 Hong Kong's Cathay Pacific Airways Ltd will close its Canadian pilot base and has proposed to also shut its pilot bases in Australia and New Zealand, the airline said on Thursday.. . .  Full story

Australia promises $437 mln for low emission technology

06h53 Australia will spend A$565.8 million ($436.5 million) to co-fund research and pilot projects in green technologies, Prime Minister Scott Morrison said on Thursday, as Canberra seeks to illustrate its commitment to reducing carbon emissions.. . .  Full story

Australian regulator issues long-awaited climate risk guidance

05h12 Australia's prudential regulator unveiled long-awaited guidance for banks, insurers and pension funds on managing and disclosing climate-related risks, including physical, transition and liability exposures.. . .  Full story

AGL Energy CEO abruptly quits amid company plan to split, shares tank

03h07 The boss of AGL Energy resigned suddenly on Thursday, just two-and-a-half years into the role and less than a month after Australia's top power producer and retailer announced plans to split into two.. . .  Full story

AMP's Australia wealth business' assets under management rise by $1.2 bln

21/04 AMP Ltd said on Thursday assets under management at its Australian wealth management business increased by A$1.6 billion ($1.24 billion) in the first quarter on better market conditions and lower outflows from pension fund mandates.. . .  Full story

Copper up with equities, but virus surge limits gains

21/04 Copper prices firmed on Wednesday alongside a rebound in equities and a weaker dollar, though investor fears over rising coronavirus cases limited gains.. . .  Full story

Australia cancels Belt and Road deals; China warns of further damage to ties

21/04 Australia on Wednesday cancelled two deals struck by its state of Victoria with China on Beijing's flagship Belt and Road Initiative, prompting the Chinese embassy in Canberra to warn that already tense bilateral ties were. . .  Full story

Australia shares suffer worst day in nearly 2 months on virus resurgence

21/04 Australian shares on Wednesday recorded their worst session in nearly two months, with travel stocks declining significantly, as investors refrained from placing big bets on concerns over a global spike in COVID-19 infections.. . .  Full story

Japan Post to book $624 mln loss on Australian logistics arm

21/04 Japan Post Holdings Co Ltd said on Wednesday it would book a 67.4 billion yen ($623.8 million) one-off loss in the financial year ended March on the partial sale of Toll Holdings, its money-losing Australian. . .  Full story

Australia's Pilbara Minerals spodumene output hits record as demand soars

21/04 Australia's Pilbara Minerals on Wednesday reported record spodumene concentrate production in its third quarter and forecast higher shipments for the current quarter, as demand for the raw material used in electric-vehicle batteries soars.. . .  Full story

Australia's Pilbara Minerals says spodumene in tight supply as enquiries rise

21/04 Australia lithium miner Pilbara Minerals said on Wednesday that lithium concentrate spodumene was in "relatively short supply" as enquiries for the raw material used in electric vehicle batteries rise.. . .  Full story

Australian retailers boast strong March sales as consumer confidence soars

21/04 Australian retail sales surpassed expectations in March in a positive sign for the economy as soaring house prices and a surge in employment boosted consumer confidence and spending.. . .  Full story

Australian shares drop 1% as travel stocks weigh

21/04 Australian stocks fell a percent on Wednesday, extending losses into a second straight session, as travel stocks dropped after a new COVID-19 case in New Zealand sparked worries of a pause in the trans-Tasman. . .  Full story

NZ Q1 inflation ticks higher, RBNZ seen standing pat

21/04 New Zealand's consumer price index (CPI) outpaced expectations in the first quarter, led by transport and housing prices, though economists said the rise was not yet enough for the central bank to consider raising interest. . .  Full story

Australia shares set to fall at the open; NZ slips

21/04 Australian shares are expected to open lower on Wednesday, extending losses from the previous session, as Wall Street slipped and oil prices dipped overnight on concerns of a global spike in coronavirus cases.. . .  Full story

Japan Post to sell part of Australian logistics business, book $645 mln loss -Nikkei

20/04 Japan Post Holdings Co has decided to sell part of its Australian logistics arm Toll Holdings to an investment fund and booked a one-off loss of 70 billion yen ($645 million), the Nikkei newspaper. . .  Full story

Australia shares snap 5-day winning run on tech slide, weak earnings

20/04 Australian shares snapped a five-day rally on Tuesday as tech stocks tracked an overnight decline in U.S. markets, and earnings-driven losses in fund manager Challenger and rare earths miner Lynas weighed.. . .  Full story

Australia shares slip from 14-month high as banking and tech stocks weigh

20/04 Australian shares slipped from 14-month highs on Tuesday, tracking losses on Wall Street, with technology and financial stocks weighing the most on the local benchmark.. . .  Full story

Australia's COVID-19 win to help fuel economic growth this year

20/04 The Australian economy will grow this year at its fastest pace since 2007, driven by massive stimulus and as the country has largely been able to contain the transmission of the novel coronavirus unlike. . .  Full story

Australia shares end flat as oil prices weigh on energy stocks

19/04 Australian shares closed flat on Monday as losses among energy and technology sectors erased an early mining boost, while tourism-related stocks found some respite as a travel bubble between Australia and New Zealand kicked. . .  Full story

Australia's Orocobre buying Galaxy for $1.4 bln to create world No.5 lithium miner

19/04 Australian lithium miner Orocobre Ltd is buying smaller domestic peer Galaxy Resources for $1.4 billion to create the world's fifth most valuable producer of the key raw material for electric vehicle batteries.. . .  Full story

Australia shares boosted by banks and miners, energy stocks weigh

19/04 Australian shares edged higher in subdued trade on Monday, led by banks and miners, while some travel-related stocks advanced as a travel bubble between Australia and New Zealand began.. . .  Full story

Australia's Centuria Capital to buy Primewest for $462 mln

19/04 Australian investment manager Centuria Capital Group said on Monday it would buy Primewest Group in a stock and cash deal that values the property fund manager at A$598.8 million ($462.51 million).. . .  Full story

Australia shares set to open higher, NZ gains

19/04 Australian shares are expected to open higher on Monday and are on track to approach record levels, after positive corporate earnings and upbeat economic data sent Wall Street to fresh peaks on Friday.. . .  Full story

Australia's lithium miners bank on brighter times ahead as prices soar

16/04 Australian-listed lithium miners are preparing for better times ahead, filings showed this week, as they outlined expansion plans in the wake of soaring prices for the raw material used in electric vehicle batteries.. . .  Full story

Australia shares end higher as China, U.S. data spur recovery bets

16/04 Australian shares closed near 14-month highs on Friday as upbeat economic data from the United States and record first-quarter economic growth in the country's largest trading partner China supported hopes of a global economic recovery.. . .  Full story

Australia shares poised to wrap up fourth week of gains on muted note

16/04 Australian shares struggled for direction on Friday, a day after marking their highest close in nearly 14 months, as gains in mining and gold stocks countered losses in energy names.. . .  Full story

Woodside, Santos investors reject activist's oil, gas wind-up resolution

15/04 Investors in Australia's top two independent oil and gas producers on Thursday rejected an activist group's push to get the companies to spell out plans to wind down their operations to help curb global. . .  Full story

Australia shares hit 14-month closing high as jobs data cements recovery view

15/04 Australian shares reclaimed lost ground on Thursday to close at their highest level in nearly 14 months, as employment data cemented confidence that the economy recovery was in full swing.. . .  Full story

Australia's CBA expects home loan growth to push mortgage profit some 3% higher

15/04 Commonwealth Bank of Australia (CBA), the country's largest lender, said growth in its home loan book this year should boost the company's mortgage profit in the order of 3%, Chief Executive Officer Matt Comyn said. . .  Full story

Australia's FAR delays vote on Sangomar stake sale for third time

15/04 Australia's oil and gas explorer FAR Ltd on Thursday postponed a vote on the sale of its stake in an oil project off Senegal for the third time while investors study a takeover offer. . .  Full story

Tilt Renewables shares halted as talks continue for better takeover deal

15/04 Shares in New Zealand's Tilt Renewables Ltd were halted on Thursday as the wind farm operator held talks for a better takeover offer than the NZ$2.9 billion ($2.07 billion) deal it agreed to last. . .  Full story

Australian jobs machine hits overdrive, passes pre-pandemic peak in March

15/04 Australian job creation far outstripped forecasts in March as unemployment dropped to a one-year low and the number of people in work surpassed its pre-pandemic peak, a big positive for consumer spending and confidence.. . .  Full story

Australia shares fall amid broad-based losses, mixed Wall St finish

15/04 Australian shares fell on Thursday, as losses across the board and a mixed finish on Wall Street overnight weighed on the benchmark index.. . .  Full story

Australia shares likely to retreat on mixed cues from Wall Street, NZ flat

15/04 Australian shares are set to fall on Thursday with investors likely to take a cautious stance following mixed cues on Wall Street, with weak iron ore and gold prices expected to weigh on miners.. . .  Full story

Virgin Australia brings back 10 leased Boeings as domestic demand revives

15/04 Virgin Australia, the country's No. 2 airline, said on Thursday that 10 leased Boeing Co 737 planes would return to its fleet as part of plans that would see it reach more than 80%. . .  Full story

Indonesia raises 2021 coal output target to 625 mln tonnes -regulation

14/04 Indonesia has raised its 2021 coal output target to 625 million tonnes, up from 550 million tonnes previously, according to a Energy and Mineral Resources Ministry regulation reviewed on Wednesday.. . .  Full story

Australia shares hit 13-mth high on gold, tech boost; NZ rises on record low rates

14/04 Australian shares climbed to a 13-month peak on Wednesday, led by gains in gold stocks and technology firms, while New Zealand's benchmark bourse hit a near two-month high after the central bank left interest. . .  Full story

New Zealand c.bank stays on hold to keep economy on recovery path

14/04 New Zealand's central bank left all its current policy settings unchanged on Wednesday, saying monetary stimulus should continue to ensure its inflation and employment targets are met.. . .  Full story

New Zealand to end livestock exports due to animal welfare concerns

14/04 New Zealand said on Wednesday it will stop the export of livestock by sea following a transition period of up to two years, citing animal welfare concerns for a decision that will affect major. . .  Full story

Australia shares rise as tech stocks track Wall Street higher

14/04 Australian shares ticked higher on Wednesday as tech stocks tracked an overnight rally in their U.S. peers and miners advanced on robust commodity prices.. . .  Full story

Australian consumer sentiment jumps to 11-year high in April

14/04 A measure of Australian consumer sentiment surged to an 11-year peak in April as strength in family finances and optimism on the economy easily outweighed an unwelcome faltering in the roll out of COVID-19 vaccines.. . .  Full story

Australia shares end flat ahead of U.S. inflation data as mining, energy stocks drag

13/04 Australian shares surrendered early gains in a choppy session to end flat on Tuesday as investors awaited inflation data from the United States before making further bets, with energy and mining firms cancelling out. . .  Full story

China commodity imports surge in March

13/04 China's imports of major commodities rose strongly in March from the year ago, data from the General Administration of Customs showed on Tuesday, as the world's second-biggest economy marched ahead post-COVID-19.. . .  Full story

Tech stocks lead Australian benchmark higher amid Wall Street weakness

13/04 Australian shares were led higher by a jump in technology stocks on Tuesday, while losses in energy stocks and miners capped gains.. . .  Full story

Australia shares slip after government scraps vaccination targets

12/04 Australian shares closed lower on Monday, weighed down by travel and mining stocks, after the federal government abandoned its COVID-19 vaccination targets following a shift in stance over AstraZeneca's shot last week.. . .  Full story

Australian shares fall after abandoning of vaccination targets

12/04 Australian shares fell on Monday after marking their best week since the week ended Feb. 5, as the country dropped its COVID-19 vaccination targets over the weekend after a policy shift on AstraZeneca's shot.. . .  Full story

Australia shares likely to edge up; NZ gains

12/04 Australian shares are set to open marginally higher on Monday, tracking positive cues from Wall Street, which closed at record highs on Friday. The local share price index futures. . .  Full story

Australia shares end lower as vaccine rollout hits snag

09/04 Australian shares ended lower on Friday, as the country joined a host of others in restricting the use of AstraZeneca's COVID-19 vaccine and began overhauling its inoculation plans, though the index still delivered its. . .  Full story

Analysts up Asia's forward 12-mth earnings forecasts on recovery hopes

09/04 Analysts continue to lift Asian companies' forward-12 month earnings on optimism over economic recovery, although last month's upgrades were the smallest in nine months, hit by worries over a surge in coronavirus infections in some. . .  Full story

Australia shares snap 5-day rally as vaccine rollout suffers setback

09/04 Australian shares dipped on Friday, losing steam after a five-day winning streak, as setbacks to the nation's COVID-19 vaccine rollout plans weighed on healthcare stocks, while weak iron ore prices pressured miners.. . .  Full story

Santos seeks to sell Dorado, Bedout oil project stakes

08/04 Australian gas producer Santos has hired Goldman Sachs to sell a 20%-30% stake in its Dorado oil project and Bedout exploration portfolio offshore western Australia, according to a sales document seen by Reuters and confirmed. . .  Full story

Australia regulator proposes exposure limits of life insurers to offshore reinsurers

08/04 Australia's insurance regulator on Thursday proposed to limit the exposure of life insurers to offshore reinsurers, given its lack of oversight of foreign players.. . .  Full story

Australia's Westpac sued over consumer credit insurance sales

08/04 Australia's corporate regulator said on Thursday it had filed a civil lawsuit against Westpac Banking Corp, alleging the country's second-largest lender sold consumer credit insurance to customers who had not agreed to buy it.. . .  Full story

Australia shares extend rally on iron ore, Wall Street strength

08/04 Positive cues from Wall Street overnight helped Australian shares extend their rally to a fifth day on Thursday, with robust iron ore prices further boosting heavyweight mining stocks.. . .  Full story

Santos seeks to sell Dorado, Bedout oil project stakes - document

07/04 Australian gas producer Santos has hired Goldman Sachs to sell a 20%-30% stake in its Dorado oil project and Bedout exploration portfolio offshore western Australia, according to a sales document seen by Reuters.. . .  Full story

Asia FX gains as U.S. yields dip; India's rupee hits over 4-month low

07/04 The Indian rupee plunged to its lowest level in more than four months on Wednesday after the central bank held rates, while Asia's other emerging currencies gained as U.S. bond yields continued to retreat. . .  Full story

Australia shares close at highest in over a year, extend gains for 4th session

07/04 Australian shares on Wednesday closed at their highest in over a year, extending gains for the fourth straight session, helped by the country's energy and gold sectors.. . .  Full story

Australia's CBA ordered to pay $5 mln fine for overcharging interest

07/04 An Australian court fined top lender Commonwealth Bank of Australia A$7 million ($5.36 million) for overcharging interest in a case stemming from a gruelling financial sector inquiry, the country's securities regulator said on Wednesday.. . .  Full story

Australia shares extend gains as commodity-exposed firms shine

07/04 Australian shares on Wednesday extended gains for a fourth session, driven by commodity-exposed stocks on firm crude and metals prices and as investors placed bets on improving prospects for a global economic recovery.. . .  Full story

Perth Mint's March gold sales surge to highest since 2012

06/04 Perth Mint's gold sales climbed to their highest since at least 2012 in March as a fall in prices of the metal lifted demand for minted products, the refiner said in a blog post. . .  Full story

Australian gov't says superannuation funds should support new coal projects

06/04 Australia's superannuation funds should be free to support the coal industry's expansion plans, resources minister Keith Pitt said on Tuesday, as a battle heats up over new mines in the key Hunter Valley mining region. . .  Full story

Tech, travel stocks lift Australia shares to 1-1/2-month closing high

06/04 Australia shares ended higher on Tuesday, bolstered by travel stocks after the announcement of a travel bubble between the country and New Zealand, while tech heavyweights jumped to their highest in a month tracking. . .  Full story

Australia c.bank cautions about housing boom as rates held at record lows

06/04 Australia's central bank left interest rates at an all-time low on Tuesday in a widely expected decision but cautioned it would "carefully" monitor trends in property debt as the housing market boomed.. . .  Full story

Australian interest rate changes since 1990

06/04 The Reserve Bank of Australia held its cash rate at 0.10% on Tuesday following a monthly policy meeting. The following is a chronology of the Reserve Bank of Australia's interest. . .  Full story

Australian shares track Wall Street higher ahead of RBA meeting

06/04 Australian shares climbed on Tuesday as trading resumed after a long weekend, with market sentiment bolstered by Wall Street's strong finish overnight, while investors waited for a policy meeting of the country's central bank due. . .  Full story

Australia job ads jump to 12-year high in March - ANZ

06/04 Australian job advertisements surged to their highest in 12 years in March, a promising sign the labour market's blistering recovery can withstand the removal of some of the government's emergency support programmes.. . .  Full story

No Australia, NZ stock market report on April 2, 5

01/04 There will be no Australia and New Zealand stock market report on Friday, April 2, and Monday, April 5, as markets in both countries will be closed for Good Friday and Easter Monday holidays.. . .  Full story

Australia shares wrap up holiday-shortened week on firm note

01/04 Australian shares settled higher on Thursday, wrapping up the holiday-shortened week on a firm note as investor cheered an end to Brisbane lockdown ahead of the long Easter weekend.. . .  Full story

South32 to pay clean-up costs to close South African coal unit sale

01/04 South32 Ltd will provide up to $250 million in funds to smooth the sale of its South African energy coal business to mining group Seriti Resources, the company said on Thursday.. . .  Full story

Australia shares climb as Biden infra plan lifts sentiment

01/04 Australian shares rose on Thursday, tracking an overnight Wall Street rally that was driven by tech stocks and as U.S. President Joe Biden's multi-trillion-dollar infrastructure investment plan lifted investor sentiment globally.. . .  Full story

Australia's Macquarie Bank ordered to raise reserves after reporting breaches

01/04 Australia's prudential regulator on Thursday ordered Macquarie Group Ltd's banking unit to increase its cash reserves following material breaches of prudential standards that it said raised serious concerns about the lender's risk controls.. . .  Full story

Chinese businesses consider alternative wool sources to reduce Australia dependency - Global Times

01/04 -- Source link: https://bit.ly/2Pn9I3f -- Businesses in China are looking at alternative import sources of wool to reduce dependency on Australian shipments, after the souring of bilateral trade between the two countries and pandemic induced. . .  Full story

Australia's c.bank cash rate seen near zero until end-2022

01/04 Australia's central bank will likely keep key rates at a record low of 0.1% at its monthly policy meeting next week, a majority of economists polled by Reuters showed, with rates seen at. . .  Full story

South African start-up raises $1.4 million in crowd sale of Zimbabwe solar project

31/03 South African energy start-up Sun Exchange raised $1.4 million in a crowd sale of solar cells of a 1.9 megawatt (MW) solar and battery storage facility at Zimbabwe's Nhimbe Fresh farm, the firm said. . .  Full story

Papua New Guinea's Ok Tedi copper mine resumes operations after COVID-19 shutdown

31/03 Papua New Guinea's Ok Tedi Mining Ltd's copper mining operations will resume from Thursday, the company said on Wednesday, after they were suspended for two weeks due to a surge in COVID-19 cases at. . .  Full story

Australia shares notch best month in four as China data lifts rebound bets

31/03 Australian shares ended higher on Wednesday, capping their best month since last November, lifted by strong factory data from the country's top trade partner China and as investors adjusted their holdings for some month-end "window. . .  Full story

Australia shares jump 1% on financials, mining boost

31/03 Australian shares jumped slightly more than 1% on Wednesday, driven by heavyweight financials and mining stocks, and as traders locked in positions to rebalance at the end of the month.. . .  Full story

Australia shares set to open higher; NZ flat

30/03 Australian shares are set to open higher on Wednesday, after recording two consecutive session of losses. The local share price index futures. . .  Full story

New Zealand central bank eases dividend curbs on lenders as economy improves

30/03 The Reserve Bank of New Zealand said on Wednesday it was easing dividend restrictions placed on lenders at the height of the COVID-19 pandemic following a stronger-than-expected rebound in the economy.. . .  Full story

COLUMN-Resource-rich Australia shows vagaries of any commodity supercycle: Russell

30/03 For those seeking evidence of a new commodity supercycle, and for the sceptics of a sustained boom in natural resources, Australia's government forecaster has it covered.. . .  Full story

Australia's AGL Energy to split in push to attract new investors

30/03 Australia's top power producer and energy retailer AGL Energy on Tuesday unveiled a plan to split into a bulk power generator and a retail business, in a bid to revive its battered shares and. . .  Full story

Australia shares end lower as new COVID-19 cases put Easter plans on hold

30/03 Australian shares fell on Tuesday, with mining and energy stocks weighing the most, while investors were cautious about placing big bets as more COVID-19 cases were reported in Queensland after the state capital Brisbane. . .  Full story

La Nina has ended, Australian weather bureau says

30/03 A La Nina weather event has subsided, Australia's weather bureau said on Tuesday, ending a six-month spell of greater rainfall and cooler than average temperatures across the country's east coast.. . .  Full story

Australian shares reverse early gains as miners track copper prices lower

30/03 Australian shares gave up early gains on Tuesday to trade lower as heavyweight miners declined in tandem with copper prices, although a bounce-back in technology stocks limited losses.. . .  Full story

Australia securities regulator searches coal miner TerraCom's offices

30/03 Australia's securities regulator searched the offices of coal miner TerraCom Ltd with assistance from Queensland state police, as part of a probe into the inflation of coal quality for exports, the miner confirmed on Tuesday.. . .  Full story

Australian regulator says too early to intervene to cool house prices

30/03 Australia's banking regulator on Monday said it was too early to introduce macroprudential controls to cool house prices, which last month soared at their fastest pace in almost two decades.. . .  Full story

Australia securities regulator searches coal miner TerraCom's offices -paper

29/03 Australia's securities regulator searched the offices of coal miner TerraCom Ltd on Monday with assistance from Queensland state police, according to a report in the Australian Financial Review.. . .  Full story

Treasury Wine faces 175.6% duty rate for Australian wine exports to China

29/03 Treasury Wine Estates Ltd, the world's largest standalone winemaker, said on Monday that Beijing had imposed a final combined 175.6% anti-dumping and countervailing duty rate on its Australian wine imports into China, its biggest market.. . .  Full story

Australia shares fall after Brisbane announces lockdown

29/03 Australian shares slipped on Monday, weighed by losses in technology shares, as Brisbane announcing a fresh three-day lockdown raised fears of a slow economic recovery.. . .  Full story

Australia shares inch higher as Suez Canal blockage lifts commodities

29/03 Australian shares edged up on Monday, as higher commodity prices lifted miners and energy stocks on worries that global supplies of crude and refined products could be disrupted for weeks as workers try to. . .  Full story

Australia sees record $104 bln of iron ore exports this financial year

29/03 Australia expects to log a record A$136 billion ($103.85 billion) from iron ore exports this financial year, as global steel-making recovers after a COVID-19 led downturn, a government report showed on Monday.. . .  Full story

Treasury Wine Estates faces duty rate of 175.6% for Australian wine exports to China

28/03 Australia's Treasury Wine Estates Ltd said ‍on Monday it would face an anti-dumping and countervailing duty rate of 175.6% for its Australian country-of-origin wine in China, after an investigation by that country's Ministry of Commerce. (Reporting. . .  Full story

Australia shares set to open higher; NZ rises

28/03 Australian shares were poised to open higher on Monday, tracking a strong session on Wall Street ahead of the weekend, while firmer commodity prices are likely to boost oil and gas companies and mining. . .  Full story

LNG imports push Australia's projected gas supply gap out to 2026

28/03 Plans by billionaire Andrew Forrest to have a liquefied natural gas (LNG) terminal ready by 2022 means Australia won't suffer a supply shortfall until 2026, two years later than previously forecast, the energy market operator. . .  Full story

China copper smelters skip Q2 treatment charge floor, citing ample inventory

26/03 China's top copper smelters on Friday set no floor for treatment and refining charges (TC/RCs) in the second quarter, arguing they have enough concentrate in stock as a wave of maintenance gets under way, three. . .  Full story