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Wednesday, 25-Dec-2013 00:28 Email | Share | Bookmark
Australia Shares End Up 0.7% Before Christmas Holidays

You must enter the verification code below to send. Invalid entry: Please type the verification code again. December 23, 2013, 11:29 p.m. economy showed further signs of strength. The benchmark S&P/ASX 200 closed up 0.7% at 5327.2 after hitting a three-week high of 5329.7. Westpac, CSL, Macquarie, Origin, Brambles, QBE, Insurance Australia, AMP and Crown rose at least 0.7%. BHP Billiton, Rio Tinto and Fortescue lagged after spot iron ore slipped 0.6% to US$131.90 following a further spike in China's short-term lending rates. <br>More:

Australia’s MH-60R Maritime Helicopters

DSCA request: support Feb 1/11: Competition. The Australian DoD makes an announcement concerning its MRH-90s : Mr Smith and Mr Clare also announced that a high-level comprehensive diagnostic review of the MRH-90 helicopter project would occur this month. As reported in both the Defence Annual Report and the ANAO Major Project Report released last year, the project has suffered delays of 12 months for the Navys helicopters and 18 months for the Armys helicopters. Delays are due to a series of key issues, including engine failure, transmission oil cooler fan failures and the poor availability of spares 13 MRH-90 helicopters have been accepted by Defence to date and are currently being used for testing and initial crew training. Minister Smith said that the full fitness diagnostic review would be supported by external specialists. It will provide recommendations to Government on the actions necessary to fully implement this important check it out project. 2009 2010 Competition announced and underway; US DSCA request. <br>More:

Australia Approves China State Grid Purchase of SP AusNet Stake

Low pressure just more information north of Australia looks to develop into a stronger storm by this weekend. The center of the disturbance will travel westward through the Timor Sea and into the eastern Indian Ocean. In doing so, the system will move into more favorable conditions for development, including warmer waters and weaker opposing winds. The storm currently looks to strengthen as it takes a turn towards the northwest coast of Australia, near the western Pilbara Coast or Gascoyne coast early next week. Expert Senior Meteorologist Jason Nicholls said, "Conditions look good for rapid strengthening this week and possible Tropical Cyclone Christine has the potential to be a strong storm late in the week." The above graphic shows the possible track of the disturbance late this week, heading towards Northwest Australia. RELATED: <br>More:

Australia Orders Banks to Raise Capital

to below 70 percent and instead can move to 100 percent ownership. Australia in November blocked Archer-Daniels-Midland Co.s takeover of GrainCorp Ltd. 12 weeks after Prime Minister Tony Abbott s [link] election-night vow that Australia is open for business. China State Grids Singapore Power accord is part of its global acquisition plan to boost profits limited by caps on electricity charges at home. Buying the stakes from Singapore Power adds to China State Grids investment in Australia after it agreed last year to buy 41.1 more.. percent of ElectraNet Pty, the operator of the main transmission network in South Australia . <br>More:

Developing Tropical Cyclone Near Australia

Australia and New Zealand Banking Group Ltd, Commonwealth Bank of Australia, National Australia Bank Ltd and Westpac Banking Corp already hold significant capital buffers and are expected to have sufficient reserves set aside to meet the extra requirements by the January 2016 deadline, the Australian Prudential Regulatory Authority said. "APRA therefore does not believe that phase-in arrangements for the HLA (higher loss absorbency) requirement, beyond the two-year lead time, are necessary." The additional requirements for systemically important domestic banks are part of a global framework for financial institutions being overseen by the Basel Committee on Banking Supervision aimed at preventing the kinds of failures and public bailout of banks that occurred in 2008. Australia's big four banks are among the world's largest and most profitable, having avoided the worst of the subprime mortgage crisis, risky lending and an investment banking bubble in the past decade. FILED UNDER: <br>More:

Australia sets additional capital requirements for big banks

23, 2013 9:43 p.m. ET SYDNEYAustralia's banking regulator ordered the nation's largest lenders to deepen capital reserves to protect themselves against economic shocks, tying up funds that might otherwise have been used to fatten dividend payments. Banks including Commonwealth Bank of Australia Ltd., the biggest by market value, and Westpac Banking Corp. will have to raise their capital buffers to 8% from 7% at the start of 2016, the Australian Prudential... <br>More:

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