INTERNATIONAL AGENCIES

Goods prices tipped to bottom out

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 23 : 24-Jul-15

The iron ore price is currently trading at around $US51.76 per tonne, while thermal coal is fetching $US60.45 a tonne and crude oil is trading at $US56.11 per barrel. A report from the World Bank forecasts that the prices of all three commodities will remain subdued for the remainder of 2015, although an upturn is expected in 2016. Iron ore is forecast to average $US55 per tonne in 2015, before rising to $US56.70 in 2016.

CORPORATES
WORLD BANK, THE GOLDMAN SACHS GROUP INCORPORATED, MORGAN STANLEY AND COMPANY INCORPORATED, UBS HOLDINGS PTY LTD, BLOOMBERG LP, CITIGROUP PTY LTD, RBC CAPITAL MARKETS

Big four rank high for profitability: BIS

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Original article by Clancy Yeates
The Australian Financial Review – Page: 16 : 29-Jun-15

The Bank for International Settlements’ annual report shows that Australia’s four major banks outperformed their peers in developed countries in terms of profitability in 2014. The banks’ pre-tax profits were 1.28 per cent of their assets during the calendar year, ahead of the US and Canada. TS Lim of Bell Potter notes that Australia’s comparatively high interest rates contributed to the profitability of local banks.

CORPORATES
BANK FOR INTERNATIONAL SETTLEMENTS, BELL POTTER SECURITIES LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Anger at withdrawal from UN tourism body

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Original article by Lisa Allen
The Australian – Page: 21 : 12-Dec-14

Australian tourism executives have criticised the Federal Government for cancelling its membership of the United Nations’ World Tourism Organisation. Some 156 countries are members of the international agency, but the Government has decided that the cost of membership is not justified. Tourism & Transport Forum CEO Margy Osmond notes the tourism industry’s significant contribution to the Australian economy

CORPORATES
UNITED NATIONS. WORLD TOURISM ORGANISATION, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN TOURISM EXPORT COUNCIL LIMITED, TTF AUSTRALIA LIMITED, TTF AUSTRALIA LIMITED TOURISM AND TRANSPORT FORUM

Exporters face tough times: BIS

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Original article by Bianca Hartge-Hazelman
The Australian Financial Review – Page: 11 & 16 : 8-Dec-14

A report from the Bank for International Settlements has warned that commodity exporting nations may continue to experience difficult conditions for some time. It cites factors such as the rising US dollar, the recent fall in commodity prices and the funding models used by commercial banks. The price of iron ore has fallen by 18 per cent in recent months, while Brent crude oil is down 32 per cent. The Australian dollar in turn has fallen to a 4.5-year low of $US0.83

CORPORATES
BANK FOR INTERNATIONAL SETTLEMENTS, HSBC AUSTRALIA HOLDINGS PTY LTD, AMP CAPITAL INVESTORS LIMITED, AMP LIMITED – ASX AMP, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN BUREAU OF STATISTICS

IMF’s Lagarde backs GST rise

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Original article by John Kehoe
The Australian Financial Review – Page: 1 & 12 : 13-Nov-14

International Monetary Fund MD Christine Lagarde says the Australian Government should pursue tax reforms such as changes to the GST, but she stresses the need to ensure that the less well-off are not disadvantaged by any such reforms. Lagarde has also urged Australia to increase productivity and lift investment in the non-mining sectors of the economy. Lagarde has also praised Australia’s accomplishments during its presidency of the Group of 20

CORPORATES
INTERNATIONAL MONETARY FUND, GROUP OF TWENTY (G-20), AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, GREAT BRITAIN. OFFICE OF THE PRIME MINISTER

G20 near growth target

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Original article by Jacob Greber, Ben Potter
The Australian Financial Review – Page: 1 & 6 : 22-Sep-14

The Group of 20 (G20) has made progress in its aim to increase global economic growth by two per cent over five years. The International Monetary Fund and the OECD estimated that nearly 1,000 proposals would add 1.8 per cent to global gross domestic product. However, the meeting of finance and central bank heads admitted that more measures were needed to create jobs and economic demand. Australia will mainly achieve its target by over $A125 billion of infrastructure spending and the asset recycling fund

CORPORATES
GROUP OF TWENTY (G-20), INTERNATIONAL MONETARY FUND, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF THE TREASURY, UNITED STATES. DEPT OF THE TREASURY, BUNDESBANK, WESTPAC BANKING CORPORATION – ASX WBC