Countries unite against Russian oil: UK PM
LONDON, RAW – Countries around the world are uniting over the need to take concrete steps to cut reliance on Russian oil even if that is difficult for some in Europe, British Prime Minister Boris Johnson says. The UK earlier said it would phase out Russian imports of oil and oil products by the end…
Flood-hit NSW farmers reach out for help
SYDNEY, AAP – Farmers in the north of NSW are stressed and exhausted, with more than 800 reaching out for state government help as the flood crisis continues. The NSW Minister for Agriculture Dugald Saunders said fodder drops, vet assessments and disposal of dead stock had been among the priorities. Speaking at the NSW State…
ASX200 closes below 7000 points
SYDNEY, AAP – The ASX200 dipped below 7000 points for the first time since the early stages of the Ukraine war, while the US and European allies discuss banning Russian oil imports. The Australian market is on a three-day losing streak after commodities shares, which had surged in recent days, fell sharply on Tuesday. Energy…
World Bank approves $978m for Ukraine
WASHINGTON, RAW – The World Bank has approved a $US723 million ($A978 million) package of loans and grants for Ukraine, providing desperately needed government budget support as the country battles a Russian invasion. The package includes a $US350 million loan supplement to a prior World Bank loan, augmented by about $US139 million through guarantees from…
Asian shares stabilise, oil higher on ban
SHANGHAI, RAW – Crude oil prices have jumped while Asian stocks regained their footing as investors assessed the impact of a worsening conflict in Ukraine and a new US ban on Russian oil. The price of a barrel of crude, already on the march higher in January on supply worries and expectations of a strengthening…
ASX200 index back above 7000 points
SYDNEY, AAP – Australia’s share market has bounced back from three consecutive days of losses, while with a broad-based rally helping the ASX higher by 0.8 per cent by noon on Wednesday. The gains came despite Wall Street closing lower after the US banned Russian oil imports and RBA boss Philip Lowe warning that annual…
PM aims to normalise budget over time
CANBERRA, AAP – Scott Morrison has promised his government will not go down the austerity path to get the federal budget back into balance after deficits blew out from spending to support Australians through the COVID-19 pandemic. The prime minister told a business conference the aim is to normalise the budget settings over time. He…
PM has no interest raising GST post-poll
CANBERRA, AAP – Scott Morrison has no interest in tinkering with the GST, in what he says others call tax reform, should he win the May election. The prime minister has told a business conference his government has been reducing and reforming taxes for many years. “I know there are some … that think economic…
Confidence edges up, mixed among states
CANBERRA, AAP – Consumer confidence remains volatile, rising slightly in the past week against the backdrop of mixed moods among the states. The ANZ-Roy Morgan consumer confidence index – a pointer to future household spending – rose 0.9 per cent to 101.1, a partial recovery from the 2.6 per cent drop in the previous week….
Wall Street slides as oil prices surge
NEW YORK CITY, RAW – Wall Street’s main indices have fallen sharply, with the Nasdaq Composite confirming it was in a bear market, as the prospect of a ban on oil imports from Russia sent crude prices soaring and fuelled concerns about rising inflation. Nasdaq ended down 20.1 per cent from its November 19 record…
