Treasurer Swan says rising interest rates are the sign of stronger economy

Treasurer Swan says rising interest rates are the sign of stronger economyTreasurer Wayne Swan said today that the rising interest rates are the sign of stronger Australian economy. The Treasurer was backing the recent rise in interest rates by the Reserve Bank of Australia. Swan also appealed the retail banks not to raise their rates beyond the recent increase by RBA.

The Reserve Bank of Australia increased its cash rate by 25 basis points to 4.25% at its monthly board meeting today. This is the second monthly increase in a row and the fifth increase in past 7 months.

Australian Executives are confident of a strong end of 2009/10

Australia EconomyA survey by Dun & Bradstreet showed that now more Australian executives and entrepreneurs are estimating a strong finish to FY 2009/10. They are also confident of better business performance for the remaining period of the year 2010.

The latest business expectations survey from Dun & Bradstreet also showed that sales and profit expectations reached their highest level in more than 6 years.

OZ Job ads grow in March, second time in a row

OZ Job ads grow in March, second time in a rowThe total number of job advertisements placed in major metropolitan newspapers and on the internet grew at a decent pace in the month of March, according to an ANZ survey. The growth in job ads signals that Australian labor market is on its way to recovery as the employers are now becoming more confident about the economic outlook.

The ANZ job advertisement series showed that the total number of job advertisements placed in major metropolitan newspapers and on the internet rose 1.8% in March. This was reported the second consecutive growth in monthly job ads.

CIL posts 400% rise in profit; to launch IPO in July

CIL posts 400% rise in profit; to launch IPO in JulyPublic sector coal miner Coal India Ltd. (CIL) posted a four-fold rise in its bottom-line for the financial year 2009-10. The company booked a net profit of Rs.8,312 crore for the fiscal as compared to Rs.2,078 crore in the previous financial year.

The company’s top-line at Rs.52,088 crore witnessed a rise of just 13.74 per cent over the year-ago period, Partha Bhattacharya, the company’s Chairman and Managing Director, said in a statement.

Toyota faces regulator’s wrath; fined $16.4 million

Toyota faces regulator’s wrath; fined $16.4 millionThe US Transportation Department has slapped Japanese automaker Toyota Motor Corp. with a penalty of $16.4 million for delaying in informing the US authorities about the gas pedal defects found in the company’s cars, the department said in a statement on Monday.

Though the amount stood as that the largest civil fine ever levied by US auto safety regulators, many believe that the fine won’t hurt the automaker much as it’s cash on hand alone amounts to nearly $25 billion to $30 billion.

Apartment rents continue to grow in US; worst may be over

Apartment rents continue to grow in US; worst may be overIf the trend seen in the apartment rent segment is anything to go by, then the real estate is out of the recession. This segment has seen a positive growth during the first quarter this year.

The rise in rents has come after five months of decline and that is the good news in the growth story.  It also means that the apartment vacancy rate, which was at the highest level of 8 per cent, has also come down.

This information was revealed by a research firm, Reis Inc. In the 70 top US markets which were studied by it, 60 showed an increase.

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South Korean Government announces $900 million subsidy for electric vehicles

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