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Inflation fears hit Australian stocks

BY : | 2008

An Australian Reserve Bank warning that inflation will stay high caused Australian stock prices to tumble 2.1 percent Monday.The All Ordinaries Index fell 121 points to 5,603 and the ASX 200 lost 120 points to close at 5,538.All sectors took a hit...

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Sydney under siege from non-stop rain

BY : | 2008

Sydney is facing a growing dilemma as unrelenting precipitation has drenched the Australian city with seven inches of rain so far this month.While Sydney only experienced 0.2 inches of rain last February, the total to date this month sits at nearly...

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Mortgage rates in Australia top 9 percent

BY : | 2008

Bank mortgage rates in Australia topped 9 percent Friday in the wake of a rate hike at Australia's Reserve Bank.St. George Bank increased variable mortgage rates by 0.25 percent to 9.02 percent, the Sydney Morning Herald reported. But, some banks...

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Australian stocks close higher

BY : | 2008

The Australian share market, snapping a three-day losing streak, closed higher Friday with prices up 1.1 percent across the board.The All Ordinaries Index rose 56 points to 5,724 and the ASX 200 jumped 61 points to 5,658.Big banks all did well to...

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Aussie treasurer wants surpluses saved

BY : | 2008

The Australian national treasurer has called for an end to the government returning revenue surpluses to taxpayers, it was reported Thursday.Treasurer Wayne Swan said the government's policy of returning windfalls puts too much pressure on the...

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Australia-Japan clash over whale hunt

BY : | 2008

Australian and Japanese officials clashed verbally Thursday over photographs purporting to show the Japanese slaughter of a whale and calf.The photographs, taken by an Australian Customs ship in the Southern Ocean, allegedly showed the two whales...

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Australian stocks slip after rate hike

BY : | 2008

The Reserve Bank of Australia lifted interest rates by 0.25 percent Tuesday to 7 percent and stock prices slipped across the board..With interest rates now it their highest since 1996, the main market indicator -- the All Ordinaries Index -- fell 70...

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Qantas flight delayed by blocked drain

BY : | 2008

A pilot for the Australian airline Qantas refused to take off because a sink on his Boeing 767 was blocked by coffee grounds.The flight departed from Sydney once the ground crew found the problem and fixed it, The Melbourne Sun-Herald reported.The...

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DNA shows how rats spread disease

BY : | 2008

Australian scientists said the DNA of the common black rat suggests different lineages are responsible for spreading disease.An international team has identified six distinct lineages in the black rat's family tree, each originating from a different...

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Man arrested in alleged ecstasy ring

BY : | 2008

An Israeli man could be sentenced to life in prison following his conviction for attempting to smuggle $45 million worth of ecstasy into Australia.Benjamin Rosenfeld was stopped in Sydney last year when customs officials allegedly found a shipment...

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Australia to leave Iraq war by midyear

BY : | 2008

The new Australian government will pull its 550 combat troops out of Iraq by the middle of the year, Foreign Minister Stephen Smith said.Smith made the announcement after spending several days in Washington meeting with U.S. Vice President Dick...

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Aussie stocks down after volatile trading

BY : | 2008

A volatile day on the Australian share market saw stock indexes close down 1.7 percent across the board.The All Ordinaries Index lost 89 points to 5,665 and the ASX 200 fell 98 points to 5,619.The banking sector took the biggest hit with the...

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