3rd Battalion troops welcomed home in Qld

AUSTRALIAN diggers who trained Afghan army recruits in the face of rising insider attacks have been welcomed home by their proud local communities.

Families and friends in Brisbane and Townsville welcomed 750 men and women from the 3rd Battalion of the Royal Australian Regiment Task Group on Saturday.

About 350 diggers from the Townsville-based 3rd Brigade and 400 from the Brisbane-based 7th Brigade paraded after their deployment in Afghanistan's Oruzgan province training troops for the fledgling Afghan army.

First Division and Deployable Joint Force Headquarters Commander Major General Stuart Smith said it was an honour to welcome the soldiers home and praised their role in the "decisive development of the Afghan National Security Forces".

"On behalf of all Australians, I thank them for their service," he said.

Maj Gen Smith said the deployment had come at a high cost to the battalion.

Three diggers - Lance Corporal Stjepan Milosevic, Sapper James Martin and Private Robert Poate - were murdered by a rogue Afghan soldier they were training.

"The thoughts and prayers of all defence personnel are also with these soldiers, their family and friends," Maj Gen Smith said.

The commander of the 3rd Brigade, Brigadier Shane Caughey, commended the families, who he said were often the unsung heroes of any deployment, managing life in Australia so their loved ones could undertake their important and often dangerous jobs.

All Australian troops are to withdraw from forward operating bases in Uruzgan by the end of this year, leaving troops at Tarin Kowt, Kandahar and Kabul.

Australia's Special Operations Task Group will continue to operate until December 31, 2014.

12.59 | 0 komentar | Read More

UN climate talks go into extra time

UN climate talks in Doha have yet to produce a deal the day after their scheduled close, with negotiators locked in a stand-off about funding, a delegate says.

"We do not expect a deal for at least several more hours," the official, who was closely involved in the talks, told AFP on Saturday.

Haggling at the UN meeting continued throughout the night and into Saturday morning.

Negotiators in Doha must extend the greenhouse gas-curbing Kyoto Protocol as an interim measure to rein in climate change and smooth the way to a new, global pact due to take effect in 2020.

But the issue of funding to help poor countries deal with the fallout from global warming and convert to planet-friendlier energy sources has hamstrung the haggling by envoys from nearly 200 countries gathered in the Qatari capital.

Developed countries are being pressed to show how they intend to keep a promise to raise climate funding for poorer nations to $US100 billion ($A95.8 billion) per year by 2020 - up from a total of $US30 billion in 2010-2012.

Developing countries say they need at least another $US60 billion between now and 2015 - starting with $US20 billion from next year - to deal with a climate change-induced rise in droughts, floods, rising sea levels and storms.

But the United States and European Union have refused to put concrete figures on the table for 2013-2020, citing the tough financial times.

There was also deadlock on a separate demand by least developed countries and those most at risk of sea level rise that provision be made for the losses they suffer because of climate change - a phenomenon they blame on the West's polluting ways since the industrial era.

12.59 | 0 komentar | Read More

ACT launch site for NDIS: Gallagher

The ACT has signed an agreement that will see the NDIS launched in Canberra from July 2014. Source: AAP

ACT Chief Minister Katy Gallagher says 5000 people with disabilities will benefit as a result of the territory being a launch site of the national disability insurance scheme (NDIS).

Ms Gallagher on Friday signed an agreement with Prime Minister Julia Gillard that will see the NDIS launched in Canberra from July 2014.

"The commonwealth has committed $10.6 million for enhanced services and NDIS readiness in the ACT as well as $12 million to be spent in the ACT on sector development," the chief minister said in a statement.

Enhanced disability services will be delivered from July 2013 ahead of the full roll out of the NDIS 12 months later, Ms Gallagher said.

The chief minister and Ms Gillard signed off on the deal following the Council of Australian Governments (COAG) meeting in Canberra.

Ms Gallagher said the NDIS in the territory would see additional support flow "to up to 5000 Canberrans with a range of disabilities by 2016/17".

"It will make a real and tangible difference to their everyday lives," the Labor leader said.

"The ACT is proud to be one of the five launch sites around the country. With the signing of the bilateral agreement and the introduction of the legislation we are now on our way to implementing the NDIS."

Friday's COAG communique makes clear that NSW, Victoria, South Australia, Tasmania and the ACT all signed bilateral agreements with the commonwealth to "confirm the operational and funding details for the roll-out of the NDIS in each launch site".

"From this time, under the launch arrangements, people with a disability, their families and carers will start to benefit from a fairer, more sustainable and equitable approach to supporting people with disability," the communique states.

"Discussions on further launch sites are continuing."

Ms Gillard on Friday welcomed the five launch-site agreements with the states and territories.

She said a separate deal meant "even those places not participating in launch arrangements will learn from the launch arrangements".

"So this will be shared work," the prime minister told reporters in Canberra.

12.59 | 0 komentar | Read More

Qld fires under control

FIREFIGHTERS are confident they'll have a dangerous bushfire burning in Queensland's Western Downs under control on Friday night.

Fire crews and water bombing helicopters continued to tackle the blaze at Halliford, southwest of Dalby, that caused the evacuation of a dozen rural properties on Thursday.

Crews spent Thursday night building containment lines after the fire blackened 21,000 hectares of forest and grassland in recent days.

Queensland Fire and Rescue Service rural director Peter Varley says a change in wind direction has helped and crews expect to have it "completely" within containment lines during the night.

"It came out of a densely forested area we suspect from a lightning strike," Mr Varley told AAP.

Fires burning around Mt Archer in central Queensland and south of Ipswich have also calmed down and are within containment lines.

"It looks good for the weekend; milder conditions, favourable wind directions and moisture in the air.

"I think some crews will be able to have a well-deserved break."

12.59 | 0 komentar | Read More

Tourists leave Thai islands after blackout

AUTHORITIES are trying to restore power on two popular islands in southern Thailand after a power blackout extending at least 48 hours caused travellers to leave.

Koh Samui and Koh Phangan in Surat Thani province lost electricity on Tuesday morning when an underground high-voltage cable ruptured.

Samui district chief Prasert Jitmung said on Thursday the hospital and most five-star hotels were not heavily affected by the blackout, as they had their own diesel-fuelled electricity generators.

He said a large number of Thai and foreign tourists had left the island after the blackout.

Authorities have distributed mobile generators to give temporary power on the two islands.

Prasert said power will likely resume on the two islands by Thursday afternoon.

12.59 | 0 komentar | Read More

Aust stocks close weaker with no direction

AUSTRALIAN stocks finished slightly weaker on Thursday, with the market lacking direction despite an unexpected fall in Australia's unemployment rate.

At the close on Thursday, the benchmark S&P/ASX200 index was 11.1 points, or 0.25 per cent, lower at 4,509.3, while the broader All Ordinaries index was down 12.3 points, or 0.27 per cent, at 4,515.7.

On the ASX 24, the December share price index futures contract was 13 points lower at 4,512, with 22,534 contracts traded.

IG Markets analyst Chris Weston said the local market had been weak before the jobs figures on Thursday.

"It hasn't really changed the landscape at all," he said.

"We've seen a pretty weak market. Wall Street didn't provide us with much of a backbone to go on."

But he said there were some positive signs in the US with President Barak Obama saying a resolution to the world's biggest economy's economic woes could be found within a week.

The European Central Bank (ECB) could also downgrade its guidance.

Locally, economists said an unexpected fall in Australia's unemployment rate was a sign the economy is holding up quite well.

The Dow Jones industrial average gained 82.71 points to close at 13,034.49.

In Europe, London's FTSE 100 index of leading companies closed up 0.39 per cent to 5,892.08 points, while Frankfurt's DAX 30 added 0.26 per cent to 7,454.55 points, and in Paris the CAC 40 climbed 0.28 per cent to 3,590.50 points.

Local banking shares all finished weaker on Thursday.

Commonwealth Bank shed 72 cents to hit $60.36, while Westpac fell 11 cents to $25.47 and ANZ slipped five cents to $24.72.

NAB fell six cents to $24.25.

The big miners were stronger, with BHP up 12 cents at $34.41 and Rio Tinto 57 cents higher at $59.92.

Meanwhile, shares in troubled broadcaster Ten Network remain in a trading halt as it announced an extra $35 million in cost cuts and a $230 million capital raising venture in response to its recent poor performance.

National turnover was 1.3 billion securities worth $3.7 billion, with 415 stocks up, 488 down and 351 unchanged.

12.59 | 0 komentar | Read More

Big boost in training enrolments in SA

A move to make many TAFE training courses free in SA has lifted enrolments, the government says. Source: AAP

A MOVE to make many TAFE training courses free in South Australia has lifted enrolments and will help grow jobs, the state government says.

Courses have been free or heavily subsidised since July and latest figures show a 48 per cent increase in the number of people starting certificate one and two training in a variety of disciplines including engineering, information technology, education and children's services.

Overall, enrolments across all courses are up by 14,000, the government says.

"One of the biggest barriers to people getting the skills they need for a good job has been the cost of training courses," Premier Jay Weatherill said on Wednesday.

"By making training courses free and subsidised, many more people are getting the skills they need for better jobs."

Employment Minister Tom Kenyon said training and education were great drivers of innovation and productivity.

"Productivity drives employment growth and it drives profits and it drives economic growth," he said.

"So it (training) not only helps people get the jobs that are there, it creates jobs."

12.59 | 0 komentar | Read More

Vic urges federal U-turn on hospital cash

VICTORIA wants the federal government to reconsider a cut to the state's health funding at Friday's meeting of state and territory leaders in Canberra.

Health Minister David Davis said the federal government had decided to slash Victoria's hospital funding by $107 million between December this year and June 2013.

He said fewer surgeries would be performed because of the federal funding cut over the Christmas period, unrelated to surgeons going on holidays.

"There will be more closures and less operations performed (over the Christmas holiday period) than there would otherwise have been," he told reporters on Wednesday, ahead of the Council of Australian Governments (COAG) meeting.

"I note that the prime minister and premiers are meeting on Friday so we hope that the commonwealth steps back from these decisions."

Mr Davis said the federal government had pulled $475 million in funding to the state's hospitals over four years.

Federal Health Minister Tanya Plibersek has said the state will actually receive almost $1 billion in extra commonwealth funding over that period.

She also accused Mr Davis last month of failing to complete the necessary paperwork to secure more than $200 million of commonwealth funding for extra hospital beds and regional hospitals.

He has since sent the appropriate documentation and Mr Davis's spokeswoman said the commonwealth has yet to respond.

It is believed state and territory health ministers will next discuss hospital funding during a telephone hook-up on Friday next week.

Deputy Opposition Leader James Merlino said the Victorian government had cut $616 million of health funding over its last two budgets.

"The state government needs to not take the knife to health," he told reporters.

12.59 | 0 komentar | Read More

Weak global growth sparks another rate cut

The RBA has dropped the cash rate to 3.00 per cent, its lowest level in more than three years. Source: AAP

THE central bank has given Australians an early Christmas present, but there are no signs there will be more interest rate cuts in early 2013.

The Reserve Bank of Australia (RBA) on Tuesday cut the cash rate by a quarter of a percentage point to three per cent, taking it to its lowest level since October 2009 during the global financial crisis.

The RBA has cut the cash rate by 1.5 percentage points since November 2011.

This has been done in an effort to maintain growth in the face of a weak US economy, the euro zone debt crisis, a dip in Chinese economic growth and commodity prices falling off their all-time highs.

RBA Governor Glenn Stevens said in a statement on Tuesday that most indicators suggest that the Australian economy is growing around trend, but the peak in resource investment is getting closer.

"As it does, there will be more scope for some other areas of demand to strengthen," he said.

The Australian dollar rose a quarter of one US cent after the interest rate announcement, which Easy Forex currency dealer Anthony Botros said was due to further interest rate cuts being unlikely.

"In the accompanying statement there's no signs from the central bank there would be any more rate easings in the first quarter of 2013," Mr Botros said.

"They said recent easings of late are starting to work their way through the economy and they foresee that inflation pressure will be contained in the next one to two years."

Commonwealth Bank senior economist Michael Workman said the RBA's statement suggested concerns about the persistently high value of the Australian dollar may have also contributed to the decision to cut.

"The exchange rate still hasn't shown any signs of weakening," he said.

"It is just stuck in this range of 103-105 US cents, it is just remarkable."

Mr Workman said the high value of the Australian dollar was one of the biggest negative influences on the economy.

He said the RBA was likely to cut the cash rate again in February if the currency is still around the same level.

Australian National Retail Association president Margy Osmond said the reduction in the cash rate will give consumers and retailers a boost but the move could have been too late for Christmas.

"It might not be enough to have an immediate impact on Christmas sales, but may be enough to encourage shoppers into the shops through January," she said.

"Of course, the banks have added to the delay with few moving immediately to slash their rates in response to a move by the central bank."

Prime Minister Julia Gillard, earlier on Tuesday, urged banks to pass on the interest rate cut.

"It's very close to Christmas ... we want to see families benefit from any interest rate reduction that flows today," Ms Gillard said.

The release of weak retail spending data on Monday raised the possibility by some market watchers that the RBA could cut by as much as half a percentage point in December.

Premier Investments chairman Solomon Lew was one of them.

"I think if they're going to do a quarter and a quarter it's not going to be as effective," he said after the retailer's annual general meeting on Tuesday.

"They're sending a message at 0.5 per cent."

If the RBA's interest rate cut was passed on in full, repayments on a $300,000 mortgage would drop, on average, by almost $47 a month.

12.59 | 0 komentar | Read More

ASIC gives auditors a yellow card

THE corporate regulator has issued auditors with "a yellow card" as it moves to prevent another major company collapse.

Almost one in five auditors is not doing their job properly, leading to a significant deterioration in auditing standards over the past 18 months, a report by the Australian Securities and Investments Commission (ASIC) shows.

In 18 per cent of the 602 key areas reviewed, auditors did not obtain sufficient evidence or exercise sufficient scepticism.

ASIC chairman Greg Medcraft said the results were disappointing but he would not concede that the industry was in crisis.

"It's two strikes or a yellow card," Mr Medcraft said in a teleconference on Tuesday.

"They've actually got to lift their game. This is troubling."

He said the audit industry and firms of all sizes could not live in denial of the findings.

"Just because there are similar trends overseas, that is not a satisfactory excuse."

He is concerned that a deterioration of standards could lead to investor losses and a loss of confidence.

"We don't want to see another major collapse where there has been a significant amount of mis-statement," he said.

While refusing to identify individual firms, ASIC said many companies failed to comply with auditing standards.

There were many instances when auditors accepted management's explanations without challenging the underlying assumption.

And many auditors in the mining industry did not exercise professional scepticism when relying on foreign reports.

The release of the findings follows the collapse of prominent companies Centro, Trio Capital and Banksia where auditing failures were cited.

ASIC said firms needed to examine rotating auditors and audit control systems.

"Next year if we see the situation not improving then we may consider writing to treasury on options for reform," Mr Medcraft said.

"We can't sit by and see a further deterioration."

He said investors and other users of financial statements had to be confident in auditors.

"This is the cornerstone of commerce."

ASIC is also looking at the independence of auditors following concerns they are being paid by companies whose books they are reviewing.

However, while this form of remuneration is not uncommon, there was no obvious alternative model, Mr Medcraft said.

There may have been some more pressure on costs, but there was no satisfactory excuse for a decline in quality.

12.59 | 0 komentar | Read More

Bonds up on rate cut expectations

AUSTRALIAN bond futures prices have rallied on expectations the Reserve Bank of Australia will cut the cash rate on Tuesday.

JP Morgan interest rate strategist Sally Auld said a string of weaker-than-expected economic data released on Monday increased expectations the RBA would cut the cash rate.

"The data was pretty much all one direction," she said.

She said futures markets had now priced in an 88 per cent likelihood the RBA would cut the cash rate by 25 basis points at its December board meeting on Tuesday.

Australian Bureau of Statistics figures released on Monday showed retail spending was flat in October while ANZ job ads figures showed job advertisements declined for an eight straight month in November.

Meanwhile, the Australian Industry Group performance of manufacturing index (PMI) showed the manufacturing sector contracted for the ninth straight month while the TD Inflation survey showed prices fell 0.1 per cent in the month.

Ms Auld said demand for bond prices was likely to remain strong heading into the RBA's decision.

"Clearly most people are expecting a rate cut tomorrow so the big surprise would be if they didn't go," he said.

"But if they don't go tomorrow I actually think the market is going to scratch its head and say well there is maybe a chance of a 50 point cut in February."

At 1630 AEDT on Monday, the December 10-year bond futures contract was at 96.935 (implying a yield of 3.065 per cent), up from 96.915 (3.085 per cent) on Friday afternoon.

The December three-year bond futures contract was trading at 97.420 (2.580 per cent), up from 97.380 (2.620 per cent).

12.59 | 0 komentar | Read More

Boston church to sell 1640 hymn book

CONGREGANTS of one of the US's oldest churches have voted to auction off a 372-year-old hymn book that's expected to fetch between $US10 million ($A9.63 million) and $US20 million (19.25 million).

Members of the Old South Church in Boston authorised the sale of one of its two copies of the Bay Psalm Book, which was published in 1640. It is among the first books ever published in North America, and only 11 copies remain.

Board of Trustees Chairman Phil Stern says the church wants to continue growing its endowment and take care of some "critical capital needs".

He says although there was loud opposition to the sale, the vote wasn't close, with 271 votes cast in favour and 34 against.

Members also authorised the sale of 19 pieces of Colonial-era silver.

12.59 | 0 komentar | Read More

Man takes road trip wrong way down Hume

DRIVERS on the Hume Highway in NSW were forced to veer out of the way as an out-of-state motorist came barrelling the wrong way down the road on Sunday morning.

Police at Goulburn in the state's Southern Tablelands started receiving calls just before 8am (AEDT) from motorists who reported a male driver travelling south down the northbound lanes of the highway at high speed.

Some drivers flashed their lights in a bid to alert the driver, police say.

Three police cars headed out but in the meantime another motorist flagged down the ACT-registered car.

Investigators were told that the member of the public tried for 20 kilometres to get the car's 59-year-old driver to stop.

Police attempted to speak with the driver, who was visibly unwell and confused.

The man was issued with a court attendance notice for dangerous driving and is required to appear at Goulburn Local Court on December 12. His licence was also suspended.

12.59 | 0 komentar | Read More

Weapons to Syria going via Iraq

The air corridor over Iraq has emerged as a supply route for weapons for the Syrian government. Source: AAP

THE air corridor over Iraq has emerged as a supply route for weapons for the beleaguered government of Syrian President Bashar al-Assad, including rockets, anti-tank missiles, rocket-propelled grenade and mortars.

Citing unnamed US officials, the New York Times newspaper said that to the disappointment of the administration of US President Barack Obama, American efforts to persuade the Iraqis to randomly inspect the flights have been largely unsuccessful.

Iran has an enormous stake in Syria, which is its staunchest Arab ally and has also provided a channel for the Islamic republic's support to the Lebanese Islamist movement Hezbollah, the report said.

According to the paper, Iran appears to have been tipped off by Iraqi officials as to when plane inspections would be conducted, thus helping Tehran avoid detection.

Iran's continued efforts to aid the Syrian government were described in interviews with a dozen US administration, military and congressional officials, the Times said.

"The abuse of Iraqi airspace by Iran continues to be a concern," the paper quoted one of the officials as saying.

"We urge Iraq to be diligent and consistent in fulfilling its international obligations and commitments, either by continuing to require flights over Iraqi territory en route to Syria from Iran to land for inspection or by denying overflight requests for Iranian aircraft going to Syria."

12.59 | 0 komentar | Read More