03/09/2009 - 00:00

This weeks issues

03/09/2009 - 00:00


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This weeks issues

oodside offers Browse partners an exit

 Woodside Petroleum chief executive Don Voelte said the company had suggested a range of exit options to its wavering partners in the $30 billion Browse LNG venture to facilitate the timely delivery of the massive project off the Kimberley coast.

Woodside, which holds 50 per cent of the project, is a strong supporter of the WA government's proposed LNG hub at James Price Point near Broome as the best option for being able to approve development as early as 2011.

ASIC takes supervisory role from ASX

 The corporate watchdog is to take over supervision of all Australia's financial markets to ensure their regulatory arrangements remain among the best in the world, federal Treasurer Wayne Swan says.

The move, which is expected to be completed by the second half of next year, was another step towards Australia's establishment as a financial services hub for the region, he says.

Gorgon's final approval a week away

 Environment Minister Peter Garrett expects to make a decision on whether he will give environmental approvals to the $50 billion Gorgon LNG project within the next week. ''I expect to make a decision in the next week but again I will take the time to go through all of the material in front of me very carefully,'' Mr Garrett told reporters.

Rio's first-half profit plunges 65%

 Rio Tinto's first half profit plunged 64.7 per cent, after the mining giant suffered the effect of falling prices for many of its key commodities. The world's third-biggest miner revealed a net profit of $US2.451 billion ($A2.96 billion) for the six months ended June 30, down from $US6.95 billion in the previous corresponding period.

WA's triple-A credit rating confirmed

 Following analysis of the state government's financial strategy, international ratings agency Moody's has confirmed Western Australia's triple-A credit rating, ranking the state at the lowest possible level of risk. The government says the rating follows careful management of the state's finances, including the introduction of an FTE ceiling; a Wages Policy; the Works Reform Plan; the Economic Audit; the Efficiency Dividend; a Capital Works Audit; and a Red Tape Reduction scheme.


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