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Australia is regarded as one of the world's safest borrowers, after a global ratings agency upgraded the country to the highest possible rating for its overseas borrowings.

Investment in Australia's mining industry rose by 34 per cent to record levels in the six months to October, new data shows.

Perth-based oil junior Pura Vida has announced plans to raise $4 million and list on the Australian Securities Exchange to fund exploration off the coast of Morocco.

The state government has reported a $325 million operating surplus for the first quarter of the 2011-12 financial year.

Laboratory group Campbell Brothers has increased first half profit by 55 per cent and forecast a rise of up to 66 per cent in full year profit.

The federal government says it will meet its target for a budget surplus in 2012/13, after making new savings worth $11.5 billion over four years, but economists say Labor has not made large enough savings to ensure its forecasts will be met.

Engineering firm UGL has secured $200 million in contracts tapping into Australia's resources boom.The contracts are across the coal, oil and gas and iron ore industries.

To understand the frightening dimension of the financial crisis unfolding in Europe you need to do two things.

Australian shares have posted modest gains after strong rises overseas due to a positive retail performance in the United States and hopes of developments on Europe's debt crisis.

Design and construction company VDM Group has won $30.6 million worth of work with BHP Billiton.VDM has now won over $130 million worth of new work this financial year, it said.

Treasurer Wayne Swan says the OECD has firmly endorsed Australia's budget strategy in its latest economic outlook.

The Australian dollar has opened higher on the possibility of developments on a eurozone debt crisis solution.

US stocks markets burst back to life on Monday, with the major indices boosted by suggestions that Europe's leaders may have a plan to get their arms round the continent's long-running debt crisis.

Gold explorer Alchemy Resources has elected a new board of directors headed by former Independence Group director Oscar Aamodt, after the previous board resigned en masse on Friday.

Qantas Airways has announced it will increase capacity on its regional network in Western Australia, adding nine additional services each week.

The Australian dollar clawed back much of the ground it lost last week to finish Monday more than a 1.5 US cents higher.

The Australian Petroleum Production and Exploration Association has elected Santos' David Knox as chairman and Woodside Energy's Rob Cole as vice chairman for the coming financial year.

An Arabic-speaking career diplomat will be Australia's next ambassador to the Middle Eastern kingdom of Kuwait.

Malaga's Hertel Modern has won a three-year, $90 million contract to provide paint, insulation and fireproofing services on Chevron's Gorgon liquefied natural gas development.

Australian wages grew around four per cent, on average, last financial year, a private sector survey shows.

The Australian share market ended its recent losing streak with firm gains on Monday as hopes mounted that European leaders were closer to finding a solution to the region's debt crisis.

Property Council of Australia president Darren Steinberg will take the top job at Dexus Property Group when chief executive Victor Hoog Antink retires in March.

Insurers estimate the damage from the fires in the Margaret River region will be in the tens of millions of dollars.

Japan's Inpex concedes the cost estimate for its Ichthys liquefied natural gas project (LNG) in the Timor Sea needs to be updated after its joint venture partner flagged a 30 per cent blowout.

Shares in Gindalbie Metals and Royal Resources rose after the iron ore firms settled a project acquisition deal that had been held up by a legal claim.

Planning Minister John Day has appointed Department of Planning and Infrastructure director general Eric Lumsden as the inaugural chairman of the Metropolitan Redevelopment Authority (MRA).

Trade Minister Craig Emerson believes it is important to return the federal budget back to surplus so there's room for the Reserve Bank of Australia (RBA) to cut interest rates again if needed.

Opposition Leader Tony Abbott says tough cuts would not be needed in the federal government's mid-year budget review if Labor had not wasted billions of taxpayers' dollars.

Qantas Airwas shares increased from a seven week low today, despite the airline forecasting a fall in first half underlying profit of up to 66 per cent.

Engineering company Norfolk Group has signed an $82 million contract with BHP Billiton for work on rail signalling systems in the Pilbara region of Western Australia.