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Posts Tagged ‘decision’

EXCLUSIVE: SUPER 7s Oz Lotto has jackpotted to a staggering $90 million next week.

The new, all-time record lottery draw will take place next Tuesday after there were no first division winners in last night’s $50 million draw.

A rush for tickets for last night’s game saw the division one prize pool boosted to a massive $59 million.

Tattersall’s Lotteries PR manager Karen Anning said next week’s Super 7s Oz Lotto
draw will shatter all existing records for lotto games in Australia.

“We were expecting the game to jackpot to $60 million next week if there were no first division winners but, due to the unprecedented level of interest in last nights draw, the decision has been made to offer a minimum guaranteed jackpot level of $90 million, Ms Anning said.

“The lotto frenzy we have already experienced over the past week is expected reach epic proportions in the lead up to next Tuesday nights draw.”

source  :  www.news.com.au
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Treasurer Wayne Swan has taken aim at Australia’s biggest home lender, labelling it selfish for lifting its mortgage and business lending rates.  swan_rudd_hand_400

Other banks have refused to rule out following the Commonwealth Bank of Australia’s (CBA’s) surprise decision to lift its home and business loan rates by 10 basis points to offset higher funding costs.

The opposition said the government’s huge debt burden was putting pressure on interest rates, while a prominent market economist said it may force the Reserve Bank of Australia (RBA) to cut the official rate again to counter any impact from CBA’s move.

CBA said it took Friday’s decision “reluctantly”, but at a standard variable mortgage rate of 5.74 per cent, up from 5.64 per cent, it was still the lowest on the market.

The rate hike will add $18 a month to repayments on a $300,000 home loan over 25 years.

The bank said it had absorbed as much of its additional funding costs for as long as it could.

“Unfortunately, we have seen the bank’s wholesale funding costs remain high and continue to increase as previous long term funding matures and is replaced with new funding at significantly higher cost,” CBA group executive of retail banking services Ross McEwan said in a statement.

Such reasoning drew no sympathy from the treasurer.

There are ups and downs when it comes to those decisions over time, but there are few decisions I can think of that are more selfish than this one,” Mr Swan told reporters in Brisbane.

“I think Australians, rightly, will be furious with the Commonwealth Bank.”

Prime Minister Kevin Rudd echoed those sentiments during a speech to a business lunch in Brisbane.

“We are all in this together – businesses, workers, government and the Reserve Bank – and today’s decision by the Commonwealth Bank runs counter to this nationwide effort,” Mr Rudd said.

The other three major banks – ANZ, National Australia Bank and Westpac – said their rates were constantly under review.

NAB said it had no current plans to raise its home loan rate but noted “all Australian banks” had been incurring significantly higher funding costs for some time.

Opposition treasury spokesman Joe Hockey said the government was putting pressure on interest rates by running up a huge debt.

“Kevin Rudd and Wayne Swan feigned outrage about this interest rate increase, yet they are directly responsible for it,” Mr Hockey told reporters in Sydney.

“This is the beginning. You will end up with higher interest rates directly as a result of the spending binge of the Rudd government and the massive debt they are accruing.”

Home buyers may be enjoying the lowest mortgage rates in 41 years, but have already missed out on about 30 to 40 basis points of the RBA’s total 425 basis points of official rate cuts, with banks refusing to pass on the cuts in full because of the cost of funding.

For small businesses it has been even worse, being short changed by about 140 basis points.

The CBA’s decision comes in a week that saw massive boosts to both consumer and business confidence, as well as data showing sustained growth in home lending – sucked in by low mortgage rates and a more generous first home owners grant.

April mortgage data showed loan demand has grown for seven straight months to a 14-month high, as well as record demand from first home buyers and the strongest interest from investors in nearly two years.

It also showed that the banks have cornered more than 92 per cent of all loans – a 33-year high.

Westpac chief economist Bill Evans said CBA’s decision could well be countered by another cut by the RBA.

“If it does have an impact, particularly on confidence in the housing market, which has been the most encouraging source of recovery in the Australian economy, it may bring a rate cut back on the table at the Reserve Bank,” Mr Evans told Sky News

Source  :  www.thedaily.com.au

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Migration Agents – Migrant numbers need to increase to support infrastructure projects

The Migration Institute of Australia (MIA) has warned the government that work on infrastructure projects will be difficult to accomplish following the decision to put australian-immigration-construction-workers restrictions on the skilled migration program.

While the MIA welcomed the Australian immigration ministers decision to increase the number of humanitarian and family reunion Australian visas for the 2009/10 Migration Program, they were less than impressed with the decision to remove a number of trade-level occupations from the skilled occupation list.

“The MIA awaits with great interest to see how the Government proposes to administer the new job-readiness criteria for trade occupations. It’s hard to imagine a one-size-fits-all assessment system of employability,” said Maurene Horder, CEO of the Migration Institute of Australia.

The Government reduced the Australian skilled migration program at the turn of 2009, when the recession was starting to take effect. The planning level for the remainder of the 2008-09 financial year was reduced from 133,500 to 115,000 skilled migration visas and the Critical Skills List (CSL) and priority processing order were both introduced so that the Government could target the skills it needed most.

As of the 01 July 2009, the Australian skilled migration planning levels will be further reduced to 108,100 visas, and the CSL and priority processing order will remain as guidelines for the Department of Immigration and Citizenship’s visa processing officers. This means that sponsored visas and independent visas with skills nominated in the health, engineering and IT sectors will constitute a major part of Australian visa approvals during the start of the next financial year.

Fortunately, the Australian skilled migration program remains flexible to the needs of the Australian economy. While states/territories and employers have been given greater power to target the skills they need, the Immigration Minister Chris Evans also has the ability to extend the planning levels for the Australian skilled migration program and amend the CSL so that certain nominated trades can have priority for processing, if the economy needs a boost in skilled workers.

Senator Evans said in a recent statement that the Government is committing itself to “a long-term planning framework for migration as a key component of the current reform agenda” and that their extension of the family migration scheme is testament to its perception of the importance of family.

“We are recognising the importance of family through this boost which will benefit Australians who seek to have their parents, partners or children join them to live here permanently,” Senator Evans added.

The family stream of the Australian migration program has had 2,500 places added to the Spouse and Fiancée Visa program, 1,000 places to the Parent Visa program, and 300 to the Child Visa program.

Source www.gettingdownunder.com

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For the 1000’s hot footing it Down Under to live in Perth every year, it can be in the search of a better job, a better life or just the chance of a sun tan.

It can be a daunting decision to pack up your life, leave your family and make the move.  Not knowing what to expect when you get here can oftwestern-australia-kangaroo-beachen be the biggest nail bitter of all, and sometimes the reason used for not making the move at all.

Many people I know, including me I might add, move to Perth without even coming over for a nose around first.

Some, like me again, have never even set foot on Australian soil before coming.

While this to some might seem like a crazy thing to do, for those who have, the chance at a better life is validation enough for such an otherwise impulsive and risky decision.

So if you’re thinking of packing up your sunnies and heading south and your knowledge of Aussie life is limited only to your in-depth knowledge of the neighbours of Ramsey Street and Summer Bay, then here is the inside scoop on what life can really be like at the bottom of the world…

Just to state the blindingly obvious and save any possible cyber bashing, everything I write about is only based on my opinions, experiences and life here in Perth and yes, although the odd thing about this place really does make you scratch your head in disbelief, on the whole, I can’t think of a place that I would rather live. 

Source  :  www.rachelhenwood.com

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A GIRRAHWEEN man has  won $1 million from Wednesday’s Lotto draw – after he was mistakenly sold a ticket for the midweek draw.

The man, in his 40s, actually wanted a ticket in Monday’s Lotto draw, but was instead sold a ticket in Wednesday’s draw by a teller at Summerfield News & Lotto in Girrawheen.

When the sales assistant attempted to rectify the mistake by cancelling the ticket, the man insisted that the ticket not be cancelled.

“Please don’t cancel the ticket; it might be lucky,” he told the sales assistant.

His decision ended up winning him the entire Wednesday Lotto Division One amount on offer.

The man, who has been playing Lotto for five years, said that $1 million may not be much money for some people, but for his family it is.

“For us, its big money,” he said.

Whilst he was still coming to terms with the win, the man said his first priority would be to pay off his debts, and then he may consider building another house. His plans also included an overseas family holiday later in the year.

This was the third Division One Lotto win within the past week for WA and the 33rd Division One win for the state so far this year.

Tickets on sale for $30 million OZ Lotto jackpot draw

$30 million remains as the largest Division One amount ever won by a WA Lotto player and is up for grabs in Tuesday’s OZ Lotto draw.

Two Western Australians have won a $30 million Lotto prize in the past; the first, a couple from Leeming in 2001; the second, a university student in October 2007.

And, only last week the Western Australians have won a $30 million Lotto prize in the past; the first, a couple from Leeming in 2001; the second, a university student who for 10 months hadn’t bothered to check a ticket her father had given her as a gift. When she finally decided to check it, she became more than $13 million richer.

With OZ Lotto proving to be a ‘winning’ game for WA players, anyone who hasn’t already got a ticket in Tuesday’s $30 million OZ Lotto draw could put it on their weekend shopping list, or get a friend or work colleague to prompt them to buy their ticket before 6pm on Tuesday,” says Lotterywest spokesperson Jodi Eastman.

Lotterywest is unique in Australia in its role of returning its profits directly to the community through a grants program. Last financial year alone, over $205 million was raised for WA hospitals, sports, the arts and not-for-profit organisations

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