Qantas increases fares before Christmas

QANTAS will increase international airfares by up 5 per cent this week, offering further evidence that the recent run of exceptionally cheap air fares is ending.

In its first international fare increase since June last year, Qantas will raise first-class and business-class fares by 3 per cent on Friday. The increases will affect popular routes such as Britain, Europe, Singapore and Hong Kong but not the hotly contested routes to the US, reports The Australian.

Premium economy and economy tickets will rise by 5 per cent, reflecting the relative strength of the leisure markets as travellers responded to the cheaper airfares and a high Australian dollar. These increases apply to wider range of destinations that include North America.

“Qantas reviews pricing continuously on all routes, taking into account demand and capacity, competitor actions and business performance,” a Qantas spokeswoman said.

Qantas has already been successful in raising domestic airfares by 5-10 per cent and desperately needs to get international fares up to improve yields, which in October were 24 per cent down on the previous year.

Qantas will test the water to see whether the increases affect passenger loads and whether competitors match them.

But even if the new fares stick, increased competition and continuing market softness is unlikely to see ticket prices return to previous high levels any time soon.

Read the full report in The Australian.

Source  :  www.news.com.au

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Banks set own interest rate hikes

 

Banks say they will be forced to lift rates

Will be more than official RBA rises

Facing higher costs of raising money

 

 

BANKS have confirmed homeowners’ worst fears: they will increase mortgage rates by more than the official Reserve Bank rises in the coming months.

The Big Four banks claim they will be forced to lift interest rates beyond the official RBA cash rate increases because they are facing higher costs of raising money in the wholesale markets.

Full story  :  http://www.news.com.au/business/money/story/0,28323,26194165-5013952,00.html

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RBA lifts rates

The Reserve Bank has raised its key interest rate, making Australia the first developed nation to reverse the cycle of cuts triggered by the global financial crisis. Analysts say more increases are on the way.

Today’s 25-basis-point rise pushes the central bank’s cash rate to 3.25 per cent in a move that will add $40 to the average monthly payment for a typical $300,000 mortgage if it is passed on by commercial banks. The extra cost may stretch household budgets at a time when unemployment remains on the rise.

All four of the big banks – Commonwealth Bank, Westpac, National Australia Bank and ANZ – said they have placed their variable interest rates under review.

Source  :  www.watoday.com.au

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Petrol prices ‘rising’ in next fortnight

Further increases in petrol prices are predicted as Australia’s unleaded benchmark price scaled a 10-month high of almost $100 a barrel in the past week.  

While the continued signs of a recovery in the global economy had been great news for share market investors, the same could not be said for motorists, Commonwealth Securities economist Savanth Sebastian said.

The Australian Institute of Petroleum’s weekly report showed the unleaded petrol prices rose by an average 1.9 cents per litre in the past week to 124.5 cents.

The average metropolitan price rose by 2.6 cents a litre to 124.2 cents, while the regional average price rose by 0.7 cents to 125.1 cents.

“The glut of oil inventory on global markets is not putting downward pressure on prices,” Mr Sebastian said, adding traders and investors were focussed on the recovery story.

Even a strong Australian dollar has not been able to significantly absorb the rally in oil prices.

This resulted in the benchmark for Australian unleaded petrol – the Singapore gasoline price – rising to a 10-month high of $99.70 from $97.33 in the past week.

“If there is any consolation for motorists, it is that the rise in pump prices is likely to be rather sedate,” Mr Sebastian said.

“The petrol price will rise over the next fortnight, but only modestly, up around three to five cents a litre.”

Source  :  www.thewest.com.au

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Increases to Fees and Charges for 1 July 2009 for visa applications

Fees and charges are reviewed on 1 July each year.                                                                                                                                                                                                                               

 A number of Visa Application Charges (VACs) and other fees will increase on 1 July 2009 in accordance with recent decisions made by the Australian Government.

 A number of other VAC and fees will increase in accordance with changes in the Consumer Price Index, or in the case of the second instalment of the visa application charge for the Contributory Parent visa category, by the Contributory Parent Visa Composite Index.

Source  :  http://www.immi.gov.au/allforms/990i/increase-fees-charges.htm

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Hike in Visa Application Charges from Next Month

Intending visa applicants should move quickly if they wish to avoid the significant increases in Australian Visa Application Charges that come into effect on the 1st of July, 2009.

The Federal Budget was handed down last month, and included in the various Budget papers is reference to increases of 20% in VACs applicable to visas granted under the skilled migration program and the family program.

For example, the main VAC for general skilled visas is presently A$2,105. Intending skilled migrants can therefore anticipate a saving of more than $400 if they can submit a valid visa application before the end of this month (June 2009).

Cost savings of a similar sum are likely to be available to applicants for Spouse visas, Remaining Relative visas, and Business Skills visas.

It should also be noted that the requirements for the lodgment of valid visa applications are generally limited to the submission of the relevant visa application form, payment of the Visa Application Charge, and any other DIAC form as is applicable to the visa that is being applied for – plus a skills assessment classification letter where one is applying for an offshore general skilled visa.

In other words, other documentation in support of the application can be submitted later – and (we suggest) should be if a saving of more than A$400 is available.

If you are intending to move to Australia and would like to lodge your visa application quickly in an effort to save money please contact us. Go Matilda has many years of experience assisting with Australian visa applications, and can prepare application paperwork quickly in an effort to lodge a valid application so that you lock into this year’s Visa Application Charges.

Source  :  www.gomatilda.com 

Author:

Alan Collett

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