The Centralian advocate Fri 4 Sep 2015
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Community newspapers -- Northern Territory -- Alice Springs; Tennant Creek (N.T.) -- Newspapers; Alice Springs (N.T.) -- Newspapers.; Australia, Central -- Newspapers
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Nationwide News Pty. Limited
FRIDAY SEPTEMBER 4 2015 BUSINESS 35 V1 - CAVE01Z01MA AUSTRALIAS economy expanded at its slowest quarterly pace for more than two years as mining and construction activity fell and exports declined, data showed Wednesday, hit by weakening growth in its biggest trading partner China. Economic growth expanded by a slower-than-expected 0.2 per cent in April to June, taking the annual rate of expansion to 2.0 per cent. The latest figures, which follow strong 0.9 per cent growth in the first quarter, were softer than analysts expectations of June quarter growth of 0.4 per cent for yearon-year growth of 2.2 per cent. The Australian dollar, which was hovering around 70 US cents early Wednesday morning, briefly slipped by half a US cent to 69.95 US cents. Its a twisted economy right now, the National Australia Bank senior economist David de Garis said. It is making some economic progress, but in a still difficult environment. We know the economy has been growing slower as the resources sector has slowed down and of course the termsof-trade effect on income growth as well. Mining production fell significantly by 3 per cent for the quarter, although growth through the year was 2.1 per cent, the statistics bureau said, adding that the weaker data came as exports also fell. Net exports detracted from GDP growth by 0.6 percentage points for the three months. Economy growing, but slowly In positive news, household spending supported growth, lifting by 0.5 per cent for the period, while government expenditure jumped 2.2 per cent. Australia has struggled to transition away from mining-driven growth fuelled by a boom in resources investment. The economy has avoided recession for more than two decades, but over the past year non-mining industries have failed to fill the gap left by the resources sector. Treasurer Joe Hockey insists the latest growth figures are in line with his Budget forecasts and come at a time when other commoditybased countries are in recession. The diversity and flexibility of the modern Australian economy is continuing to get us through the recent massive falls in commodity prices, Mr Hockey told reporters in Sydney on Wednesday. The Treasurer cited a number of one-off factors, including a 7 per cent fall in mining exports because of port closures forced by bad weather, for the worse than-expected growth figure. Mr Hockey said business confidence had picked up since the May Budget, with conditions outside the mining sector at their highest levels in almost five years. I tell you what, the Australian economy is showing a deep resilience that people in Canada and elsewhere would die for, he said. Canada this week reported it had officially fallen into recession. On Tuesday, the Reserve Bank of Australia kept interest rates at a recordlow 2 per cent to support growth. AAP Treasurer Joe Hockey. DEVELOPMENT of the Remote Food Solutions business model took eight years, but has recently resulted in three new bakeries being installed across remote Central Australia. Director Darren Clark, who also runs Wicked Kneads in the Coles complex, launched the company in February. And since then hes set up businesses and trained staff in Hermannsburg, Yuendumu and lately in Papunya. The final part of seeing the remote bakeries through to fruition Wicked Kneads & Remote Food Solutions director Darren Clark in Alice Springs. Picture: JUSTIN KENNEDY Darren fills market knead hasnt been as challenging as Mr Clark expected. Weve partnered with good management teams within the stores on each community, which has made my job and my companys job a lot easier, he said. Core staff are employed at each store, and Mr Clark is soon to pay the communities another visit to deliver accredited training to 12 participants in each location. Mr Clark said the products were custom-made for the communities, with German rye and sourdough on offer, and reduced sodium in pies and pastries. Theyre all high-fibre products, even the white bread is healthier than normal white bread, Mr Clark said. Seeing the communities residents able to buy fresh products, coffee and even birthday cakes is one rewarding achievement, but Mr Clark believes hes proving economic development can be created on remote communities. A lot of blood sweat and tears has gone in to trying to get it off the ground so to see it happen has been the most rewarding thing Ive ever done in my life actually, he said. Andrea Johnston Dairy farm for Harvey Returns weaker for Future Fund FUTURE Fund chair Peter Costello says returns wont be as strong as recent years as global central banks move to unwind low interest rates settings. The fund, set up to meet Commonwealth superannuation liabilities, posted a return of 15.4 per cent for the 2014-15 financial year, generating $15.6 billion.HARVEY Normans acquisition of a stake in a dairy farm may be mystifying for some, but not for executive chairman Gerry Harvey. The homewares retailer has agreed to pay $34 million for a 49.9 per cent stake in Victorian dairy company Coomboona which owns land and farm assets in northern Victorias Goulburn Valley. The business includes dairy farm operations, along with a pedigree breeding and genetics division. Harvey Norman gave no explanation for its interest in Coomboona in its ASX notice. But billionaire Gerry Harvey told The Australian the investment reflected the tough times in the retailing sector. You have got to look around to try to find out where you can put your money and try and make some money, Mr Harvey said. Its not that bloody easy. Licenced Agent # AL891 Located at 3/28 Railway Terrace PH: 89 522 849 FAX: 89 527 724 E-mail: email@example.com Website: www.prestigealice.com.au 51 Sienna Apartments: Renovated 1 bed 1 bath furnished unit w/split aircon, electric cooking, single c/port, pool in complex. Rent includes electricity. $310p/w 1/5 Cycad Pl: Colourful 2 bed, 1 bath unfurn townhouse. Both bedrooms w/carpet, fans, blinds & BIRs. Tiled open plan living/dining. Renovated bathroom w/sep shower to bath & toilet incl. Kitchen w/electric cooking & dishwasher. Small courtyard. Single carport. Sorry no pets. $360p/w 88/111 Bloomfeld St: Practical 2 bed + study furnished town house. Main bedroom w/carpet, small balcony & BIRs. Tiled open plan living/dining. Kitchen w/electric cooking. Rear courtyard. Single carport. Sorry no pets. $350p/w Freshly painted 1 bedroom, 1 bathroom, partly furnished, top foor unit w/security screens t/out. Open plan living dining w/ split a/c. Bedroom w/BIR, carpet & Split a/c. Kitchen w/ electric cooking & fridge/freezer. Internal laundry w/washing machine incl. Off street parking. Sorry no pets. $280p/w 7/18 Undoolya Road: 32/111 Bloomfeld St: Homely 2 bed, 1 bath furnished town house. Both bedrooms w/carpet, blinds & BIRs. Tiled open plan living/dining. Kitchen w/ electric cooking. Rear patio courtyard. Single carport. Sorry no pets. $360p/w 36/111 Bloomfeld St: Tastefully renovated 2 bedroom unfrun townhouse w/split A/C t/out. Both bedrooms w/carpet, roller blinds & BIRs. Floor to ceiling tiled bathroom w/shower over bath, dual hand basins & toilet incl. Tiled open plan living/dining. Renovated kitchen w/electric cooking & pantry. Sep laundry. Rear paved veranda & single carport. Sorry no pets. $360p/w 41 Lackman Tce: Unique 4 bedroom family home w/ sep sunroom. 3 bedrooms w/carpet, blinds & BIRs. 4th Bedroom w/BIRs, fan, split A/C & curtains. Large open plan living/dining area. Kitchen w/gas cooktop, electric oven, dishwasher, breakfast bar & ample benchtop/cupboard space. Large powered shed. Single carport. Automatic reticulation. Gardener included. Pets Neg. $540p/w 1/6 Hong St: 3 bed, 1 bath ground level with security screens t/out. All main bedrooms offering carpet, split A/C and BIRs. Bath w/ dual hand basins, sep shower to bath, sep toilet & internal laundry. Sep living room w/ split A/C, carpet, blinds & access to side veranda. Kitchen with electric cooking, ample cupboard & benchtop space. Single c/port in front of unit. Sorry no pets. $460p/w Freshly painted, 2 bed, 1 bath unit. Both spacious bedrooms offer robes. Window shutters t/out. Split A/C in main & living. 2-way bathroom separate shower & bath, toilet incl. Spacious tiled living/ dining. Brand new kitchen w/electric cooking & breakfast bar. Private & fenced courtyard. Single carport. Sorry no pets. $360p/w 4/8 Patterson Cres:Open: Saturday, 1111.30am Contact Darren Munnich - 0427 272 720 21 Larapinta Drive Gillen Secure privately built home is easy walking distance from town with plenty to delight a new family. 3 double sized bedrooms all include built in robes Evaporative air conditioning runs throughout Large living area with gas outlet or wood-fred heater Backyard Shed, power, lighting & plenty of shelf space Plenty of established trees & garden Secure fence & automatic gates Inground saltwater swimming pool $479,500