Territory Stories

The Northern Territory news Wed 2 Feb 2011



The Northern Territory news Wed 2 Feb 2011

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NT news


The Northern Territory news; NewspaperNT




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Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin

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Nationwide News Pty. Limited

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Nationwide News Pty. Limited



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www.ntnews.com.au Wednesday, February 2, 2011. NT NEWS. 21 P U B : N T N E W S D A T E : 2 -F E B -2 0 1 1 P A G E : 2 1 C O L O R : C M Y K Slump in exports Aerial shots of first large offtake tanker at LNG terminal Darwin, Northern Territory, Australia The$5.9 billion decline wasmainly due to a 29.8 per cent fall in gas sales. BY NIGEL ADLAM TERRITORY exports slumped by 17.4 per cent in the last calendar year, the Federal Government said yesterday. The $5.9 billion decline was mainly due to a 29.8 per cent fall in gas sales. The NT has two working gas fields: BAYU-Undan in the Timor Sea pipes gas to a liquefied natural gas plant at Wickham Point on Darwin Harbour; and GAS from Blacktip in the Joseph Bonaparte Gulf is piped to the Channel Island power station, via Wadeye, to provide the Territorys electricity. ConocoPhillips, which operates the Wickham Point LNG plant, said any fall in production was due to a routine 30-day shutdown. Blacktip, which is owned by Italian company ENI, suffered supply disruption problems early last year. Mineral exports also fell last year. The 6 per cent drop was mainly due to lower manganese sales. Iron ore exports from the Frances Creek mine rose by more than 51 per cent. Pearls and gems crashed 37.6 per cent. The slump is believed to have been caused by the global financial crisis fewer people splurge on luxuries in hard economic times. The downturn in trade was partially offset by a 9.1 per cent increase in services. Western Australia went down $88.7 billion 3.7 per cent mainly because of lower gold, gas and wheat sales. Queensland exports declined by $52.1 billion 20.6 per cent mainly due to less revenue from coal sales. NSW sales fell $51.9 billion 13.8 per cent mainly due to lower coal sales. Victorias exports dipped $31.5 billion 4.6 per cent mainly due to a slump in car and dairy sales, and despite big rises in the wool trade. South Australia suffered a $10.2 billion drop 11.1 per cent mainly due to lower copper and wheat exports. Tasmanian overseas trade fell $3.4 billion 13.8 per cent mainly due to lower wood chip sales. The figures are contained in Aust ralias Trade by State and Territory 2009-10 which can be read at www.dfat.gov.au/publications/ stats-pubs/trade state and territory.html Business Week TERRITORY NATIONAL GLOBAL REAL ESTATE SHARES 22 NTNewsbucksgloomy forecast 24 Mid-weekreal estate 26 Low-downon temps WA raider swoops on Iizen By NIGEL ADLAM Jamie Myers and Matthew Baker A TERRITORY stockbroker is being taken over by one of the biggest firms in the country. Darwin-based Iizen Equities has been bought out by Patersons Securities, which is based in Perth and has 19 other branch offices. Matthew Baker and Jamie Myers will stay on. Mr Baker will return to his first love stockbroking and Mr Myers will be branch manager. Patersons is among the top five stockbroking companies in Austra lia. Their decision to move into Darwin is a great show of faith in the Territorys economy and future prospects, Mr Baker said. They want access to the next developing resource centre in Australia. Opportunities abound in the Territory. There are half a dozen oil and gas projects doing well. Mr Myers is a renowned share tipster. His Stock Sniper column in the NT Business Review which appears inside the NT News on the second Thursday of each month is a must-read for Territorians thinking of buying or selling shares. Many of his tips have been spectacularly successful. The company will change its name to Patersons but Mr Baker said that would not affect clients holdings or investment plans. Patersons was established in Western Australia in 1903. Chairman Michael Manford said the firm was delighted at the move. We are very excited to welcome two dynamic advisers who have a solid presence in the Darwin market, he said. We believe the Darwin office has the potential to grow strongly un der Patersons, especially given its access to our range of client services and investment opportunities. Mr Myers said: We feel Patersons is a great fit for our clients. MARKET SNAPSHOT CURRENCY WhatyourAussieDollarwas worthyesterday: BUY SELL USdollar 1.0269 0.9627 Canadian 1.0291 0.9432 UKSterling 0.6437 0.5959 Euro 0.7626 0.6903 NZDollar 1.3706 1.2349 HKDollar 8.1014 7.4070 Singapore 1.3377 1.1907 Yen 87.50 77.02 PNGKina 2.9660 2.1572 SARand 7.4862 6.5612 IndonRph Onapp 7872.51 SwissFr 1.0008 0.8915 Fijian 1.8827 1.6982 Philippine Onapp 39.04 Malaysian Onapp 2.7109 ThaiBaht 32.16 26.78 Ratesare for travellerschequesonly.Suppliedbythe CommonwealthBankasacommunityservice.Rates aresubject tochange. INTERESTRATES 30-Daybankbills 4.81% 60-Daybankbills 4.88% 90-Daybankbills 4.90% 180-Daybankbills 5.06% Unofficial cashrates: (11am) 4.75% INDICES LAST CHG AllOrds 4852.00 +2.00 S&P/ASX200 4752.10 1.80 S&P/ASXSmallOrds 2842.30 +13.50 DowJones 11891.93 0.0 Nasdaq100 2281.91 +11.4 HangSeng 23500.33 -116.69 S&P/ASX200 4753.9 21.00 Nikkei 10258.98 -101.36 FTSE-100 5862.94 -18.43 RESOURCES $US last CHG Gold 1331.7 -6.6 Silver 28.02/oz +0.11 Oil 90.96 +2.84 Copper 9720.0/t -47.50 Zinc 2334.0/t -75.00 Lead 2576.0/t -26.50 Aluminium 2320.0/t -192.75 Uranium 70.00/lb 2.00 ONTHEMONEY WARRENHOGAN Chiefeconomist ANZ There isnodoubt that in the short-termmeasuredas12-18 months, if somethinggoes wrong inChina, thiseconomy is going to feel it. STOCKTOWATCH ASCIANOLTD Ascianohassecureda longterm contract tohaula further3.5 million tonnesperannumofcoal forAngloAmericanMetallurgical CoalPtyLtd.