Business News From The Land Down Under

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Australian business visa holders have always been keen in getting the latest business news from the country. After all, these would certainly affect their own transactions in some way or another. And with the many things that has been happening in the country's business scene,


For those in the telecommunications industry, one of the biggest buzz in the past few months was the transactions made by Telstra. If you are not familiar with the company, Telstra is the single largest telecommunications company in the country. In recent years, the company has undergone significant efforts to get into the international market. With that, it has acquired several foreign companies and expanded its operations.


One of these foreign companies is the internet service SouFun. SouFun is a Chines online company specializing in property advertisements. Telstra acquired the company in the early 2000's and has since operated it under Sensis, its wholly owned subsidiary. Just recently, Telstra announced that it is now putting SouFun up for its initial public. With this move, the telecoms company hopes to attract more investors.


On the other hand, the recent Australian elections have also had a significant effect on business in Australia if you might have recalled, the elections held last Aug. 21 resulted in a so called hung parliament, with both the Labor and Liberal Parties not being able to get a majority and form a government. With that, current Australian Prime Minister Julia Gillard will still continue her duties, though this time only as a care taker.


Because of the uncertainty about the possible course that the current government will take, businesses have aired their concerns about how these will affect their operations. One of the areas here that have been greatly affected by the events is the services sector. According to industry representatives, while its performance indeed rose by a few notches in the last few months, this one is still far from their target. However, they also said that it is not only the uncertainty in the government that is causing the problem. They also pointed out that the decreasing support from stimulus packages have also contributed on this one.


Another major news that has come out of the papers recently is the trade agreement between Australia and the European Union with regards to the wine industry. Under the new agreement, the EU will enforce strict trademark regulations to protect wine products coming out from their regions. However, the Australian wine industry is enthusiastic of the development, as it will also get the same amount of protection for its own products.



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