Australia slashes wheat forecast
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Australia cuts its wheat forecast by 30% due to drought, with global wheat prices at record highs.
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Australian unemployment fell to a record low of 5.3 percent in October, prompting analysts to warn that the country's powerhouse economic performance could increase pressure to hike interest rates early next year.
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Newmont Mining Corp. NEM.N on   Wednesday cut its forecast for gold sales this year and next   because of a loss of business in Uzbekistan, lower output in   Ghana, and the sale of a Canadian unit.
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Australia's drought-hit farmers must embrace change to cope with climate change, including considering the increased use of genetically modified crops, Agriculture Minister Tony Burke said Thursday.
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The countryâs trade deficit narrowed in January as coal and manufacturing exports rose, signaling that growth may pick up in the Asia-Pacific regionâs fifth-largest economy. The trade shortfall narrowed to 876 million Australian dollars ($677 million) from 1.38 billion Australian dollars in December, the Bureau of Statistics reported. Exports rose 2 percent and imports dropped 1 percent. Total exports climbed to 18.12 billion Australian dollars in January. Farm exports like meat, sugar, wheat and wool declined 1 percent. Shipments of nonrural goods, which include minerals, increased 3 percent. Total imports fell to 18.99 billion Australian dollars from December. Imports of intermediate goods, which include fuel, decreased 1 percent.
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The Australian government Tuesday revised down its forecast for gross domestic product next year to 3 percent. In May, the government had projected GDP for the fiscal year ending June 30, 2005, to reach 3.5 percent.
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Tyson Foods Inc. TSN.N on Monday cut  its fiscal 2004 earnings forecast because of  weaker-than-expected demand for chicken and beef and  unexpectedly steep raw material costs.
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Campaigners in Australia warn that Aboriginal languages are declining at record levels.
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The Australians have adopted new policies this year: shutting down the on-site gambling window and shutting down on-site access to real-time Internet gambling Web sites.
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A thin winter green  carpets Australia&#39;s southeast hills and plains, camouflaging  the onset of a drought catastrophe in the nation&#39;s food bowl.
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Tyson Foods Inc. (TSN.N: Quote, Profile, Research) on Monday cut its earnings forecast after making a wrong bet on the direction of grain prices and demand for chicken
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Australia says it wants to phase out free plastic bags by the end of 2008, after a similar move by China.
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Australia&#39;s chief commodities forecaster, the Australian Bureau of Agriculture and Resource Economics, said Monday livestock exports will be nudged higher in the current economic year as overseas markets retain their appetite for Australian beef and lamb.
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The International Energy Agency cut its forecast for global oil demand, due to slowing economies.
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Indonesia ordered a nationwide security crackdown Thursday after Australia, Britain and New Zealand warned terrorists were preparing to attack ahead of Christmas.
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Australian Prime Minister John Howard has attacked a plan by US presidential candidate Barack Obama to withdraw troops from Iraq, saying it would lead to destabilisation around the world.
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Australia, one of the best-performing  advanced economies, faced looming economic turbulence from the  subprime lending meltdown in the United States, Prime Minister  John Howard warned on Sunday.