Tag: Region Oceania

  ASIC has launched court proceedings against two business lending specialists, Green County Pty Ltd and Max Funding Pty Ltd, alleging they issued personal loans without being licensed and without undertaking proper inquiries. ASIC has alleged Green County and Max Funding did not make reasonable inquiries about the purpose of loans, which led to Green County providing personal loans to…

Submarines are part of the AUKUS pact with the UK, which may also jointly develop a vessel with Australia.

  Leading aggregator Finsure Group has warned that the Reserve Bank of Australia is getting closer to the “tipping point” with its increases to official interest rates, noting how the central bank would need to be careful about inflicting further pain on mortgage holders. Finsure CEO Simon Bednar (pictured above) said the RBA needed to be more cautious about lifting…

  LONDON — Britain’s Ministry of Defence must rapidly grow local industrial capacity in order speed rebuilding weapon stockpiles, the parliamentary Defence Committee says in a report to be published Mar 7. The committee said at the current rate of progress it will take 10 years to replace weapon stocks gifted to Ukraine and rebuild British weapon numbers to an…

The number of people at risk of becoming mortgage prisoners in Australia has jumped by 42% since the Reserve Bank started lifting the cash rate, with NSW households struggling the most. This was according to new data from personal finance marketplace and advice company Compare Club. The data  was released ahead of the Reserve Bank’s March cash rate meeting, where…

Royal Park Investments (RPI), the so-called “bad bank” of the former Fortis, has filed a billion-dollar claim against rating agency S&P. De Tijd writes this and appears from media reports in the Cayman Islands, the place where the lawsuit was filed.

Japan has resumed imports of Russian oil after an eight-month hiatus in deliveries, S&P Global Platts reported this week, citing the country’s ministry of economics, trade and industry.

Australia has insisted it will keep US nuclear propulsion technology under tight lock and key after it gains access to sensitive information, with Canberra’s envoy to Washington pledging to safeguard America’s crown jewels.

Sean Colville Niven has been permanently banned from providing financial services and engaging in credit activities, after he was convicted in the Perth Magistrates Court for two counts of offences contrary to the Bankruptcy Act. The court found Niven guilty of making a declaration that he knew was false, and for disposing of property intending to defraud creditors.

Several banks are now offering super-long-term mortgages in response to soaring interest rates, but experts warned that the offers come with a $300,000 hidden cost. Forty-year mortgages are now being offered by banks, to supposedly help alleviate some of the pressure as surging interest rates force the average Australian to spend an additional $12,000 a year in mortgage repayments. But…

Co-hosts New Zealand and Australia said Thursday they “urgently” want answers from FIFA over reports Saudi Arabia’s tourist board will sponsor the 2023 Women’s World Cup. Visit Saudi is reportedly poised to be named among the sponsors of the 32-team soccer tournament to be held in New Zealand and Australia from July 20. The sponsorship deal looks set to go…

Home finance companies General Commercial Group Pty Ltd (formerly known as Urban Commercial Group) and Eden Capital (Australia) Pty Ltd (formerly known as Southside Lending) have each been penalised $50,000 by the Federal Court for failing to cooperate with the Australian Financial Complaints Authority (AFCA). General commercial director Dale Brendan Heremaia and his son, Eden Capital director Benjamin Eden Heremaia,…

  On 29 March 2022, Australia’s Minister for Foreign Affairs (the Minister) designated 39 individuals, including a number of Russian individuals engaged in serious corruption and human rights abuses, using the new powers set out in the Magnitsky sanctions amendments. Targeted financial sanctions and travel bans will apply to these persons from 30 March 2022.  This is the first time…