RBA pulls brakes as it closes in on zero interest rate

first_imgExperts including CBA believe RBA won’t move on rates again until February 2020 when it will drop the cash rate target to 0.5 per cent. Picture: Brendon Thorne/Getty Images.The Reserve Bank will hold off on any further cuts until February, as it slows Australia’s plunge towards an unprecedented zero interest rate in 2020.Two thirds of economists and experts in the latest Finder Cash Rate Survey believe RBA will keep its powder dry at Tuesday’s RBA board monetary policy meeting, opting instead for a February cut to a record low 0.5 per cent. One fifth think that rate cut will still happen this year at the RBA board meeting three weeks before Christmas. MORE: Property sales ramping up Holiday home of toilet brush pioneer for sale Upyards the new way of life More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:36Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:36 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhat do QLD buyers want?00:36center_img Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Finder insights manager Graham Cooke warned the RBA’s cuts have had little impact so far, “We’ve seen multiple references to the RBA firing blanks with these cuts and running out of bullets in the process. If true, it’s hard to believe that flogging the same horse will produce a different result,” he said.“The RBA has not spoken fondly about negative interest rates in other countries, so I’d expect extra cash to be printed before we see a zero or subzero cash rate.”Mr Cooke said “market behaviour is hugely driven by psychology and we need to be careful not to talk ourselves into a recession”. The Australian Stock Exchange RBA Rate Indicator has also swung strongly against a cut now. “As at 1 November, the ASX 30 Day Interbank Cash Rate Futures November 2019 contract was trading at 99.265, indicating a 7 per cent expectation of an interest rate decrease to 0.50 per cent at the next RBA Board meeting,” an ASX statement said.Michael Blythe, chief economist of one of Australia’s Big Four – the Commonwealth Bank – was among those favouring a February cut to 0.5 per cent.Mr Blythe said RBA already had three cuts “in the bag” this year and had a strong “belief that some aspects of UMP (Unconventional Monetary Policy), like negative rates, are ‘extraordinarily unlikely’”.“The market is questioning whether the terminal rate will in fact be 0.5 per cent or lower,” he said. FOLLOW SOPHIE FOSTER ON FACEBOOKlast_img read more

Holiday at home where kids will never be bored

first_imgThis Hoyts-inspired cinema at 19 Hardwood Court, Buderim is one of many attractions that make this home a perfect school holiday fun house.FROM quad bikes to quoits, when it comes to entertaining the kids these long summer holidays, a well set up family home could save your sanity.Even without children, these homes are so packed with entertainment options, you’d be hard pressed to find a reason to go out. A hidden cave, slide and waterfall are awaiting your attention these holidays at 19 Hardwood Court, Buderim.There’s quad bikes and a Hoyts -inspired cinema on offer in the Sunshine Coast hinterland, while 5km from the Brisbane CBD, you can hone your basketball and volleyball skills with your own outdoor hardcourt. FOLLOW US ON FACEBOOK New sales record as temperatures test auctioneers MORE REAL ESTATE STORIEScenter_img On a 6454sq m block tucked in Buderim on the Sunshine Coast, 19 Hardwood Court has been designed to mirror a seven-star Bali resort with seven bedrooms and entertainment options for all ages. The Buderim property from the air.Get active with a half-sized tennis court and basketball arena, or take a splash in one of two inground swimming pools with a 15m water slide, jumping rock and an outdoor TV entertaining area. One of two pools at 19 Hardwood Court, Buderim. This one has a waterfall, slide, and cave.Plan a movie marathon in the Hoyts-inspired cinema, or explore the running stream through tropical gardens. It’s not all about the kids, check out this master suite at 19 Hardwood Court, Buderim.Craig Porter of LJ Hooker Mooloolaba is selling Villa Asmara and is welcoming private viewings. Here’s the second pool at 19 Hardwood Court, and the far gazebo is an outdoor cinema.Only 5km from Brisbane’s CBD, active outdoor play is the theme at 130 Victoria St, Fairfield, where a large portion of the 802sq m block is devoted to an outdoor hardcourt. Plenty of room to keep those ball skills going over the school holidays at 130 Victoria St, FairfieldMore from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours agoWhether it’s basketball, netball, volleyball, soccer, cricket or badminton, the artificially-turfed and marked-out area is fenced off and ready to go, with double gate access to the road.Jane Elvin, of LJ Hooker Annerley/Yeronga, is selling the six-bedroom property which also has an inground pool and a triple garage.Back on the Sunshine Coast is 7 Acres at 36 Preston Rd, Diddillibah, which has enough manicured lawn space for a camp out beside the resort-style pool with a Bali hut. 7 Acres at 36 Preston Rd, Diddillibah.The four-bedroom, three-bathroom house has a bocce court, a dam and comes with a quad bike to explore the grounds. Anyone for bocce? Check out this bocce court at 36 Preston Rd, Diddillibah.Athena Law of Define Property Mooloolaba is selling the 2.71ha property for $1.35 million. Take a boat ride on your very own dam at Diddillibah. Cottage goes from blah to brilliantlast_img read more

Offshore Wind Innovation Hub Website Goes Live

first_imgThe Offshore Wind Innovation Hub (OWIH) has launched its new website which includes an evidence-based identification of UK offshore wind innovation priorities, supply chain growth opportunities and a view of the funding landscape.The Hub, and its first programme the Offshore Wind Innovation Exchange (OWIX), is backed by the UK’s Department for Business, Energy and Industrial Strategy (BEIS) and delivered jointly by the Offshore Renewable Energy (ORE) Catapult and Innovate UK’s Knowledge Transfer Network.The Hub’s website will act as the focal point for the UK offshore wind industry and the public sector – providing government and industry with evidence-based and validated information on the key innovation priorities within the sector and impact these can have.It will also provide information on the national and international funding programmes available for technology development and will build consortia of organisations who can collectively address the innovation priorities identified.“The OWIH has an important role to play in helping the UK’s technology-based businesses seize the tremendous opportunities in the offshore wind market,” Dr Stephen Wyatt, Research & Disruptive Innovation Director at ORE Catapult, said.”It will ensure that the UK’s world-class technologies and services remain at the forefront of innovation and are promoted internationally, further growing the UK’s leading global position in offshore wind. The OWIH and OWiX are critical tools in drawing new disruptive technologies into the sector from the UK’s most innovative companies, and in bringing industry together to align behind the sector’s innovation priorities.”last_img read more

Sirius Petroleum chief operating officer passes away

first_imgThe chief operating officer (COO) of Sirius Petroleum, a company focused on oil and gas exploration and development opportunities in Nigeria, has suddenly passed away.Sirius said on Thursday that the company’s COO Peter Gregory died suddenly while at home in the UK.Gregory was appointed as the COO of Sirius on April 12 and was given a primary responsibility to handle operations at the Ororo field. He was not a member of the main board but the company said it considered him as an important member of the operational management team.Chairman of Sirius, Jack Pryde, said: “Peter will be greatly missed by us all at Sirius as a work colleague and a personality with great energy and expertise who commanded much respect by each member of the team. Our very sincerest thoughts are with his family at this time.”“While the company does have depth in its operational management team and of course the considerable support of its group of operational partners, the board is taking immediate steps to put in place an experienced COO with the requisite skill set,” the company added.Gregory’s career spanned over 40 years of continuous service in drilling and operations in the oil and gas sector, holding senior operational drilling roles with several companies including Lasmo, Premier Oil, and BG Group.Over the last ten years, he held senior roles on projects around the world such as drilling engineering and management positions and as a head of drilling for three independent international oil companies.last_img read more

Global Offshore Wind Market Expected to Reach USD 57.2 Billion in 2022

first_imgAccording to a report at Zion Market Research, global offshore wind energy market size was valued at USD 20.3 billion in 2016 and is expected to reach USD 57.2 billion in 2022, growing at a CAGR of 16.2% between 2017 and 2022. Growing share of renewable energy is expected to drive the global offshore wind energy market share, the report says, with increasing awareness about climate change and technological development expected to further boost the market. On the other hand, factors listed as those that hamper the market growth are high costs, risks, and supply chain bottlenecks related to offshore wind energy projects.Europe dominated the global offshore wind energy market in 2016. Countries such as the UK, Germany, Denmark, Netherlands, Belgium, and Sweden among others are leading players in Europe offshore wind energy market.Asia Pacific came in second, after Europe, in terms of offshore wind energy cumulative installed capacity. China is the leading player in Asia Pacific offshore wind energy market, and that market is expected to grow at the fastest rate across the globe. Japan, South Korea, and India among others are expected to further boost the market during the forecast period, according to the report titled “Offshore Wind Energy Market (By Foundation Type: Monopile, Jacket, Tripod, and Floating; and By Water Depth: Shallow Water and Deep Water): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”.The U.S. is also expected to witness numerous offshore wind energy projects during the forecast period.Some other countries including Finland, Ireland, Spain, Norway, and Portugal are also expected to boost the global offshore wind energy market during the forecast period.last_img read more

Is There Room for Consolidation in the Dry Bulk Industry?

first_imgConsolidation through mergers and acquisitions has been a very prominent trend in the container shipping industry, and more recently the tanker sector. Liner majors such as Maersk Line, Hapag-Lloyd and CMA CGM have already availed of the opportunity to bolster their fleets and reap the benefits.Nevertheless, there are opposite opinions when it comes to consolidation in the dry bulk shipping industry.“At least five fleet consolidations will take place within the next twelve months,” Robert Bugbee, President of Scorpio Bulkers, said while speaking in a panel discussion on the dry bulk shipping industry organized by CapitalLink.At least three of these are expected to take place by June, Bugbee added, without specifying details of the companies that might turn to such a move.As explained, the consolidation is ready to happen in the dry bulk as well, especially taking into account the fact that providers of capital have expressed their preference of giving capital to larger companies rather than smaller market players. As a result, a number of companies in the market are considering joining forces and have launched discussions with counterparts and investment bankers.On the other hand, Polys Hajioannou, Chairman and CEO of Safe Bulkers, doesn’t believe there will be much consolidation in the dry bulk sector.“Each company has is own ideas and policies, and I don’t see many companies out there that could come together and make a meaningful contribution through consolidation,” Hajioannou said.The example of Fredriksen Group acquiring Quintana last year was an exception and had a good timing, according to Hajioannou. However, the deal is not likely to usher in a trend in the industry, he explains.The forecasts are being made as the dry bulk sector emerges from the historically low point in the shipping cycle driven by higher demand for dry bulk cargo originating from China and Brazil. The fundamentals on the supply side have also reached a good point, especially due to the yard availability constraints that are expected to keep ordering activity at bay.World Maritime News Stafflast_img read more

NSRI Moves to Branch Out with New Board Members

first_imgThe National Subsea Research Initiative (NSRI) has elected two new board members as it looks to expand its capabilities in the growing renewables, mining, defence and aquaculture sectors.Following a strategic review, NSRI identified the need to restructure in order to reflect the global energy transition.Although still heavily focused on the oil and gas market, the organisation will be looking to enhance its offerings to better support other offshore sectors.Simon Cheeseman, of the ORE Catapult and Claus Hjoerringgaard of Wood Clean Energy have joined the board of NSRI to support the organisation’s plans to support UK companies break into multiple energy markets.Under the leadership of NSRI chairman, Peter Blake, the newly elected board members should ensure the organisation continues to foster strong links with the UK supply chain and academia to address the technology needs of the current and future energy mix.Blake, commented: “With our new board in place, our main focus for 2018 is to ensure that we continue to help companies and developers overcome the barriers of diversification to make their mark in the wider offshore sector. While oil and gas is likely to hold strong and dominate the global energy supply for years to come, subsea companies also need to look at how they can adapt and expand their presence across multiple markets.”last_img read more

Neptune Energy Advances Toward Cara Subsea Tieback FID

first_imgNeptune Energy and its licence partners have submitted the ‘Decision to Continue’ report for the Cara project to the Norwegian Ministry of Petroleum and Energy. The licence partnership will now progress its technical and economic plan before making a final investment decision early in 2019.Based on the proposed plan, hydrocarbons from the Cara reservoir will be developed with a four-slot subsea template tied back to the Neptune Energy-operated Gjøa platform for processing and export. Gjøa will also provide gas lift to the field. A tieback to existing infrastructure will ensure that maximum value from the field is unlocked.The Cara field is located six kilometers northeast of the Gjøa field and about 60 kilometers of mainland Florø. Cara is expected to yield between 56-94 million barrels of oil equivalent, in the range of 9-15 million standard cubic meters (MSm3).Anne Botne, country director for Neptune Energy in Norway, said: “Moving into the next phase of the plan is a signal that Neptune Energy is committed to Norway in the long-term. This is our second operated development project on the Norwegian Continental Shelf after Fenja in the Norwegian Sea, and we are using our experience and resources to calibrate the concept for Cara.“We have selected the most economically robust solution for the field and will now work closely with our partners in the coming months to design a plan that will take Cara forward.”Several studies will now be completed before the final investment decision and the plan for development and operation (PDO) can be submitted to the Norwegian Ministry of Petroleum and Energy in the first quarter of 2019.Cara was discovered in 2016 and is situated in PL636 in the Norwegian North Sea. The discovery well, 36/7-4, was drilled by Transocean Arctic and proved oil and gas in Agat formation. License partners in PL 636 are Neptune Energy (30 per cent and Operator), Idemitsu Petroleum Norge AS (30 per cent), Pandion Energy AS (20 per cent) and Wellesley Petroleum AS (20 per cent).last_img read more

Notice of order for Leiv Eiriksson rig following safety audit

first_imgNorwegian offshore safety body, the Petroleum Safety Authority (PSA), has given a notice of order to Ocean Rig regarding the working environment and emergency preparedness on the Leiv Eiriksson rig.Ocean Rig’s Leiv Eiriksson semi-sub / Image by Lundin PetroleumThe PSA said on Thursday that the notice of order was given to Ocean Rig following an audit, conducted from December 6-13, of the management of the working environment and emergency preparedness, the helideck, and the working environment on the Leiv Eiriksson rig.To remind, Ocean Rig was taken over by Transocean following a $2.7 billion acquisition deal in December 2018.The safety body added on Thursday that it identified extensive breaches of regulations and that it issued Ocean Rig with a notification of order.The audit showed that Ocean Rig exercised defective systematic management of the working environment and emergency preparedness for the Leiv Eiriksson semi-submersible drilling rig.Also, findings and deficiencies from a previous audit of emergency preparedness regarding the helideck and the working environment were not fully followed up or rectified. Notice of orderThe audit identified nine regulatory non-conformities linked to oversight and control of working environment risk; prioritization, implementation and follow-up of measures; noise exposure harmful to hearing; and follow-up of the working environment for contractors.The other non-conformities included system for training and competence, evacuation routes, float-free function for forward rafts, lighting in lifeboats, and personal protective equipment (MOB suits).PSA also said that the Norwegian Civil Aviation Authority identified a number of non-conformities and remarks concerning the helideck. The findings mainly related to obstacle conditions, the view from the helideck control station to the helideck, and training of the helideck crew.Based on the observations during the audit, Ocean Rig was given a notice of order. According to the notification, Ocean Rig is ordered to review the company’s management system for the working environment and emergency preparedness and associated work processes, which is intended to safeguard competence, surveys, risk assessments, rectification of faults and deficiencies, and improvements.The work should include an analysis of why defects related to management of the working environment and emergency preparedness were not identified and corrected.A time-delimited schedule for complying with the order shall be sent to the PSA by April 12, 2019. The schedule should describe how this work would be performed and followed up and when the order would be complied with.The PSA added that it must be notified when the order is carried out.last_img read more

Age of First Sexual Experience Predicts Romantic Outcomes in Adulthood

first_imgScienceDaily Oct. 17, 2012It’s a common lament among parents: Kids are growing up too fast these days. Parents worry about their kids getting involved in all kinds of risky behavior, but they worry especially about their kids’ forays into sexual relationships. And research suggests that there may be cause for concern, as timing of sexual development can have significant immediate consequences for adolescents’ physical and mental health.But what about long-term outcomes? How might early sexual initiation affect romantic relationships in adulthood?Psychological scientist Paige Harden of the University of Texas at Austin wanted to investigate whether the timing of sexual initiation in adolescence might predict romantic outcomes — such as whether people get married or live with their partners, how many romantic partners they’ve had, and whether they’re satisfied with their relationship — later in adulthood.To answer this question, Harden used data from the National Longitudinal Study on Adolescent Health to look at 1659 same-sex sibling pairs who were followed from adolescence (around 16) to young adulthood (around 29). Each sibling was classified as having an Early (younger than 15), On-Time (age 15-19), or Late (older than 19) first experience with sexual intercourse. Her findings are reported in a new research article published in Psychological Science, a journal of the Association for Psychological Science.As expected, later timing of first sexual experience was associated with higher educational attainment and higher household income in adulthood when compared with the Early and On-Time groups. Individuals who had a later first sexual experience were also less likely to be married and they had fewer romantic partners in adulthood.Among the participants who were married or living with a partner, later sexual initiation was associated with significantly lower levels of relationship dissatisfaction in adulthood. The association held up even after taking genetic and environmental factors into account and could not be explained by differences in adult educational attainment, income, or religiousness, or by adolescent differences in dating involvement, body mass index, or attractiveness.http://www.sciencedaily.com/releases/2012/10/121017131845.htmlast_img read more