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RBA warns on home loans, rates on hold

RBA warns on home loans, rates on holdThe Reserve Bank of Australia has fired a stern warning at mortgage lenders, knowing any change to interest rates is a risk to fragile economic growth. The central bank held its benchmark interest rate steady at a record low of 1.5 per cent at its April board meeting on Tuesday, in line with the forecast in an AAP survey of 12 economists. RBA governor Philip Lowe is concerned soaring housing prices are pushing up the household debt to income ratio - which he said was already at a record high earlier this year.

Directors urge negative gearing cutback

The GST should be broadened and lifted to 15 per cent while negative gearing ought to be wound back, Australia's company directors say. Ahead of Treasurer Scott Morrison's second federal budget next month, the Australian Institute of Company Directors has called for major tax reform including boosting the rate of the GST, slashing personal income tax and reviewing negative gearing. The lobby group also argues for staged cuts in the corporate tax rate while questioning the federal government's recent advances in reducing the tax rate for businesses with a turnover up to $50 million.

Loan curbs no help on home prices: Moody's

New measures to restrict investor lending are unlikely to achieve their hoped-for goal of bringing down prices in Australia's surging housing market, ratings agency Moody's has warned. Moody's says recent steps taken by regulators the Australian Prudential Regulation Authority (APRA) and the Australian Securities Investments Commission (ASIC) to crimp investor lending and calm rampant house price growth are a positive for the stability of the banking sector.

Telstra denies it is taking back stores

Telstra denies it is taking back storesTelstra says it is not planning to take control of some of its high performing stores from long-standing retail partner Vita Group. Citing a leaked internal Telstra document, Fairfax Media has reported the telco giant has identified a number of stores it wants to bring back into its own retail network, including 11 that are operated by Vita Group. Shares in Vita Group, which operates 102 Telstra stores, dropped 21 per cent, or 68 cents, to $2.54 on Tuesday.

$A falls on RBA's house market warning

The Australian dollar has fallen to a three week low below 76 US cents after the Reserve Bank warned of the economic risks posed by rising household debt. The RBA kept the cash rate on hold as expected, ...

Mining Equipment and Tyres

Mining equipment and tyres can be found for sale on several online sale or auction sites. This, however, does not always transact well, with instances of incorrect or faulty goods being delivered and difficulties with refunds.Sinoprocur aims to provide a more tailored approach, which would normally commence initially with a brief from our client as to what is required, along with the expected budget. From there we may source for the client one or several options, depending on scope and availibility, and will discuss and examine each on it's merit.

Despite the financial landscape of the last couple of years, demand in some areas of mining procurement has not slowed at all, and has infact increased for some. There is talk that another 'trye crisis' could occur in the next two years and some clients appear to be buying up ahead in anticipation of this taking place. In line with this, we have now begun to re-examine remaining global availibility to ensure our own supply for clients remains consistent.

Sinoprocur has developed alliances with major traders and suppliers throughout Asia, Europe and the US. As a result, we can supply most forms of equipment as well as after market OTR tyre brands that include Belshina,Goodyear, Bridgestone and Michelin. Sinoprocur's philosophy is to source and secure product at a price and of a quality that will ensure repeat business and help develop our client relationships further.

For further information, please contact us on info@sinoprocur.com