Goldman Sachs’ China bear turns bullish
One of the nation's most powerful investment managers has changed its previous bearish view on the outlook for the Chinese economy, declaring that underlying levels of demand are very strong in sectors that are the biggest consumers of Australian resource commodities, according to The Australian.
Dion Hershan, head of Australian equities at Goldman Sachs Asset Management, said the group's recent analysis of “granular” data coming out of China made it more optimistic about the economic outlook compared to its position 12 months ago.
Iron ore exports sustain the boom
The size of Australia's iron ore export earnings continues to soar despite concerns about an end of the mining boom, according to a new report cited in the The Australian.
Iron ore is also racing ahead of coal and is tipped to have generated more than double the latter's revenue in the last quarter of 2013.
Chevron footprint grows on Barrow
Chevron will expand its footprint on the A-class nature reserve of Barrow Island by 10% as it looks for relief from the logistical issues that have plagued the company's $US54 billion ($60.3bn) Gorgon liquefied natural gas project, according to The Australian.
Western Australia's Environmental Protection Authority yesterday approved a plan by Chevron and its Gorgon partners to clear a further 32ha of land at Barrow Island, in addition to the existing 300ha that it was already permitted to disturb.
