- CNTV English - CCTV News

Australian business profits jump

08-31-2010 08:51 BJT

Watch Video

Play Video

Australian companies enjoyed the biggest boost in profits in a decade, last quarter. It was led by a record 63 percent jump in the mining industry, as strong Asian demand fueled sky-high prices for iron ore and coal.

Company gross operating profits climbed 18.9 percent in the second quarter, to reach 61.7 billion US dollars. That's compared to the first quarter when it increased by only 4 percent. The data doesn't even include profits in Australia's lucrative banking sector.

Analysts say more profits mean more investment, more jobs and higher wages. It will help boost GDP by supporting household consumption.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program