China eases exchange rate controls

CHINA has announced it will ease exchange rate controls that have been criticised by Washington and other trading partners as part of reforms aimed at making its economy more efficient.

The band in which the tightly controlled yuan is allowed to fluctuate each day against the US dollar will double in size but stay relatively narrow, allowing a 2 per cent change up or down.

The move, widely expected, adds to a steady drumbeat of policy changes announced as part of plans by the ruling Communist Party to give market forces a bigger role in the state-dominated economy.

Widening the trading band will help to "optimise the efficiency of capital allocation and market allocation of resources to accelerate economic development," said a central bank statement.

Washington and other governments complain Beijing suppresses the value of the yuan, unfairly making Chinese exports cheaper abroad and hurting foreign competitors.

Some US lawmakers have demanded punitive tariffs on Chinese goods if Beijing failed to ease controls, but successive American administrations have resisted imposing sanctions.

Allowing the yuan to rise in value would increase the buying power of Chinese households, helping to achieve the ruling party's goal of nurturing more sustainable economic growth based on domestic consumption instead of trade and investment.

Reform advocates say that by suppressing the yuan's value, Beijing has been forcing even poor households to subsidise exporters.

In recent weeks, the central bank has been guiding the yuan's exchange lower against the dollar in what analysts said was an effort to discourage speculators who are moving money into China to profit from the currency's rise.

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Liberals win majority government in Tassie

Over 360,000 Tasmanians will vote in 305 polling places from Hobart to King Island in Bass Strait. Source: AAP

IF only Will Hodgman's parents could have seen this.

Victorious Mr Hodgman and defeated opponent Lara Giddings united in wishing the father and mother of Tasmania's new premier had lived to see his election success.

Mr Hodgman's party swept to majority government in Saturday's poll, ending a Labor dynasty that began in 1998.

But it was another dynasty that was on many minds after Mr Hodgman lost his father Michael, a former Fraser government minister, last year after a long illness.

"I am envious that unlike (Ms Giddings) my parents are not able to see tonight," Mr Hodgman said.

Ms Giddings had earlier made a point of sympathising with her opponent.

"Having had the support of my family and the pride of my parents in what I have achieved ... I say to Will I'm only sorry for you that your father Michael and your mother Marian cannot be here," she said.

But the night belonged to the Hodgmans and the premier elect claimed victory at his second attempt with his English wife Nicky by his side, punching the air as he reached the podium.

"Tasmanians have voted for a change in direction and that is what we intend to deliver," Mr Hodgman said.

The 44-year-old father of three young children becomes Tasmania's 45th premier, and his family's first.

Michael Hodgman, known as "the mouth from the south" was also a state politician, while Will's grandfather Bill and uncle Peter were also members of parliament.

The Liberals looked likely to win 14 seats in the 25-seat parliament after four years of an ALP-Greens alliance.

Like last year's federal election, Mr Hodgman had campaigned on ending minority government and his party was rewarded with around 53 per cent of votes.

Under Tasmania's Hare-Clark system, which delivers five members per seat, the Liberals increased their number from two to three in the state's north, the same electorates that punished the ALP at last year's federal poll.

A 14 per cent swing left Labor with six seats, the Greens with two and three in doubt.

The Greens' vote plummeted in a swing of nearly 10 per cent, while the Palmer United Party looked likely to miss out after polling five per cent.

But in the popular vote it was a landslide, Mr Hodgman recording the highest personal tally of any candidate.

Ms Giddings paid tribute to Labor predecessors stretching back to the late Jim Bacon.

"Tasmania is more inclusive, Tasmania is more progressive, more dynamic and more culturally confident than we were back in 1998," she said.

With Ms Giddings absent from the Wrest Point tally room, the traditional jeering came from Liberal supporters as Greens leader Nick McKim took the podium.

Mr McKim said the past four years had proven the Greens were capable of stable and effective government.

"We've been in tougher places before and we've come right back from there," he said.

Ms Giddings looked certain to hold her seat but Labor leadership hopeful David O'Byrne had a fight on his hands.

The pair share Mr Hodgman's electorate of Franklin, along with Mr McKim who was re-elected.

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SA election still too close to call

About one million people are set to cast their ballots to decide the next state government of SA. Source: AAP

THE South Australian election is neck and neck with almost a quarter of the vote counted, as swings varied widely across the state.

The early results had both Labor and Liberals winning 19 seats each in the 47-seat parliament with two others also likely to remain in the hands of independents.

That left seven in doubt with opposition leading in several of those but Labor looking set to win the inner suburban seat of Adelaide from the Liberals.

On the primary statewide vote the swing to the opposition was three per cent with the swing away from Labor 1.6 per cent.

Going into the election the Liberals needed to pick up six seats to govern in their own right or at least three to have any chance of forming a minority government.

Labor held six of its seats on a margin of 2.7 per cent or less.

Despite the result remaining in doubt, Labor looks set to lose a number of ministers even if they can hang onto government.

Transport Services Minister Chloe Fox in Bright and Employment Minister Grace Portolesi in Hartley were both in trouble while Manufacturing Minister Tom Kenyon was behind early but could hang on.

Labor was also trailing in a number of other seats including the seat of Ashford, but was leading in Elder where the Liberals accused the government of a racist slur against their candidate Carolyn Habib by distributing a pamphlet which just featured her surname on the cover.

Earlier today Premier Jay Weatherill said he expected the result to be close with the election to be decided in a number of key seats.

"Obviously there are a range of seats that are going to be battleground seats. A large number of them this time," he said.

With the count so close a hung parliament also remained on the cards.

Mr Weatherill said he was focussed on winning a majority of seats, while Liberal leader Steven Marshall said the opposition had not ruled out forming a minority government.

"I've never ruled that out but I do say that it would be great for a government to govern in their own right here in South Australia," Mr Marshall said.

Just over 1.1 million South Australians were enrolled to vote.

About 70,000 of those cast their ballots early at voting centres across the state with about 86,000 people also expected to lodge postal votes.

Those votes could ultimately prove crucial.

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Stormy weather moves through Vic

STORMS have swept through Victoria, bringing down trees and causing damage to homes.

The Bureau of Meteorology issued a severe thunderstorm alert on Saturday, warning that damaging winds, heavy rainfall and large hailstones were likely to affect parts of the state.

The State Emergency Service said so far 80 calls for assistance had been received, mainly from greater metropolitan Melbourne, and coastal areas such as Chelsea and Frankston.

Residents in state's northeast and northwest have also contacted emergency services.

Many of the calls relate to fallen trees and roof tiles coming away from residential properties, causing minor leaks and flood damage to homes, the SES said.

Bureau of Meteorology duty forecaster Stephen King said Saturday evening's storm activity would extend up from the metropolitan area up through central Victoria towards Bendigo and Echuca.

The bureau's severe thunderstorm warning currently applies to Northern Country, North Central, North East, West and South Gippsland and parts of the Central and East Gippsland.

An earlier severe thunderstorm warning for Melbourne has now been cancelled as the immediate threat has passed.

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Gorgon could be delayed until 2016

AUSTRALIA'S largest gas project Gorgon could be delayed until at least 2016 as joint venture partners Chevron and Shell differ on the expected start-up date.

It follows a series of delays and cost blowouts to the massive $US54 billion ($A60.02 billion) liquefied natural gas (LNG) project in north Western Australia.

Shell chief executive Ben Van Beurden presented a table to analysts overnight showing the estimated start-up date for the massive 450 million ton project had been pushed back to between 2016 to 2018.

Shell's presentation in London contradicts lead partner's Chevron's assurances that the project is on track to begin in mid-2015.

Chevron this week reiterated its start-up date for first gas next year.

In December last year, Chevron pushed back the time-frame from the first quarter of 2015 and announced the cost of the project had blown out by $US2 billion to $US54 billion.

A spokeswoman for Royal Dutch Shell, which has a 25 per cent stake in Gorgon, referred questions about the start-up time to Chevron.

The original budgeted cost of Gorgon was $US37 billion when it was given the green light in 2009.

Earlier this week, Chevron said Gorgon was almost 80 per cent complete, with two thirds of the gas already committed to buyers.

Offshore pipelaying was now complete and 65 per cent of the LNG from Gorgon had been committed under long-term contracts.

Mr Beurden also reaffirmed the company's $US15 billion target for asset sales over 2014-15 but made no mention of whether it would include a sell down of its stake in Perth-based Woodside Petroleum.

Royal Dutch Shell, a joint venture partner in Woodside's Browse project in Western Australia, has previously indicated it will begin an asset sales program.

Analysts predict Shell could reap $US6.95 ($A7.82) billion by selling its 23.1 per cent interest in Woodside.

Mr Beurden said the company had already announced more than $US4.5 billion of asset sales, including equity in the Wheatstone LNG stake and downstream businesses in Australia.

"There are more divestments to come reaching an expected $US15 billion for 2014 and 2015 combined," Mr Beurden told analysts.

Shell also said start-up for its 110 million ton Prelude floating LNG project would be between 2016 2018.

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Indigenous concerned about Cape York plan

TRADITIONAL owners on Queensland's Cape York say they need more time to consider the government's 20-year plan for the peninsula.

About 10 indigenous groups say they want the March 25 deadline for submissions on the Cape York regional plan extended because of the significance of the plan.

The draft, released in November, outlines future land use for the region - mapping areas where development may be considered and areas of high environmental value.

Laura traditional owner Desmond Tayley says indigenous land owners, who will be affected most by the land use changes, weren't consulted before the draft was drawn up.

"This could be one of the biggest plans that affects how we do business on Cape York," he told AAP on Friday.

"The cultural heritage aspects are not really recognised in this plan ... the traditional owners and land owners have never really been consulted."

Mr Tayley says although the government spoke with Cape York councils, this didn't necessarily mean traditional owners were consulted.

He also wants similar protections offered to the Steve Irwin Wildlife Reserve, where mining has been banned, extended to include rock art sites in and around Laura.

Traditional owners from Western Yalanji, Mapoon, Pormpuraaw, Archer Point, Olkola, Lockhardt River, Chuula, Batavia Downs and the Wenlock Catchment Group have also expressed concern.

Deputy Premier Jeff Seeney says the draft plan was developed in close consultation with traditional owners and discussions will extend beyond the official March 25 deadline.

"The Queensland government is prepared to take as long as is necessary to get this plan right," he said in a statement.

"I can reassure communities on the Cape that all their submissions and comments will be considered in finalisation of the plan."

The 28 members of the Cape York Regional Planning Committee includes MPs, mayors, green groups and resource sector representatives.

The government has said the plan encourages economic growth, while green groups say it opens up vast areas of the cape to mining.

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Vic MP recovering after surgery

A VICTORIAN MP who underwent surgery to remove a cancerous tumour is now on the road to recovery.

The member for Carrum, Donna Bauer, had surgery last Saturday to remove a large growth that was discovered during a routine medical check.

Doctors are confident that the tumour, which turned out to be an aggressive localised cancer, has been contained and successfully removed.

As a safeguard, Mrs Bauer will undergo a six-month course of chemotherapy.

The MP has assured constituents that her office remains open for business and she has thanked the community for their support.

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Jakarta governor to run for president

INDONESIA'S main opposition party has nominated popular Jakarta governor Joko Widodo as its candidate for July's presidential election.

"To the people of Indonesia, please give your support to Mr Joko Widodo as the candidate of the Indonesian Democratic Party of Struggle," the party's deputy chairwoman Puan Maharani, daughter of former president Megawati Sukarnoputri, said at a press conference.

Recent polls suggest that Widodo, a former furniture businessman and mayor of Solo in Central Java province, would win the election if it were held now.

Widodo rose to political prominence as Solo mayor thanks to his hands-on leadership style and programmes including free healthcare and education.

As governor, he has a reputation for paying frequent visits to Jakarta's slums, and is known for riding a bicycle to work.

"I have been given a mandate by PDI-P chairwoman Madam Megawati Sukarnoputri to be the presidential candidate of PDI Perjuangan," Widodo said during a visit to a Jakarta neighbourhood.

Analysts say the party is hoping Widodo's nomination will boost its support in the April 9 legislative elections.

The popularity of the ruling Democratic Party, led by President Susilo Bambang Yudhoyono, has been declining following a series of corruption scandals.

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Qld and Texas now sister states

Qld Premier Campbell Newman has opened a new office in Texas to boost economic ties with the US. Source: AAP

QUEENSLAND the Sunshine State has reached out to Texas, the Lone Star State.

Premier Campbell Newman has travelled from Australia's far north to America's deep south to meet with Texas Governor Rick Perry - a former Republican presidential contender - to formalise a sister state agreement.

The pair also opened the Queensland government's new North America Trade and Investment office in Houston, the largest city in Texas.

"This new office is the beginning of a new era for the state's business relationship with the US," Mr Newman said in a statement on Thursday.

It's hoped the new relationship will boost Queensland-US trade, which is valued at $6.4 billion.

"Texas shares many similarities with Queensland's four pillar economy of resources agriculture, tourism and construction industries - so the opportunities for increased trade are enormous," Mr Newman said.

Mr Newman was also due to meet with energy companies to discuss shale gas extraction technology.

The Queensland premier also headed to the United States's largest rodeo on the final leg of his US tour, which has also visited Los Angeles and New York.

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Sydney man's alleged killer to front court

Sydney real estate agent, Vissa Esan, 48, has been stabbed to death on the way to work. Source: AAP

A MAN has been charged over the alleged stabbing murder of Sydney real estate agent Vissa Esan.

Police say the 47-year-old Aussie Unity Real Estate owner was confronted inside his Pendle Hills office about 7.45am (AEDT) on Thursday.

It's alleged Mr Esan, whose wife is expecting their first baby, was knifed in the chest.

He was rushed to Westmead Hospital but died a short time later.

A 33-year-old was arrested nearby and has now been charged with murder.

The man was refused bail to appear in Fairfield Local Court on Friday.

A large crowd of local business people, residents and Mr Esan's distraught colleagues gathered near the crime scene on Thursday.

They said the Sri Lankan-born businessman migrated to Australia about 20 years ago and lived in Kellyville.

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