Qantas''s low cost airline Jetstar carried 680,000 domestic passengers in January, up 12.8% on January 2007 while Jetstar International carried 149,000 passengers in January, up 65.7% on the 90,000 carried in the previous corresponding month. Qantas stock closed up 0.3%.

PT Bumi extends Herald Resource takeover offer

Indonesia''s largest coal miner PT Bumi Resources Tbk today announced the extension of its $444.8 million takeover offer for Australian zinc Herald Resources Ltd to April 18 from April 4.

Bumi said in a statement that the conditions contained within its bidder''s statement have not been fulfilled. It added that Herald shareholders who had accepted the offer had the right to withdraw their acceptance within one month of receiving Bumi''s statement.

Ten days ago, Bumi announced that it had not yet finalized debt funding to partially finance the bid, so it extended the deadline for execution of the debt facility to April 4.

Bumi said on March 11 that it was mulling over the future of its bid after Herald backed a rival $505 million offer by Indonesian state-controlled mining group PT Antam Tbk and Chinese government-backed miner Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd.

AWB share benefits from dismissal of lawsuit

Australia''s largest wheat exporter, AWB Ltd''s share gained 5.9% at the close of trade after a U.S. lawsuit that claimed the company depressed global prices after securing a monopoly in Iraq was dismissed.

U.S. Manhattan District Judge Gerard Lynch dismissed the lawsuit on March 25.

The lawsuit, which arose from probes of the United Nations'' Oil-for-Food program that showed that former AWB employees paid kickbacks to the former Iraqi regime of Saddam Hussein in exchange for sales, had sought class-action, or group status, on behalf of U.S. wheat growers.

The ruling gives temporary relief to AWB, which is still facing two remaining class action lawsuits in the U.S. relating to the Iraqi claims.

AWB was stripped in 2006 of its 67-year-old veto over wheat exports from Australia, the world''s sixth-largest exporter of the grain, following an independent inquiry.

Babcock & Brown courts banks to finance debt repayment

International investment and specialized fund and asset management group Babcock & Brown today announces that 25 banks, including all four of the largest banks in Australia, have formally committed to participate in an expansion of the corporate debt facility to $2.8 billion and approved the rollover of the facility to 2011.

In addition, Babcock & Brown had arranged $400 million in new infrastructure asset specific debt facilities, completed $220 million fixed price placement of shares.

Babcock share fell 5.3%.

Barrick Gold Corp to pay $35 million for stake in Allied Gold Ltd

Australian precious metal explorer Allied Gold Ltd today announced that Barrick Gold Corp, the world''s largest gold producer had agreed to pay $35 million for stakes in it and its Tabar Island Group project in Papua New Guinea.

In a statement to the Australian Stock Exchange, Allied said Barrick would pay $20 million for a 70% stake in its gold exploration project in the Pacific Island nation, in addition, Barrick would also pay $15 million for a 4.7% stake in Allied.

Australian property manager, Spotless Gold Ltd today made a $556 million hostile bid for Programmed Maintenance Services Ltd including painting and landscaping contracts.