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AUSTRALIAN NEWSPAPER HIGHLIGHTS - MAY 1, 2008.

AsiaPulse News

| May 01, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, May 1 Asia Pulse - Highlights of today's newspapers:

THE AUSTRALIAN FINANCIAL REVIEW:

- A $13 billion cash bid to buy Origin Energy could see BG Group reshape eastern Australian gas markets. Sydney lawyer Paul Gregory will face tax evasion charges as part of ongoing investigations into a multi-million dollar offshore tax evasion scheme. Centro Properties Group chairman Brian Healey said news the company faced a $3.9 billion debt funding shortfall came as a bombshell to board members.

- A slide in credit growth is a sign the Reserve Bank is gaining traction in its effort to curb inflation.

- The Bank of Japan has reduced its economic growth forecast with the world's second-largest economy set to grow 1.5 per cent in the year ending March 31, down from an October estimate of 2.1 per cent.

- The sharemarket has recorded its first positive month of returns since October in a sign the worst of the global credit crisis has passed.

THE AUSTRALIAN:

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