Thousands Evacuated as Floods Engulf Parts of Queensland

Feb. 6 (Bloomberg) -- Thousands of Australians fled their homes as floodwaters engulfed parts of the country's northeast, damaging properties and ravaging crops a year after natural disasters cost the economy about A$9 billion ($9.6 billion).

St George, a town of about 3,000 people located 500 kilometers (311 miles) west of the Queensland state capital, Brisbane, was being evacuated, a spokeswoman for the Queensland Police Service said by phone. The deluge may damage as much as 10 percent of the cotton crop in Australia, the world's third- biggest shipper, according to Olam International Ltd.