Friday , November 16 2018
Breaking News

Australia

Two Crashes Don’t Spell Disaster in Australia’s Iron Ore Country

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Sydney : Australia’s $44 billion iron ore sector has suffered two rare train derailments in less than a week, scattering wagons into twisted wrecks in the rust-red earth of Western Australia. Even so, it’s little cause for wider alarm for the world’s top exporter of the steel-making ingredient, with the two cases in the vast state striking about 1,000 miles ... Read More »

Small business cheer $2b end to funding drought

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Sydney : Small business and non-bank lenders have endorsed the Morrison government’s plans to inject $2 billion into the small and medium enterprise loan market. But regulatory experts warned the government must avoid taking too much financial risk and not weaken bank rules in its quest to stimulate SME funding via a separate proposed bank-financed Australian Business Growth Fund. Banks ... Read More »

Australia’s Woolworths to sell petrol business to EG Group for $1.25 billion

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Sydney : Australia’s Woolworths Group Ltd (WOW.AX) on Friday said it will sell its petrol business to British petrol retailer EG Group for A$1.73 billion ($1.25 billion). The deal comes months after Australia’s largest supermarket operator canceled a A$1.8 billion sale of its petrol stations to British oil giant BP Plc (BP.L) after it was blocked by Australia’s antitrust regulator. ... Read More »

Cruise ship traffic at Port of Sydney continues to break records

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Sydney : The Port of Sydney has wrapped up another record-breaking season, with a total of 89 visits from cruise ships bringing tens of thousands of passengers to Cape Breton. The final two cruise ships for the year, the Insignia and Silver Wind, left Sydney harbour on Monday afternoon. Read More »

Business Events Australia launches magazine

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Sydney : Business Events Australia has today launched a new print magazine aimed at New Zealand incentive event planners. Australia Next will provide the latest news and ideas to help organisers plan Australian incentive programs. Penny Lion, executive general manager of events at Tourism Australia, said the publication contains relevant information as well as inspiration for incentive events. “New Zealand ... Read More »

Austal says hacker steals some data at its Australia business

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Sydney : Shipbuilder Austal Ltd said on Thursday its Australian business had detected and responded to a data breach in which some staff email addresses and mobile phone numbers were accessed. The breach, which affected the company’s data management systems, has had no impact on Austal’s ongoing operations, it said in a statement. The attacker tried to sell certain materials ... Read More »

NBA star Lamar Patterson stopped by Australian customs after flying with dog in hand luggage

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Sydney : Former NBA player Lamar Patterson had his French bulldog seized by notoriously strict Australian customs officials who found the animal stashed inside the athlete’s hand luggage. Patterson, who recently signed for the Brisbane Bullets, had the pooch – called Kobe – in his carry-on when he arrived in Australia on Thursday. Read More »

Australia is the latest country whose banks are planning to abandon London as Brexit looms

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Sydney : Australian banks with UK operations are beginning to put in motion plans to shift staff and other assets out of London as the possibility of a no-deal Brexit looms large in their thoughts. According to a story from the Financial Times on Monday, Australia’s largest bank by assets, Commonwealth Bank of Australia (CBA), has set in motion plans ... Read More »

Australia’s economic outlook is looking a whole lot gloomier

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Sydney : The positive momentum the Australian economy enjoyed in the first half of the year now looks to be reversing, and fast. Worryingly, the slowdown is being entirely driven by the services sector, the largest employer in the country. The Commonwealth Bank’s (CBA) “flash” Composite Purchasing Managers Index (PMI) for September, produced in conjunction with IHS Markit, dipped to ... Read More »

Head of $147 million smuggling ring lands in Sydney court

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SYDNEY, Australia – A 33-year-Taiwanese man appeared in a Sydney court on Friday after being extradited from the Netherlands, where he had been held since his arrest in June 2017. The man is considered by the Australian Federal Police to have been the organiser of a smuggling ring which brought $147 million worth of methamphetamine into Sydney in February 2014 ... Read More »

Australia backs hydrogen project to store renewable energy

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MELBOURNE:The Australian government said on Monday it would provide half the funding for the country’s biggest trial to produce hydrogen using solar and wind energy, which could then be used as a back-up for gas supplies. The A$15 million ($11 million) project is being run by gas pipeline company Jemena, which plans to build a 500 kilowatt electrolyser in western ... Read More »

ICTSI’s Australian terminal declared Port of Convenience at ITF Congress

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Sydney : The Victorian International Container Terminal (VICT) at Melbourne’s Webb Dock has been declared a Port of Convenience (PoC) by the International Transport Workers’ Federation (ITF) at its 44th Congress in Singapore. ITF president Paddy Crumlin said unions believe a fatal accident could be imminent at the VICT, with a number of serious safety-related incidents reported by the workforce ... Read More »

Australia’s unemployment rate at 5% after faster than expected fall

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Sydney :Australia’s unemployment rate is falling faster than anticipated, dropping sharply to 5% last month. The larger than expected decline in unemployment means the labour market is now meeting the Reserve Bank’s definition of “full employment”, the so-called non-accelerating-inflation rate of unemployment (NAIRU), though economists say it may still not be enough to spark noticeable wage rises. Figures show the ... Read More »

Port Hedland dust, health concerns forces Government to move on capping population

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The population around one of the world’s largest bulk-handling ports will be capped amid concerns about the public health impact of dust it creates. Western Australia’s Pilbara town of Port Hedland, with a population of nearly 14,000, exported 519 million tonnes of commodities in 2017, or up to two million tonnes every day. There have long been concerns about the ... Read More »

United Nations urges Australia to evacuate offshore refugees over health crisis

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MELBOURNE : The United Nations has asked Australia to urgently evacuate detainees from the Pacific islands of Nauru and Papua New Guinea, saying it bears responsibility for their deteriorating health conditions. Worsening mental health has left some of the children among the refugees in a “semi-comatose state”, unable to eat, drink or talk, humanitarian group Médecins Sans Frontières (MSF), which ... Read More »

Morrison vows to fast-track tax cuts for small business : at a cost of $3.2b

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Labor has not ruled out supporting the Morrison government’s plan to bring forward tax cuts for small and medium businesses by five years at a cost of $3.2bn. Under the plan, announced on Thursday, the government will lower the tax rate for businesses with an annual turnover of less than $50m from 27.5% to 25% by 2021-22 rather than from ... Read More »

Port Kembla LNG Import Terminal, New South Wales

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Sydney :Australian Industrial Energy (AIE) plans to develop a liquefied natural gas (LNG) terminal at Port Kembla in New South Wales (NSW), Australia. AIE is a consortium of Squadron Energy, Marubeni Corporation, and JERA. The LNG import terminal will the first in New South Wales and will be named Port Kembla Gas Terminal. It will be capable of supplying up ... Read More »

Australia Ditches ‘Tampon Tax’ After 18 Years of Outrage From Women’s Rights Groups

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Sydney :Australia will get rid of a divisive tax on tampons after state governments bowed to concerted pressure from Canberra and women’s rights groups. State treasurers in Australia agreed Wednesday to annul a 10% goods and services tax (GST) on tampons and other feminine hygiene products starting January 2019, Australia’s ABC News reports. The decision followed a nearly two decade-long ... Read More »

Australia’s jobs market is changing and Deutsche Bank thinks it’s time for wage inflation

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Sydney : There’s not been much joy for Australian workers when it comes to pay increases in recent years. In many instances, pay levels have actually gone backwards in real terms. Australia’s wage price index (WPI) — a measure of the average increase in hourly pay rates excluding bonuses — shows wages for private sector workers grew by just 1.99% ... Read More »

MacTel signs AU$1m NBN deal with Regional Australia Bank

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Sydney :Macquarie Telecom has announced signing a AU$1 million three-year deal to deliver business-grade National Broadband Network (NBN) services to Regional Australia Bank, saying it will increase network speeds by up to tenfold for the bank’s branches. Under the deal, MacTel will provide fibre connections for the bank’s 32 locations, including in Newcastle, Armidale, Dubbo, Bingara, Narromine, and Merriwa. According ... Read More »