Wednesday , September 19 2018
Breaking News


Australian cruise season starts with a bang


The arrival of Princess Cruises’ Majestic Princess in Sydney last week marked the official start of the 2018-19 cruise season, one that promises to be the busiest yet for Australia’s ports. Looking at the main cruise lines, 2017’s Majestic Princess is one of 20 ships under the Carnival Australia umbrella to sail locally – it will be the newest and ... Read More »

New plans released of Cedar Wood’s 500-home, $160 million housing development in Port Adelaide


CEDAR Woods has released a new concept plan for its $160 million housing development on the Port Adelaide waterfront. The Australian developer is planning to build about 500 new homes – a mix of two and three-storey townhouses and low-rise apartments – at precincts known as Fletcher’s Slip and North West on the corner of the Causeway and Semaphore Rd, ... Read More »

Australian company charged life insurance premiums to dead clients


Australia’s biggest listed wealth manager AMP Ltd charged life insurance premiums to dead customers even after concerns over the practice were raised by a staff member, a powerful misconduct inquiry heard on Monday. The disclosures at the inquiry, called a Royal Commission, heaps further pressure on one of the country’s biggest financial institutions which previously revealed it had charged thousands ... Read More »

Australia failing to help long-term unemployed, report finds


Australia is on average spending less than half of what similar countries spend on employment services, just as the number of Newstart recipients who have been on the payment for more than five years hits 15%, a new report says. Amid continued debate about the rate of the Newstart payment, Faces of Unemployment, released on Friday by the Australian Council ... Read More »

Wollongong’s port can be the answer for the Australian cruise ship industry


Australia:In 2012, Councillor Leigh Colacino pulled me aside and told me he loved ships, big white ships, and he wanted to bring them to Wollongong. I didn’t know Cr Colacino very well at that time, but suffice to say, he is persistent. Next morning, my phone lights up, “what have you done about my idea?”. And so commenced our daily ... Read More »

In Amazon’s ‘hellscape’, workers face insecurity and crushing targets

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When Amazon sent its Australian website live in December, the global e-commerce giant promised it would bring millions of low-price products to consumers and create thousands of local jobs. “We hope to earn the trust and the custom of Australian shoppers in the years to come,” its country manager, Rocco Braeuniger, said at the time. By that stage Amazon – ... Read More »

Glencore-led Australian coal port wins court nod on $3.2 billion debt refinancing


SYDNEY:Australia’s Wiggins Island Coal Export Terminal obtained court approval on Tuesday for a $3.2 billion debt refinancing plan, offering respite to its owners who would have had to start repayments this month. The Queensland-based terminal, known as WICET, is 40 percent owned by miner and commodities trader Glencore (GLEN.L) and was built to service a consortium of eight coal companies ... Read More »

Australian Gladstone port’s coal exports hit 4-month low at 5.35 mil mt

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Sydney — Coal exports from Gladstone port in Australia’s Queensland state hit a four-month low in August as volumes to key destinations Japan and India fell while to South Korea remained strong, Gladstone Ports Corporation data showed Thursday. A total 5.35 million mt of mostly metallurgical coal was shipped from Gladstone in the month, down 10% year on year and ... Read More »

Australia to launch new Pacific security center from next year

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MELBOURNE:Australia will set up a center for strategic analysis of information to help the Pacific region tackle security threats such as illegal fishing, people smuggling and drug trafficking, its foreign minister said on Thursday. The center, to be established from mid-2019, is among a raft of measures Australia is adopting as it boosts security commitments in the region, where China’s ... Read More »

Conservatives back free movement between Canada, UK, Australia and New Zealand


The Conservative Party of Canada have adopted CANZUK, a free movement policy for citizens and trade between Canada, Australia, New Zealand, and the UK. A petition promoting freedom of movement between the countries has gathered almost 300,000 signatures to date, but this has been the first political recognition in Canada. “With the Conservative Party of Canada’s adoption of our proposals, ... Read More »

Australia-based company to gain control of Alaska gold mine


FAIRBANKS, ALASKA Ownership of a large gold mine southeast of Fairbanks is being transferred to an Australia-based gold mining company. The Fairbanks Daily News-Miner reports Japan-based Sumitomo Metal Mining Co. and Sumitomo Corp. are transferring full ownership of the underground mine in Delta Junction to Northern Star Resources Ltd., receiving $260 million in compensation for the transfer. Officials say the ... Read More »

Sellers must add eBay GST tax codes for sales to Australia


Australia:If you’re selling to Australia then there’s an important change you need to know about. eBay have started collecting GST (Goods and Services Tax – the equivalent to UK VAT) on all sales to Australia. There’s nothing that sellers need to do, eBay will automatically add 10% to cover the GST for any item is located outside Australia where the ... Read More »

China Australia relations in the spotlight, as port groups push for more action and less red tape


Australia:The new-look Federal Government should not abandon moves towards a “reset” with China or risk further political turmoil, a market consultant has warned, as some of the nation’s peak business lobbies meet in Darwin. Malcolm Turnbull’s gesture of conciliation to the Chinese Government earlier this month was a “promising development” according to Adam Handley, WA president of the Australia China ... Read More »

Sydney airport seizure of phone and laptop ‘alarming’, say privacy groups


Australia:A British-Australian citizen travelling through Sydney airport has had his devices seized, and believes his laptop password cracked and his digital files inspected by Border Force officers, in what privacy groups say is a worrying development. Nathan Hague, a 46-year-old software developer, was detained apparently at random for 90 minutes while the officers took his phone and password-protected laptop into ... Read More »

Australian homeware company Adairs alleged to have copied Kiwi artist’s design


Australia:A New Zealand designer is upset an Australian retailer is selling a Batman-themed children’s artwork almost identical to a design she conceived nearly four years ago. Friends of artist Maiko Nagao alerted her on Monday when they saw homeware retailer Adairs advertising its new Batman range, including an artwork she claims is virtually the same as her design. Nagao’s artwork ... Read More »

Norway to supply Australia’s first floating LNG import ship


Australian Industrial Energy has secured the country’s first floating LNG import ship which could help lift pressure on the forecast gas shortage in 2020. Norwegian firm Hoegh LNG – one of the largest global suppliers of floating regasification units – has signed an agreement with AIE to bring a floating import terminal to Port Kembla in NSW. This new agreement ... Read More »

Australia’s Treasury Wine toasts record profit, China custom delays ease


China:Australia’s Treasury Wine Estates Ltd , the world’s biggest listed winemaker, posted a forecast-beating record annual profit on Thursday as customs delays in China eased, offsetting sluggish U.S. sales. The result suggests the company’s problems in getting Australian products past Chinese docks have been a blip in its seemingly unstoppable push into the mainland market, rather than a protracted crisis ... Read More »

Forget empires: Australia’s company giants plan to shrink to greatness

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Australia:Defying a global spike in acquisitions, some of the country’s biggest and oldest companies are trying to shrink to greatness. Commonwealth Bank, Wesfarmers and Telstra are potentially spinning off assets collectively valued at $59.5 billion in as little as three years — more than the tally for the whole of the past decade. After lifetimes spent scaling up, these mainstays ... Read More »

Australia’s commonwealth bank annual net orofit slides 4%


Sydney:Australia’s biggest bank, the Commonwealth, posted a four percent slide in annual net profit Wednesday, capping a tumultuous year for the troubled lender which has been rocked by scandals and board upheaval. The country’s largest firm by market capitalisation reported Aus$9.37 billion (US$6.95 billion) in profit for the year to June 30. Cash profits, which are its preferred earnings measure, ... Read More »

Australian dollar at 1½-year low as Turkey worries rise

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Turkey:The Australian dollar fell to an 18-month low against the US dollar on Monday, as worries about an impending financial crisis in Turkey prompted selling in the currency with strategists warning of more downside ahead. The Australian dollar fell 1 per cent at the end of last week and stumbled again on Monday to trade at US72.83¢, a level not ... Read More »