Saturday, 03 December 2016 Sydney
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Invest In Australia News::

  • Global accelerator gives Australian startups a business boost

    One of the world’s leading startup support organisations, MassChallenge, has selected ten Australian startup teams as the winners of a national competition to participate in a workshop to be held in their Boston headquarters.  

    Supported by Microsoft and the Australian Government, the competition provided high-potential entrepreneurs the opportunity to pitch their innovative ideas for new technologies.

    The following ten winning teams were selected from a pool of over 200 Australian applicants:

  • ACCC welcomes Virgin Australia’s move to stop pre-selecting travel insurance

    Virgin Australia has stopped the pre-selection of travel insurance on its online booking platform following discussions with the Australian Competition and Consumer Commission.

    In a welcome change Virgin Australia’s customers will no longer have to ‘de-select’ travel insurance if they do not wish to purchase it. Instead, customers of Virgin Australia will select travel insurance if they wish to purchase it.

  • ACCC Takes Action Against MSY Alleging Misrepresentation Of Consumer Guarantees

    The Australian Competition and Consumer Commission has instituted proceedings in the Federal Court against MSY Technology Pty Ltd, MSY Group Pty Ltd, and M.S.Y. Technology (NSW) Pty Ltd (MSY Technology) alleging that MSY Technology has misrepresented consumers’ rights to remedies for faulty products.

    MSY Technology entities operate 28 retail stores across Australia and an online site which sells computers, computer parts, accessories, and electronic goods.

  • ACCC Will Not Oppose Quadrant's Proposed Acquisition Of Fitness First

    The Australian Competition and Consumer Commission will not oppose Quadrant Fund 5’s (Quadrant) proposed acquisition of Fitness First Asia Pacific Group Pty Ltd (Fitness First).

    Quadrant owns the Goodlife Health Clubs network (Goodlife) and is the head franchisor of the 24/7 gym chain Jetts Fitness (Jetts) in Australia. Fitness First, Goodlife and Jetts’ operations overlap in Victoria, New South Wales and Queensland.

  • A New Era Of Fairness And Productivity

    The passage of legislation clearing the way for the re-establishment of the Australian Building and Construction Commission (ABCC), along with the Security of Payments Working Group, marks a new era of fairness and productivity in the building sector, Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell said.

  • ACCC proposes to deny authorisation for banks to collectively bargain with and boycott Apple on Apple Pay

    The Australian Competition and Consumer Commission has issued a draft determination proposing, on balance, to deny authorisation to the Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank, and Bendigo and Adelaide Bank (the banks) to collectively bargain with and boycott Apple on Apple Pay.  

    The banks sought authorisation to bargain with Apple on two key issues:

  • Spike in Centrelink scams

    The Australian Competition and Consumer Commission is warning the community to be aware of phone calls from scammers pretending to be from the Department of Human Services or Centrelink.

    The ACCC’s Scamwatch has received over 2,200 reports of this scam since January, with more than $27,000 reported lost. Four individuals have reported losses of $1,000 or more. This is a significant increase from 2015, when there was $3,500 reported loss and 560 contacts.

  • Australian motorists benefit from a decrease in petrol prices

    The Australian Competition and Consumer Commission’s eighth report into the Australian petroleum industry has revealed a decrease in petrol prices in the quarter ending September 2016.

    Petrol prices in the five largest cities (i.e. Sydney, Melbourne, Brisbane, Adelaide, and Perth) decreased by 3.8 cents per litre (cpl) in the September quarter 2016 to 114.2 cpl. This is lower than the 118.0 cpl of the previous quarter and was 7.5 cpl lower than the annual average of 121.7 cpl in 2015-16.

  • Banks To Appear At ASBFEO Hearings

    Executives from the four major banks will this week attend hearings conducted by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell to gather information for the ASBFEO’s Small Business Loans Inquiry.

    Senior bank executives from ANZ, NAB, Westpac and the Commonwealth Bank have been summonsed to appear at the hearings – which will take place tomorrow, Tuesday 29th and Wednesday 30th November – and will be questioned on their practices in relation to small business lending.  The hearings will not canvas the specific and confidential details of individual cases.

  • More Australians are studying

    More people are studying than ever before, with one in five Australians aged 15 to 64 enrolled in a course in 2016, according to the latest figures from the Australian Bureau of Statistics (ABS).

    "In May of this year, it is estimated that more than three million people in that age range were engaged in some form of study, from school education through to university degrees," said Michelle Marquardt, Program Manager of Education, Crime and Culture branch at the ABS.

    The proportion of people studying has increased for all age groups and both sexes over the last 10 years. 

  • Sydney School of Entrepreneurship announced at TAFE NSW Ultimo campus

    Deputy Premier and Minister for Skills, John Barilaro, and Minister for Industry, Resources and Energy, Anthony Roberts, have announced TAFE NSW Ultimo campus as the location for the Sydney School of Entrepreneurship (SSE).

    The SSE is a unique partnership between 12 tertiary institutions (11 NSW universities and TAFE NSW) which was launched with a $25 million investment by the NSW Government.

    “Innovation is the cornerstone of jobs growth in NSW and we are embedding the SSE in TAFE so skilled students and upcoming entrepreneurs can access education, information and networks, placing NSW in a leading position, not just domestically, but also internationally,” said Mr Barilaro.

  • ON THE PATH TO ELIMINATING MALARIA

    Malaria kills more than 400,000 people each year, many of them children in Sub-Saharan Africa. Australian scientist David Fidock from Columbia University has uncovered the genetic basis for drug resistance in deadly malaria parasites, and is now working on new drugs that will aid the global effort to eradicate malaria once and for all.

  • ACCC takes action against Meriton over online reviews

    The Australian Competition and Consumer Commission has instituted proceedings in the Federal Court against Meriton Property Services Pty Ltd, trading as ‘Meriton Serviced Apartments’ (Meriton).

    The ACCC alleges that Meriton engaged in misleading or deceptive conduct in connection with the posting of reviews of its properties on the TripAdvisor website.

  • ACCC acts on fire hazard cigarettes

    The Australian Competition and Consumer Commission has accepted court enforceable undertakings from both Philip Morris Ltd (Philip Morris) and Zen Sensation Pty Ltd (Zen) not to supply cigarettes that do not meet the mandatory Reduced Fire Risk safety standard.

    Philip Morris has also agreed to donate $300,000 to the NSW Rural Fire Service.  

  • ACCC will not oppose Qube acquisition of AAT

    The Australian Competition and Consumer Commission has accepted court-enforceable undertakings that will allow the proposed acquisition by Qube Holdings Limited (Qube) (ASX: QUB) of the remaining 50 per cent of Australian Amalgamated Terminals Pty Ltd (AAT).

    Qube already owns 50 per cent of AAT and is acquiring the further stake from Brookfield Infrastructure Partners LP (Brookfield) and a group of global investment funds.

  • NSW Government helps grow Western Sydney businesses

    The NSW Government will host a series of important workshops in Western Sydney to teach local businesses how to win supply chain contracts.

    “We are determined to help Western Sydney businesses succeed and grow by supporting them develop their skills in procuring tender contracts,” Minister for Industry, Resources and Energy, Anthony Roberts, said.

    The Department of Industry will hold three fully funded “supply chain workshops” in Kingswood (29 November), Parramatta (30 November) and Liverpool (7 December).

  • Investment - Working in the national interest

    Mr Speaker, I have the honour to present the Coalition's third Investment Statement to the Parliament.

    This annual statement is to update the Parliament – and the Australian people – on our work promoting Australia as a place for productive foreign investment.

    Mr Speaker, there are many strong views on the sort of investment Australia should accept.  This is an important and welcome discussion and we need to engage with the range of views expressed by the Australian community.

  • Tata Consultancy Services partners with UNSW

    Tata Consultancy Services (TCS) and the University of New South Wales (UNSW) have signed a memorandum of understanding (MoU) to pursue research collaborations in machine learning, virtual reality, robotics, data analytics and cloud computing.

    In a TCS press release, Ananth Krishnan, Chief Technology Officer of TCS, says the company is delighted to deepen its ties with the Australian academic research community.

  • Investing in Australia’s future - the Australian Export Awards

    I'm delighted to announce this week's Australian Export Awards will feature a new category acknowledging the important contribution of international investment into Australia's economy.

    The Minister for Trade, Tourism and Investment's Investment Award will honour an international company or joint venture making a long-term contribution to our economy by creating employment, cultivating innovation and facilitating Australian industry expansion within global supply chains.

  • Obs, Increased Economic Activity Through Coober Pedy Mining Operation

    More than 60 jobs will be created in the state’s Far North through a new mining and processing operation near Coober Pedy, supported by a $397,306 State Government grant through the Regional Development Fund (RDF).

    The operation, owned and managed by Cu-River Mining Australia Pty Ltd, will focus on extracting and processing high grade magnetite iron ore containing residual copper from the Cairn Hill Mine, 55 kilometres south of Coober Pedy.

    The processed ore will be exported under agreement to China.

  • Cotter restoration will reduce fire hazard and increase biodiversity

    Fuel reduction and habitat restoration works currently underway in the Lower Cotter Catchment and Blue Range will have multiple benefits says Director, ACT Parks and Conservation, Daniel Iglesias.

    The 2003 fires that swept into Canberra destroyed all the Pinus radiata plantations in the Lower Cotter Catchment. In the years since that fire, significant work has been undertaken by the land manager to restore the landscape. Several steep and inaccessible areas with thick pine regeneration are now finally being treated in a range of ways with the aim to reduce the fire hazard into the future.

  • Canberra leads the nation and commits to zero emissions by 2050

    In the final days of the United Nations Climate Change Conference held in Marrakesh, the ACT became one of 17 states/regions and 19 countries across the world to sign up to the 2050 Pathway Platform, Minister for Climate Change and Sustainability, Shane Rattenbury, has announced.

    The Pathway Platform will support countries, governments and businesses to develop long-term strategies to work towards zero greenhouse gas emissions by 2050, including by setting interim targets to help get there.

  • Local drivers of short-term visitors to Australia

    While Australia offers more than sightseeing and textbooks, tourism and education exports remain strong drivers of Australia’s services exports by value, accounting for seventy-one per cent of these international sales.

    Recent analysis by Tourism Research Australia highlights the demographic profile of visitors to Australia has changed over the past fifty years.

  • ChAFTA keeps the gate open to China’s beef market

    A group of 18 Australian beef producers recently visited Chongqing to get a first-hand understanding of China’s beef market – a market with growth opportunities that could be worth billions to Australia.

    Led by the ANZ Bank, with site visits and business matching arranged by Austrade, the delegation visited Chongqing General Trading Group, a US$10 billion company with national wholesale distribution and more than 300 branded retail stores in Chongqing.