Friday, 27 March 2015 Sydney
RSS
Connect
Newsletter

Invest In Australia News::

  • ​Ombudsman inquiry into the Department of Agriculture

    The Minister for Agriculture, Barnaby Joyce, has today welcomed the outcome of a Commonwealth Ombudsman investigation into the Department of Agriculture’s handling of an ongoing investigation into bovine serum imports.

    The Commonwealth Ombudsman has found that the department’s actions in undertaking its investigation were reasonable and that no further investigation into the complaint was warranted.

    The department’s criminal investigation into bovine serum imports remains ongoing and the department should now be allowed to continue the investigation without interference in order to bring it to a conclusion.

  • KPMG Australia to expand cyber security business

    KPMG Australia will acquire Asia Pacific cyber security technology solutions business, First Point Global, as part of a global strategy to expand the firm’s cyber capabilities. Today’s announcement marks the fourth cyber acquisition by the KPMG international network in the past five months.

    First Point Global specialises in identity and access management (IAM). Founding partners John Havers and Jan Zeilinga will join KPMG’s Cyber Security leadership team and bring with them 30 professionals - the largest specialist IAM team in the country. The combined team, to be known as KPMG First Point Global, will offer clients a full spectrum of cyber services spanning consulting, systems implementation and ongoing support.

     

  • Deloitte appoints Krallis to lead Sydney practice

    19 March 2015: As the NSW State Treasurer celebrates the return of the Premier State’s mojo, with gross state product set to top the $500 billion mark, global professional services firm Deloitte is elevating one of its transformative leaders to the top state job in Sydney.

    Eighteen year Risk Services specialist Dennis Krallis takes the baton from Deloitte’s newly appointed Chief Strategy Officer John Meacock, in order to manage its largest office in Sydney.

  • Additional support for NSW emergency water infrastructure rebates

    The Australian Government today announced it would provide additional funding to assist with the overwhelming response to the 2013-14 NSW emergency water infrastructure rebate.
    Minister for Agriculture, Barnaby Joyce, said that 2013–14 saw an unprecedented demand for the rebate programme, which was supplemented by funding from the Australian Government. As a result the allocated funds had been exhausted.
    “I was concerned about the potential impacts of oversubscription to the scheme, and I have worked hard to find a way to help farmers who applied for a 2013–14 rebate after the programme was already fully subscribed,” Minister Joyce said.

  • Additional support for NSW emergency water infrastructure rebates

    The Australian Government today announced it would provide additional funding to assist with the overwhelming response to the 2013-14 NSW emergency water infrastructure rebate.
    Minister for Agriculture, Barnaby Joyce, said that 2013–14 saw an unprecedented demand for the rebate programme, which was supplemented by funding from the Australian Government. As a result the allocated funds had been exhausted.
    “I was concerned about the potential impacts of oversubscription to the scheme, and I have worked hard to find a way to help farmers who applied for a 2013–14 rebate after the programme was already fully subscribed,” Minister Joyce said.

  • Retail Forecasts

    18 March 2015: 2014 was a healthy year for retailers with through the year retail sales growth of 3.6% in real terms and 4.9% in nominal terms. Indeed, 2014 was the strongest year for retailers since prior to the GFC.

    This growth in retail spending occurred despite the fact that Australia’s unemployment rate has recently reached a decade high, and real wage growth remains painfully weak. Instead, low interest rates, rising asset prices, and the willingness of consumers to gradually reduce their rate of savings have been powerful influences in lifting spending.

  • South Australian precinct connects industry with innovators

    A new A$120 million education and research facility in South Australia’s Tonsley industrial district is attracting global and Australian companies and strengthening the precinct’s reputation as a major innovation hub.

    Flinders University recently opened the new building at Tonsley to house its School of Computer Science, Engineering and Mathematics, Medical Device Research Institute and Centre for Nanoscale Science and Technology, as well as business activities. 

  • Commonwealth taking steps to increase Indigenous jobs

    The Australian Government has unveiled two new reforms to significantly increase the development and growth of Indigenous businesses and employment.

    Minister for Indigenous Affairs, Nigel Scullion, said that from 1 July 2015 the Commonwealth would have clear and accountable targets to significantly increase Indigenous employees in the public sector and leverage the Commonwealth’s own $39 billion in annual spending to build Indigenous businesses and boost Indigenous employment.

    “These are two significant reforms which form part of the Government’s response to the Forrest Review – Creating Parity, and will, over the long-term, lead to significant growth in Indigenous employment,” Minister Scullion said.

  • Drought recovery loans now open in NSW

    Drought-affected farmers in New South Wales can now apply for low interest loans through the Australian Government’s Drought Recovery Concessional Loans Scheme.

    Minister for Agriculture, Barnaby Joyce, said $50 million in loan funding is available to farm businesses impacted by unprecedented drought conditions to begin rebuilding when the season breaks. The loans offer a longer term and a lower interest rate as has been requested by farmers in some of the worst hit areas.

    “Loans of up to $1 million over 10 years are available at a concessional variable interest rate initially set at 3.21 per cent. These loan settings take into account the devastating impact that a 1 in 50 or 1-in-100 year drought has on farm businesses,” Minister Joyce said.

  • IBM opens second Australian cloud computing centre

    IBM has opened a cloud computing centre in Sydney as part of its US$1.2 billion expansion of its global cloud footprint.

    Since launching its first Australian cloud centre in Melbourne late last year, IBM has added hundreds of new customers and experienced a boom across its other facilities in the Asia-Pacific region (APAC), including Hong Kong, Singapore and Tokyo.

  • Townsville Ring Road commences major construction

    Construction is now underway on the long awaited and final section of the Townsville Ring Road between Shaw Road and Mount Low.

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss said the project demonstrates the Australian Government's commitment to the Bruce Highway.

    “The Townsville Ring Road is another example of how the Australian Government is helping fix major road infrastructure in north Queensland,” Mr Truss said.

    “The Australian Government is providing $6.7 billion over 10 years to improve the Bruce Highway, including major upgrades, flood immunity measures, new overtaking lanes, rest areas and targeted safety improvements along its entire length.”

  • Boosting Tasmanian Business, Investment and Jobs

    The Commonwealth Government will strengthen Tasmanian business, investment and jobs through a $203 million expansion to the Tasmanian Freight Equalisation Scheme.

    From 1 January 2016, the Scheme will be extended to goods going to markets not currently covered by the Scheme. Tasmanian businesses selling these goods will be able to claim $700 per shipping container.

    Shippers from King Island and the Furneaux Group of Islands will be eligible for a 15 per cent additional loading.

    The expanded Freight Equalisation Scheme will boost the competitiveness of Tasmanian businesses and provide a substantial incentive for local businesses to sell their products to broader markets.

  • Australian musicians receive support to create and promote their work locally and abroad

    Today I am announcing close to $900,000 in grants to increase the exposure of Australian musicians to national and international audiences, and support the development of new work.

    Forty-two musicians will be supported by a range of music grants through the Australia Council for the Arts.

    International engagement and the promotion of Australian artists on the world stage is a key priority for the Australian Government.

  • Australia must boost older workforce to secure prosperity

    Increasing the number of mature-age people in the workforce will be critical to Australia’s prosperity and its ability to fund public services in the future, Assistant Minister for Employment Luke Hartsuyker said today.

    Speaking at a Committee for Economic Development of Australia (CEDA) forum in Melbourne, Mr Hartsuyker said the Government’sIntergenerational Report revealed the number of Australians aged 65 or older is projected to more than double by 2055.

    Over the same period the number of people aged between 15 and 65 will halve as a proportion of the population.

    “The structural ageing of our population is one of the key policy challenges for our country because it affects so many aspects of our daily lives,” Mr Hartsuyker said.

  • Labour force figures

    Today’s ABS figures show employment increased by 15,600 persons in February. The labour force figures reveal a small fall in the seasonally adjusted unemployment rate from 6.4% to 6.3%.

    The participation rate decreased to 64.6 per cent in February to the same level as a year earlier.

    February’s employment result was in line with market expectations and there are some positive signs across various forward indicators of employment: ANZ job ads have now increased in each of the last nine months, and are up 9.8 per cent on the level seen a year ago.

    Minister for Employment Senator Eric Abetz said the Government will continue to work hard to build a strong, secure and prosperous economy for all Australians.

  • Deloitte appoints new Tax Management Consulting lead

     Deloitte today announced the appointment of Patrick Grob as a financial services tax partner. Based in the firm’s Brisbane office, he will also head up Deloitte's Tax Management Consulting practice.

  • Australia ranked 8th in the world for ‘digital attractiveness’

    • Australia ranks number one in political stability and regulatory risk rating
    • Yet has the second-highest illegal downloads
    • China, India, Russia and Mexico are highest-ranked emerging markets
    • Mature markets still lead in digital earnings potential but emerging markets show highest potential for growth

    Monday 11th March 2015 - A new report has found that Australia ranks 8th globally for ‘digital attractiveness’ due to low market costs and risks, but local media and entertainment (M&E) companies may need to set their sights on oversees targets to achieve maximum growth.

  • Deloitte and Group of 100 launch ASX Corporate Governance Council Principle 7: Recognise and manage risk

    11 March 2015: The third set of revisions to the ASX Corporate Governance Council’s Principles and Recommendations sets the benchmark for good corporate governance practices for listed entities in Australia.

    The revisions, effective for listed entities with financial years from or after 1 July 2014, introduce key recommendations and changes to Principle 7, further refining the recommendations to improve and strengthen risk management and increase the effectiveness of Board oversight.

  • Australia showcases world-first 3D printed jet engine

    Australian researchers have worked with French aerospace group Safran to produce the world’s first 3D printed jet engine, using new manufacturing processes that could lead to lighter, cheaper and more efficient jets.

    Monash University’s Centre for Additive Manufacturing (MCAM) and its spin-out company Amaero worked with Safran to produce the prototype, showcased at the Australian International Air Show in Avalon. They have also printed a second engine, which is displayed in Toulouse at Safran.

    The Commonwealth Scientific and Industrial Research Organisation (CSIRO), Deakin University and MCAM are leading initiatives to develop 3D printing and put Australia at the forefront of the global aerospace industry.

  • Construction begins on Werrington Arterial Road

    The Australian and NSW Governments today marked the start of construction on the $70 million Werrington Arterial Road project.

    The Assistant Minister for Infrastructure Jamie Briggs said the two infrastructure governments were getting on with building better roads for Western Sydney.

    “The Werrington Arterial Road forms part of our joint $3.6 billion Western Sydney Infrastructure Plan to slash travel times for motorists and help grow the local economy,” Mr Briggs said.

    “Not only will this project generate economic benefits of almost four times the initial investment, it will also reduce congestion and provide better links between the M4 and Great Western Highway.

  • Pacific Highway duplicated before end of the decade

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss has confirmed the Australian and NSW Governments' duplication of the Pacific Highway from Hexham to the Queensland border is on track to be completed by the end of this decade.

    “The Australian Government has made good on our commitment to invest $5.64 billion to finally get the job done on the Pacific Highway,” Mr Truss said.

    “Labor short-changed communities along the Pacific Highway by putting off what scant funding they said they would offer until after 2019–20. It was never a serious commitment to finish the job, let alone quickly.

  • Pacific Highway duplicated before end of the decade

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss has confirmed the Australian and NSW Governments' duplication of the Pacific Highway from Hexham to the Queensland border is on track to be completed by the end of this decade.

    “The Australian Government has made good on our commitment to invest $5.64 billion to finally get the job done on the Pacific Highway,” Mr Truss said.

    “Labor short-changed communities along the Pacific Highway by putting off what scant funding they said they would offer until after 2019–20. It was never a serious commitment to finish the job, let alone quickly.

  • Industry Growth Centres to help build Australia’s global links

    The Australian Government is moving ahead with its A$188.5 million Industry Growth Centre initiative, announcing the appointment of a panel of highly-experienced and internationally regarded business identities who will link the Australian and global business communities.

    Last year the Government announced it will set up five Industry Growth Centres as part of its Industry Innovation and Competitiveness Agenda.

  • Extra $1.3 million to support drought affected families

    The Federal Government will provide $1.3 million in extra funding to ensure families living in drought affected areas of New South Wales and Queensland can continue accessing family relationship support, Minister for Social Services, the Hon. Scott Morrison and Minister for Agriculture, the Hon. Barnaby Joyce said today.

    “Hundreds of families living in affected areas of New South Wales and Queensland continue to suffer from the effects of prolonged drought. This suffering affects individuals, couples and families, and entire communities,” Minister Morrison said.

    “The Government understands the importance of these relationships as well as family and community ties in helping people to survive when times are tough.