Monday, 30 May 2016 Sydney
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Invest In Australia News::

  • Australian Government General Government Sector Monthly Financial Statements April 2016

    KEY POINTS

    • The underlying cash balance for the 2015-16 financial year to 30 April 2016 was a deficit of $38,983 million.
    • The fiscal balance for the 2015-16 financial year to 30 April 2016 was a deficit of $33,815 million.

     

     

    Care needs to be taken when comparing monthly or cumulative data across years and to full-year estimates, as revenues and expenses vary from month to month.

  • A $10 million Small Business Development Fund has been established to help small businesses in northern Adelaide to grow and create sustainable jobs.

    Established as part of the Northern Economic Plan, the Fund will give small businesses and start-ups exclusively in the Playford, Port Adelaide Enfield and Salisbury council areas with the opportunity to apply for financial support through two dedicated Grant programs over three years.

    Start-Up Business Grants

    A total of $4 million in Grants worth up to $20,000 each will be available to assist entrepreneurship and new business establishment in northern Adelaide.

    Business Expansion Grants

    A total of $6 million in Grants worth between $10,000 and $100,000 will support activities that grow small, established businesses in northern Adelaide.

    How to apply:

    Applications for both Grant programs are now open.

  • Australia’s export performance in 2015

    The recent release of supplementary data on international trade in services by the Australian Bureau of Statistics (ABS) has allowed DFAT to update its rankings of Australia’s leading trading partners and top 25 exports and imports. So, what do these numbers tell us about Australia’s export performance in 2015?

  • Continued growth for Australia’s inward Foreign Direct Investment

    As Australia transitions from the end of the greatest mining boom in the country’s history, figures just released by the Australian Bureau of Statistics (ABS) show that Australia’s stock of Inward Foreign Direct Investment (FDI) continues to grow although net inflows have declined, primarily because of a fall in the value of mining sector investment.

  • Breaking From Traditional Thought, Frost & Sullivan Backs Autonomous Device Networks as a Model for Industrial IoT Connectivity

    LONDON – 26 May, 2016 – The Internet of Things (IoT) for Industries is transforming both the consumer and the business landscape, offering tremendous opportunities for agile suppliers. However, businesses founded on connectivity across devices, geographies, applications and services require diversity in business models. Each industry and company will need a customized approach to connectivity based on its unique requirement. As a result, the existing “massive IoT” approach of having a common monolithic connectivity solution must be relooked to accommodate the diverse possibilities of connectivity requirements in the future. In this regard, a de-centralized and self-organising device network is a more economical, reliable, and scalable approach towards connectivity.

  • $1.5 million to ease homelessness for older residents

    The City of Sydney is supporting a new aged care facility that will help break the cycle of older residents experiencing homelessness.

    A $1.5 million grant has been awarded to not-for-profit group HammondCare to assist in the construction of a facility offering affordable aged care for the inner-city homeless population.

    Located in Darlinghurst, the residential aged care home will house up to 50 people who are homeless or at risk of homelessness.

    Providing long-term, specialist high-level care for people with complex needs, the five-storey facility will help residents regain independence and find stability in their lives.

  • World leading SA company to call Tonsley home

    One of South Australia’s most successful businesses is relocating its headquarters to Tonsley in a major boost for Australia’s first innovation district.

    SAGE Automation, which specialises in industrial automation and control systems, will move to the award-winning Main Assembly Building at Tonsley. The company will be located on the western side of the building in an area spanning approximately 3100 square metres – making it one of the building’s largest tenants.

    SAGE Automation's focus on innovative industrial automation, best practice LEAN manufacturing and technology driven training aligns with the State’s vision for Tonsley as an operating environment that facilitates high value industry, collaboration, and economic development.

  • Arrium suppliers access State Government financial lifeline

    Two Arrium suppliers have accessed the State Government’s new interest-free Whyalla Small Business Loan Scheme in order to address cash flow issues associated with the Arrium Administration.

    Treasurer Tom Koutsantonis has approved the application for a $165,000 loan to DSE Civil Pty Ltd, a Whyalla-based specialist concrete supplier.

    Mr Koutsantonis has also approved a loan of $90,000 for Delmac Power Equipment, which supplies a range of industrial equipment, such as engines, generators and pumps. He contacted both businesses today to notify them of the success of their applications.

    There are an additional 14 businesses who are having applications for loans considered.

  • Paul Zahra joins PwC as Global Retail Advisor

    PwC Australia has recruited former CEO and Managing Director of David Jones Limited, Paul Zahra as Global Retail Advisor to add fuel to its growing retail and consumer practice.

    Speaking about the appointment, PwC Australia's Retail and Consumer Practice Leader, Chris Paxton, said: "We're absolutely delighted to have Paul joining the team.  Our Australian practice has grown over 30 percent in the past year as we continue to support our clients to transform as a result of continued disruption, rapid acceleration of digital technology and changing customer expectations.

  • Australian technology behind world’s largest telescope

    Australia’s science agency, the Commonwealth Scientific and Industrial Research Organisation (CSIRO), has developed the technology behind the world’s largest telescope, currently being constructed in Guizhou Province, south-west China, and due for completion in September.

    The half-a-kilometre-wide Five Hundred Metre Aperture Spherical Telescope (FAST) is much larger than the current largest single-dish telescope at the Arecibo Observatory in Puerto Rico.

  • Australia’s inward FDI stock rose to A$736 billion in 2015

    Rounding out our recent series of posts on Australia’s inward foreign direct investment (FDI), this post looks at how the FDI stock has changed over the past decade.

  • Adelaide’s night time economy continues to grow

    A report into the night time economy of the nation’s cities has shown that activities taking place during the evening and night time in Adelaide continue to make a significant contribution to its economy.

  • Million dollar commitment to community groups

    An after-school and vacation care program for disadvantaged kids, a free village-to-village shuttle service and an anti-bullying campaign are some of the many recipients of the City of Sydney’s latest grants.

    The City has awarded almost $1.5 million in cash and in-kind support to more than 50 local projects in the first of two community grant rounds for the 2016-17 financial year.

    Lord Mayor Clover Moore said the grants were a practical way to support the many community groups that provide vital services in the city.

    “This is about building a stronger, more resilient community. These grants are going to projects that will help build the social, cultural, environmental and economic life of our city,” the Lord Mayor said.

  • Resources partnership between Chile and South Australia expanded

    Chile and South Australia have renewed the mineral resources partnership between the two mining jurisdictions, with the re-signing of a Memorandum of Understanding for a further five years.

    The MoU has been strengthened by widening the exchange of information to include regulatory practices in the two jurisdictions. Previously, the exchange of information was more focused on geology and exploration technology, with a focus on copper mining.

  • Australian Fintech Opens up Vast Opportunities for ICT Companies in Security, Cloud, Managed Services, Blockchains, Artificial Intelligence, Biometrics and Data Centre, says Frost & Sullivan

    Australia’s development as a leader in Fintech innovation will require concerted effort from government agencies and established financial institutions and will involve partnerships and research collaboration between banks and startups.

  • Craig Dunn joins Jobs for NSW Board

    Minister for Industry, Resources and Energy, Anthony Roberts, and Jobs for NSW Chairman, David Thodey, today announced that Craig Dunn has been appointed to the board of Jobs for NSW.

  • KPMG calls for road pricing scheme for Australia

    KPMG Australia is calling for a comprehensive trial of road user charging models across the country. In a paper issued today, Unblocking traffic congestion, the firm estimates that the country’s existing toll roads create an annual $7 billion of economic, social and environmental value per annum.

  • Australian wealth managers need to employ client-centric strategies to capture share of US$200b global revenue opportunity

    • 1 in 4 Australia clients are willing to switch wealth managers
    • Shifting client expectations and technology are driving industry transformation
  • Culture, leadership, engagement top HR challenges for Australia

    Australian businesses are bucking global trends when it comes to human capital, according to a new Deloitte survey report, Global Human Capital Trends 2016: The new organisation. Different by design.

  • Balance sheet measures vs Directional FDI: What’s the difference?

    NB. This one is mainly for those interested in delving into statistical definitions and the construction of the direct investment series. Other readers might want to give it a miss.

    One of the key features of the FDI numbers I referenced in my first post on the latest Australian Bureau of Statistics (ABS) data was the sharp decline in inflows that has taken place over the past two years, largely driven by a drop in the level of direct investment into the mining sector:

  • Pre-Election Economic and Fiscal Outlook 2016

    Today’s independent Pre-Election Economic and Fiscal Outlook 2016 (link is external) (PEFO) confirms the integrity of the Budget delivered on May 3 and that the Turnbull Government is on track to bring the Budget back into balance as projected.

    The PEFO shows the Secretaries of the Treasury and the Department of Finance have attested that the credible and conservative assumptions and economic forecasts underpinning the 2016-17 Budget are official estimates which were adopted in full by the Government.

  • Trade Winds

    This week’s readings include an example of the technology industry’s efforts to increase uptake, and an overview of China as a global investor.

  • New report highlights economic contribution of regional fund

    Chile and South Australia have renewed the mineral resources partnership between the two mining jurisdictions, with the re-signing of a Memorandum of Understanding for a further five years.

    The MoU has been strengthened by widening the exchange of information to include regulatory practices in the two jurisdictions. Previously, the exchange of information was more focused on geology and exploration technology, with a focus on copper mining.

    The partnership enables Chile to benefit from South Australia's expertise in mineral exploration deep below cover, while South Australia hopes to encourage investment from Chilean companies in the local mining sector.