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Invest In Australia News::

  • Barefoot Power wins product awards

    Australian lighting manufacturer Barefoot Power has won a series of product awards at an international off-grid lighting conference in Nairobi, Kenya.

     

    Organised as part of the International Finance Corporation’s Lighting Africa program, the awards recognise off-grid lighting systems that achieve high performance while remaining affordable for low-income earners in Sub Saharan Africa.

     

    Barefoot Power, which was established by Stewart Craine and Harry Andrews in 2005, won three of the four first prizes available in the room lighting, best value and top performing categories and won second prize in the task lighting category.

     

  • Investment in film industry gets a boost with changes to tax offsets

    Eligibility requirements for film tax offsets will be changed to make Australia a more attractive destination for significant film-making, and enable more businesses to benefit.

     

    The Australian Government will remove the current requirement for productions valued between $15 million and $50 million to spend a minimum of 70 per cent of their production budgets in Australia.

    The Post, Digital and Visual Effects Production (PDV) threshold will also be reduced, from $5 million to $500,000. Both changes will apply from 1 July 2010.

  • Australian banks perform well in a dull global financial landscape

    The Australian financial services industry continues to shine on the international stage - with strong profit results, experienced senior management at the helm, bad debts having reached their peak and the availability of funding improving concludes KPMG's Major Australian Banks, Half Year 2010 survey. While global economic growth remains cautious but optimistic for the four major Australian banks. 

     

    The majors have reported healthy 2010 half-year profits before tax of $14 billion compared to $9.7 billion in the second half of 2009. The performance by the Australian majors reflects a prudent approach to risk management, strong balance sheets and a resilient Australian economy, according to KPMG.

     

  • Chinese green manufacturer Novarise lists on ASX

    One of China's leading green manufacturers, Novarise Renewable Resources International Ltd, has debuted on the Australian Stock Exchange, under the symbol NOE.

     

    Novarise's listing on the ASX follows its successful Initial Public Offer (IPO) of 100,254,908 shares at A$0.25 each, raising approximately A$2.064 million from both Australian and international investors. Novarise now has a total of 399,254,908 issued and paid-up share capital.

     

  • Growing superannuation pool expected to attract global fund managers

    The Australian superannuation funds pool is expected to grow substantially following changes announced as part of the Australian Government’s response to a comprehensive review of the Australian tax system.

     

    Australia’s pool of superannuation savings today stands at over A$1.7 trillion (US$1.5 trillion).

     

    By 2035, the changes are expected to yield an additional A$500 billion.

     

    A proposed increase in the Superannuation Guarantee rate to twelve per cent from the current nine per cent is one of a series of initiatives that the Government has implemented, or is considering, to increase the competitiveness of Australia’s financial sector.

     

  • Australia-Korea trade in clean energy presents climate change opportunities

    Australia’s Parliamentary Secretary for Trade, the Hon, Anthony Byrne MP, said an increase in trade between Australia and Korea in the clean and renewable energy sector would help reduce the threat of climate change.

     

    Byrne said creating a low carbon, green economy to fight climate change is the next step in the two countries’ relationship, and it is a welcome one.

     

    Speaking about the ‘Clean and Renewable Energy Market Opportunities in Korea and Australia’ report launched in Adelaide, Byrne added that trade and investment in these emerging technologies provided a new pathway to strengthen Australia’s commercial and diplomatic ties with Korea.

     

    A clean energy delegation on visit from Korea also attended the launch.

  • Review of tax laws to support expansion of Islamic finance products

    Australia's Assistant Treasurer, Senator Nick Sherry, and Minister for Financial Services, Corporate Law and Superannuation, Chris Bowen, announced that the Board of Taxation would undertake a comprehensive review of Australia's tax laws to ensure that, wherever possible, they do not inhibit the expansion of Islamic finance, banking and insurance products.

     

    The Assistant Treasurer, made the announcement at a major business event in the United Arab Emirates (UAE) jointly organised by the Australian Business Group of Abu Dhabi and The Australian Business Council of Dubai, with the support of the Abu Dhabi Chamber of Commerce and Industry and attended by key figures from business, finance and banking community across the Gulf Region.

     

  • Major contract manufacturing facility for biologic medicines to be built in Queensland

    Australia's first major contract manufacturing facility for biologic medicines is set to be built in Queensland by 2012.

     

    Making the announcement at BIO Chicago yesterday, the Federal Innovation Minister Senator Kim Carr and Queensland Premier Anna Bligh said the Brisbane-based facility would be operated by international drug manufacturer DSM Biologics.

     

    The Queensland Government has provided $7 million in seed funding for the facility under its ten-year Biotechnology Strategic Plan and the Commonwealth is investing $10 million as part of its ongoing push to win high-tech, high-value jobs and industries for Australia.

     

  • More changes to Australia's student visa program

    Australian Federal Minister for Immigration and Citizenship, Senator Chris Evans, has announced measures to strengthen the integrity of the current student visa program, which will make the visa application process easier for genuine full-time students, he said.

     

    The latest measures, which include changes to the assessment of students studying more than one course, increased powers to cancel visa and streamlining the processing of postgraduate students, will also impose additional checks on those who may seek to abuse the system, according to Senator Evans.

  • Australia's property market recovering fastest in the world

    Major property investors believe Australia's property market is in a faster stage of up-swing than other markets around the world, new research released by Colliers International reveals.

     

    The Colliers International Global Investor Sentiment Survey, conducted during the first quarter of the year, has shown institutional and private investors around the world believe that if the property cycle were a clock, with the top of the market at 12 o'clock and the bottom at 6 o'clock, Australia is set to swing upwards to 8 o'clock by early next year, from 7 o'clock where it currently sits.

     

  • City of Melton courts international manufacturers

    Melton Shire Council, a fast-growing urban area in Melbourne's Western region, is offering a range of incentives to international investors and developers who are contemplating establishing manufacturing operations in Australia.

     

    These incentives are available on Council-owned industrial sites in Toolern Business Park, and they relate directly to the number of new jobs to be created in Melton, which has a large skilled local labour force.

     

  • Indian seminar series on investing in Australia

    Gujarat NRE, the largest producer of low ash metallurgical coke in India with mining facilities in Australia, will be the sponsorship partner in the seminar series, 'Doing Business with Australia', organised by the Australian Trade Commission (Austrade). 

     

  • Australian Government tightens rules on foreign investment in residential housing

    Assistant Treasurer, Senator Nick Sherry, has announced a major tightening of the foreign investment rules as they relate to residential real estate, as well as strict penalty and enforcement measures for breaches of the new regulations. 

     

    Under these new regulations, foreign non-residents can only invest in Australian real estate if that investment adds to the housing stock, and that investments by temporary residents in established properties are only for their use while they live in Australia.

     

  • Sherry expresses support for foreign investment in Australia

    Assistant Treasurer Senator Nick Sherry told attendees at the Asian Venture Capital Journal Private Equity and Venture Forum in March that the Australian Government was committed to enhancing Australia's attractive as a destination for foreign investment, with some significant reofrms of aspects of its foreign investment regime already complete.

     

    "On 22 September 2009, we lifted the monetary screening threshold for privately‑owned foreign investors to $219 million — more than twice the previous threshold of $100 million," Senator Sherry said.

     

  • Austrade film competition to showcase business opportunities

    Parliamentary Secretary for Trade Anthony Byrne has this week announced the launch of a short film competition designed to showcase the world of international business opportunities in Australia. “The inaugural Austrade 2010 Short Film Competition encourages aspiring young film producers to produce entertaining, and informative films highlighting the opportunities, processes and issues for Australians pursuing international business” said Byrne.

  • Indian mining firm to invest $500 million in NSW coal mines

    Indian mining firm Gujarat NRE Coking Coal has announced plans to invest $500 million in the expansion of its New South Wales coal mines. Gujarat NRE owns and operates two underground coalmines in the Illawarra region and is set to spend $100 million on their expansion over the next 12 months, with the rest to be invested over the next four years. Chairman of Gujarat NRE Arun Kumar Jagatramka said, “The proposed expansion is expected to quadruple production capacity in the two mines and create an additional 150 jobs, including some apprenticeships, in the next five years.”

  • Australian universities set to establish campuses in India

    The Federal Education Department has welcomed an Indian Government plan to allow foreign universities to set up campuses in India. India’s national cabinet has approved a bill to allow foreign education providers to enter the market amid booming demand for tertiary education. Approximately half of India's 1.15 billion people are under 25 years of age and Kapil Sibal, India's Minister for Human Resource Development, says an estimated 40 million young people will be going to university over the next 10 years in India.

  • Australian research collaboration with China and India on the rise

    Research collaboration between Australia and China has almost doubled in the past decade, while partnerships with other Asia Pacific nations including New Zealand, India and Singapore are on the rise. According to a new study released by Thomson Reuters, the biggest institutional partner for Australia from 2004-2008 was the Chinese Academy of Scientists, which co-authored 1269 publications with Australian researchers.

  • Queensland Premier announces $10 million mining skills program

    Queensland Premier Anna Bligh has announced that the Government will work with industry to develop a $10 million program to train thousands of workers needed for the new Coal Seam Gas (CSG) and Liquefied Natural Gas (LNG) industries. The focus of the CSG-LNG Industry Training Program will be on up-skilling current mining industry workers as well as equipping newcomers with the required skills.

     

  • Ireland to boost investment in Australia

    Ireland’s Deputy Prime Minister Mary Coughlan has announced that she will lead 30 Irish companies on a trade and investment mission to Australia in May this year. Designed to promote Ireland as a competitive source of world-class expertise, products and business partnerships, the trade mission will be hosted in Sydney, Melbourne and Canberra, and will allow companies to explore the true potential of setting up operations in Australia.

  • Investment key for future farm profits

    At today's ABARE Outlook conference in Canberra Tony Eyres, Executive Director of Harvest Capital Partners, told delegates of the increasing interest in investment in agricultural production and farm land from institutional and strategic investors.

  • Australia to be regional financial services hub

    The Australian Government has reinforced its commitment to becoming a leading financial services centre in the Asia Pacific region.

    Following the release of the Australian Financial Centre Forum's report on Australia as a Financial Centre (the Johnson Report), Assistant Treasurer, the Hon. Chris Bowen MP, said, "Australia, as an open, well regulated and stable economy in the region, is uniquely placed to capitalise on its comparative advantages and to benefit from opportunities to grow Australia's financial services sector," Bowen said.

  • Invest in Australia - India, Sydney Launch 2009

    4th December 2009

    08:30 AM - 01:00 PM

    The Hilton Hotel, 488 George Street, Sydney

     

    Post Event (New Delhi) launch conference in Sydney.

    The Conference is designed to expose Australian and Indian investment opportunities and overall success of India Australia Investment Forum in New Delhi.

  • Photos and Messages - Delhi 2009