Friday, 19 April 2019 Sydney

Invest In Australia News::

  • Australian Government reaches agreement on resources tax

    The Federal Government has reached agreement on improved resource tax arrangements that address the concerns of the resource industry.

    According to Deputy Prime Minsiter and Treasurer Wayne Swan, the agreement provides certainty to the resources industry, to mining communities right around the country, and to the broader Australian economy.

    "The breakthrough agreement keeps faith with our central goal from day one: to deliver a better return for the Australian people for the resources they own and which can only be dug up once. It is the result of intense consultation and negotiation with the resources industry," Swan said.

  • Carbon trust programs to boost energy efficiency and carbon reductions

    Australian Carbon Trust today announced the commencement of two of its national programs, with plans for building strategic relationships with major businesses and the wider community to retrofit non-residential buildings and certify their businesses, products and services under a new Carbon Neutral Program.  

    The Australian Carbon Trust is now seeking Expressions of Interest from financial institutions, businesses and service providers, who wish to work with the Trust on energy efficiency projects in the non-residential buildings sector across Australia.

  • Innovative water-saving device launched by H20 Organiser Ltd

    H20 Organiser Ltd has designed a water control and monitoring device which it claims has the potential to save households and commercial premises up to 180 million litres of water a year nationwide.


    According to H20 Organiser, the H20 Water Pressure Controller and Town Saver products present an easy and cost-effective solution to the ongoing problem of water wastage by monitoring the flow of electricity, rather than the flow of water to a pump - enabling the device to sense when a pump is running unnecessarily and avoid potentially disastrous losses of water.


  • New Queensland infrastructure positive for property values

    Property owners and investors across South East Queensland can take heart in the fact that the infrastructure being rolled out across the region will underpin future capital in their investment, according to the Property Council of Australia.

    Property Council of Australia Queensland executive Director Steve Greenwood that the investment in
    infrastructure being made by all three levels of government in South East Queensland was good for
    property owners.

    “History has shown us that investment in infrastructure delivers real increases in property values and

  • Leading Australian and Taiwanese biotech companies announce collaboration

    Progen Pharmaceuticals Ltd (ASX:PGL, NASDAQ:PGLA) announced it has signed a License and Collaboration Agreement with Medigen Biotech Corporation (Taipei, Taiwan) for the development and commercialisation of muparfostat (PI-88) globally.


    Muparfostat is a multi-targeted cancer therapeutic in late stage development which inhibits
    both angiogenesis (or tumour promoting) factors, Fibroblast Growth Factors (FGF) 1 and 2, and heparanase, an enzyme implicated in metastasis (tumour spread).

    This agreement creates a binding arrangement between the parties.


  • Skilled occupations list for migrants updated

    A major reform to the skilled migration program which comes into effect today will help
    deliver workers needed to meet skills shortages in the Australian economy, Minister for
    Immigration and Citizenship, Senator Chris Evans said.

    The new skilled occupations list (SOL) will apply from 1 July and provide employers with
    access to skilled workers from 181 highly valued occupations, including managerial,
    professional, technical and trade occupations.

    “The Government’s reforms to the skilled migration program are delivering the workers our
    economy need to the regions where there is real demand,” Senator Evans said.


  • New report on bioenergy opportunities

    Bioenergy – an industry that has significant potential to help Australia reduce its greenhouse gas emissions and dependence on fossil fuels – is the focus of a new report released by the Rural Industries Research and Development Corporation (RIRDC).

    Overview of Bioenergy in Australia provides a comprehensive overview of the $400 million a year industry, and addresses how bioenergy can help contribute to Australia’s low carbon future.

    Speaking at Bioenergy Australia’s quarterly meeting, RIRDC’s General Manager for New Rural Industries, Dr Roslyn Prinsley said Overview of Bioenergy in Australia will serve as a valuable tool for policy makers, industry participants and potential investors in the industry.

  • Certainty for large renewable energy projects through new legislation

    The passage of the enhanced Renewable Energy Target and Building Energy Efficiency legislation through the Australian Parliament will provide a more solid footing for large renewable energy proejcts, according to Minister for Climate Change and Energy Efficiency, Senator Penny Wong.


  • Australia moves up in private banking market rankings

    The Capgemini and Merrill Lynch 2010 World Wealth Report has shown Australia has become the third largest private wealth market in the Asia Pacific and the 10th largest in the world.


  • Government cuts red tape for business

    The Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP, has welcomed the final approval of Regulations to accompany legislation passed by Parliament last week to reduce red tape for business.

    The Regulations were approved by the Executive Council today and support the Corporate Reporting Reform Act 2010, which contains a range of measures to reduce the regulatory burden on business and improve Australia’s corporate reporting framework.

  • Allegro Private Equity launches Fund II

    Allegro Private Equity has launched a new fund called Allegro Fund II to raise more than $200 million to invest in the growing number of smaller mid-market private equity opportunities that have emerged post global financial crisis.

    Macquarie has already been secured as a cornerstone investor for the fund, which will target turnaround businesses in Australia and New Zealand requiring capital to restructure or unlock potential growth, as well as emerging business requiring funds to accelerate growth.

    Chester Moynihan, joint managing director, Allegro Private Equity, said the fund is looking to capitalise on mid-market private investment opportunities emerging as the economic outlook in the Australia New Zealand region improves.

  • Australian scientists demonstrate new source of clean energy

    Australian scientists have demonstrated a new source of clean energy in the latest issue of prestigious science journal Nature Materials. Dr Zhiguo Yi and Professor Ray Withers from the Research School of Chemistry at the Australian National University in Canberra worked with colleagues at the National Insitute of Materials Science in Japan and Nanjing University in China to show how the inorganic compound silver orthophosphate can oxidise water with the power of light.

    The oxidisation process can be used to break down organic contaminants in water and opens up the possibility of using solar energy to ‘split’ water into oxygen and hydrogen to be used as clean fuel.

  • Transfield Services secures more than $200m of work

    Transfield Services has announced that it has secured more than $200 million of work across Australia, New Zealand and the US.


    This includes the award of a new ten-year $68 million contract by Aurora Energy to support their delivery of energy supply services to five of Victoria’s major public hospitals, as well as preferred service provider status for $75 million of expanded scope of work in the power sector.


    Transfield Services also renewed their contract with New Zealand’s national electricity operator, Transpower, for NZ$18 millon and signed a four-year asset management contract with City of Melbourne to provide integrated asset management and property maintenance service to 190 properties.


  • Australian shares give investors best ‘real’ returns

    Australian shares have outperformed all other investment sectors to provide the best ‘real’ returns to local investors over the past two decades, according to the latest Russell Investments/ASX Long-Term Investing Report.

    The report found that Australian shares delivered the best after-tax and after-cost returns at the lowest and highest marginal tax rates across the last 20 years with returns of 9.9 per cent per annum and 7.8 per cent per annum respectively.

  • Telstra signs Financial Heads of Agreement on National Broadband Network

    Telstra has signed a non-binding Financial Heads of Agreement with NBN Co to participate in the rollout of its National Broadband Network (NBN). If completed, the transaction would deliver Telstra a post-tax net present value of approximately $11 billion and see the company progressively migrate its voice and broadband traffic from its copper and cable networks to NBN Co’s network.

    According to the agreement, Telstra will be compensated for the decommissioning of its copper network and cable broadband, as well as for the use of its infrastructure. However, the company will continue to use its cable network to meet its pay TV contract with Foxtel.

  • Australia’s commodity export earnings to rise

    The Australian Bureau of Agricultural and Resource Economics (ABARE) has forecast a 23.4 per cent rise in Australia’s commodity export earnings in 2010-11.

    According to the ABARE’s June issue of Australian Commodities, Australia’s total commodity exports will increase from an estimated $164.1 billion in 2009-10 to $202.5 billon in 2010-11.

    “Reflecting continued recovery in the world economy, we are expecting growth in export earnings from the farm sector as well as the minerals and energy sector in 2010-11," said Paul Morris, deputy executive director, ABARE.

  • Asian ICT companies look to Australia for growth

    Australia’s burgeoning ICT industry is attracting widespread interest from Asian technology businesses looking to take advantage of one of the region’s strongest economies, reports the Australian Trade Commission.

    According to Kirsten Sayers, Australia’s Senior Trade Commissioner to Singapore, Australia’s ICT industry is among the most developed in the region and has created numerous opportunities for international business to invest directly into the country or establish partnerships with Australian businesses.

  • Australian biotech company seeks $10 million for cancer drug trials

    Australian biotech company QBiotics Limited is seeking to raise $10 million in capital to fund human clinical trials of its revolutionary drug EBC-46 following successful testing on animals.

    EBC-46, which is derived from the seed of a fruit found only in the tropical rainforests of North Queensland, has been proven to successfully reduce or eliminate solid cancer tumours in over 100 animals around Australia including dogs, cats and horses, with no significant adverse side effects.

    According to Reuben Buchanan, Corporate Finance Manager, QBiotics, EBC-46 is “likely to see significant value uplift for the company and its shareholders provided the drug moves successfully through the various phases of human clinical development.”  

  • Federal Government pledges $35.8 million to enhance Australian settlement services

    Laurie Ferguson, Parliamentary Secretary for Multicultural Affairs and Settlement Services, has announced that the Australian Government will spend $35.8 million in the next financial year on services to help refugees and migrants settle into their new communities.

    From the 1 July 2010, a total of 226 projects delivered through 224 organisations will be funded as part of the Department of Immigration and Citizenship’s settlement grants program, which aims to help refugees and migrants become self-reliant.

    Some of the successful applicant organisations include migrant resource centres, multicultural service agencies, educational institutions, community groups and welfare organisations.

  • Australia’s private companies bounce back

    KPMG’s annual Private Companies Survey says that Australia’s private companies are poised to expand in coming months, with business confidence on the rise. 70 per cent of the companies surveyed by KPMG believe that the economy is in recovery and appear positive about the mid term economic outlook, while 95 per cent of respondents said that they were moderately or very well prepared to respond to changes in the Australian economy in the coming year.

    Growth is also high on the agenda for most of the survey’s respondents, with 75 per cent indicating that they are readying for expansion. This represents a significant improvement on last year’s results, which found that 30 per cent of respondents intended to downsize operations to cope with the economic downturn.

  • Infrastructure Partnerships Australia calls for certain project pipeline

    Infrastructure Partnerships Australia says that a new report by KPMG recently released through Infrastructure Australia shows that Australia’s policymakers need to deliver a transparent national pipeline of projects in order to drive competition.

    “Australia is only a small part of a global market for skills and investment, and with a backlog of more than $700 billion we need to focus on how we attract global and Australian investment into our next generation of major projects," said Brendan Lyons, director, Infrastructure Partnerships Australia.

  • Concrete reinforcing product Enviromesh wins sustainable design award

    A new construction material used for reinforcing concrete in buildings has taken out the Award for Excellence in Sustainable Design in the 2010 Australian International Design Awards.

    A division of Standards Australia, the Australian International Design Awards recognise excellence in product design and innovation. Products are judged against a common set of six criteria, including innovation, quality of manufacture, functionality, human safety, visual appeal and environmental sustainability.

  • Australian R&D tax credit best in the world

    In a new report entitled Competitive Alternatives 2010 Special Report: Focus on Tax, global professional services firm KPMG has identified Australia’s new R&D tax credit as “the best in the world”.

    The new tax credit, which comes into effect from July 1st 2010, will double the rate of government support for R&D conducted by firms with a turnover of less than $20 million. Larger businesses will be eligible for a 40 per cent non-refundable tax credit, which raises government assistance from 7.5 cents to 10 cents in the dollar.

  • Melbourne’s first carbon neutral office building gets green light

    The first commercial office building in Melbourne to target carbon neutrality as its core principle has received planning approval from Melbourne City Council, with the Council stating that the “landmark development will set a new standard for green building design in Melbourne”.

    41 Exhibition Street, which is owned by the Australian Institute of Architects, will be redeveloped into an eye-catching 21 storey commercial building featuring micro retail space, an architecture gallery, industry conference spaces and 20 levels of commercial strata, four of which will be occupied by the Institute.