Thursday, 20 June 2019 Sydney
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Invest In Australia News::

  • Optimism is growing towards Australia's housing market

    • Other housing data is also starting to show modest signs of improvement, even before possible rate cuts and regulatory easing are taken into consideration.
    • Based on recent trends, the debate over whether the worst of the downturn is over is slowly turning towards when prices may start to bottom.

    Australian capital city home prices have fallen for 19 consecutive months, equaling the downturn seen at the start of the decade, at least in terms of duration.

  • Australian businesses lose $7.2 million from email scams in 2018

    Email scams hit Australian businesses more than 5800 times in 2018, with losses exceeding $7.2 million according to the Australian Competition and Consumer Commission ('ACCC').

    The ACCC's Targeting Scams report details how sophisticated email scams hit Australian businesses at a 53 per cent increase compared to 2017.

  • After a brutal 2018, Australian new home sales look to have stabilised

    • Australian new home sales have stablised after slumping over 8% last year.
    • Other housing market indicators have stabilised recently, hinting that conditions may be slowly staring to turn.
    • Australian building approvals data for March will be released on May 3.
  • Forget taxes and energy, the key election issue for small business is payment times

    Politicians courting the vote of the nation's small businesses should look no further than the lifeblood issue of getting paid on time.

    That is the clear message from a survey of 1000 businesses by accounting platform MYOB which saw 69 per cent of respondents saying they would vote for policies committing government and big business to pay small businesses within 30 days.

    Payment times was the biggest concern for small business ahead of other issues both parties have campaigned heavily on such as company tax cuts and energy policies.

  • Crowdfunding small slice of startups' record fundraising

    It's been a bumper quarter for startup capital raises but Australia's much heralded equity crowdfund format is contributing less than half a per cent of the cash.

    A quarterly funding report from Techboard released on Wednesday shows startups raised more than $2.6 billion in the three months to March. Venture capital contributed $477 million to this, while crowdfunding delivered just $7.4 million.

  • Jump! swim company paid thousands by franchisee but never built schools, court hears

    A franchisee who entered into a swim school venture to teach special-needs children ended up paying thousands of dollars despite the schools never being built, a court has been told.

    Shaun Trumbull says he entered into franchise agreements with Jump! swim schools to establish two premises on Sydney's Northern Beaches in March 2016.

  • Forget taxes and energy, the key election issue for small business is payment times

    Politicians courting the vote of the nation's small businesses should look no further than the lifeblood issue of getting paid on time.

    That is the clear message from a survey of 1000 businesses by accounting platform MYOB which saw 69 per cent of respondents saying they would vote for policies committing government and big business to pay small businesses within 30 days.

    Payment times was the biggest concern for small business ahead of other issues both parties have campaigned heavily on such as company tax cuts and energy policies.

  • Bank funding cost fall sparks 'out-of-cycle' rate cut debate

    Weak loan growth and expectations of a cut in official interest rates have triggered a sharp fall in banks' funding costs, sparking debate over the prospect of "out-of-cycle" mortgage rate cuts.

    After banks last year raised variable interest rates, citing higher funding expenses, a key measure of what it costs banks to borrow on wholesale debt markets has recently returned to more normal levels.

  • Future Fund returns top 10 per cent for the decade

    Australia's Future Fund has grown to $154 billion and strong equity gains over the past quarter have helped push the 10-year returns over 10 per cent, though future global economic challenges could affect value.

    Australia's sovereign wealth fund has earned $94 billion in returns since being established in 2006 and is up 5.9 per cent so far this year, beyond its target of 3.9 per cent.

  • 'Political football': Government under pressure on franchising inquiry

    The government is coming under pressure to act on the recommendations of the franchising inquiry, with Labor pledging it will urgently establish a taskforce to implement them if elected.

    The bipartisan inquiry made 71 recommendations for change when it released its damning report on the sector in March, pushing for a total overhaul of the sector and new laws, greater enforcement powers and penalties for the regulator, and a suite of changes to the franchising code.

  • Builders warn global workers critical amid skills shortage

    Australia's home building sector says it's highly vulnerable to a looming skills shortage and needs further support to find building talent from overseas.

    "The issue we have now is that the bar is being set a bit higher in terms of qualifying to bring in skilled labor," Housing Industry Association's Harley Dale says.

    The peak body for the home building industry put out calls on Friday for a separate contractor visa that could be used to bring in-demand workers like bricklayers and tilers into Australia for building construction projects.

  • Charged up: Power startups say their time has come

    Daniel Lawes wants to solve the solar storage challenges of Australian households using the humble hot water tank.

    "Let’s look at what people already have in their homes and take the effort away from the homeowner," he says.

    The British entrepreneur has relocated to Australia in hopes of launching his energy storage startup, Power Diverter, to the local market.

  • Boost in Chinese coal raises hopes of end to Australian import curbs

    China's decision to boost its domestic thermal coal mining industry has raised hopes the country's unofficial restrictions on Australian imports may soon end.

    Australian thermal coal has faced lengthy customs delays at Chinese ports and debate has raged on whether the restrictions were driven by political or economic motivations.

    When restrictions were first reported, some experts suggested China was punishing Australia for its ban on telecommunications company Huawei.

  • Amazon promises one-day shipping, but Australia may have to wait

    Online retail giant Amazon more than doubled profit in the first quarter compared with last year, smashing analyst expectations as it revealed plans to speed up shipping times of its products.

    The company said in a conference call it was working to move its standard Prime shipping times from two days to one, though local retail experts say Australia is unlikely to see such speedy shipping any time soon.

  • Malaysia turns to Australia to build defence capabilities

    The Malaysian Government and industry are actively seeking partnerships with Australian defence companies to build their maritime and aerospace capabilities.

    This was one of the takeaway messages for the 14 Australian defence companies that showcased their products, technologies and services as part of the Team Defence Australia (TDA)-led delegation to the Langkawi International Maritime & Aerospace Exhibition (LIMA ‘19) in Malaysia in March.

  • Sri Lanka suicide bomber studied in Australia, minister says

    State minister of defence says one of bombers was a student in UK and did postgraduate course in Australia

    One of the suicide bombers involved in the Easter Sunday attacks across Sri Lanka studied in the UK and Australia, a Sri Lankan minister has said.

  • Free bus services for veterans this ANZAC Day

    The Tasmanian Government will again offer free Metro bus travel on ANZAC Day to Veterans, War Widows and other service personnel.

    Providing this service continues this tradition over previous years, and is a small token of gratitude in recognition of the significant contribution our service men and women have made serving Australia.

    Members of the Australian Defence Force – the Australian Army, Royal Australian Navy and Royal Australian Airforce – are all entitled to free travel on ANZAC Day provided they are in uniform.

  • CPI supports Government's wage offer

    The ABS today released its Consumer Price Index data for Hobart for the March 2019 quarter, which shows that the cost of living declined in the quarter (by 0.2 per cent), and grew just 2.1 per cent over the year to the March 2019 quarter.

    These figures support the Government’s position with respect to a fair and affordable wage offer to public servants.

    Our most recent offer of seven per cent over three years exceeds the current rate of inflation by a considerable margin. And of course, we have also offered notable improvements in other important conditions.

  • Coalition refers water buybacks to auditor general in hope of defusing scandal

    Audit will investigate the $80m purchase overseen by Barnaby Joyce but Labor says it won’t go far enough

    The Coalition has sought to defuse a growing political scandal over $80m in water buybacks by referring the past decade of commonwealth water purchases to the auditor general.

  • Labor inland rail inquiry gives regional voters 'a clear difference', farmers say

    Anthony Albanese promises independent inquiry into the $10bn Melbourne-to-Brisbane rail project’s route and financing

    The New South Wales Farmers Association has slammed the Nationals for ignoring landholder concerns about the government’s $10bn inland rail project, saying Labor’s proposed inquiry now gives regional Australians “a clear difference between the major parties” in next month’s election.

  • Timor-Leste oil revenue question must wait until after election, Labor says

    Shadow foreign minister Penny Wong hopes parliament will ratify the maritime border treaty as soon as possible

    Calls for Australia to repay a year’s worth of oil and gas revenue revenue to Timor-Leste will not be considered by the Labor party before the election, Penny Wong has said.

  • US company's attempt to sue Australian government collapses

    Florida-based APR Energy sought compensation for treatment of its gas turbines

    A US energy company’s controversial and unprecedented attempt to sue the Australian government has collapsed, leaving taxpayers with a $44,000 bill.

    In 2017 Florida-based APR Energy became the first company to attempt to sue the Australian government under the Australia-US free trade agreement, demanding $344m in compensation for Australia’s treatment of its gas turbines.

  • Australian business ‘simply the best’ for a workable future

    Nepalese international student Abhie Ghimire has not looked back since he decided to pursue his university education in Australia three years ago.

    It’s a long way from his family in the Himalayan region of Nepal but Mr Ghimire, 25, said Australia was “one of the best places in the world to study” because of its prosperous employment opportunities.

  • Australian Industry Group calls for industrial relations freeze until new senators take office

    One of Australia's leading business lobby groups is urging crossbench senators not to pass any industrial relations changes if Parliament sits before the Senate changes over.

    Key points: