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

  • Boeing just unveiled how it's going to fix the 737 Max that was grounded after 2 fatal crashes in recent months

    Boeing unveiled the software fix and updated training procedures for the 737 Max airliner on Wednesday. The changes come amid the grounding of the global 737 Max fleet after two deadly crashes in just four months.

    “We mourn this loss of life, and we’re going to do everything that we can do to ensure that accidents like these never happen again,” Mike Sinnett, Boeing’s vice president of product strategy and development, said at a press conference on Wednesday.

  • Australian household wealth hit by plunging stocks and weaker property prices

    Australian household wealth fell at the fastest pace in seven years in the final there months of last year, dragged down by a plunge in stocks and continued weakness in home prices.

    According to the Australian Bureau of Statistics (ABS), household wealth slipped by 2.1% during the December quarter, representing a decline in dollar terms of $257.6 billion.

    It was the largest percentage decline since the September quarter of 2011.

  • How Australia's top secret cyber agency helped defeat Islamic State

    In a rare public address, the head of the Australian Signals Directorate (ASD) Mike Burgess declassified details about the operation against so-called Islamic State, known as Daesh, for the Australian public.

    “Our offensive cyber operators were at their keyboards in Australia, firing highly targeted bits and bytes into cyberspace. Daesh communications were degraded within seconds,” Burgess told a Lowy Institute event in Sydney yesterday.

  • Atlassian co-founder slams government over encryption bill: 'This poorly written law is putting jobs at risk'

    • Atlassian co-founder and co-chief executive Scott Farquhar repeats claim encryption laws place tech industry in a chokehold.
    • The tech star calls for government to keep its promise and review legislation.
    • “At a time when the the industry is trying to create jobs for the future, this poorly written law is putting jobs at risk,” he said.

    Atlassian’s Scott Farquhar is calling on the federal government to keep its promise and revisit

  • The founder of Jim's Mowing slams Australian government: 'Franchisees get incredibly stuffed'

    Jim’s Mowing founder David “Jim” Penman has described a set of new franchising recommendations that were submitted to the Australian government as “feeble,” adding that he believes franchisees currently get “incredibly stuffed” by franchisors.

    Recommendations from the parliamentary inquiry into the $170 billion franchising sector don’t go far enough, according to Penman, who founded his gardening franchise in the 1980s.

  • Capital Economics is pretty bearish on Australia, including its currency

    Capital Economics is bearish on Australia, forecasting sluggish economic growth, higher unemployment, soft inflation, declining home prices and a reversal of recent commodity price strength will force the Reserve Bank of Australia (RBA) to cut official interest rates to 0.75% by the middle of next year.

    Given that not so rosy outlook, it also sees the Aussie dollar falling further this year, even if the US Federal Reserve decides to cut interest rates as well.

  • The Australian dollar climbs as recession fears ease

    The Australian dollar reversed earlier losses on Monday, finding support from reduced financial market volatility, modest gains in some commodity markets and another large drop in US bond yields.

    Here’s the scoreboard at 8am in Sydney on Tuesday.

  • Airwallex, Australia's latest unicorn has arrived — and shows no signs of slowing down

    In another exciting boost for the Aussie startup scene, local fintech Airwallex has become Australia’s latest unicorn after completing a $US100 million ($A141 million) capital raise.

    The Series-C round takes Airwallex’s valuation to a cool $USD1 billion and into the realm of what is known as “unicorn” status. It follows a massive Series-B round of $US80 million in 2018, which was Australia’s second largest in history.

  • Australians remain downbeat despite lower unemployment

    News that Australia’s unemployment rate fell below 5% in February failed to boost confidence levels last week, a worrying outcome that will add to concerns that the spending slowdown seen in the second half of last year may continue for some time yet.

    The ANZ-Roy Morgan Consumer Confidence Index dipped 0.1% to 111.8 last week, leaving overall confidence levels well below the series long-run average.

  • $7.5 Million To Beef Up Sa’s Red Meat Industry

    The State Government will inject $7.5 million into South Australia’s red meat sector in a bid to grow productivity in the industry and further strengthen biosecurity.

     

    This new State Government investment from the Economic and Business Growth Fund will focus on technology adoption, vital infrastructure for growth and measures to enhance biosecurity in the red meat industry.

    Minister for Primary Industries and Regional Development Tim Whetstone said the funding boost will aim to boost on-farm productivity to increase the number of sheep and cattle that are raised and processed in South Australia.

  • Improving energy efficiency in Tasmanian households

    Tenders are now open for a service provider to deliver the Hodgman Liberal Government’s $850,000 Power$mart energy efficiency program for low income Tasmanian households.

    The program aims to assist Tasmanian low income households to save money on their power bills by reducing their energy usage while also reducing their greenhouse gas emissions.

    Power$mart Homes will be delivered statewide with participating households receiving:

  • Gas Industry reforms to reduce costs and improve safety

    The Gas Industry and Gas Safety Bill, which cuts red tape and streamlines the administration of Tasmania’s gas supply industry, reducing costs and improving safety, has been passed by both houses of Government.

    Gas remains an important energy source for our State and is a significant cost of living issue for many Tasmanian households and businesses.

  • RUBBER VINE FOUND IN THE NT GULF

    An infestation of the declared weed rubber vine (Cryptostegia grandiflora) has been found within the Northern Territory’s Gulf region.

    There are currently no other known rubber vine infestations in the Territory.

    Department of Environment and Natural Resources A/Regional Weed Officer for the Katherine District Susan King said rubber vine presents a serious threat to pastoral productivity and the environment.

  • Ombudsman welcomes small business telecommunications dispute team

    The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell today welcomed the Telecommunications Industry Ombudsman’s (TIO) announcement that it will form a Small Business Team.

    “From 1 April 2019, small businesses who are in dispute with their telephone, mobile or internet services provider will have a specific team to contact,” Ms Carnell said.

    “Connectivity is key to a business’ success. With 95% of small businesses online, a disruption or complete lack of connection can affect their sales, marketing, ordering and invoicing processes.

  • Integrity Commission rejects Labor’s politically-motivated witch hunt

    The Integrity Commission tabled a report to Parliament dismissing allegations made by the Labor Party against Minister Courtney, the Secretary of the Department of Premier & the Cabinet, and myself.

    This brings to an end yet another politically motivated witch-hunt by Labor and a shameless attempt to use the Integrity Commission as a political weapon – the very tactic that the Commission has warned about.

    The Integrity Commission has found Rebecca White’s and Labor’s claims against Minister Courtney to be baseless.

  • Public Sector workers access to compensation for Post-Traumatic Stress Disorder

    Nation-leading legislation introduced today will make it straightforward for public sector workers to access work-related compensation for Post-Traumatic Stress Disorder (PTSD).

    The amendment to the Workers Rehabilitation and Compensation Act 1988 will make Tasmania the first jurisdiction in Australia to introduce presumption for PTSD suffered by public sector workers and volunteer first responders.

    The changes will reverse the onus of proof for public sector workers and volunteer first responders claiming compensation for PTSD.

  • Ombudsman welcomes job system overhaul to help small businesses employ

    Australian Small Business and Family Enterprise Ombudsman, Kate Carnell today welcomed the Coalition Government’s commitment to transform Australia’s employment services model to deliver better outcomes for job seekers and employers.

    “Small businesses find the current system difficult to use and, as a result, rarely use jobactive providers to fill vacant positions,” Ms Carnell said.

    “The proposed new model will address one of the biggest problems small businesses face when trying to hire new staff – finding job seekers with relevant skills to suit their business needs.

  • REISSUE: Backing in sustainable nature tourism

    Tasmania has an unrivalled, and spectacular natural environment which people from all over the world, as well as many Tasmanians, want to experience. It is an environment we all richly respect, and want to preserve.

    For many years Tasmania has demonstrated that we are able to offer world-class experiences by allowing for sensible, sustainable tourism experiences in our wilderness areas. This is evident at Cradle Mountain, the Overland Track, the Three Capes Track, at Freycinet Lodge or at Pumphouse Point.

  • ABALONE POACHING PARTY STUNG WITH $5,000 FINE

    A party of six recreational fishers have been fined over $5,000 for trying to poach abalone with a potential commercial value of $1,500.

    The group were detected by Fisheries Officers as they were leaving the water at Cape Northumberland, near Port MacDonnell in the South East.

    It is alleged the group had in their possession 53 black lip abalone of which 48 were under the legal-size limit of 13cm.

  • Enterprise Ireland now with an office in Melbourne

    On 13 March Invest Victoria had the pleasure of hosting an Advisory Panel meeting for Enterprise Ireland, and the opening of their new office here in Melbourne.

    For Great Britain and Northern Ireland, there remains uncertainty around Brexit.  However, in true Irish spirit and defiance of such a challenging time, a group of 45 Irish businesses joined Enterprise Ireland in a trade and investment mission to Australia.

  • ATO confirms approach to research and development tax incentive

    The Australian Taxation Office (ATO) is aware of the announcementExternal Link by the Commonwealth Bank of Australia regarding their research and development (R&D) tax incentive disputes with the ATO and Innovation and Science Australia (ISA). ISA has legislative oversight of the (R&D) tax incentive, which is administered jointly by the ATO and AusIndustry in the Department of Industry, Innovation and Science (DIIS).

  • Illicit drug offenders decrease for second year

    The number of offenders proceeded against for Illicit drug offences has decreased for the second year, according to the latest figures from the Australian Bureau of Statistics (ABS).

    ABS Director of Crime and Justice Statistics, William Milne, said there were more than 78,000 offenders with a principal offence involving Illicit drugs proceeded against by police in 2017–18, a decrease of almost 3,000 compared to the previous year.

    “Over the past couple of years we’ve seen a decrease in the principal offence of Illicit drugs, with most offenders proceeded against for possession or use of drugs rather than the more serious offences of dealing, trafficking, or manufacturing,” Mr Milne said.

  • NAB steps up on definition of small business loan facility

    The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has congratulated the National Australia Bank’s lead in expanding its definition of small business to capture total lending of up to $5 million; higher than the aggregate $3 million in the Banking Code of Practice 2019.

    “It’s definitely a step in the right direction, although we continue to call on the Australian Banking Association (ABA) to adopt the Hayne recommendation in full, which is:

  • ACCC authorises WA and NT LNG producers

    The ACCC has authorised Chevron, INPEX, Shell and Woodside (ASX:WPL) to coordinate maintenance activities at their LNG facilities in Western Australia and Northern Territory. 

    The four LNG producers compete for a limited pool of skilled contractors and specialised equipment to conduct scheduled maintenance.

    “LNG producers can now schedule maintenance together without risking breaching competition laws, reducing concurrent work at their facilities. This will improve efficiency and maximise LNG production,” ACCC Chairman Rod Sims said.