Thursday, 20 June 2019 Sydney

Invest In Australia News::

  • Draft decision for joint marketing of NT gas

    The Australian Competition and Consumer Commission (ACCC) has released a draft determination proposing to authorise joint gas marketing arrangements between Central Petroleum (ASX: CTP) and Macquarie Mereenie.

    Central and Macquarie are joint venture partners at the Mereenie oil and gas field, which is located in the Amadeus Basin in the Northern Territory, approximately 250 km west of Alice Springs.

    In order to allow the development of Mereenie gas as soon as possible, the ACCC has granted interim authorisation, which allows the parties to begin negotiating joint supply agreements with customers pending the ACCC’s final determination.

  • Woolworths allegedly misleads on environmental claims

    The ACCC has taken action against Woolworths Limited (Woolworths) in the Federal Court, alleging that the environmental representations Woolworths made about its ‘W Select eco’ picnic products were false, misleading or deceptive, in contravention of the Australian Consumer Law.

    From November 2014 to November 2017, Woolworths labelled disposable bowls, plates and cutlery in its ‘W Select eco’ line as ‘Biodegradable and Compostable’. The ACCC alleges that by these labels Woolworths represented to consumers that the products would biodegrade and compost within a reasonable period of time when disposed of in domestic compost bins or conventional landfill sites in Australia.

  • Oyster Virus Detected In Port River

    Primary Industries and Regions South Australia (PIRSA) advises that the Pacific Oyster Mortality Syndrome (POMS) virus has been detected in feral Pacific Oysters in the Port River. At this stage POMS has not been detected in South Australian oyster farming areas.

    Samples taken during routine surveillance of the Port River area detected the POMS virus. Additional testing of these samples, carried out by the Australian Animal Health Laboratory (Geelong), confirmed the results on 28 February 2018.

  • Draft decision on Port of Brisbane and Carnival agreement

    The ACCC is proposing to allow arrangements between the Port of Brisbane and Carnival Cruise Line that will support the development of a new $158 million dedicated cruise liner terminal in Brisbane.

    The parties have sought authorisation for an agreement between them under which Carnival will be bound by take or pay obligations for the new terminal, meaning Carnival will pay a fixed yearly amount to the Port over the term of the 15 year agreement.

  • ACCC flags concerns about Saputo-Murray Goulburn deal

    The ACCC says its concerns around the proposed acquisition of the assets of Murray Goulburn (ASX:MGC) by Saputo are solely in relation to Murray Goulburn’s Koroit dairy plant in western Victoria, in particular the impact the acquisition will have on competition for farmers’ milk in the area.

    The ACCC outlined its concerns in a Statement of Issues paper today and is seeking responses from interested parties by 13 March.

  • Lord Mayor Backs Tram Extensions

    Since early 2016, this group has been working together to advocate for tram extensions, with the Lord Mayor hosting a light rail summit at Adelaide Town Hall in April 2016. Council subsequently affirmed its support for an expanded tram network in May 2016.

  • Victorian lamb on the menu in China

    China’s expanding middle class is dishing up export opportunities for Victorian lamb producers. 

    While sitting down to a Sunday lamb roast is a well-established tradition for many Australians, what’s less known is that demand for this much-loved meat is on the rise in China.

    Australian lamb is tipped to be served in greater numbers in China in the coming years, thanks to growing demand for Western proteins being driven by an expanding middle class, whose ranks are expected to top 850 million by 2030. *

  • Fintech business lenders move to increase transparency

    The Australian Small Business and Family Enterprise Ombudsman, FinTech Australia and today joined forces to release a report which outlines the steps taken by fintech lenders to increase transparency and disclosure.

    The report, Fintech lending to small and medium sized enterprises: Improving transparency and disclosure, analyses the different approaches to disclosure across the fintech industry and makes recommendations on best practice and identifies commitments to action.

  • Ombudsman supports primary producer loan changes

    The Private Member’s Bill introduced by Rebekha Sharkie MP would provide legislated protection to small family businesses in a capital intensive industry, such as farming, Australian Small Business and Family Enterprise Ombudsman, Kate Carnell said today.

    The Banking Amendment (Rural Finance Reform) Bill 2018 was introduced to the Lower House yesterday, requesting greater transparency and longer notice periods when lenders make decisions on the conditions of primary producer loan agreements.

    “During our Small Business Loan Inquiry, we consulted with a number of small business owners involved in primary production,” Ms Carnell said.

  • Sydney’s new light rail system has reached a new milestone with a tram being tested along Alison Road in Randwick for the first time.

    The first phase of testing will allow engineers to monitor how the tram performs and prepare it for operations.

    Testing will initially be carried out at night with the tram operating at low speeds. Daytime testing will start in the coming months.

    Minister for Transport and Infrastructure Andrew Constance said the first tram test for the project was a milestone marking the next phase of the project.

    “We know Sydney customers are going to be just as excited as us when the new trams start running from the CBD to Randwick and Kingsford,” Mr Constance said.

  • Netgear likely misled customers

    Networking equipment manufacturer Netgear will provide remedies and refunds to customers who were misled by its warranty and technical support representations, following action by the ACCC.

    From June 2016, Netgear incorrectly told customers they could not receive a remedy for a faulty product, unless they were covered by Netgear’s manufacturer’s warranty or they purchased a technical support contract.

    “Netgear admits that it is likely to have misled customers about the remedies they were legally entitled to under the Australian Consumer Law,” ACCC Commissioner Sarah Court said.

  • Australians' journeys through life: rich data source now available

    New statistics released by the Australian Bureau of Statistics (ABS) today showcase Australians' journeys through life. 

    With the aim of building a long-term picture of Australian society, the Australian Census Longitudinal Dataset (ACLD) brings together a sample of Census data from 2011 and 2016, to provide new insights into the dynamics that drive social and economic change.

    ABS Data Integration Partnerships Branch Program Manager, Dr Phillip Gould, said the ACLD has great value in showing life transitions of Australians, including movements in and out of the workforce and through the education system. 

  • Sydney education a major international export

    The City of Sydney will work hand-in-hand with government agencies, education providers and businesses to support international students as education has become one of Australia’s leading exports.

    The new program is part of the City of Sydney’s draft international education action plan that includes programs and funding to welcome students to Sydney, promote health and wellbeing services and increase their employability.

    Lord Mayor Clover Moore said the City’s first formal program to support the international education sector would further strengthen global connections and help maintain Sydney’s status as Australia’s leading education destination.

  • ACCC seeking views on news and digital platforms inquiry

    The ACCC is looking forward to hearing the views of consumers, media organisations, digital platforms, advertising agencies and advertisers after today outlining the key issues it will be considering in its digital platforms inquiry.

    As part of its public inquiry into the impact of digital platforms on media and advertising markets in Australia, the ACCC is seeking feedback on:

  • Small Business Ombudsman congratulates new Deputy Prime Minister

    The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, congratulated Michael McCormack on his appointment as leader of the National Party of Australia and Deputy Prime Minister this morning.

    “Michael McCormack was a diligent and committed Small Business Minister, so we are particularly pleased with this outcome.

    “Mr McCormack ran his own small business before entering Parliament so he knows what it’s like, and has great empathy for the challenges and opportunities small businesses face every day.

  • Sale paves way for inner-city childcare and sport

    The sale of a disused depot in Ultimo will help deliver a new childcare centre and multi-use indoor recreational centre for the local community under plans proposed by the City of Sydney.

    Subject to development consent, the purchaser of the 12,000sqm property at 14–26 Wattle Street would be required to build an 80-place childcare centre and a multi-use two-court indoor recreational centre on the site. The developer would transfer stratum ownership of the public facilities back to the City, allowing for important services to be delivered for the local community.

  • ADMA's Data Day brings together the best in data, technology and marketing

    The Victorian Government is proud to be supporting ADMA’s Data Daywhich brings together both local and global leaders across data, technology and marketing to share how they have used data to overcome challenges for maximum business impact.

    The Day, delivered by the Association for Data-Driven Marketing & Advertising (ADMA), includes renowned data leaders including:

  • Consumers urged to fight back against record retailers' margins

    Average petrol prices in Australia’s five largest cities increased significantly in the December 2017 quarter and hit their highest levels since 2015, according to the ACCC’s latest quarterly petrol report.

    The ACCC found that average petrol prices in Sydney, Melbourne, Brisbane, Adelaide and Perth increased by 12.6 cents per litre in the quarter to 135.1 cents per litre.

  • Wages rise 0.6% seasonally adjusted

    The seasonally adjusted Wage Price Index (WPI) rose 0.6 per cent in December quarter 2017 according to figures released today by the Australian Bureau of Statistics (ABS).

    The WPI rose 2.1 per cent through the year seasonally adjusted to December quarter 2017.

    ABS Chief Economist Bruce Hockman said "The annual rate of wage growth has increased for the second consecutive quarter reflecting falling unemployment and underemployment rates, and increasing job vacancy levels."

  • Upgrades to Albert Park Baseball Complex

    The Albert Park Baseball Complex in Lismore will be able to deliver major league games when upgrades to player and spectator facilities are complete.

    Already home to important domestic tournaments, an improved Albert Park Baseball Complex will attract more regional, national and international baseball events to NSW. With more high-profile baseball events, Lismore will see an increase in tourism and economic growth.

    The upgrades will include:

  • Melbourne research finds improved stroke treatment

    World-first research led by La Trobe University in Melbourne has found that injecting human amniotic cells discarded after birth into stroke patients can significantly reduce brain injury and aid recovery.

    Stroke is one of Australia’s biggest killers and a leading cause of disability. Stroke is treatable, however treatments are time critical and currently only a limited number of Australians have access. Some of the most recent advancements in ischemic stroke treatment – strokes caused by a clot – can only be delivered within the first few hours of a stroke.*

  • GO NSW Equity Fund makes first investment in agribusiness

    An investment from the GO NSW Equity Fund in a NSW Wagyu beef agribusiness will ultimately breed the largest full-blood Wagyu cattle herd outside of Japan.

    The NSW Government’s GO NSW Equity Fund will take a $3.3 million stake in Stone Axe Pastoral, a Wagyu beef agribusiness in Ebor.

    The investment will allow the business to expand in and around Ebor in regional NSW, establishing the area as a major player in Australia’s Wagyu export industry.

    Deputy Premier and Minister for Small Business and Regional NSW John Barilaro said Stone Axe Pastoral would create 76 full-time jobs over the next five years.

  • Wages rise 0.6% seasonally adjusted

    The seasonally adjusted Wage Price Index (WPI) rose 0.6 per cent in December quarter 2017 according to figures released today by the Australian Bureau of Statistics (ABS).

    The WPI rose 2.1 per cent through the year seasonally adjusted to December quarter 2017.

    ABS Chief Economist Bruce Hockman said "The annual rate of wage growth has increased for the second consecutive quarter reflecting falling unemployment and underemployment rates, and increasing job vacancy levels."

  • ACCC focusses on energy, broadband, net economy and financial services in 2018

    Chairman Rod Sims has today announced the ACCC’s compliance and enforcement priorities for 2018 at a CEDA event in Sydney.

    This year, the regulator will focus on consumer issues in broadband services and energy, competition in the financial services and commercial construction sectors, systemic consumer guarantee issues, and conduct that may contravene the new misuse of market power and concerted practices provisions.