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Invest In Australia News::

  • Noma is in residence

    For some in the jet-lagged culinary crew, including Redzepi’s wife Nadine Levy-Redzepi, the Harbour City celebrations were the back-drop for much-needed sleep. For the others, the sky-show was a calendar alert for serious business ahead – pulling together the menu for the much-awaited opening of the incredible project known as Noma Australia.

    First service at the restaurant “residency” is on January 26, Australia Day. While it may surprise those unfamiliar with Noma’s stringently local focus, the menu will be a uniquely Australian showcase.

    TASTING AUSTRALIA

  • Works start on Gympie Aquatic Recreation Centre

    Construction has begun on the Gympie Aquatic Recreation Centre (ARC)—a $22.25 million project to meet community demand for a local recreation facility that can host regional competitions, training and lap swimming, indoor community programmes and leisure activities.

    Deputy Prime Minister, Minister for Infrastructure and Regional Development and Federal Member for Wide Bay Warren Truss, who was on-site today to turn the first sod, said the Australian Government had committed $5 million to the project through the National Stronger Regions Fund.

    "The Fund will provide $1 billion nationally over five years and is targeted to support projects like this one that deliver strong economic outcomes and boost liveability," Mr Truss said.

  • New Instrument Landing System approved for Gold Coast Airport

    The Australian Government has approved an application from the Gold Coast Airport to install an Instrument Landing System (ILS) at the airport.

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss said the installation of an ILS on runway 14 at Gold Coast Airport would be an important addition to the national navigational aid network.

    "The ILS is a well-established, reliable navigational aid available at most international airports and at 27 other locations around Australia. All commercial pilots are qualified to fly an ILS approach and all Regular Public Transport (RPT) aircraft are equipped with the required avionics," Mr Truss said.

  • Enhancing trade and investment ties across the Middle East

    The Australia Unlimited Middle East North Africa (AU MENA) 2016 promotion will showcase Australia’s capabilities across various industry sectors and enhance investment and education links with the region.

    Now in its fourth year, AU MENA 2016 will be held in the UAE, Qatar, Kuwait, Saudi Arabia and Egypt, from 24 January to 1 February 2016. It is the first time Egypt has been included in the promotion.

    Senator Richard Colbeck, Minister for Tourism and International Education and Minister Assisting the Minister for Trade and Investment, will officially open and participate in AU MENA 2016 - Australia’s premier promotional event in the Middle East region.

  • Australian Government General Government Sector Monthly Financial Statements December 2015

    Key Points

    • The underlying cash balance for the 2015-16 financial year to 31 December 2015 was a deficit of $35,488 million.
    • The fiscal balance for the 2015-16 financial year to 31 December 2015 was a deficit of $28,529 million.
    AGGREGATES
    ACTUAL
    2015-2016
    December
    $m

    ACTUAL
    2015-2016
    YTD December
    $m
    MYEFO Profile
    2015-2016
    YTD December
    $m
    MYEFO
    ESTIMATE*
  • Adoption of FinTech among digitally active consumers could double within next 12 months

    • 15.5% of digitally active consumers currently use FinTech products
    • Payment services are the most popular product offering
    • FinTech users are younger, wealthier and increasingly urban

    The level of financial technology (FinTech) adoption among consumers is set to grow significantly in the next year, according to the results of EY’s inaugural FinTech Adoption Index.

  • A$250 million Biomedical Translation Fund to bridge gap between commercialisation and research

    The A$250 million Biomedical Translation Fund, announced by the Australian Government in late 2015, will invest in promising biomedical discoveries, help bridge the gap between research and commercialisation, and create more opportunities for foreign investors to access Australia’s expertise and discoveries.

    While Australia is a world leader in health and medical research, the challenge has always been to translate success in the laboratory into success at the hospital bedside.

  • "Topic(s): World Economic Forum, commodity prices, China, tax reform"

    EMMA ALBERICI: Should Australians be worried about the rocky financial outlook for the coming year? Finance Minister Senator Mathias Cormann is attending the annual world economic Forum in the Swiss resort of Davos and joins us now by telephone. Good morning - or good evening to you I should say - Senator Cormann.

    MATHIAS CORMANN: Good morning Emma.

    EMMA ALBERICI: Tell us first of all what's on your schedule while you are there in Davos?

  • A$2 billion invested in North West Shelf

    A multi-national joint venture has been given the go-ahead for a US$2 billion investment in a subsea development at the North West Shelf Project, located about 125 kilometres north-west of Karratha off the Pilbara coast in Western Australia.

    The project, called the Greater Western Flank Phase 2, will develop 1.6 trillion cubic feet of raw gas using subsea infrastructure and a 35 kilometre, 36 inch pipeline that connects to an existing platform.

  • More international retailers to target Australian market in 2016

    20 January 2016: Thirty-nine of the world’s top 250 retailers now operate in Australia, up two from last year, according to the 2016 Global Powers of Retailing report from Deloitte. And Australia is set for further international retailers to enter its retail market in 2016. The 19th edition of this annual Deloitte report identifies the 250 largest retailers globally by revenue and examines current global trends and economic prospects in retail.

  • US investment in Queensland agri-tech

    The United States private equity firm, Paine & Partners, has invested in a majority stake in Queensland bio-pest control company, AgBiTech.

    AgBiTech, a leading producer of environmentally safe pest management solutions, has developed a series of innovative products that use biological control mechanisms against insects and arthropods that inflict major damage on important crops.

  • Fighting $40bn food fraud to protect food supply

    • PwC and SSAFE release tool for food companies to assess fraud vulnerabilities
    • Released ahead of the GFSI’s new global food safety requirements 
    • Food fraud is an estimated US$30 to $40 billion global problem 

    PwC has joined forces with leading not-for-profit food safety agency SSAFE to develop a new industry tool to help fight food fraud and protect consumers.

    SSAFE and PwC say the free tool – developed in partnership with Wageningen University, VU University Amsterdam and food industry leaders around the world – will help food companies assess their food fraud vulnerabilities. Food fraud is estimated to cost the global industry US$30 to $40 billion a year .

  • Touch commerce, intuitive software, mobile games, internet speeds

    19 January 2016: In 2016 touch commerce is set to boom according to Deloitte, with the number of individuals using touch-based payment services on their mobile device increasing 150%. “We predict that being able to use your fingerprint or a couple of touches on screen to authorise a secure payment from your mobile device will accelerate by 150% globally in 2016,” said Deloitte National Media Lead Partner Clare Harding.

    “We expect this to transform the overall mobile shopping experience and have a big impact on online buying.

  • Touch commerce, intuitive software, mobile games, internet speeds

    19 January 2016: In 2016 touch commerce is set to boom according to Deloitte, with the number of individuals using touch-based payment services on their mobile device increasing 150%. “We predict that being able to use your fingerprint or a couple of touches on screen to authorise a secure payment from your mobile device will accelerate by 150% globally in 2016,” said Deloitte National Media Lead Partner Clare Harding.

    “We expect this to transform the overall mobile shopping experience and have a big impact on online buying.

  • A$30 million funding for industry-led Cyber Security Growth Centre

    Cyber security is crucial for everyone in today’s digital world. The cyber security market reflects this need: currently worth around US$71 billion worldwide, it is growing at the rate of eight per cent each year.

    Attacks on Australia’s cyber network cost the country billions of dollar annually, and with new threats constantly emerging, effective cyber security necessitates that researchers, industry and governments work closely together.

  • Working capital key to unlocking ‘cash’ for mining companies

    A sharper focus on improving working capital performance across the mining sector has had mixed results so far, according to a new EY report.

    Make working capital work for you. Unlocking ‘cash’ in the mining sectoranalyses the working capital performance of 80 of the largest mining companies globally, and is a follow-up to EY’s report, Cash in the ground: working capital management in the mining sector.

  • Australia’s economy is OK - but our Federal Budget isn’t

    • Good news, bad news. The global growth story remains a patchy one. The US is growing fast enough to be an increasingly powerful force for good in global prospects, but China’s slowdown is gathering pace, and for global growth that is an essentially matching offset to the good news generated by the US. We don’t see that tug-of-war shifting notably in the shorter term. That cements in place the current phase of better news around accelerating growth in the rich world at the same time as it underscores increasing challenges for growth in some major emerging markets.
  • Round Three now open for National Stronger Regions Fund

    Applications are now open under Round Three of the $1 billion National Stronger Regions Fund for funding priority infrastructure projects in disadvantaged regional communities.

    Acting Prime Minister and Minister for Infrastructure and Regional Development Warren Truss said Round Three is open to submissions from local governments and not-for-profits from today until 15 March 2016.

    “As in previous rounds, I encourage applicants to put forward projects that demonstrate strong economic outcomes and address identified disadvantage, to give themselves the best opportunity for success,” Mr Truss said.

    “Funding will be targeted to projects which deliver strong outcomes for local communities.”

  • Helping early school leavers into jobs

    Young Australians aged 15 to 21 years, who haven’t completed Year 12 will need to continue their education or look for work to receive Youth Allowance, under the Engaging Early School Leavers initiative now underway.

    Minister for Employment Senator Michaelia Cash welcomed the initiative and the outcomes it will deliver for at risk young job seekers.

    “There is strong evidence that young people who disengage from education or the labour market are at risk of long term unemployment,” Minister Cash said.

    The initiative is part of the Australian Government’s Youth Employment Strategy, announced in the 2015-16 Budget. By requiring early school leavers to study or look for work, we can improve their chances of finding long term employment.

  • There’s still time left to have your say on country of origin food labelling

    Consumers and businesses are being urged to have their say on the Government’s proposed country of origin labelling reforms before the consultation period closes on 29 January 2016.​

    The Consultation Regulation Impact Statement, which was released late last year, outlined the issues to consider when implementing the new reform agenda for country of origin food labelling in Australia.

    The Minister for Industry, Innovation and Science, Christopher Pyne, said he wanted consumers and businesses alike to have the chance to provide feedback and opinion to ensure the reforms are based on the best information available.

  • December Labour force statistics

    Minister for Employment Senator the Hon Michaelia Cash said today’s release of the December labour force results confirms the underlying strength in the jobs market with full-time employment standing at a record high of 8,228,700.

    Minister Cash welcomed today’s announcement that the unemployment rate remained steady at 5.8% highlighting the success of the Government’s economic credentials and its commitment to creating more jobs for all Australians.

    Today’s data clearly reflects a steadily improving labour market and highlights the need to continue with the Coalition’s plan to strengthen the economy and stimulate further jobs growth.

    Total employment increased by 301,300 over the 2015 calendar year, the largest rise recorded since the 2006 calendar year.

  • New lease accounting standard brings added transparency to balance sheet

    A new lease accounting standard published by the International Accounting Standards Board (IASB) will bring added transparency to the balance sheet of Australian companies, says KPMG. 

    The new standard requires companies to bring most leases on-balance sheet, recognising new assets and liabilities. At present, many analysts adjust financial statements to reflect lease transactions that companies hold off-balance sheet. 

  • Deloitte 2014 TMT Predictions: Wearable to rise and Phablets to outsell tablets

    New York, 14 January 2014 — The top global technology, media, and telecom trends for 2014 include the 10 million unit year for wearable technologies; 50 million homes doubling up on pay-television (TV); the global value of premium sports video rights increasing 14 percent led by North American sports leagues and European football (soccer); and a potential upsurge of eVisits according to Deloitte Touche Tohmatsu Limited’s (DTTL) 13th edition of the Global TMT Predictions released today.

  • Detailed design contracts awarded for major work to finish Woolgoolga to Ballina upgrade

    Four firms have been awarded contracts for the detailed design of major work on the remaining sections of the Woolgoolga to Ballina section of the Pacific Highway upgrade.

    Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss said the design work has been divided into four sections to fast-track construction—ensuring the final 155 kilometre section of the Pacific Highway upgrade opens to traffic by the end of the decade as promised.

    “With major work advancing across the first 26 kilometres between Woolgoolga and Glenugie, the focus is now on preparing the remaining sections for major work,” Mr Truss said.