Monday, 25 May 2020 Sydney

Invest In Australia News::

  • Victorian virtual reality invention revolutionising children’s healthcare

    A fear of needles is a reality for many children during a hospital visit. Recent award recipient, Dr Evelyn Chan is helping to change that.

    Dr Evelyn Chan has taken out a coveted Women in Leadership Award for championing the use of virtual reality (VR) in hospital settings. Hosted by the BioMelbourne Network, the Women in Leadership Awards are designed to celebrate, honour and profile successful women in the health industry sector.

  • Deloitte confirms Tasmania’s strong economy

    Tasmania continues to be a better place to live than ever before, and today’s Deloitte Access Economics Business Outlook confirms that Tasmania’s economy has continued to perform strongly, supported by good population growth, household consumption, and public and private investment.

    Under the Hodgman Liberal Government’s long-term plan for Tasmania, our state has come a long way after a disastrous period of Labor-Green minority government, which slammed Tasmania into recession.

    This latest report confirms that the state’s economic growth is expected to remain solid.

  • Building skills in the North West

    The Hodgman Liberal Government is committed to creating more opportunities for Tasmanians to start their careers and I welcome the Commonwealth Government’s package of initiatives to support skills training in the North West.

    The $3.15 million package will fund nine initiatives that will deliver training and qualifications for 600 North West Tasmanians required in the growth sectors of agriculture, mining, manufacturing, building and construction.

  • New stadium opens in Western Sydney

    The new Bankwest Stadium in Parramatta will provide guests with state-of-the-art entertainment and sporting facilities.

    he 30,000-seat Bankwest Stadium has the steepest stands in Australia and has been designed to amplify crowd noise, with 360-degree LED screens to create a wall of sound and colour.

    The stadium precinct will also feature children’s play equipment, parkland and new spaces for community events including market days and community movies.

  • Priorities to improve quality of life in NSW

    Providing world-class services and delivering infrastructure that connects communities are some of the new priorities of the NSW Government.

    The new priorities will deliver great opportunities and quality of life for all NSW citizens.

    Key priorities of the NSW Government

  • Skills, building and construction boom in Tasmania

    The Hodgman Liberal Government welcomes the latest building and construction State of the Industry Report which shows how the sector continues to experience boom times, and will be worth around $2.8 billion a year for at least the next two years.

    Importantly we also see continued increases in the pipeline of new apprentices, with 900 apprentices commencing in the building and construction industry in 2017-18, up by a massive 39 per cent from the year before.

  • Nominations Open For Ministerial Agtech Advisory Group

    Nominations are being sought for a new Ministerial AgTech Advisory Group, as part of the State Government’s concerted focus to grow primary industries in South Australia.

    The AgTech Advisory Group will be made up of eight members, including an independent chair, and provide high-level independent advice on the practical application and adoption of technologies and on-farm innovation.

  • Research from 2013 found Australia could support up to 60% electric vehicles using simple and cheap technology

    • Labor plans to introduce targets for 50% of vehicles being electric in government fleets if it wins government.
    • Research shows that with simple changes Australasia can support up to 60% of vehicles nationwide being electric.
    • Expert says the grid will not be overwhelmed if demand management tech is used.

    A leading expert in electric vehicles has struck out at claims Australia’s electric grid could not handle Labor’s 50 per cent electric vehicle target.

  • The Australian dollar jumps to six-week highs

    • The Australian dollar rose strongly across the board on Wednesday.
    • A soft US core inflation report for March, and push back from the RBA on growing expectations about the prospect of a near-term rate cut were the two main factors behind the Aussie’s strength.
    • There’s little on the economic calendar on Thursday, other than Chinese inflation data.
  • Pessimism among Australian property professionals hits new highs

    • Confidence among Australian property professionals has fallen to the lowest level in at least six years.
    • Residential property specialists remain the most pessimistic with views towards sentiment, prices and construction all hitting record lows.
    • Those working in New South Wales and Victoria remain the most pessimistic in the country.
  • Australian inflation look set to weaken further, providing a potential trigger for the RBA to cut rates

    • Australian inflation has been weak for several years.
    • Economists expect it weakened further in the March quarter of this year.
    • Core inflation is expected to move further away from the RBA’s 2-3% target.
    • The RBA has nominated a lack of progress in returning inflation to its target as one catalyst that may warrant an interest rate cut.

    Australian inflationary pressures — already weak

  • Bec-onomics would drive Tasmania back into debt and deficit

    The only question left unanswered from Parliament is how would Rebecca White and Labor fund their proposed $280 million cash splash on an unsustainable, unaffordable 3 per cent public sector wage rise?

    Today in Parliament, Rebecca White effectively argued that the reduction in the national GST pool means we shouldn’t have funded infrastructure, shouldn’t fund election promises that Tasmanians voted for, shouldn’t fund $105 million in additional health spending or fund out-of-home care for vulnerable children.

  • The RBA isn't convinced it needs to cut rates - but markets still think it will

    • RBA Deputy Governor Guy Debelle isn’t convinced that the bank needs to cut interest rates yet.
    • In a speech on Wednesday, Debelle said the bank is waiting for confirmation as to what indicator is giving the correct signal on the strength of the economy — GDP or the labour market.
    • He said the resolution of this uncertainty will be of “crucial importance” in terms of what the the bank will do next.
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  • Australians are suddenly a lot more optimistic about where the housing market is heading

    • Be it the outlook for prices or whether now is a good time to buy, Australians have suddenly become a lot more confident about where the housing market is heading.
    • Views on whether now is a good time to buy a home rose to a four-year high in April, according to the Westpac-MI Consumer Sentiment Survey for April.
    • Sentiment towards the outlook for prices also firmed sharply, although the slim majority remain pessimistic.
    • Other housing ind
  • The budget didn't go down all that well with Australians

    • Australians don’t appear to have been all that impressed with the federal budget.
    • ANZ Bank’s consumer confidence index fell modestly, largely due to weaker readings on current family finances and household spending.
    • Australia’s federal election will be held at some point in May.

    If the Australian government was looking for the federal budget to boost confidence among Australians, it’ll be disappointing with new data released today.

  • Home loan lending rebounds following Australia's banking royal commission

    • Australian home loan lending bounced in February, coinciding with the conclusion of the Banking and Financial Services Royal Commission earlier in the month.
    • The value of new loans to both owner-occupiers and investors rose modestly from January.
  • Foreign investors are piling back into emerging markets in Asia, especially India

    • Foreign investors are piling back into emerging markets in Asia, especially India
  • Australian jobs ads are falling at the fastest pace in over 5 years

    • Australian job ads fell steeply again in March, according to data released by ANZ Bank.
    • In the past, falling job ads have usually signalled that unemployment is likely to increase in the period ahead.
    • While online job ads are falling quite quickly, Australia’s unemployment rate currently sits at 4.9%, the lowest level in eight years.
    • That outcome appears to be more consistent with total job vacancies w
  • The cost to rent a home in Sydney is falling, and increases in most other capital cities are slowing

    • The cost to rent a home in Australia rose marginally in the year to March.
    • Median capital city rental costs actually went backwards, driven largely by a decline in Sydney and further slowdown in Melbourne.
    • Rents in regional areas rose by 1.8% over the year in average weighted terms.
    • With national home prices going backwards, the modest increase in rents saw gross rental yields lift to 4.1% at the end of the March quarter.
  • App developer numbers in Australia have grown 20% in 2 years

    • App developer numbers grow 20.35% between 2017 – 2019, up from 117,000 to 136,000 on the back of broader increases in technology professionals.
    • Government policy and concentration in capital cities are a key source of growth, but more could be done.
    • Exports of computer and information services grew 30% in 2018.

    Australia’s burgeoning tech sector is continuing to grow, with almost 20,000 new app developers hitting the market between March 2017 and Januar

  • Australia coal posts biggest weekly drop in a decade amid weak demand

    Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged with the end of winter and amid worries over the strength of the global economy.

    Coal prices for prompt loading at Australia's Newcastle terminal have lost almost 20 percent since last Friday, dropping to $72 per tonne, their lowest since May 2017, and marking the steepest weekly decline since the global financial crisis of 2008/2009.

    Coal has slumped by 40 percent from a mid-2018 peak of more than $120 per tonne.

  • Plans rejected for massive Apple store at Federation Square

    Heritage Victoria has rejected plans to partially demolish a part of Federation Square in Melbourne to make way for an Apple flagship store due to the area being culturally significant.

    The controversial idea was first announced in December 2017, with construction on the publicly-owned plot anticipated to commence in this year.

  • Facebook says it will block foreign-funded political ads to prevent Australian election interference

    Facebook is placing a temporary ban on political advertising bought by foreign entities ahead of the Australian federal election in May in an attempt to head off potential moves to create unrest and influence voters.

    Foreign entities are not prevented from buying political ads, but Australian law requires all election ads need to clearly identify their source. Facebook joins Twitter in banning foreign payments for political advertising for the election.

  • Australian home loan arrears are low but rising, and Moody's expects that trend will continue

    • The proportion of Australians falling behind on their home loan repayments rose across most parts of the country last year.
    • Arrears in New South Wales hit the highest level in five years, although they still remained below most other areas.