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Invest In Australia News::

  • Australias trade with East Asia, the Americas, and the European Union: 2010

    The following geographic statistical publications have just been released are available on the DFAT website:

     

     

    Australia’s Trade with East Asia 2010

     

  • Gary Gray welcomes resumption of live cattle exports by Wellard

    WA Federal Minister and Member for Brand Gary Gray today welcomed the announcement that Western Australian company Wellard Rural Exports will resume cattle exports to Indonesia this week.

    Mr Gray said he expected that approximately 7,000 cattle would be sent from Wyndham to Indonesia from the end of this week, following a decision by the Department of Agriculture, Fisheries and Forestry to issue the company with an approved export plan.

    “The cattle will be sent to two companies in Indonesia which have been audited to check animal welfare standards and the ability to trace the origin of livestock,” Mr Gray said.

  • Apple trade between Australia and New Zealand to commence

    Australia’s Director of Animal and Plant Quarantine has made a policy decision to allow the importation of New Zealand apples into Australia.

    New Zealand had taken a dispute over a 2006 risk analysis to the World Trade Organization and the decision comes after the WTO ruled in November 2010 that Australia’s quarantine measures were not supported by science.

    In considering the WTO ruling, the government decided to review the existing quarantine policy for the three pests that were the subject of the WTO dispute: fire blight, European canker and apple leaf curling midge.

  • China’s Bright Food Ltd finalizing acquisition deal with Australia’s Manassen Foods

    Xinhuanet Monday reported that China’s Bright Food Group Co Ltd, a leading Chinese food manufacturer, is finalizing an acquisition deal with an Australian food distributor in a bid to expand its presence overseas.

    Xinhua quoted a company spokesman Monday announcing the deal, in a move that would see Bright Food create a comprehensive strategic partnership with Manassen Foods Australia Pty.
    The State-owned Chinese company is seeking to boost overseas sales to as much as 30 percent of its total in five years, said the company spokesman, Pan Jianjun.

  • Phosphate Australia Ltd acquires 100% of the historic Tuckanarra gold project in WA

    Phosphate Australia Limited (POZ) announced the acquisition of 100% of the historic Tuckanarra gold project in the prolific gold producing Murchison district of Western Australia. This acquisition includes almost all of the historic workings and all four of the open pits at Tuckanarra that produced a total of around 95,000 ounces up to 1995. The project consists of three exploration tenements and eight prospecting tenements, with a combined area of 270.4 km2.

    These permits are all currently in application and it is anticipated the main tenements will be granted by mid October. Heritage agreements have already been signed with the traditional owner claimant group for the area.

  • Jobs growth continues in Queensland despite tough conditions

    Queensland has recorded over two-thirds of the nation’s jobs growth in July, taking another step towards the Bligh Government’s 100,000 jobs target, ABS employment data revealed today.

    Treasurer Andrew Fraser said momentum had been maintained in tough times with 2,200 of Australia’s 3,000 jobs being created in Queensland.

    “In the midst of global economic uncertainty, this is a strong result that should boost business confidence,” Mr Fraser said.

    “Queensland powered to record a fourth month of consecutive jobs growth since the natural disasters disrupted the 16 month streak from July 2009 to December 2010.

  • EFIC supports Bothar to upgrade Kuwaiti sewerage system

    Export Finance and Insurance Corporation (EFIC), the Australian Government’s export credit agency, has provided a performance bond to support the participation of Bothar Boring & Tunnelling (Bothar) in a KWD (Kuwait Dinar) 2.35 million (approximately AUD8.2 million) subcontract to provide tunnelling services on a sewerage construction project in Kuwait.

    The project is funded by Kuwait’s Ministry of Public Works to upgrade sewerage systems in the Al Firdous and Ardiya areas. The main contractor is the Kuwait Company for Process Plant Construction & Contracting K.S.C. (KCPC).

  • Australian Trade Minister welcomes IAG's China move

    Trade Minister Craig Emerson today welcomed the announcement that Australian insurer Insurance Australia Group Limited (IAG) had agreed to buy 20 per cent of Chinese group Bohai Property Insurance, saying it represented the future of the two countries' commercial relationship.

    "Australia has been a reliable supplier of China's huge mineral and energy needs for decades now," Dr Emerson said.

    "This will not change. But as China transforms its economy towards domestic consumption, Australian companies are being offered a panoply of new investment opportunities.

    "Today's agreement between IAG and Bohai is a pioneer of this diversifying economy."

  • ESPN International Acquires Owners of Footytips.com.au

    ESPN International Monday announced the acquisition of ExtraCorp Pty Ltd, the owners and operators of Australia’s largest sports tipping and fantasy games platform, footytips.com.au.

    Launched in 1997, footytips.com.au offers social tipping competitions across 20 of Australia’s favorite sports, most notably AFL and NRL.  The site has hundreds of thousands of registered users that are highly engaged across online and mobile platforms.

  • Redhill Resources acquires 100% interest in the Gullewa gold project in WA

    Redhill Resources announced Wednesday it has acquired a 100% interest in the Gullewa gold project in Western Australia from Sherwin Iron.

    Under the terms of the transaction, Mutiny Gold, Redhill's joint venture partner in the Gullewa property, paid Sherwin Iron AUD $4.0 million on behalf of Redhill.

    This payment is in line with Redhill's agreement with Mutiny, whereby Mutiny has the opportunity to earn a 70% interest in the Gullewa property, by making a total of AU$9.0 million in payments, plus 70% of replacement bonds to Redhill.

  • Equinix Establishes US$65m International Business Exchange Data Centre in Sydney

    Equinix, Inc., a provider of global data centre services, Thursday announced the phase one opening of its third Sydney International Business Exchange™ (IBX) data centre, known as SY3.
     
    Built at a cost of US$65 million, and located in south Sydney, SY3 provides 1,000 cabinet equivalents of capacity, expanding to 3,000 with subsequent phases. The new IBX significantly increases the company’s Sydney capacity and ability to meet high demand for premium collocation and interconnection data centre services.

    Darren Mann, managing director, Equinix Australia said the company continues to see strong demand for secure and well-connected data centre space in the Sydney market.
     

  • Australian unemployment rate remains low

    Minister for Jobs, Senator Chris Evans said today’s ABS Labour Force figures confirms that Australia’s unemployment rate remains low, at a rate the envy of the developed world.

    Figures released today by the ABS show that the unemployment rate rose by just 0.1 percentage points to 5.1 per cent in July, with the labour force participation rate unchanged at 65.6 per cent.

    With employment remaining steady, declining only marginally by less than 100 in July, the slight increase in the unemployment rate predominantly reflects the continued growth in the labour force.

    “Australia’s unemployment rate remains one of the lowest rates in the industrialised world and stands in stark contrast to our peers”, Senator Evans said.

  • ACCC draft view on arrangements for wheat exporters at Melbourne Port Terminal

    The Australian Competition and Consumer Commission today issued a draft decision on the access undertaking proposed by Australian Bulk Alliance. ABA’s proposed undertaking relates to the provision of access to services at the Melbourne Port Terminal for use by wheat exporters. No existing undertaking applies to this facility.

    “The ACCC’s view is that the overall approach of ABA’s proposed undertaking is likely to be appropriate. However, the ACCC has identified specific aspects where improvements should be made,” ACCC chairman Rod Sims said.

  • Auction system needed for Viterra's South Australian bulk grain port terminals

    The Australian Competition and Consumer Commission has released a draft decision on arrangements for wheat exporters at Viterra’s six wheat export ports in South Australia. The preliminary view is that the introduction of an auction system would address the ACCC’s main areas of concern.

    Viterra had submitted an undertaking that proposed to continue current arrangements. However, the ACCC considered that the continuation of the existing first come, first served system (FCFS) for allocating shipping slots was not appropriate.

    “The ACCC was concerned that current practices result in outcomes that do not benefit Australian wheat growers nor the Australian economy,” ACCC chairman Rod Sims said.

  • ACCC not to oppose the proposed acquisition of P&N by Asahi

    The Australian Competition and Consumer Commission will not oppose the proposed acquisition of P&N Beverages Australia Pty Ltd by Asahi Holdings (Australia) Pty Ltd after competition concerns were resolved by Asahi providing a court enforceable undertaking to the ACCC.

    On 9 March 2011, the ACCC opposed the proposed acquisition of P&N by Asahi after it found that the acquisition would remove P&N as a vigorous and effective competitor in the markets for the supply of carbonated soft drinks (CSDs) and cordial.

    To address these competition concerns, Asahi made a revised proposal to acquire P&N and simultaneously divest P&N’s CSD, cordial and energy drink business to

  • Crimes against International Students in Australia

    A report into the incidence of assault and robbery crimes against overseas students in Australia between 2005- 2009 has been released today by the Australian Institute of Criminology (AIC).

    The Australian Government takes very seriously any allegations that people are being criminally victimised. In 2010 the then Minister for Foreign Affairs, Stephen Smith, announced that the AIC would conduct independent research into crimes against overseas students with particular reference to crime rates against Indian students.

    This is the first major study of its kind in Australia.

  • South Africa’s Emira Property Fund increases its investment in Growthpoint Properties Australia

    The Johannesburg Stock Exchange-listed Emira Property Fund has upped its investment in Growthpoint Properties Australia (Goz), an Australian-listed property REIT, by a further R61.1 million.

    Post the transaction, Emira will effectively own 8.2% of the units in Goz (23.8 million of the total number of units in issue).

    Emira made its first investment in Goz in May last year when it acquired 10.25 million units, or 6.4% of the units in issue, at a cost of R116.6 million after being given regulatory permission to invest a portion of its funds abroad.

  • City of Perth rewards creative business projects through business grants

    Last night nine Perth based businesses received a financial boost when the City of Perth Council approved $140,000 in grants as part of the City’s economic development strategy aimed at supporting new creative business projects.

    The Business Grants Matched Funding policy aims to stimulate diverse inner city commerce by supporting and rewarding local business creativity and pioneering entrepreneurial services.

    This year the City’s Matched Funding grants are targeted at creative industry businesses and projects that activate underutilised spaces.

  • Brisbane Lord Mayor moves to boost economic growth

    Lord Mayor Graham Quirk has established an economic development steering committee to ensure Brisbane is a city of choice for doing business in the Asia Pacific region.

    Cr Quirk said after visiting many businesses across the city in his first four months as Lord Mayor, he understood Brisbane businesses were doing it tough and this had been exacerbated by global events in recent days.

    He said Brisbane Marketing Chairman Ian Klug had been appointed Chairman of a new Economic Steering Committee to engage with businesses to promote economic development and create jobs and prosperity across the city.

  • $558 million fund to deliver real reform and skills for 130,000 Australians

    The Gillard Government today launched a $558 million fund which will provide 130 000 Australians with the opportunity to learn new skills for jobs in sectors suffering from critical skill shortages.

    “The National Workforce Development Fund marks a new direction in training Australians which puts industry at the heart of the process, Minister for Skills and Jobs,” Senator Chris Evans said.

    This Fund recognises that training skilled workers for our economy is a shared responsibility between Government and industry. Together we can boost workforce participation and meet the demand for skilled labour.

  • SapuraCrest to acquire Clough Marine Construction Assets for AU$127 Million

    SapuraCrest Petroleum Berhad Monday signed a conditional agreement to acquire Clough Limited’s marine construction and offshore engineering operations in Australia, UK and US for a cash consideration of AU$127 million (RM400 million).

    The agreement was signed in Perth, Australia, by SapuraCrest Executive Vice-Chairman and President YBhg Datuk Shahril Shamsuddin and Mr John Smith, Chief Executive from Clough.

  • Australia leads the way on APEC structural reform

    Global experts will this week urge developing Asia Pacific economies to identify and implement domestic reforms to boost trade and prosperity across the region.

    The economists will work with policy makers from 19 economies at the APEC Workshop on Structural Reform to be hosted by Australia on 10-12 August in Singapore.

    Trade Minister Craig Emerson has singled out domestic structural reform as a priority for APEC economies.

    "Better functioning domestic markets and institutions across the Asia Pacific region will promote higher productivity and help economies maximise the benefits of open trade and investment regimes," Dr Emerson said.

  • News Limited implements own Reconciliation Action Plan

    News Limited has become the first Australian print news organisation to develop and implement its own Reconciliation Action Plan, setting out an agenda to strengthen and expand its partnerships with Indigenous Australians.

    The plan, which represents a strong commitment to addressing Indigenous disadvantage and promoting effective reconciliation, was launched by the Minister for Indigenous Affairs, Jenny Macklin.

    Ms Macklin said Reconciliation Action Plans recognise that all Australians can work together to build a better future for Indigenous Australians.

    "The Australian Government welcomes the commitment of News Limited to reconciliation," Ms Macklin said.

  • Investment funds announced to grow Australia’s social enterprises

    Social enterprises are set to grow with today’s announcement of an innovative collaboration between the Australian Government and leading social impact investors, which will help the nation’s social enterprises to be more investment ready and financially sustainable.

    Minister for Employment Participation, Kate Ellis, and the Minister for Indigenous Employment and Economic Development, Senator Mark Arbib, today announced the successful funds managers for the Social Enterprise Development and Investment Fund (SEDIF).