Australia should look at examples from the US in finding private funding for urban rail development because the present model depends on government providing the capital, which it mostly doesn’t have.
Federal treasurer Scott Morrison’s diagnosis of the risks and challenges confronting the Australian economy, as set out in his Bloomberg Address in Sydney, is hard to fault.
Moody’s has reaffirmed Australia’s AAA credit rating, as Malcolm Turnbull seeks to put pressure on Labor and crossbenchers to pass measures to help repair the budget.
Moody’s Investor Services said in a statement on Wednesday that reasons for maintaining the status quo were the expectation that Australia’s “demonstrated economic resilience will endure in an uncertain global environment”; its very strong institutional framework; and stronger “fiscal metrics” than many of its similarly rated peers.
Two big claims underpin attempts to cut penalty rates for Sunday workers in the retail and hospitality sectors: that they are no longer needed or relevant, and that they cost jobs.
Prime Minister Malcolm Turnbull’s first major economic address since the July 2 federal election was, in most respects, the kind of speech one might have expected from a leader who had won with a comfortable margin.
He sounded like a prime minister whose campaign agenda had won widespread support, and who had been rewarded with a significantly increased parliamentary majority.
Treasurer Scott Morrison has decided not to approve a controlling stake for either of two Chinese bidders in Ausgrid, the electricity network in New South Wales. He has cited national security concerns but has refused to be drawn further on the reasons.
In explaining his rejection of the bids, Morrison said, “The only person who’s security-cleared in this room to be able to hear the answer to that question is me.”
China’s state-owned enterprises are becoming increasingly privatised, as government involvement shifts from full control to economic guidance. This means these firms should be treated like any other foreign investor when it comes to buying Australian assets.
A spate of recently released policy documents from state governments in Australia speak clearly of China’s growing economic significance to their future. Each predicts rosy opportunities for two-way investment and a large bounty from inbound tourist flows.
Contained within the action plans are the means to realise these dreams through engagement, building relationships and the development of partnerships in terms, which express a shift from the transactional contact through trade to the interactional contact of service relationships.
What will happen now that the rains have come to many parched beef lands of Queensland? Current high cattle prices and renewed pastures suggest optimism, even good times. Perhaps record exports from the world’s largest beef exporter? If only if was that simple.
While an important indicator of Australia beef prices peaked recently, analysts warned export volumes were likely to fall.
Increasing numbers of young Italians are following in the footsteps of previous generations in migrating to Australia, but up to 40% report feeling exploited at work, and found it difficult to have their skills recognised, new research has found.
Any suggestion that there is a new exodus of Italians to Australia is probably overblown. In broad terms, the Italian share of the Australian Temporary visa program between 2004 and 2015 was a very small 1.5% of the national total.
