Wednesday , November 20 2019
Breaking News


Big profits can fuel bad corporate behaviour, new research shows

Hubris and overconfidence caused by excellent financial performance is a major driver of irresponsible corporate behaviour, according to new research. Di Fan, a senior lecturer at the business school of the Australian National University, said his research showed companies making above-average profits were more likely to breach their environmental or social obligations than run-of-the-mill firms. He said internal corporate governance ... Read More »

Australian sentenced to death in Thailand on drug smuggling charges

Perth man and his Thai wife have been sentenced to death in Thailand on drug smuggling charges. The father of two, 35 year old Luke Joshua Cook, and his wife 40 year old Kanyarat Wechapitak, were arrested at Suvarnabhumi Bangkok in December 2017 following a tip-off from local police, according to Sydney’s. The pair were sentenced to death after they ... Read More »

Australian shipper raps hiked port fees for containers and eyes bulk transport

One of Australia’s largest agricultural shippers has lashed out at “rapid increases” to port infrastructure fees levied by the country’s terminal operators. Last week, a report by the Australian Competition and Consumer Commission (ACCC) revealed how the country’s stevedores are using the controversial charges to offset declining volumes and quayside revenue. As a group, DP World Australia (DPWA), Patrick, Victoria ... Read More »

BMW urgently recalls 12,000 vehicles over airbag safety concerns

Some 12,000 BMW vehicles are being urgently recalled after transport safety authorities identified another Takata airbag that poses a critical risk of death or serious injury, the competition watchdog says. BMW in Australia on Thursday began a voluntary recall of its E46 3 Series cars produced between November 1997 and June 2000. The Australian Competition and Consumer Commission says it ... Read More »

Australia and China vow to work on repairing bilateral relationship

SYDNEY : Australia and China said they will work together to repair their bilateral relationship, tarnished by allegations that Beijing has committed cyber-attacks and has attempted to interfere in Canberra’s domestic affairs. Australian Prime Minister Scott Morrison and Chinese Premier Li Keqiang met on Sunday in Thailand ahead of the East Asia Summit, where both promised to try and improve ... Read More »

Sydney cloaked in ‘hazardous’ smoke as Australia bushfires rage

Sydney residents coughed and spluttered their way around Australia’s largest metropolis on Thursday, as a bank of smoke from rural bushfires enveloped the city, prompting health warnings. Smoke from out-of-control fires to the north of the city prompted health authorities to warn residents with respiratory problems to avoid outdoor physical activity. “If you really want to keep out of the ... Read More »

Pacific ports join Australian network amid growing Chinese presence in region

Five major Pacific ports have joined an Australian alliance to boost industry investment and trade amid growing international concerns over Beijing’s presence and influence in the region. The ports, which include Fiji Ports Corporation, Samoa Ports Authority and the Solomon Islands Ports Authority, have signed up as external associate members of peak industry group Ports Australia to formalise maritime sector ... Read More »

Black Quay draws up South Australia port masterplan

Port operator Flinders Ports expects strong trade growth and an improved position against other Australian ports. The new 50-year masterplan will guide the short, medium and long-term development of the seven South Australian ports under its control It is expected to be one of the most complex and far-reaching port development plans in Australia, taking in multiple commodities across the ... Read More »

ASX plummets at the close; Nufarm jumps 26pc

The Australian stockmarket finished 1.05 per cent higher over the September quarter, notching up its third consecutive quarterly gain as the Australian dollar posted its weakest quarter since 2016. Pacing the quarterly advance in the S&P/ASX200 Index was Western Areas, with the nickel miner surging as the base metal was boosted by Indonesia bringing forward a ban on ore exports. ... Read More »

Investec fund seeks R850m to buy properties in Australia

Investec Australia Property Fund is seeking to raise R850m through issuing 55-million new units, with trading in its share suspended until Friday. The issue price of A$1.52 (R15.36) represents a 3.8% discount to the group’s closing price on Wednesday and will be used to fund three industrial properties located in Perth, Adelaide and Darwin in Australia. The fund listed on ... Read More »

Trump wins big Ohio manufacturing investment from Australia’s Pratt Industries

President Trump welcomed Australian Prime Minister Scott Morrison in Wapakoneta, Ohio at Pratt Industries, along with factory owner Australian billionaire Anthony Pratt, as he touted an “economic revival” of the manufacturing industry with the promise of more foreign investment and a surge in new jobs. “We proudly declare Pratt Industries and the great, great state of Ohio open for business…Pratt ... Read More »

For corporate Australia, climate crusading is simply smart business

Today, the most significant and successful business figure Australia has produced in a generation will be doing something few of his predecessors in that position could have imagined. He will be on strike at a protest rally. Mike Cannon-Brookes, the billionaire co-founder of workplace software provider Atlassian is expected to be among the throng of attendees at a climate action ... Read More »

Diesel cheating: Volkswagen agrees to pay $87.3 million to Australian customers

Volkswagen and a law firm say the German automaker has agreed to pay up to 127 million Australian dollars ($87 million) to settle an Australian class action stemming from its 2015 diesel emissions scandal. The settlement was announced in the Federal Court in Sydney on Monday and has yet to be approved by a judge. Maurice Blackburn law firm says ... Read More »

Achievement unlocked: PM gives two federal department heads another go

Department of Home Affairs secretary Michael Pezzullo and Attorney-General’s Department secretary Chris Moraitis have been reappointed to their respective roles. “I congratulate them both and look forward to continue working with them,” Prime Minister Scott Morrison said in a short statement on Wednesday evening. Both are almost at the end of their five-year terms, which is the standard period of ... Read More »

EU demands Australia scrap taxes on European cars

A European Union trade negotiator claims Australia should remove automotive taxes during latest talks European-made cars could have their prices slashed by up to 38 percent under a new trade deal with Australia if EU trade negotiators get their way. Slashing the 5 percent duty on imported luxury cars and the 33 percent Luxury Car Tax (LCT) on the more ... Read More »

Legal Loophole Allowing Deadly Chemical To Be Imported Into Australia

A legal loophole is allowing a dangerous chemical to flow into Australia with deadly consequences. Liquid nicotine for e-cigarettes can’t be imported without a prescription, but a 10 News First special investigation has revealed authorities are letting it through unchecked. The deadly chemical is a by-product of the vaping craze and it can be lethal. In June last year, a ... Read More »

Australia looks to export lithium, rare earth and coal to India

The new Australian government is looking to expand its trade ties with India in areas other than from thermal coal, where it is confident that the demand will remain robust. The country is looking to export lithium for electric vehicles, rare earth for high-tech renewable component, and high-quality coal, said Matthew Canavan, the Australian minister for natural resources. “India and ... Read More »

Three finalists in India Australia Business and Community Awards

The India Australia Business and Community Awards celebrate the Australia-India relationship and honour entrepreneurship and community leadership. The awards have run annually since 2013, and raise awareness of Indians in Australia and Australians in India, in a way that encourages further growth in relations between the two countries. Nearly 300 entries across the 12 categories of the awards were received ... Read More »

As Africa’s infrastructure develops, so too does its drug supply to Australia

A gram of cocaine costs $16 in South America, $100-130 in Europe and $330 in Australia – so cocaine producers in South America want Australians to buy their product. The challenge has been getting it to the other side of the world. Until now. A major overhaul of Africa’s ports and roads have made the continent a prime trafficking route. ... Read More »

Beef Imports from Australia Grow Rapidly, Aided by Preferential Lower Tariffs

CHINA – China has substantially increased beef imports from Australia in the first seven months of 2019, reaching the yearly imports quota under the free trade agreement between the two countries four months earlier than expected. The bilateral free trade trade talks may be accelerated as China’s domestic market continues to expand and the country is seeking more trade partners ... Read More »