Former Goldman Sachs banker announced as new ASIC boss

The Federal Government has scrambled to appoint former Goldman Sachs banker James Shipton to replace Greg Medcraft as chairman of the Australian Securities and Investments Commission (ASIC). Financial Services Minister Kelly O’Dwyer said Mr Shipton brings more than 20 years’ experience to the corporate regulator after roles at Goldman Sachs as a managing director and…

Grazier says mega-mine could ruin water

HAVING lived his whole life on the land, grazier Bruce Currie is determined to leave the country he’s farmed in better shape for future generations. But he’s worried Adani’s planned Carmichael mega-mine will have irreversible effects on the only source of fresh water for much of inland Australia. Mr Currie said it was uncertain what…

Palaszczuk Government resume Emerald farmland for Adani rail link

THE State Government has resumed 3568ha of agricultural land for Adani’s rail line from the planned Carmichael Mine to Abbot Point. The decision was Gazetted last week and has angered a farm group partly backed by the Tim Flannery-led Climate Council. Land resumptions are a normal part of any infrastructure project and Adani said it…

Up to 84pc of tomatoes left in field due to supermarket demands

Tomato waste at rotten levels as up to 84 pc of crops left in field due to supermarket demands Supermarket demands for unblemished fruit has led to a high level of waste in the tomato industry, researchers say. A study from the University of the Sunshine Coast has found 70–84 per cent of undamaged, edible…

Canberra chooses Thai-owned company as the first beneficiary of $5bn fund – Northern Australian Infrastructure fund

The first company to receive support from the federal government’s $5 billion Northern Australia Infrastructure Fund is substantially owned by Thai interests, including what appears to be the brother of the country’s former finance minister. The Australian yesterday ­revealed the private company Onslow Marine Support Base had been recommended by NAIF for an $18.6 million…

Sydney more Asian than European

CHINA has overtaken England and New Zealand as the most popular country of birth in Sydney, according to the latest Census, released by the Australia Bureau of Statistics today. 4.7 per cent of the Greater Sydney population comes from China, followed by England on 3.1. Nationally, 1.3 million new migrants have come to Australia since…

Kangaroo Island crayfish farm sold to Chinese investors

The investment arm of Chinese government-backed miner, Shandong Geo-mineral, has snapped up the 289 hectare Andermel Marron Farm on Kangaroo Island for more than $1.6 million. Australian marron, a native of south west of Western Australia, is the largest commercially-grown fresh water crayfish. Established in 1997 by John Melbourne, Andermel includes numerous ponds for breeding and growing marron for domestic markets as well as an…

Chinese property buyers in Australia ‘have not stopped’

Chinese investment will continue to flow into Australia’s housing market despite tighter mainland capital restrictions, with real estate portal Juwai predicting levels will peak again despite a near-10 per cent fall in inquiries earlier this year. Inquiries on the website for Australian property from potential Chinese buyers have fallen 9.7 per cent in the first…

Australia’s largest domestic abattoir to close

Churchill company director Barry Moule said the facility was the largest domestic abattoir in Australia but it had been hit hard by cattle shortages and high prices. Workers became worried when the owners let it be known they were looking for a buyer, possibly Chinese, to acquire the troubled abattoir and upgrade it from Australia’s…

China now owns 10 times the amount of Australian farm land it did last year

The amount of Australian farm land owned by Chinese interests has surged tenfold in the past year, climbing above 14 million hectares or 2.5 per cent of all agricultural land. The findings from the Australian Tax Office’s Agricultural Land Register, released this week, show the UK and China are the largest owners of foreign-held land in Australia, owning…