Chinese lining up for Australian agriculture businesses: HSBC

HSBC says asset hungry Chinese businesses are lining up to invest in Australian agriculture because of food production quality and tariff reductions under the free trade agreement between the two countries. The global banking giant is expanding its operations in Australia to play a much bigger role in the sector and to strengthen its connection to…

China an ‘extreme’ threat to Australia: ASIO

China is listed as an “extreme” threat on a secret country-by-country counter-intelligence index compiled by Australia’s domestic spy agency. ASIO’s Deputy Director-General Counter-Espionage and Interference Peter Vickery told parliament today the level of espionage and foreign interference in Australia was now worse than at the height of the Cold War. “We do have examples, current…

Hong Kong group pays $40m for Brisbane’s Emporium hotel

.One of Brisbane’s most iconic ­hotels, the stylish Emporium in Fortitude Valley, has been picked up by Hong Kong’s Ovolo Hotels group in a deal worth about $40 million. Developed 10 years ago by Tony John of the Anthony John Group, the multi-award-winning hotel was sold in an off-market deal by CBRE Hotels national director…

China rejects Murray Goulburn milk, formula

Beleaguered dairy processor Murray Goulburn is blaming administrative errors for the rejection of shipments of its milk and infant formula in China last year, dismissing suggestions it was being punished for bypassing Chinese bidders in favour of a $1.3 billion takeover offer by Canadian giant Saputo. Murray Goulburn confirmed the incidents, which saw as much…

Adani scraps $2b Downer agreement after loan veto

Adani has scrapped a $2 billion agreement to outsource the operation of its controversial Queensland coal mine after the state government killed off a taxpayer-funded loan. Adani has blamed the Queensland government’s decision to kill off a taxpayer-funded loan for its decision to ditch a $2 billion agreement with a major contractor. But the Indian…

Australian political candidates ‘China ties revealed’

The Prime Minister has confirmed reports that ASIO has evidence of links between the Chinese government and Australian political candidates. Campaigning in Bennelong, the Prime Minister was commenting on a report in the Weekend Australian that ASIO has identified around 10 candidates in State and Local government elections with close ties to Chinese intelligence Services….

Farmers in tears after banks take land

At the mercy of the elements Lindsay Dingle thought the life of a farmer was hard enough. Then there was a knock on the door that has brought him 40 months of turmoil. Mr Dingle had a cattle, cropping and fodder property outside of Bundaberg in Queensland for 13 years. In 2011 and 2013 the…

Bindaree Beef wins $30 million court case against Chinese customer

Bindaree Beef’s Chinese government-owned partner in an export deal gone bad has been lashed as “lacking any commercial moral compass” and ordered to pay the Australian company more than $30 million in compensation. The deal between Bindaree and Chinatex, a Chinese state-owned corporation, was sealed in mid-2015 and was supposed to have seen Bindaree kill…

Dutton signs trade deal with China

Immigration Minister Peter Dutton has signed a Mutual Recognition Arrangement with China, in a move aimed at boosting trade between the two countries. Mr Dutton and Minister of China Customs Yu Guangzhou signed the agreement in Canberra today, enabling the countries’ customs and border protection departments to recognise each other’s Authorized Economic Operator programs. Australia…

China will finance Adani mine, insiders say, but it will cost Australian jobs

The Adani Group is close to securing finance for its controversial coal mine and railway project in outback Queensland, with an announcement expected in coming weeks that Chinese state-owned enterprises, banks, and export credit agencies are backing the venture. Australian taxpayers may be let off the hook under the deal, which could mean Adani no…

Foreign ownership surcharge could turn buyers away, agents warn

Foreign investment surcharge could turn buyers away from South Australia, agents warn Real estate agents specialising in overseas investors have warned the South Australian Government the way a new levy on foreign investment in residential property is being applied will damage the state’s reputation as a good place to invest. Treasurer Tom Koutsantonis last week…