Six thousand new homes on Vic defence land

Thousands of new homes will be built on former defence land in Melbourne that the federal government has released for general sale. The federal government predicts 6000 homes can be built on 128 hectares of former defence land where the old Maribyrnong munitions factory operated during World War I. ‘It’s a very prominent site in…

Beekeepers concerned about risks from imported honey

Australian beekeepers have called on the federal government to investigate the risk posed to the local $100 million honey industry and bee population by the recent jump in honey imports. The Australian Honey Bee Industry Council is concerned imported honey from countries such as China and Mexico could contain live viruses and bacteria that cause…

Foreign investment jumps 29 per cent to $248 billion last year

Victoria has emerged as the focus for overseas buyers of Australian homes, attracting 44 per cent of residential purchases by foreign investors last financial year. NSW, with 32 per cent of residential home purchases, was the second most popular state for an inflow of foreign property investment, according to the Foreign Investment Review Board’s 2015-16…

Chinese buying big in Australian agribusiness

CHINA’S investment in Australian agribusiness has tripled in just one year as China strives to meet rising demand for high-quality food among its growing middle class. In 2016, Chinese companies invested $1.2 billion in Australian agribusiness, three times the investment of $375 million in 2015, shows a report form financial services provider KPMG and the…

Native title amendment the final hurdle for Adani megamine

THE Adani megamine is expected to be signed and sealed within a fortnight and the first of up to 600 workers will start to fill its Townsville office next month. The company is in the final phase of its negotiations and approvals. The last stumbling block is whether Labor will support the native title amendments…

Indian mangoes touch down in Australia for the first time

Mangoes from India have been exported to Australia for the first time, with the inaugural consignment of around 400 trays landing in Sydney this week. Revised protocols have opened the door for Indian imports, with fruit allowed into Australia as long as it has been treated with irradiation prior to export. Perfection Fresh Australia (PFA)…

Turnbull government will sell Badgerys Creek airport on completion

The federal government has confirmed it will sell the second Sydney airport at Badgerys Creek soon after it is built, following the Sydney Airport Corporation’s decision to reject taking on the project because it was too risky. After an announcement by Malcolm Turnbull that the project would now be part of the infrastructure package in…

What Chinese are buying in Australia

THE Chinese continue to pour money into Australian businesses, infrastructure, resources and real estate to the tune of $15.36 billion in 2016. The figure is the highest it’s been since 2008 when Chinese direct investment reached its peak of $21.6 billion, according to a report from KPMG and the University of Sydney. Commercial real estate…