Shaping the National Quantum Strategy
The Albanese Labor Government is seeking views to shape the National Quantum Strategy to position Australia as global leader in quantum research and applied technology. The strategy will ensure Australia seizes the immense opportunity that quantum presents for the country and will set out the new Government’s vision – to have a thriving quantum industry…
Jim’s Group pays penalties for alleged breach of Franchising Code
Jim’s Group Pty Ltd has paid $24,420 in penalties in its capacity as franchisor of the Jim’s Dog Wash franchise after the ACCC issued it with two infringement notices for an alleged contravention of the Franchising Code of Conduct, and an alleged contravention of the Australian Consumer Law (ACL). The first infringement notice related to…
China software sector sees revenue growth
China’s software industry reported a 9.8-percent year-on-year increase in business revenue in the first eight months of the year, according to official data. Revenue of this sector totaled 6.44 trillion yuan (about 907.07 billion U.S. dollars) from January to August, data from the Ministry of Industry and Information Technology shows. Companies in the sector raked…
New milestone for Northern Endeavour decommissioning
The decommissioning of the Northern Endeavour floating production storage and offtake facility has reached a significant milestone with contractor Petrofac Facilities Management Limited taking operational control of the facility. Minister for Resources and Northern Australia Madeleine King said Petrofac has begun Phase 1 of the decommissioning process, which will see the Northern Endeavour disconnected from…
RMB settlements with Belt and Road countries up in 2021
China’s RMB settlements with Belt and Road countries stood at 5.42 trillion yuan (763.4 billion U.S. dollars) in 2021, up 19.6 percent year on year, according to the central bank. It accounted for 14.8 percent of China’s total cross-border use of RMB in 2021, said a report released by the People’s Bank of China. The…
CommSec morning report Thursday
In US economic data, the ADP employment report showed that private sector jobs rose by 208,000 in September (survey: +200,000). The trade deficit narrowed from US$70.5 billion to US$67.4bn in August (survey: US$67.7bn). The ISM services index fell from 56.9 to 56.7 in September (survey: 56). The employment component of the index rose from 50.2…
Evening markets report Wednesday
Another strong lead from Wall Street overnight, helped the Australian sharemarket extend its gains to a second straight day, with the ASX 200 surging 116.4 points or 1.74 per cent, to 6815.7. The Technology sector (up 3.85 per cent) rose the most, while Consumer Staples (down 0.04 per cent) was the only sector to finish…
ACCC internet sweeps target greenwashing
The ACCC has today launched two internet sweeps to identify misleading environmental and sustainability marketing claims and fake or misleading online business reviews. The sweeps are being conducted over the coming weeks as part of the ACCC’s compliance and enforcement priorities for 2022-23, with the broad aim of identifying deceptive advertising and marketing practices by…
Global demand pushes resources and energy exports to new highs
Global demand for energy is pushing Australia’s resources and energy export revenues to new highs, with an ongoing surge in demand for materials needed for low-emissions technology such as batteries, solar panels and electric vehicles. Minister for Resources and Northern Australia Madeleine King said the Resources and Energy Quarterly publication for the September quarter 2022 forecasts Australian…
China’s bond market further deepens opening-up
As of the end of August, overseas institutions held 3.55 trillion yuan (507.14 billion U.S. dollars), or 2.5 percent, of the outstanding bonds in custody in China’s bond market, according to the central bank. Specifically, their holdings in the interbank bond market amounted to 3.48 trillion yuan. In terms of bond type, overseas institutions held…
