Australian Financial News

Something has finally come from Howard Marks’ trip Down Under, some 11 months after the legendary investor arrived from the United States.

Before the tax leaks scandal broke this year, PwC was the dominant professional services group in the country.

Washington | Australian tactical boat builder The Whiskey Project (TWPG) is seeking to raise $20 million for an expansion into the US to buildhighly specialised craft for US defence force use in shallow waters.

Australian woman's brain was found to harbor a live 8cm (3in) worm, a never-before-seen phenomenon in human medicine. This unprecedented event, detailed in the Emerging Infectious Diseases journal, marks a monumental leap in our understanding of parasitic infections and the intricate relationship between animals and humans.

AFP, Following the woman's struggle with memory lapses, perplexed doctors conducted an MRI scan. The scan revealed an unusual abnormality at the frontal part of her brain, leading to the astonishing discovery of an eight-centimetre (three-inch) roundworm known as Ophidascaris robertsi. AFP noted that researchers have clarified that this type of roundworm is commonly found in kangaroos and carpet pythons but not in human beings.

Australian Pacific Coal, which saw Nathan Tinkler, Matt Latimore and the Paspaley family lock horns in a heated takeover battle last year, was out pitching a $12 million equity raising to investors on Tuesday morning to restart its Dartbrook mine in Hunter Valley.

The CEO of Australian crypto exchange Independent Reserve says it has turned to payments giant PayPal to hedge against increasing bank restrictions against crypto exchange payments.

Australian Venue Co, the operator of dozens of hotels and bars including The Esplanade in St Kilda and Bungalow8 and Cargo in Sydney, will be acquired by PAG Asia Capital for around $1.4 billion, sources said.

international trade and investment to help create more jobs, and address slowing global growth," he said in his statement, adding that he will also advocate for Australia’s trade interests, including to reinforce G20 support for a strong rules-based multilateral trading system with the World Trade Organization at its core. He also said Australia will continue to work closely with India in support of its G20 presidency.

Operating in a ring-fenced environment and involving a digital currency that is a real claim on the Reserve Bank, 14 pilot projects with a range of industry participants investigated potential CBDC use cases. The various use cases explored in the project highlighted a range of areas where tokenised money could add value, reports the RBA, including by facilitating programmable payments, atomic settlement in tokenised asset markets and offline payments. The project also highlighted opportunities for CBDC to support the development of new forms of privately-issued digital money, including tokenised bank deposits or CBDC-backed stablecoins. "In this sense, a CBDC could be viewed as an enabling complement to, rather than substitute for, private sector innovation," notes the central bank. However, the project highlighted the need for further analysis of the legal underpinnings for a CBDC, as well as consideration of the regulatory frameworks that could apply to any new business models that may arise.

Australia's central bank has completed it's pilot of a central bank digital currency (CBDC) exploring use cases for a potential e-AUD, finding its useful in four main areas including enabling complex payments and asset tokenization.

If the last few years have taught us anything, it’s that businesses must constantly adapt and evolve in order to keep ahead of the competition. While the broader macro environment has led many businesses to shift their focus from raw growth to profitability, that doesn’t mean they can stop focusing on customer growth altogether.

₹1,000- 2,500 crore. “This milestone aligns with our strategic goal of expanding in geography and client base underscoring our commitment to extend the concept of modularization to onshore projects," Subramanian Sarma, whole time director and senior executive vice president, energy, L&T, said.

US insurance broker giant Marsh & McLennan is nearing an agreement to acquire Australia’s Honan Insurance, according to people familiar with the matter.

Australia-based cryptocurrency lender, Helio Lending Pty Ltd, has been handed a non-conviction bond after falsely claiming to hold an Australian credit license. 

By Lewis Jackson and Praveen Menon

By Lewis Jackson and Alasdair Pal

Australia has managed to cut down the wait time of many of its popular visas to days, including student visas and temporary skilled visas. «The Department is streamlining Australia’s visa systems and process leading to big reductions in average visa processing times across a number of categories,» the Australian Department of Home Affairs said in a statement earlier this month. According to the statement issued on social media, Student Visas are now being processed within 16 days and Temporary Skilled Shortage 482 visas within 21 days. The Student Visa was taking up to 49 days to be processed at the start of the year. Moreover, the Employer Sponsored Skilled program: healthcare and education and Working Holiday visa (outside of Australia) are being processed within a day.

By Navya Mittal

Anthony Albanese has confirmed his participation in the upcoming G20 summit to be held in New Delhi next month Albanese will be among leaders of G-20 nations who are scheduled to attend the G-20 summit under India's presidency in New Delhi this September. The G20 is the world's preeminent forum for global economic cooperation. Leaders will focus on navigating the global economy back to strong, sustainable and resilient growth, according to a statement by the Australian PM's office.

PTI as saying, "As you are aware the theme of our G20 Presidency in English is -- One Earth, One Family One Future. This is based on our civilisational ethos of 'Vasudhaiva Kutumbakam' which has received widespread support and permeates many of the initiatives that India has brought onto the G20 agenda," Moreover, Prime Minister's principal secretary P K Mishra while speaking after the second meeting of the Coordination committee of India's G20 Presidency had said that a total of 185 G20 related meetings, including 13 at the ministerial level, have been concluded covering almost all states and union territories in the country.