Latest news with #AustralianGovernment
Bloomberg
7 hours ago
- Business
- Bloomberg
Australian Bond Auction Draws Weakest Demand in Six Years
An auction of 12-year Australian government bonds drew the weakest demand in about six years amid higher domestic corporate issuances and a period of outperformance. The bid-to-cover ratio — a key gauge of interest — at the auction of A$1.2 billion ($775 million) worth of bonds maturing in April 2037 was 1.98 on Tuesday, according to the Australian Office of Financial Management. That was the lowest since July 2019 for notes with residual maturities of 10 to 12 years, according to Bloomberg calculations.
Perth Now
a day ago
- Perth Now
TRAVEL WARNING: What you need to know if heading to Bali
Aussies travelling to Bali have been told to 'exercise a high degree of caution' following a number of tragic deaths. Smartraveller — The Australian Government's official travel advice service — updated its advice on May 30, warning tourists of an increase in drownings and drink spikings. 'Australians have drowned in coastal areas, due to rough seas and strong rip currents at popular tourist beaches including in Bali. Many beaches are unpatrolled,' the advice stated. 'Drinks may be spiked or mixed with toxic substances. 'Be alert to the potential risks around drink spiking and methanol poisoning through consuming alcoholic drinks. Don't leave food or drinks unattended. Cases of methanol poisoning in drinks have previously been reported in Indonesia, including in Bali and Lombok.' The warning also urged travellers to understand your visa conditions before entering Indonesia, as travellers have been refused entry for having a damaged passport. Damage can include water damage or minor tears and rips to pages. Travellers should also read the Bali Government's 'Do's and Don'ts' for foreign tourists as 'Offensive behaviour that fails to respect local culture, religion, places of worship, and traditional ceremonies can lead to criminal penalties and/or deportation.' The updated advice comes after at least four Aussies died in tragic incidents while on holiday in recent months. In December 2024, 32-year-old Adelaide man Jacob Vennix died after being swept out to sea while on his honeymoon. Less than a month later, three-year-old Sydney toddler Janaa Al Easawi died after being found unconscious in a pool at a villa in Seminyak. In March this year, 39-year-old Anna Maree Blight died when a wave capsized the snorkelling tour boat she was on near Nusa Penida. And just last week, young Aussie FIFO worker Byron Haddow died while on holiday — however his cause of death is still unknown.
Daily Mail
a day ago
- Business
- Daily Mail
Anthony Albanese's government considering a new tax to help Australia acheive its climate targets
Chris Bowen has refused to rule out a possible 'carbon tariff' on dirty cement or steel as he acknowledged that Australia must 'do more' to achieve its climate targets. The Energy and Climate Change Minister was quizzed by the ABC's David Speers about whether he would bring in a carbon tariff. This would see levies placed on carbon-intensive products such as steel, cement and lime imported from abroad and could make the building process more expensive. It is a way of ensuring that Australian companies do not outsource carbon-emitting activities to other countries with less ambitious carbon-reduction targets. 'We have been clear that we want to ensure Australian industry is best placed to compete in a decarbonising world,' Bowen told the program. 'What could be the case is … we look at particular sectors first around cement and lime, [which] are places that we looked at in particular, but I'm not going to get in front of the process… 'We'll have more to say during the course of this term.' The Australian Government appointed Professor Frank Jotzo to lead a review into carbon leakage and what policy options were available to address it. This would see levies placed on carbon-intensive products such as steel, cement and lime imported from abroad and could make the building process more expensive His preliminary report identified cement, clinker and lime as industries in which there was a high leakage risk, while steel, glass and ammonia posed a moderate risk. The European Union has brought in a Carbon Border Adjustment Mechanism, which will imposes a carbon tax on imports from countries with less strict climate policies. Bowen's refusal to rule it out was criticised by the Coalition's new energy spokesperson Dan Tehan. 'Now before the election, Chris Bowen, this arrogant minister, said nothing about carbon tariffs,' he said. 'Yet here he is immediately after the election talking about putting them in place.' Tehan accused Bowen of putting Australia's 'energy security at risk' and putting gas and electricity prices up. 'Now he wants to follow Donald Trump's lead and put in tariffs. What a mess,' he added. Bowen said Australia was 'by and large on track' to meet its target of reducing emissions by 43 per cent by 2030. This is despite figueres last week showing little progress was made in 2024. 'We've never suggested it's a linear line … But with the right approach from government, yes, we can continue to be on track (despite) facing headwinds and challenges from time to time,' he said. Labor was criticised by environmental groups for approving a 40-year extended licence to WA's North West Shelf, the largest oil and gas project in the country. The government has a deadline this year to set its 2035 emissions reduction target.
Malay Mail
2 days ago
- Business
- Malay Mail
China accuses US' Hegseth of ‘vilifying' remarks at Shangri-La Dialogue in Singapore
BEIJING, June 1 — China has protested to the United States over 'vilifying' remarks made by Defence Secretary Pete Hegseth, the foreign ministry said today, while accusing it of deliberately ignoring calls for peace from regional nations. China has objected to Hegseth calling it a threat in the Indo-Pacific, the ministry added, describing his comments at the Shangri-La Dialogue in Singapore yesterday as 'deplorable' and 'intended to sow division'. 'Hegseth deliberately ignored the call for peace and development by countries in the region, and instead touted the Cold War mentality for bloc confrontation, vilified China with defamatory allegations, and falsely called China a 'threat',' the ministry said on its website. 'The United States has deployed offensive weaponry in the South China Sea and kept stoking flames and creating tensions in the Asia-Pacific, which are turning the region into a powder keg,' the ministry added in the statement. Hegseth had called on allies in the Indo-Pacific region, including key security ally Australia, to spend more on defence after warning of the 'real and potentially imminent' threat from China. Asked about the call to boost defence spending, Australian Prime Minister Anthony Albanese said his government had pledged an extra A$10 billion (RM27.4 billion) to defence. 'What we'll do is we'll determine our defence policy,' he told reporters today, a transcript of his remarks showed. As part of Washington's longstanding defence ties with the Philippines, the US military this year deployed Typhon launchers that can fire missiles to hit targets in both China and Russia from the island of Luzon. China and the Philippines contest sovereignty over some islands and atolls in the South China Sea, with growing maritime run-ins between their coast guards as both vie to patrol the waters. The ministry also warned the United States not to 'play with fire' on the Taiwan question. In his speech at Asia's premier forum for defence leaders, military officials and diplomats, Hegseth said any attempt by China to conquer Taiwan 'would result in devastating consequences'. China has vowed to 'reunify' with the separately governed island, by force if necessary. Taiwan's government rejects Beijing's sovereignty claims, saying only the island's people can decide their future. — Reuters
9 News
3 days ago
- 9 News
Families 'angered' as Laos hostel manager opens new resort months after six people died
Your web browser is no longer supported. To improve your experience update it here EXCLUSIVE: The manager of the Laos backpackers hostel where six people, including Melbourne teenagers Holly Bowles and Bianca Jones, died of methanol poisoning has opened a luxury resort. 9News spoke to the former manager of Nana Backpacker, known as Pikachu, who confirmed his connection to the 4-star hotel in the heart of Vang Vieng's party district. The manager of the Laos backpackers hostel where six people, including Melbourne teenagers Holly Bowles and Bianca Jones (pictured), died of methanol poisoning has opened a luxury resort. (9News) He said it will be opening in the coming months, but a quick search of online booking websites shows there are rooms available to stay in from tonight. The revelations are another blow for the Australian families and their search for justice. "As parents of Holly and Bianca we are angered at the recent news from Laos," the families said in a joint statement. "We are disappointed in the Australian government as we are again the last to know." Laos police are understood to have recommended charges against 13 people from Nana's Hostel and a distillery. It is now up to local prosecutors to decide whether they will proceed with the case. Referring to the investigation into the deaths Pikachu said: "It's very bad for the police in Laos checking everything." The Australian families of the victims say they are 'angered' by the news as they wait for justice (9News) The Department of Foreign Affairs and Trade said its officials "remain engaged with Laos authorities to reinforce our expectations for a transparent and thorough investigation". (9News) He maintains he and his staff at the backpackers did nothing wrong. He told 9News they have now been freed and "some are home... and nobody is working right now." In a statement, the Department of Foreign Affairs and Trade said its officials "remain engaged with Laos authorities to reinforce our expectations for a transparent and thorough investigation". "The Australian Government will continue to do everything possible to assist Holly and Bianca's families, and to reduce the risks of a tragedy like this happening again," a DFAT spokesperson said. national Australia Victoria national Laos Poison CONTACT US Property News: You can only access this beach shack at low tide.
