Latest News from Shfa News
ABC News
4 minutes ago
- Business
- ABC News
Extension of Australia's largest oil and gas project a "slap in the face" for Pacific
The life of Australia's largest oil and gas project will be extended to 2070, with Australian Environment Minister Murray Watt giving the long-awaited environmental approval for the North West Shelf project to be extended beyond 2030. Woodside proposed the life extension to its West Australian gas facility six years ago, and it has sat under assessment since then. On Tuesday, Tuvalu's Climate Minister Maina Talia said the North West Shelf extension "would lock in emissions until 2070, threatening our survival" and undermine Australia's chances at hosting the next global climate conference in 2026 in partnership with Pacific nations. Vanuatu's climate minister said he is devastated by the Australian government's decision to sign off on an extension of Australia's largest oil and gas project until 2070. Vanuatu's Minister for Climate Change Ralph Regenvanu said that the extension of the project is "a slap in the face for Pacific Island countries who have repeatedly called on Australia to stop approving new fossil fuel projects". He continued to say that the approval "severely undermines our national security and sabotages our future. The single greatest thing the Australian Labor government could do to protect our region is to stop opening new coal and gas projects".
South China Morning Post
5 minutes ago
- Business
- South China Morning Post
AS Watson and HSBC have grown together since the very beginnings of Hong Kong
Hong Kong is a renowned commercial and financial hub, and that status can be traced to the 19th century, when early entrepreneurs laid the foundations for the city's success with some of its most enduring household names. Among these is AS Watson, established in 1841 – as The Hong Kong Dispensary, with just a single shop. Over the following decades, the company's significance in Hong Kong grew alongside the city's rapid development. AS Watson was appointed chemist to the Hong Kong governor in 1869, and inspired by the need to have safe, clean water during the plague of the late 1890s, the company established Watsons Water in 1903. Today, as the world's largest international health and beauty retailer, AS Watson Group operates more than 17,000 stores in 30 markets around the globe, with some of the most recognisable brands including Watsons, ParknShop, Fortress, Superdrug and many more. All share a strong focus on customer experience, innovation and community. For Malina Ngai, group CEO of AS Watson, much of the company's success can be attributed to its long-standing partnership with HSBC, the Hong Kong-founded bank which celebrates its 160th anniversary this year. 'The story between AS Watson and HSBC goes back 160 years,' Ngai says. 'In fact, AS Watson appeared on HSBC's very first customer ledger in 1865. I believe that trust, understanding and shared experiences have defined the relationship over the last 16 decades.' Beyond sharing values, both AS Watson and the bank have grown together to become deeply ingrained in Hong Kong society. 'We have been touching the lives of different generations in Hong Kong through our retail offerings … and HSBC has also been part of the everyday life of Hong Kong,' Ngai adds. Together, the two Hong Kong stalwart brands strive to make a positive impact, contributing to a better future for the city and beyond while supporting their customers. 'We're proud to call Hong Kong home, so our shared success has grown from here,' Ngai says. 'For both HSBC and AS Watson, we remain as committed to Hong Kong as ever. It's this shared purpose that strengthens our bond, taking it beyond just business.'
South China Morning Post
7 minutes ago
- Business
- South China Morning Post
Hong Kong stocks jump after US court blocks Trump's ‘reciprocal tariffs'
Hong Kong stocks jumped after a US court blocked President Donald Trump's sweeping 'reciprocal tariffs', fuelling bets global trade tensions will ease. The Hang Seng Index rose 0.6 per cent to 23,385.14 as of 9.58am local time on Thursday, approaching a two-month high. The Hang Seng Tech Index gained 0.5 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both added 0.3 per cent. WuXi Biologics surged 7.3 per cent to HK$25.10 and Kuaishou Technology advanced 3 per cent to HK$53.20 to pace early winners. Alibaba Group Holding added 0.4 per cent to HK$116.20 and Tencent Holdings climbed 0.3 per cent to HK$507.10. The US Court of International Trade in Manhattan ruled on Wednesday against Trump's move to impose tariffs on the nation's trading partner, saying the president overstepped his authority. Twelve US states, led by Oregon, and five American businesses challenged Trump's April 2 move. Other major Asian markets also rose. Japan's Nikkei 225 climbed 1.4 per cent while South Korea's Kospi rose 1.3 per cent and Australia's S&P/ASX 200 added 0.2 per cent.
West Australian
8 minutes ago
- Business
- West Australian
Mladen Ninkov sets Martin Bennett onto Alan McKail as Grant Donaldson attacks Dalkeith welcome
High-flying company promoter Mladen Ninkov is trying to force his new Dalkeith neighbour Alan McKail to remove a pool and patio built in alleged breach of a land title restriction. The scrapping neighbours were in the WA Supreme Court on Tuesday with their legal teams arguing the fate of Mr McKail's mid-2024 backyard works. Mr McKail paid $3.9 million in November 2023 for his Tuscan-styled home property. It is immediately below Mr Ninkov's long-time residence as Waratah Place descends from Victoria Avenue to the Swan River. Mr Ninkov launched the legal action in October last year, after most of the work had been completed by Mr McKail with the help of his partner Leonie Gardner and stepson Ben Gardner. Mr Ninkov gave evidence in support of his application on Tuesday. He was challenged by Mr McKail's barrister Grant Donaldson about his recollection of when he spoke to his new neighbours in April last year and why he did not give them a friendlier welcome to Dalkeith. 'You don't just turn up at the front door with a bottle of champagne,' Mr Ninkov said. Mr Ninkov claims to have had a restrictive covenant over the lower property since 1996. The covenant allegedly requires the owner of Mr McKail's property to seek Mr Ninkov's permission for any works that increase the house's height or create new backyard structures. Mr Ninkov sought advice from his long-time lawyer Martin Bennett on April 9 about his restrictive covenant. A response he received from Mr Bennett that night and about 30 other documents are subject to claims of legal privilege. Mr Ninkov said he sought advice from Mr Bennett because he was worried about 'what they were going to do with the area'. 'These are expensive properties where you want to protect your amenities,' he said. 'There was no harm to check the restrictive covenant to see what it covers me for.' When Mr Donaldson asked why he did not raise the restrictive covenant with his neighbours last April, Mr Ninkov said: 'I always found that if you bring up legal matters, it does not engender good relationships with neighbours.' He flew overseas in early May 2024 for work across Europe and China, and did not return to Perth until early October. The hearing continues on Wednesday.
Scoop
8 minutes ago
- Politics
- Scoop
Luxon Government To Favour Dairy Pollution At The Expense Of Drinking Water
Luxon's Government is once again putting corporate profits ahead of people's health by proposing freshwater policies that will drive more dairy pollution at the expense of safe drinking water and swimmable rivers. The proposed changes to the National Policy Statement for Freshwater Management, announced today, include giving more favour to corporate uses of water like intensive dairy. This fundamentally undermines Te Mana O Te Wai, the framework that prioritises the health of freshwater ecosystems and the health of community drinking water ahead of corporate uses of water. Greenpeace Aotearoa freshwater campaigner Will Appelbe says, "Safe drinking water requires healthy freshwater ecosystems, and that should always be the priority. But today's decision will drive more water contamination, especially in rural communities." "Make no mistake, this will facilitate dairy expansion, and we know what that means for the country. More cows means more pollution from effluent and fertiliser, poisoning waterways with nitrate and nasty pathogens." "Just this year, several new dairy expansion consents have been approved in Canterbury, where many communities are facing a drinking water crisis as a result of nitrate contamination from intensive dairy." "The Government is meant to be protecting the health of communities, not lining the pockets of corporate polluters. We've already seen the influence the agriculture lobby has had over the rollback of freshwater protections last year, and this announcement today demonstrates how much of a hold lobbyists have over Luxon and his Cabinet." "But communities are ready to fight for clean drinking water and swimmable rivers, even if Luxon won't. It's more important than ever that local governments - like Environment Canterbury, which has responsibility over the majority of New Zealand's freshwater ecosystems - step up and take real action to protect lakes, rivers, and drinking water."
