VICTORIA'S most influential employer organisation, VECCI, has called on both major parties to commit to expediting the Port of Hastings development as Victoria currently risks losing over 15,700 jobs and $1.8 billion in economic benefits due to lack of port capacity.

The Port of Melbourne is due to reach capacity in 2025 and a second deep water facility is needed to be in operation by that date to ensure Victoria retains its status as Australia’s freight and logistics capital.

Once the Port of Melbourne has reached capacity the additional shipping activity could be lost to Sydney and Brisbane.

VECCI chief executive Mark Stone said Victoria risks being left behind by competitor states positioning themselves to accommodate larger ships carrying more than 8,000 containers, which cannot currently be serviced at the Port of Melbourne. Brisbane is currently dredging its port to handle larger ships while the Port of Botany in Sydney recently underwent a major expansion of its container facilities.

Mr Stone said Victorian jobs, trade and investment were too important to lose out to interstate interests if Victoria failed to act in time.

VECCI is a strong supporter of expanding the Port of Hastings which will provide a major benefit to key manufacturing businesses in the south-east of Melbourne and important agribusinesses in Gippsland.

The fact that planning and environmental studies are well progressed also means that the Port of Hastings has a distinct time advantage over alternate sites. This is critically important, given the long lead times involved in delivering new port capacity and associated road and rail transport connections.

The Victorian Employers' Chamber of Commerce and Industry (VECCI) is the peak body for employers in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

vecci.org.au

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VECCI Chief Executive Mark Stone has welcomed today’s announcement that McDonald’s will expand its Victorian operations with the opening of eight additional stores, which will create 1,000 new jobs. 

"The $62 million investment will benefit both regional and metropolitan Victoria, particularly youth employment, with the opening of stores in Lucas (Ballarat), Carrum Downs, Craigieburn North, Traralgon East, Clayton South, Langwarrin, Officer and Lara," Mr Stone said.

"This expansion is timely, as as the Victorian economy continues to undergo change it is important that there is a focus on the success of sectors with growth potential, such as hospitality. "

In-keeping with VECCI’s advocacy, the State Government has encouraged business expansion by cutting the payroll tax rate to 4.85 per cent and reducing the average WorkCover premium by 2 per cent," Mr Stone said.

"We hope these recent announcements that reduce business costs are the first of many from both major parties in the lead-up to the November state election."

The Victorian Employers' Chamber of Commerce and Industry (VECCI) is the peak body for employers in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

vecci.org.au  

THE peak advocacy body for the resources sector in Queensland has welcomed a new Fitzroy River health report, which shows most reporting areas remained stable or improved over a 12 month period.

Chief Executive of the Queensland Resources Council (QRC) Michael Roche says the Council is a proud member of the Fitzroy Partnership for River Health partnership, which assesses waterway health for the Nogoa, Isaac, Connors, Dawson and Mackenzie river systems, the Fitzroy River estuary and the Keppel Bay marine environment.

The partnership, including 25 organisations from industry, agriculture, mining, government and communities today released its second report card on the Fitzroy Basis, which gave the Basin a ‘C-fair’ grade for 2011-12, the same overall result as the previous year.

‘Using data from more than 945,000 sample results and the best available science, the second Report has again been a significant undertaking,’ said Mr Roche.

‘These results give the clearest picture of the health of rivers, creeks, the estuary and marine environment in the Basin, and we are committed to contributing to the best source of scientific information available on the health of the waterways help guide their management.

‘The partners have invested almost $600,000 to develop the second report card in which results were again scrutinised by an independent science panel, chaired by Professor Barry Hart.

‘With activist groups constantly publishing information of doubtful quality and rigour, it is important that such independent research is carried out so that we can receive a true picture of river health to ensure that we can carefully balance the needs of industry with maintaining a healthy environment.

‘We look forward to the release of the most up-to-date 2012-13 report card by the end of 2014.'

The full 2011-12 report card, reporting area overviews, detailed datasets, additional information, river stewardship and grading information are all available online at www.riverhealth.org.au.

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NEUROLOGIST and stroke specialist, Dr Andrew Wong, will today address delegates at the 2014 Queensland Mining Industry Health and Safety Conference and deliver his keynote presentation titled: ‘Stroke - Keeping Your World Separate from Mine’. 

Dr Wong is Director of Neurology and Stroke at the Royal Brisbane and Women’s Hospital and is also a visiting Neurologist at The Prince Charles Hospital and the Holy Spirit Northside Private Hospital.

Dr Wong has a clinical and research focus on the delivery of high-quality stroke care in a variety of different settings; this includes the emergency assessment and treatment of acute stroke, early prediction of stroke outcome and rehabilitation. His PhD studies involved assessing changes in physiology in the first two days after stroke.

The 2014 QMIH&SC is held at the Townsville Entertainment and Convention Centre and Jupiters Hotel from 17-20 August.

It enjoys the tripartite patronage of industry, mining unions and the Queensland Government and continues to attract the largest number of delegates for any mining safety conference in Australia.

www.qrc.org.au

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TRANSPACIFIC Industries and its subsidiary Transpacific Cleanaway has this morning announced that it has commenced the gradual resumption of waste management services across Australia and will be fully operational over the next week, following discussions with the regulator.

The resumption follows a decision by the company to ground its entire fleet nationally in response to Monday’s tragic accident in Glen Osmond in South Australia.

Transpacific CEO Robert Boucher said: “We have made a strong commitment to all our employees, customers, communities, and shareholders that we will operate our fleet safely and to the standards which we expect of ourselves.

“I would like to thank all our customers for their understanding and the positive way they responded when we took the decision to ground the entire fleet on Tuesday. We will work tirelessly to clear the back log.”

www.transpac.com.au

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STOCKLAND has accepted the offer from Frasers Centrepoint Limited to acquire Stockland’s Australand securities for $4.48 per security plus accrued distribution.

Stockland held a relevant interest in 113 million Australand securities which were acquired at an average price of $3.78 per security. By accepting this offer Stockland will realise a capital profit of circa $80m from its Australand investment.

Stockland Managing Director and CEO, Mark Steinert, said: “We have been disciplined with our investment in Australand with a clear strategic intent and view of value, and are pleased to have achieved a significant profit. We will reinvest this profit prudently into our growth strategy.

“In particular, we will accelerate our expansion into medium density residential and mixed use development, grow our Logistics and Business Parks capabilities, invest in community and our people and accelerate planned system and process enhancements.”

Stockland

Stockland (ASX: SGP) was founded in 1952 and has grown to become Australia’s largest diversified property group – owning, developing and managing a large portfolio of shopping centres, residential communities, retirement living villages, office and industrial assets. Stockland was recognised by the S&P Dow Jones Sustainability Indicies (DJSI) as the Global Real Estate Industry Group Leader for 2013–14 and was also named one of the Global 100 Most Sustainable Corporations in the World at the World Economic Forum in Davos, Switzerland in 2014, for the fifth consecutive year.

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PEAK retail industry body the Australian Retailers Association (ARA) congratulates merchants and their customers on a rapid take-up of PIN as the main form of card payment authorisation in Australia.

At this point of the transition period, with well over 90 percent¹ of Australians now using PIN at the point of purchase, the changeover from signature to PIN has been deemed a success by the industry.

ARA Executive Director Russell Zimmerman said that the messages surrounding the switch to PIN have resonated with merchants.

“We have seen an impressive nationwide embracing of PIN among merchants, retailers and business owners, which will strengthen the security of Australia’s payment system. 

“That said; it’s important for merchants to remember that there are certain credit and debit card exemptions where signing is still the principal form of payment authorisation.

“There are three key exemptions to compulsory PIN authorisation, where cardholders may need to sign and are permitted to do so:
 

1. Australian credit and debit cards without an embedded chip:
   Australian issued magnetic-stripe (mag-stripe) cards without an embedded-chip will still be able to use signature for authorisation. Many of these cards will be replaced with chip-enabled cards by their issuer in the near future. This includes some American Express and Diners Club cards and certain gift cards. 

2. Cards issued outside of Australia:
   Visitors from overseas are not impacted by the changes, so they will use signature or PIN to authorise transactions as they did before. Hence signature will still be a valid form of payment authorisation for most visitors from overseas. 

3. Signature-preferred cards:
   Special limited issue signature-preferred cards are available for Australians with a genuine need to sign. Signature-preferred cards feature a special chip to identify that the card does not require a PIN to complete the transaction; automatically notifying retailers via the POS terminal screen that a signature is permitted.

“As previously advised, contactless transactions up to $100 do not need to be authorised by PIN or signature.The operation of Visa payWave, MasterCard PayPass, and contactless payments from other providers, including American Express, have not changed in light of the move to PIN.

“As the software in POS terminals is progressively upgraded across Australia, there may still be situations where customers are offered the option to sign or PIN. Merchants and customers should follow the prompts on the terminal screen to determine the appropriate authentication method.  However, where possible PIN should be promoted as the primary authorisation method, as the number of places where signature is accepted will quickly reduce over the next few weeks,” Mr Zimmerman said.
 
¹     SOURCE:  Financial institution data.  Figures are based on cardholder behaviour data provided directly from Issuers.
 
Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia. 

Visit www.retail.org.au or call 1300 368 041.
 
About PINwise
 
Being “PINwise” means using a PIN to confirm your identity when you use your credit or debit card to conduct a transaction at a point of sale in Australia.  Using a PIN helps protect against fraud due to lost or stolen cards.  This is because the chances of someone correctly guessing your PIN, which can be from four to six digits long, is very small.  More information can be found at pinwise.com.au

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CHINA’s economy has grown in leaps and bounds over the past decade, creating huge opportunities for Australian businesses – but can it continue down its current path, or will there be change?

Will China's economy see a ‘hard landing’ and what would that mean for its trading partners like Australia? How much progress have China's leaders made in implementing essential market reforms?

What do the changes in China’s growth model mean for different business sectors? Who stands to win and lose from China's changing course?

Today (Monday, August 18), one of the world’s leading China watchers, Professor Patrick Chovanec, will attempt to answer these and many other questions vital to Australia’s economic well-being.

Prof. Chovanec is managing director and chief strategist at Silvercrest Asset Management Group. He is also an adjunct professor at Columbia University’s School of International and Public Affairs (SIPA), where he teaches US-China negotiations.

Prof. Chovanec appears frequently on CNBC, Bloomberg, CNN, Fox Business, NPR, and BBC, and is often quoted in the Wall Street Journal, Financial Times, Washington Post, BusinessWeek, Foreign Policy and other prominent news sources.

Before joining Silvercrest, he was an associate professor of Practice at Tsinghua University’s School of Economics and Management in Beijing, where he also served as chairman of the Public Policy Development Committee for the American Chamber of Commerce in China.

Monday’s event is sponsored by the University of Sydney Business School’s Australia China Business Network, in association with the University of Sydney’s China Studies Centre.

Date:   Monday 18 August 2014

Time:   5- 6pm

Venue: The University of Sydney Business School CBD Campus, Stockland Building, Level 17, 133 Castlereagh Street, Sydney 2000

http://sydney.edu.au/business

Contact: Trevor Watson, 02 9351 1918