Business News Releases

Open Society announces a $10m emergency fund for Afghan civilians in peril

NEW YORK — The Open Society Foundations has announced the immediate creation of a $10 million Afghanistan emergency fund to support Afghans in grave danger — including champions of human rights, women’s rights, and journalists — by expanding immediate protection opportunities.

The Afghanistan Emergency Humanitarian Fund will help support sponsorship for humanitarian parole programs in the US that provide a pathway to temporary refuge for those in harm’s way.

It will bolster international relief organisations in their efforts to support Afghan citizens fleeing the Taliban advance. And the fund will aid other efforts to deliver humanitarian relief to internally displaced Afghans and those fleeing to other countries taking them in. 

Open Society has invited other donors to join these efforts to address this humanitarian emergency.

“The Open Society Foundations have long worked in Afghanistan to promote human rights, culture, and freedom of expression,” Open Society Foundations president Mark Malloch-Brown said.

“We remain deeply committed to Afghans and their efforts to help the country advance toward a more open society. We call on funders to join us in our response to this urgent humanitarian crisis. There is truly not a moment to waste.”

www.opensocietyfoundations.org

 

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Transurban's 'mortgage on Melbourne' attacked by Barton 

ROD BARTON, the Victorian State Member for the Eastern Metropolitan Region, today claimed that the $3.3 billion budget blowout to Transurban's West Gate tunnel project was further proof of the consequences of privatisation.

He said that as the budget blowout reaches the headlines, Transurban was "vying for sympathy and seeking to share the burden with Victorian taxpayers". 

"We will not forget that this project is already being cross-subsidised through a 10-year extension to tolls on CityLink until 2045 intended to fund the West Gate Tunnel," Mr Barton said.

"Now, Transurban expects Victorian taxpayers to further subsidize its shareholder returns. Transurban put the original proposal to government, they nominated the price, chose the builder and now they must get on with it and deliver on the contractual agreement. 

"Yes, Transurban 'discovered' 3 million tonnes of contaminated soil. There are challenges, but this is not their first rodeo," he said.

"This is a fitting example of why major infrastructure projects need to be government owned.

"These large corporations are in it for the bottom line. It is glaringly obvious that they will use the power they wield across other road infrastructure to hold Victorian taxpayers to ransom," Mr Barton said. 

"We have seen this with the airport rail project where a private consortium including Metro Trains Australia, Melbourne Airport, Southern Cross Station, and superannuation fund IFM Investors put forward a proposal to co-invest. It is clear these players intend to do more than just fund the project. 

"The last thing we need is one consortium controlling airport rail prices, the rate of airport carparks and Transurban controlling the cost of Citylink tolls on the way to the airport. This is a recipe for disaster for Victorian taxpayers," Mr Barton alleged. 

"Transurban has done us no favours. When we asked them to reduce the tolls on family utes unfairly being charged the rate of light commercial vehicles, they said no. When we asked them to apply the same conditions as they do in NSW and Queensland, they said no. When we asked them to reduce toll rates for taxi drivers during the pandemic, they showed no compassion," he alleged.

"Time and again, we build up these big corporates, creating dependencies that allow them to hold Victorians over a barrel. Transurban, it is time to do your job."

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Financial Services Council initiative on super occupational exclusions

THE Financial Services Council (FSC) is initiating a process to consult with the superannuation and life insurance sectors, consumer advocates and other stakeholders with the aim of removing exclusions based on occupational classification within default group life insurance policies in MySuper.

The Federal Government’s ‘Your Future, Your Super’ reforms introduced an important consumer protection to ‘staple’ superannuation members to their fund, so that they take their account with them from job to job.

Stapling was a recommendation of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and the Productivity Commission’s report into the efficiency and competitiveness of the superannuation system. The FSC strongly supported the implementation of stapling as it would prevent the creation of duplicate accounts that cause the erosion of superannuation savings.

In a small number of instances, however, superannuation members can be stapled to a MySuper fund that has default group life insurance that contains exclusions based on occupational classification. In a small number of instances when an employee moves between occupational classifications, at time of claim they may find themselves unable to claim against their default insurance coverage in the MySuper product.

This concern was raised by stakeholders during parliamentary debate and the FSC and life insurance industry agreed that it was in the best interests of consumers to design a solution, now that stapling is legislated to take effect from November 1, 2021.

As part of this process the FSC is seeking feedback on the options outlined in the consultation paper to implement this solution. The FSC said it would also consult with the Australian Competition and Consumer Commission (ACCC), Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA).

The FSC today issued a policy proposal that the life insurance and superannuation industries could implement to address this issue. Stakeholders are being encouraged to provide feedback by Friday, September 3, through This email address is being protected from spambots. You need JavaScript enabled to view it..

The policy proposed is at: https://fsc.org.au/resources/2242-fsc-occupational-exclusions-consultation-paper/file

 

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Parliamentary Committee explores regulation of credit cards and digital wallets for online gambling - big banks decline to appear

AN INQUIRY to investigate and analyse the current use of credit cards and digital wallets to fund online gambling will be held in Canberra on Friday August 13, 2021.

The Parliamentary Joint Committee on Corporations and Financial Services will examine current online gambling behaviours of Australians and whether the use of credit cards and digital wallets is emerging as an area that needs additional scrutiny and possible regulatory or other forms of intervention.

Committee Chair, Andrew Wallace MP, welcomed the announcement of this Inquiry as a means to enable discussion on the current trends in online gambling and whether we are seeing an increase in Australians relying on credit to fund their gambling activity.

“It is important that this Inquiry firstly, has some insight into the prevalence of online gambling in Australia and what emerging behaviours we are seeing in our communities, particularly as many parts of the country are suffering from repeated lockdowns during the COVID pandemic," Mr Wallace said. "We can then begin to analyse the true extent of the issues and explore options for how industry, financial institutions and government, can implement changes to protect Australians from gambling with borrowed money.

“I am keen to hear from the banking sector, who will be represented by the Australian Banking Association (ABA) on the measures they have introduced to empower those Australians concerned at their personal gambling behaviours, to set up limits and website blocks when they feel their gambling is getting out of control,” Mr Wallace said.

This Inquiry will also consider the efficacy and appetite for a mandatory code in the online gambling industry and/or whether there is support for regulatory intervention, possibly via amendments to the Interactive Gambling Act 2001.

“I have made my personal views on gambling with credit cards known many times in my five years as a Member of Parliament. I have consistently stated that if you can’t use a credit card to support gambling in ‘real world’ casinos, clubs and at the track, I don’t believe we should allow it online.

“I am not advocating for a blanket ban on gambling.  If people want to lose their own money, provided they can feed their families and pay their bills, that is a matter for them. 

"What I believe should concern all Australians is when people borrow to fund their gambling habit, exacerbating the social harms that are perpetrated on not just them, but their innocent families as well.  Ultimately, the use of credit to gamble online has cost consequences on families, society, charities and governments who often have to pick up the tab when the 'house' ultimately wins.

“It’s important that the committee closely examines the harms caused by the use of credit cards and digital wallets for online gambling, which remains the only forum legally open to Australians.  It also important the committee makes appropriate recommendations to government as to what actions it should take to remediate those harms.

"The committee would have preferred to include the Big Four Banks, who continue to make considerable profits from credit card interest, in the evidence gathering for this inquiry. However, disappointingly, each of the Big Four Banks have declined to appear before the committee, despite repeated requests, citing competition constraint concerns.” Mr Wallace said.

 

Mining industry health and safety conference rescheduled to August 2022

ORGANISERS of the annual Queensland Mining Industry Health and Safety (QMIHS) Conference today announced that the 2021 event, scheduled to start on August 22, will be postponed.

The four-day, sold-out QMIHS Conference was to be held at The Star Gold Coast, with more than 600 delegates expected to attend.

Conference committee chair, Glencore’s director for underground operations, Darren Nicholls, said the organisers were taking a precautionary approach.

“The resources sector has worked hard to protect our industry and Queensland’s regional communities since the pandemic began last year and we’re very pleased to note that so far we’ve not had a single case of COVID-19 transmission at a Queensland operation,” Mr Nicholls said.

“But we must continue to be vigilant. Given the logistical challenges of putting together an event of this size in the current landscape and taking on board the latest advice from health authorities, our organising committee has put caution before conference and postponed the event.

“It is regrettable, but we will now focus on developing the 2022 conference, which will again be held at The Star from August 21 through to August 24 using the same theme of 'Together We Collaborate, Innovate and Educate'," he said.

“I would like to take this opportunity to thank our sponsors, presenters, exhibitors and conference attendees for their understanding and their enduring support of the conference and we look forward to welcoming them in 2022.”

The QMIHS conference has been held annually since 1989 to exchange information, provide networking opportunities and foster proactive health and safety management.

Further updates on the 2022 conference can be accessed through the conference website, Facebook page and the LinkedIn page.

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Prudential regulation on trade is under the spotlight

THE Trade and Investment Growth Committee is holding a fourth public hearing this Friday for its inquiry into the prudential regulation of investment in Australia’s export industries.

In previous hearings, the committee has heard from representatives of export industries, financial institutions and shareholder groups. The Committee Chair, George Christensen MP, said the committee was looking forward to discussing that evidence with Australia’s financial regulators and government agencies.

"Prudential advice plays an important part in ensuring a healthy and well-functioning financial system. In light of this, the committee is looking forward to hearing about how the Government and regulatory agencies can further support and enable investment in Australia’s export industries, which are so vital to Australia’s economy, particularly in regional areas," Mr Christensen said.

Witnesses include the Australian Prudential Regulation Authority, Reserve Bank of Australia, Australian Securities and Investments Commission and Export Finance Australia.

Public hearing details

Date: Friday, 13 August 2021
Time: 9am – 1.20pm

Due to the public hearing being held by teleconference, public access will be available via the live broadcast at aph.gov.au/live.

Further information about the committee’s inquiry, including the hearing program, is available on the committee’s webpage.

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Boosting aquaculture in the Northern Territory

THE Northern Territory Seafood Council, which represents seafood operators across the aquaculture, wild catch and trader/processing sectors, and Seafarms, the organisation behind Project Sea Dragon, a large-scale staged development of prawn production ponds across Northern Australia, will give valuable evidence this week to a parliamentary committee inquiry into aquaculture.

The House Agriculture and Water Resources Committee will be holding the public hearing as part of its current inquiry into Australia’s aquaculture sector. 

The Committee Chair, Rick Wilson MP said, "This hearing will round out evidence from aquaculture stakeholders in the Northern Territory received during a public hearing and site visits in Darwin in July.

"The committee has seen first-hand the significant aquaculture work being undertaken in the Northern Territory. We look forward to hearing further perspectives about current challenges and new opportunities for aquaculture in the Territory, and how the government can help address barriers being faced by operators."

For further information, visit the inquiry website.

Public hearing details

Date: Thursday, 12 August 2021
Time: 10.10am to 11:10am AEST

A live audio stream of the hearing will be accessible at: www.aph.gov.au/live.

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Preventable death of seafarer during crew change off Qld coast highlights need for national approach - ITF

THE Australian Government should urgently implement a nationally-consistent best-practice plan for crew changes on international trading vessels following the preventable death of a seafarer during a high-risk transfer off Queensland’s Sunshine Coast this week, claims the International Transport Workers' Federation (ITF).

According tot he ITF, the man died after reportedly falling from a ladder being used to transfer seafarers between the Liberian-flagged bulk carrier Formosabulk Cement and a small vessel. As the incident occurred in Australian territorial waters, about five nautical miles off Mooloolaba, the vessel has been detained by the Australian Maritime Safety Authority to allow an investigation into the death to occur.

The ITF said the "lack of a nationally-consistent policy on international seafarer crew changes, along with restrictive state-based health orders, appeared to be the reason the high-risk offshore transfer was undertaken rather than occurring in port".

“Currently, Queensland is one of the only states in Australia facilitating crew changes on international vessels — which in many cases have seafarers that have been effectively trapped onboard for more than a year due to the COVID crisis,” ITF Australia coordinator Ian Bray said.

“The Formosabulk Cement was reportedly sailing to a NSW port, where a crew change could have safely occurred at the berth, but because of that state’s restrictive health orders it appears the vessel operator instead decided to replace the crew while sailing down the Queensland coast.

“After spending the last year at sea, this seafarer was looking forward to finally returning home to his family, but instead they have received the tragic news that he died during the crew change," Mr Bray said. “Our deepest sympathies are with his family, friends, and fellow crew members.

“It is essential that the Australian Government learn from this completely preventable death and take the urgent steps needed to address the crew change crisis that caused it.

“Australia is failing to live up to its legal obligations as a signatory to the Maritime Labour Convention, which outlines the nation’s responsibility to the health and welfare of the seafarers that keep the nation’s supply chains moving.

“State and Federal Government’s are complicit in any fatalities that occur because crew changes are being undertaken in an unsafe manner due to their prescribed health orders," Mr Bray said.

“The Australian Government needs to urgently address this issue, working with State and Territory Governments to put in place a nationally-consistent, best-practice crew change policy that allows the safe transfer of crew members while vessels are in port.

“The current situation is seeing risky off-shore transfers take place, while some vessels are diverting to Queensland ports because it is the only Australian state with a comprehensive approach to crew changes.”

 

About the ITF and ITF Inspectorate

The International Transport Workers' Federation is a democratic global union federation of 670 transport workers trade unions representing over 20 million workers in 140 countries. The ITF works to improve the lives of transport workers globally, encouraging and organising international solidarity among its network of affiliates. The ITF represents the interests of transport workers' unions in bodies that take decisions affecting jobs, employment conditions or safety in the transport industry.

The ITF Inspectorate is a network of 147 inspectors and contacts, based in ports all over the world, whose job is to inspect ships calling in their ports to ensure the seafarers have decent pay, working conditions and living conditions on board. They conduct routine inspections and also visit ships on request of the crew. If necessary they assist with actions to protect seafarers' rights as permitted by law.

 

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Dispatchable energy inquiry to hear from CSIRO

THE House of Representatives Standing Committee on the Environment and Energy will on Wednesday hold a public hearing for its inquiry into the current circumstances, and the future need and potential for dispatchable energy generation and storage capability in Australia.  

Representatives from CSIRO will appear before the committee to discuss Australia’s current and future energy mix, specific dispatchable energy technologies and future frameworks that need to be considered to ensure Australia’s energy system is equipped for the future.

Committee Chair Ted O’Brien MP said, "The CSIRO is Australia’s preeminent science agency and will provide the committee with an insight into how Australia’s energy sector, combined with scientific technologies, can catalyse energy transition towards improved dispatchable energy generation and greater storage capability.

“CSIRO will be able to bring to the Committee valuable insight from their scientific research in this area,” Mr O’Brien said.

Public hearing details

Date: Wednesday, 11 August 2021
Time: 10.15am to 11.15am
Location: via videoconference

Program

10.15am – 11.15am: CSIRO

Due to Covid-19 restrictions, committee proceedings held in Parliament House are not currently open to the public. The hearing will be broadcast live at aph.gov.au/live.

 

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Consumers ignored in automotive franchising code discussion paper

THERE is one consideration missing from the automotive franchising code discussion paper released today - the Australian consumer, according to the Federal Chamber of Automotive Industries.

Minister for Employment, Workforce, Skills, Small and Family Business, Stuart Robert today released a discussion paper that considers further reforms to the Franchising Code of Conduct introduced on July 1 this year.

Federal Chamber of Automotive Industries chief executive Tony Weber said by failing to consider the consumer, the discussion paper appears to put the interests of one component of the supply chain over Australian families.

“The ink is not yet dry far reaching industry regulations introduced last month. Their impact needs to be seen before more regulations are contemplated,” Mr Weber said. 

“The government describes its franchising reforms as having already delivered ‘big wins’ to dealers, but where there’s a winner there’s also a loser – and in this case it’s the Australian consumer.

“Automotive franchising is a consumer issue, not an industry protection issue. It should focus on providing consumer choice not dealer protection at the expense of all others. Regulation should encourage innovation and flexibility for business, not leave it anchored in the last century.”

Mr Weber said Australia already has extensive competition and franchising regulations and any further regulation would stifle the industry’s capacity to innovate to meet the changing needs of the Australian consumer.

“Over-regulation will not protect the industry but what will is a choice of sales models, better service and competitive pricing," he said.

“The FCAI looks forward to working with industry stakeholders and the Federal Government on this important issue,” Mr Weber said.

www.fcai.com.au

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Improving Australia's skilled migration program

THE Joint Standing Committee on Migration today presented the final report for its inquiry into Australia’s skilled migration program.

Committee Chair Julian Leeser MP said, “Over 500,000 temporary migrants have left Australia since the COVID-19 pandemic began, and the lack of skilled migrants coupled with record low unemployment has led to major skill shortages in many sectors of the Australian economy.

“The government has implemented many of the recommendations the Committee made in Interim report in relation to skills shortages in the economy and their impact on the viability of businesses and their ability to create more jobs for Australians,” Mr Leeser said.

“In this report, the committee has made recommendations addressing a range of issues including a whole of government approach to address skills shortages, providing clearer pathways to permanency to and enabling the best and brightest international students to come and stay here to help us fill persistent skills shortages.

“The report also recommends a number of measures aimed at cleaning up and streamlining the skilled migration system, including consolidating the skills lists, replacing ANZSCO, providing more concessions for regional visas, improving customer service from Home Affairs and streamlining Labour Market Testing and the Skilling Australia Fund,” said Mr Leeser.

A copy of the report and more details about the inquiry are available on the committee website.

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