Money 

Chinese investment in Australia faces litmus test with two new deals

Australia’s coalition government will face its biggest test regarding investment from mainland China since its May re-election with at least two corporate buyouts likely to require approval from a regulatory body increasingly vigilant against security risks.Beijing-backed Mengniu Dairy on Monday offered US$13.25 per share to buy Bellamy’s, valuing the infant milk powder producer at A$1.5 billion (US$1.03 billion).The deal has been recommended by Bellamy’s directors but still requires approval… Source link

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Mengniu Dairy moves to buy Australia baby milk formula maker Bellamy for US$1 billion as part of global expansion goals

China Mengniu Dairy has offered A$1.5 billion (US$1 billion) to take over Australian infant milk formula maker Bellamy, reflecting the dairy products giant’s goal to expand aggressively abroad.The Inner Mongolia company said on Monday that it would buy Bellamy at A$13.25 a share, which represents a 59 per cent premium to the Australian company’s closing price of A$8.32 on Friday.The deal, accepted by Bellamy’s board, is subject to a review by Australia’s Foreign Investment Review Board, Mengniu… Source link

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Vietnam 

Festival day of Vietnamese longan opens in Australia – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Longan, a special fruit of Việt Nam, is now available on supermarket shelves in Australia. — Photo Vietnamplus HÀ NỘI — A festival day of Vietnamese longan was held in Australia on Monday, introducing the fresh fruit to wholesale markets and stores in the country. The day, included a Việt Nam Longan Roadshow, focuses on customers of Australia and building the Vietnamese longan brand name, which will be attached with the trademarks of Vietnamese businesses and longan growing areas. The day was organised after the first batch of the fruit…

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Vietnam 

First batch of Vietnamese longan enters Australia – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Late ripening longan of Hà Nội, which is an old kind of longan used to serve the Kings in the past, have been exported to Australia. — VNA/VNS Photo  HÀ NỘI The first batch of Vietnamese longan has been shipped to Australia and will be on supermarket shelves in Melbourne on September 9, according to an official from the Ministry of Agriculture and Rural Development (MARD). Director of the MARD’s Agricultural Products Processing and Development of Department Nguyễn Quốc Toản was speaking  at a conference on promoting consumption and exports…

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Vietnam 

Việt Nam and Australia boost economic co-operation – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Australian Prime Minister Scott Morrison (second right) with TMS Group Chairman Nguyễn Bá Luận (second, left) at a meeting in Hà Nội. — VNA/VNS Photo Văn Điệp HÀ NỘI — Prime Minister Nguyễn Xuân Phúc and his Australian counterpart Scott Morrison chaired a meeting on exchanging and promoting co-operation opportunities between Vietnamese and Australian businesses in Hà Nội on Friday. The meeting was attended by Chairman of the Vietnamese Entrepreneurs Association (VEAS) in Sydney Nguyễn Bá Luận along with experts and business people from both Việt Nam…

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Vietnam 

Komatsu signs multi-year deal with DHL in Australia to import over a million kg of machinery parts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

DHL provides global airfreight, customs clearance and time definite international express services to support Komatsu’s turnkey after-market activities   SYDNEY, AUSTRALIA   –  Media OutReach  –  19 August 2019 – Komatsu, one of the world’s leading global manufacturers and suppliers of technologically innovative construction and mining equipment, has signed a new multi-year agreement with DHL Express and DHL Global Forwarding, two divisions under Deutsche Post DHL Group. The world’s leading logistics company will import more than a million kilograms of Komatsu machinery, equipment and spare parts each year into Australia…

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China currency move, US tariffs an ‘unwanted escalation’ in dispute, says Australia

Australia has called on the US and China to negotiate a resolution to their economic conflict, with Treasurer Josh Frydenberg describing the introduction of currencies into the dispute as an “unwanted escalation”.In a television interview on Wednesday, Frydenberg avoided answering a question on whether the US was right to brand China a currency manipulator.“It’s not for Australia to say which side is right and which side is wrong,” he said. “What Australia wants is for the international rules… Source link

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East Timor wants to tap oil and gas near Australia, so why is it courting China?

Geopolitical tremors were felt in the region when reports surfaced that East Timor’s state-owned energy company was considering a US$16 billion loan from China to develop an offshore oil and gas field.Many saw it as the latest example of China’s growing diplomatic and economic clout in the 17-year-old nation, which lies just 500km off the north coast of Australia.Timor Gap was swift in denying the reports, which had claimed the Export-Import Bank of China would help finance its US$50 billion… Source link

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Home auction demand rises in Australia, raising hopes of a market turnaround

Tumbling Australian home prices may have found solid ground amid the worst property downturn in a generation, as the real estate industry experiences a revival in auction demand, data showed.Australia’s central bank has been closely watching housing market weakness as two years of price declines have eroded wealth, undermining consumer confidence and spending power.The country’s housing stock is worth about A$6.8 trillion (US$4.8 trillion), according to estimates from the Australian Bureau of… Source link

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Singapore 

From boomerangs to A-bombs? Australia debates nukes, Singapore News

SYDNEY – Facing a wobbly ally in the United States and an increasingly bellicose China, Australia’s military strategists are cautiously debating whether the country needs to consider developing its own nuclear deterrent. For a long time, the country’s defence forces had relatively little to worry about. A century-old alliance with the US brought bankable security guarantees, while mineral exports to China ensured 28 recession-free years at home. But Mr Donald Trump’s limited regard for alliances and Mr Xi Jinping’s quest for primacy in the Pacific have put both pillars of…

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