Tony Abbott has put investment and free trade at the centre of the Coalition’s agenda to reignite economic growth. Incoming trade and investment minister Andrew Robb has flagged an international trade push, including the quick finalisation of key bilateral deals and regaining the “trust” of foreign investors by cutting the carbon and mining taxes and slashing red and green tape.
Home prices in Sydney are being pushed up in part by unprecedented levels of Chinese demand, according to McGrath Estate Agents. As much as 80 per cent of homes in parts of Sydney are being sold to Chinese buyers, said chief executive John McGrath.
The Indonesian government has approved a plan to buy a million hectares of Australian farmland to breed its own cattle, following an agreement that was made between the two countries in July. The plan, approved by the cabinet Wednesday according to Indonesian media, comes as beef prices in Indonesia have hit a record amid shortages.
Giant state-owned China Investment Corporation could emerge with almost half of the nation’s oldest dairy producer under a proposed $200 million deal that will test the commitment of the new government to foreign investment. New Zealand’s biggest company, global dairy group Fonterra, in a partnership with CIC, is proposing to buy, in whole or in part, the Tasmania-based Van Diemen’s Land.
Opinion piece on the benefits of foreign investment in Australia with discussion of the forthcoming recommendation by the Foreign Investment Review Board on US agri-giant Archer Daniels Midland’s $3 billion bid for GrainCorp.
Global investment company Abu Dhabi Investment Authority has provided a boost to the hotel industry with the record-breaking $800 million purchase of Australia’s largest hotel owner, Tourism Asset Holdings. The deal gives the Middle Eastern group ownership of a portfolio of 31 properties and is one of the largest leased property portfolios of its kind in the Asia Pacific.