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Infrastructure investment builds to $170bn

ALEX DUNNIN  |  TUESDAY, 11 MAY 2021
... Intelligence Centres to drive business adoption of these new technologies. Expanding our cyber security innovation fund to train the next generation of cybersecurity experts. And undertaking a digital skills cadetship trial which combines workplace and ...

Key Treasury initiatives outlined

JAMIE WILLIAMSON  |  TUESDAY, 11 MAY 2021
... power, and regulatory powers will be streamlined to ensure system efficiency. APRA will also receive $9.6 million over the next four years to supervise and enforce the implementation of the Your Future, Your Super reforms. A further $1.6 million will ...

Aged care expenditure to jump 37%

ALEX DUNNIN  |  TUESDAY, 11 MAY 2021
... coming wave of aging retirees. Aged care expenditure will increase 7% during 2021-22 to $24.3 billion and by 37% over the next four years to $31.2 billion, making it one of the fastest growing areas of the budget. This significant increase includes nearly ...

New India fund eyes HNWs

KARREN VERGARA  |  TUESDAY, 11 MAY 2021
... with Suzuki and Maruti. India is currently grappling with the devastating COVID-19 outbreak. "People are looking toward the next three months when India is likely to reach herd immunity. Vaccinations are administered at two to three million per day. ...

Chief economist update: Iron ore is the glue that binds China and Australia

BENJAMIN ONG  |  TUESDAY, 11 MAY 2021
... the "favourable supply conditions" come in. It's the second largest exporter of iron ore (18.1% of total world exports) next to Australia (53.8%). Supply from Rio de Janeiro - where Vale S.A. (the country's largest iron ore miner) has its headquarters ...

Chief economist update: Did the BOE just announce taper?

BENJAMIN ONG  |  FRIDAY, 7 MAY 2021
... as well as announced fiscal and monetary stimulus. Consumer spending is also supported by households running down over the next three years around 10% of their additional accumulated savings." How much stronger? The bank now expects GDP growth of 7.25% ...

AMP trims platform fees

KANIKA SOOD  |  THURSDAY, 6 MAY 2021
... $250,000. Administration fee caps for individuals are reducing by $400 and for families by $500 per year. AMP North will be next from June 1, followed by Summit on August 1 -- bringing their fees largely in line with MyNorth's. The three platforms ...

New Islamic advice group launches, hires from MSC

KANIKA SOOD  |  WEDNESDAY, 5 MAY 2021
A new Sydney dealer group focused on Muslim clients is looking to hire up to 50 financial advisers in the next 12 months, as it nabs MSC Group's chief operating officer to lead the business. Hejaz Financial Services will build a network of both specialist ...

Australian Unity Bank hires sporting legend

KARREN VERGARA  |  WEDNESDAY, 5 MAY 2021
... always felt the need to give back to the community that supported me to perform on the world stage." "As I looked to make the next step in my career, the opportunity to use my experience in banking in a community focused organisation made Australian ...

AZ NGA acquires two advice practices

KARREN VERGARA  |  WEDNESDAY, 5 MAY 2021
AZ Next Generation Advisory (AZ NGA) has acquired two Queensland-based financial planning firms. Blue Harbour Financial Partners (formerly Bridges Brisbane Bayside) and Henderson Matusch Group brings the network to a total of 79. Blue Harbour, which ...