The Reserve Bank of Australia and Bank of Japan have renewed the Bilateral Local Currency Swap Agreement for a further three years.
The initial swap agreement between the two central banks was signed in 2016 and has been renewed for three-year periods since that time. Each agreement is designed to enhance the financial stability of the two countries, and allows for the exchange of local currencies between the two central banks of up to A$20 billion or JPY 1.6 trillion.
The Book of Disappearance, by Ibtisam Azem, translated by Sinan Antoon has been Longlisted for the International Booker Prize, 2025.
This critically acclaimed Arabic novel invites English readers into the complex lives of Palestinians living in Israel.
What if all the Palestinians in Israel simply disappeared one day?
The Book of Disappearance is set in contemporary Tel Aviv. Alaa is a young Palestinian man who is haunted by his grandmother’s memories of being displaced from Jaffa and becoming a refugee in her homeland. His Jewish neighbour and friend, Ariel, is a journalist who believes in Israel’s national myth but is critical of the military occupation of the West Bank and Gaza. He begins to search for clues about why Alaa and the Palestinians have vanished. Their stories, and the stories of the ordinary people of Jaffa and Tel Aviv, reveal the fissures at the heart of the Palestinian question.
Ibtisan Azem’s spare and evocative novel is an unforgettable glimpse into contemporary Palestine as it grapples with both the memory of loss and the loss of memory.
Ibtisam Azem is a Palestinian novelist, short story writer, and journalist, based in New York. She was born and raised in Taybeh, near Jaffa, the city from which her mother and maternal grandparents were internally displaced in the 1948 Nakba. She lived in Jerusalem before moving to Germany and later to the US. Azem has published two novels in Arabic: The Sleep Thief (2011) and The Book of Disappearance (2014). Her first short story collection, City of Strangers, is forthcoming in Arabic in the summer of 2025.
Sinan Antoon is an Iraqi poet, novelist, translator, and scholar. He holds degrees from Baghdad and Harvard and has published two collections of poetry and five novels in Arabic. Antoon’s writings in English have appeared in the New York Times, the Guardian and the Nation, among others. Antoon returned to his native Baghdad in 2003 to co-direct About Baghdad, a documentary about the lives of Iraqis in a post-Saddam-occupied Iraq. He is an associate professor of Arabic literature at New York University.
Praise for Ibtisam Azem:
‘Brilliantly conceived and searingly executed.’ Claire Messud
‘In this immensely readable novel, Ms Azem does not resolve for us the calamity of Palestine’s occupation by Israel. But stylishly and with jeweled virtuosity she makes us understand that acts of great and human imagination will be required, and with this potent book points where and how we must all go.’ Richard Ford
‘Speculative and haunting, this is an exceptional exercise in memory-making and psycho-geography.’ The International Booker Prize 2025 Judges
‘Seductively bold…This rich, potent novel reminds us that there are no easy answers.’ Guardian.
Serwah Attafuah, The Darkness Between The Stars, JOAN. Landscape still.Courtesy of the artist.
Virtuosic digital artistry is on show in Serwah Attafuah’s installation The Darkness Between the Stars, currently showing at ACMI.
The work fiercely challenges stereotypes of black femininity and draws upon the history and culture of the Ashanti people of modern-day Ghana, one of the countries most affected by the Atlantic slave trade and the site of remembrance and pilgrimage for many descendants of the people trafficked as slaves.
Serewah is part of a generation of video artists like Melbourne’s Xanthe Dobbie, British artist Rachel Maclean, and Paris based, French Guianese artist Tabita Rezaire. These artists all channel the moving image culture of gaming and the internet, rather than the cinematic or televisual references of their forebears.
Each of these artists uses exuberant humour and a tough-minded politic to challenge the reductive construction of female and queer identities.
As we pass through the arch at the entry to the gallery, we are greeted by a 3D animation of an ocean reflecting a sky that cycles from starlit to slowly emerging dawn. We are told the arch references the entry to the Elmina castle built by the Portuguese: one of two major points from which enslaved African people were cast into the hell of the Atlantic passage and life in bonds.
African warriors
Beyond the entrance we are faced by a series of five screens in portrait format. Each shows short loops of African warriors, suggesting the idealised – and, here, heroic – forms of game avatars a la Fortnite.
Each of the images is framed in gold e-waste. This brings to mind Congolese street art costumes, similarly made of waste which blend cultural traditions and an Afrofuturist resistance that dares to imagine a better future.
The first portrait is a furred, horn helmeted, and neck ringed warrior woman. Armed with a laser and an automatic pistol, she has further weapons adorning her back ready to be deployed.
Serwah Attafuah, The Darkness Between The Stars, ANANSI, 2025. Still courtesy of the artist
Behind and around her are malfunctioning computer screens. One scrolls through an online dating text exchange which evokes the idealised and reductive self-curation of the online profile. This chat is between Jenny and Mark, a FIFO worker on an offshore oil rig in Western Australia. This ties to the images of oil rigs found elsewhere in the show, evoking the plundering of African resources: human and otherwise; historical and ongoing.
The second screen pictures an armoured woman (or cyborg?) atop a rearing tiger. The tiger is an intriguing choice given it is an Asian animal but potentially points to a pan exoticism rooted in the confusion of cultures.
She wields a curved blade amid a savannah populated with umbrella thorn acacia and what appear to be comfortingly homely (and amusing) ground-hugging waratahs in the foreground.
Serwah Attafuah, The Darkness Between The Stars, JOAN, 2025. Still courtesy of the artist.
Complicating fetishes
Moving around the room, floating robots accompany another warrior who props against a sword supported by a fragmented classical column.
She stands beneath an oversized moon, evoking an off-world setting, a reading compounded by her protective headwear.
Alongside a writhing snake, we catch sight of her Betty Davis (no, the Black one) super heels: a clear link to the under-remembered pioneer of Afrofuturism.
Serwah Attafuah, The Darkness Between The Stars, KING, 2025. Still courtesy of the artist.
Continuing this play of sexual provocation and power is the addition of a techno tutu which further accentuates her already thrusting buttocks.
The problematisation of sexualised imagery is one of the exhibition’s central themes. Attafuah toys with the Western fetishisation and fear of Black women’s sexuality.
Occasionally borrowing cliches from the gaming and pornographic worlds, Attafuah forcefully complicates such fetishes by arming four of her five warriors to the teeth. They take aim at us, challenging their construction as passive objects for our visual consumption.
A further figure, singularly unarmed apart from her thorny armbands, appears in the next frame. She runs through a series of coquettish modelling poses in her mesh bodysuit as she stands amid buzzing screens and computer detritus.
In yet another confusingly (and amusingly) stereotyped African landscape she is pictured among palm trees and sand, in what I took to be an evocation of a North African environment complete with desert fortress, oil rig and passing container ship.
In the final of the five portraits a young, braided, and fantastically eyelashed woman takes aim at us with a pistol straight from Star Wars (Rebel Alliance issue, naturally).
Serwah Attafuah, The Darkness Between The Stars, VENUS, 2025. Still courtesy of the artist.
She stands hip deep in a lagoon of water lilies and floating CDs. A futuristic city fills the background with a slowly turning wind turbine that sports yellow and black radiation colouring – yet another paradoxical meeting in an exhibition characterised by mixed messages that contradict easy readings.
In The Darkness Between the Stars, Attafuah proves herself to be a powerful, uncompromising and most welcome voice in contemporary Australian art. She proves herself capable of generating sophisticated, nuanced and playful reflections on complex problems that we carry from past to present.
Serwah Attafuah: The Darkness Between the Stars is at ACMI, Melbourne, until June 1.
Dominic Redfern works at RMIT with, and previously taught, Xanthe Dobbie.
The US government has sent a 36-point questionnaire to some Australian researchers who are working on joint projects with US colleagues.
ABC Radio National reports at least eight Australian universities are involved. Their research areas include foreign aid, medicine, vaccines and defence. The New York Times reports a similar document has also been sent to other overseas organisations with US funding links.
The questions are wide-ranging and cover academics’ links to China as well as their projects’ focus on topics such as diversity, inclusion and gender identity, as well as climate change.
Some of the specific questions include:
Can you confirm that your organisation has not received ANY funding from PRC People’s Republic of China, Russia, Cuba or Iran?
Can you confirm that this is no DEI [diversity, equity and inclusion] project or DEI elements of the project? [sic]
Does this project take appropriate measures to protect women and to defend against gender ideology as defined in the below Executive Order?
Can you confirm this is not a climate or “environmental justice” project or include such elements?
The survey also covers issues such as secure borders with Mexico, ending government waste, terrorism, the war on opioids, and “eradicating anti-Christian bias”.
Concern and anger
In response, the Group of Eight (which represents Australia’s top research universities) and Australian Academy of Science have separately raised concerns with the Australian government about the survey and its impact on Australian research.
The Group of Eight says the US has already suspended or terminated research grants with six of its eight member universities.
The National Tertiary Education Union also labelled the survey “blatant foreign interference”.
A spokesperson for Education Minister Jason Clare says Australia is
“engaging with the US government to understand what these measures mean for future funding and collaboration”.
Are Trump’s orders legal?
Trump’s executive orders are currently the subject of numerous lawsuits in the US. Plaintiffs say Trump’s orders violate the First and Fifth Amendments – those dealing with protection of free speech, equal protection and “due process of law” when depriving a citizen of property.
Whether Trump’s orders are legal or not is a tricky question, and will likely come down the judges hearing each case.
US involvement in Australian research is significant. According to the Academy of Science, US government research funding involving Australian research organisations was $A386 million in 2024.
It is arguable Trump’s orders infringe Australian sovereignty. But the US has always had the capacity to interfere in Australian university research – it just hasn’t actually done it until now.
Research contracts signed between universities and funding bodies can contain all kinds of requirements, so US law can end up applying to Australian researchers. When the AUKUS deal was announced in 2021, a huge question was how universities would comply with notoriously harsh US export control laws.
The survey indicates it was issued by the US Office of Management and Budget and appears to be supported by the US CHIPS and Science Act (which authorises certain research investments) and National Science Foundation policies. So, while Australian researchers could potentially ignore these questionnaires, that would legally give a US funding body grounds to cancel the funding contract.
Our foreign interference laws also weren’t designed for situations like this. Even if they did, Trump is the current head of the US government, and is likely to be immune from prosecution
Statutory tests for foreign interference – including criteria that such acts are covert, and/or involve threats of harm – simply don’t apply to a US president like Trump.
So legally, it doesn’t look like there is much Australia can do about Trump’s orders.
What can Australia do?
Some newly unemployed researchers are now poised to leave the US, taking their research with them. This poses a potential security risk, with countries such as China and Russia both keen to capitalise on Trump’s decisions.
But other nations are also aware of the possibilities. The European Union has already offered displaced US scientists a more “sympathetic place to work”. South Korea and Canada are also marketing themselves as attractive options. Australia could follow suit.
The federal government is currently doing a strategic review of Australia’s research and development system. This could make diversifying our research partners a national priority.
Either way, given such radical changes in the US, Australia needs to seriously reconsider how it is funding and structuring research.
Brendan Walker-Munro has consulted for the Australian Strategic Policy Institute (ASPI) and the Independent National Security Legislation Monitor, and is also an Adjunct Expert Associate of the National Security College. He has received funding from the Social Cyber Institute and Active Cyber Defence Alliance.
Source: Northern Territory Police and Fire Services
The Northern Territory Police Force has arrested a 24-year-old male after an unlawful entry in Kilgariff this morning.
About 6:20am, police received reports of an unlawful entry where it is alleged the 24-year-old male assaulted a disabled man upon entry. He then indecently assaulted a woman whilst she was asleep, waking her in the process. The victim then screamed and the offender fled the scene on foot.
A short time later, police arrested the male along Len Kittle Drive and he is expected to charged.
As we clean up after Alfred, we’re only just now realising how hard of a punch this cyclone has packed. Financial forecasts are predicting the impacts will amount to more than $1.2 billion.
Craig Zonca:
Yeah, it’s not just fixing the mess it made, it’s the flow on effects that could be felt for some time. The federal Treasurer is Jim Chalmers. Treasurer, good morning to you.
Jim Chalmers:
Good morning, Craig. Good morning, Loretta.
Zonca:
$1.2 billion, that’s quite the economic hit.
Chalmers:
It is a pretty hefty hit. We’ve said all along that our main focus here is obviously the human costs, but there’s going to be a very substantial economic cost as well, and we’ll account for that in the Budget. It’ll be one of the key influences on the Budget.
The best way to think about the economic impact is that around 5 million people were in harm’s way of this cyclone. Almost 2 million homes. I think we lost something like 12 million work hours out of the economy. What Treasury does as we finalise this Budget is it provides its best initial estimates of the economic fallout. So, a hit to our economy of about $1.2 billion, that’s about a quarter of a percentage point off growth. We’re also assessing which of our food growers were impacted, and what does it mean for building costs – because there is a risk as well that there’ll be some impact on inflation.
Zonca:
Well, you stand up next Tuesday, 25th March, with your Budget speech, how does it now change because of Alfred?
Chalmers:
I’m going to provision an extra $1.2 billion in the Budget for the recovery. Australians are there for each other when these difficult natural disasters occur, and the government will be there for them as well, so we will put an extra $1.2 billion in the Budget. That means there’ll be about 13 and a half billion dollars all told, when it comes to budgeting for rebuilding communities.
Remember, it wasn’t that long ago that our friends to the north of here were getting very substantial flooding as well. We’ve had a series of natural disasters. So, there’s about 30 and a half billion in the Budget, but $1.2 billion of that is new money which we’re putting in the Budget to account for the recovery and the rebuild after ex‑tropical Cyclone Alfred.
Zonca:
And is that paid by cuts elsewhere or new borrowings?
Chalmers:
It’s off the bottom line – and the budget overall will have some savings in it. It will have some responsible measures to get the budget in better nick, but it will have some investments as well, including this one. This brings us to an important point, unfortunately at this time of the morning, a bit of a political point, but you’ll hear our political opponents talk about wasteful spending and they talk about hundreds of billions in wasteful spending.
When they say that, remember that part of that figure they use is actually funding for natural disaster recovery. What we’ve been able to do is manage the budget very responsibly. Two surplus budgets for the first time in almost 2 decades, we’ve engineered something like a $200 billion improvement in the budget. And because we’ve done that, because we’ve managed the budget responsibly, we can afford to pay for things which are really important, like rebuilding communities after natural disasters.
Ryan:
On 612 ABC Breakfast, federal Treasurer Jim Chalmers with us for the families who are listening, Treasurer, and who have been hit hard with this. Will that money go towards recovery payments for them? I know there are payments for people affected. How does that all work?
Chalmers:
It is part of it. So, it’s partly rebuilding bridges and footpaths and local infrastructure. I think a lot of people would have seen on the TV the destruction on the Gold Coast, for example, and further out west and in my neck of the woods in Logan and Brisbane and elsewhere. So, part of it is to help the state government and local governments rebuild that local infrastructure. But a significant part of it is these hardship payments as well. Whether it’s the Hardship Assistance Payment or the allowance for people who are put out of work for a substantial period of time, there is a significant cost to that as well.
I’ll actually be standing up with my terrific colleague, Jenny McAllister, who is the responsible Minister in this area. We’ll be saying a bit more about this later today, because what we’re making sure that we’re doing is making sure that people are eligible for these payments, that they can access them as quickly as possible, and the total cost of that will be included in the Budget.
Ryan:
Is this on top of what I think the Prime Minister did announce last week when the storm was happening?
Chalmers:
That was part of it. The Prime Minister was talking about these payments for people who are very substantially impacted. And what the government does, via Jenny McAllister, but also working closely with the states, is we determine the eligible areas for those payments. And so, as the natural disaster evolves, more and more local communities get added to the eligibility for those payments that the Prime Minister was talking about. That always evolves in days after a disaster to make sure that we are making everyone eligible who needs to be eligible, so that they can get the payments they need to get back on their feet.
Zonca:
Just on those payments, Treasurer, has there been any discussion about increasing those? Because I look at the amounts on offer and we’ve seen costs of everything go up substantially over the past decade. I don’t think those hardship payments, those disaster payments have increased in 10 plus years.
Chalmers:
I think we keep them under constant review. If your question is, you know, would people like a little bit more, I think I would understand if they did. We’ve got to be as responsible as we can. But they’re not insignificant amounts of money. In some cases it’s $900 or $1,000 a family, depending on how impacted people are and whether they’re eligible. It is a significant payment for people just to help them get back on their feet. There’s also the income replacement payments for people who are out of work for a substantial period of time.
We keep these totals under constant review. If we can do more, we’ll do more in the future, but it is a relatively significant payment already.
Zonca:
19 past 7 – the federal Treasurer, Jim Chalmers, with you as you talk about those impacts you mentioned on fruit and veggies and so on. Already we have seen substantial increases every time we go to the grocery store or our local greengrocer. What sort of further increases are likely post Cyclone Alfred?
Chalmers:
One of the most encouraging things that’s been happening in our economy is, you know, a couple of years ago when we came to office, inflation was multiples of what it is now, and it was rising quite quickly. What we’ve been able to do together as a country is to make some really encouraging progress on that inflation. And people are still under pressure. I know at the supermarket checkout, people are still feeling the pinch. We don’t pretend otherwise. That’s why our cost‑of‑living help that we’re rolling out is so important. But inflation is coming down.
If you think about food inflation in particular, that was 5.9 per cent when we came to office and now about half that at 3 per cent. And so that gives you a bit of a sense of the progress that we’re making. We’re not complacent about that because people are still under pressure and that’s why that cost‑of‑living help is so important.
Zonca:
Well, you talk up the economic management there, but I think most Australians would probably say they feel like they’re worse off since you started in government, Jim Chalmers?
Chalmers:
I think I acknowledged in the answer a moment ago, Craig, that we know that people are still under the pump. You know, we don’t pretend otherwise. But what matters there is, once you acknowledge that, whether you’re prepared to do something about it. We have been prepared to do something about it, and our opponents voted against that cost‑of‑living help.
We’ve been rolling out tax cuts for every taxpayer, energy bill relief, cheaper medicines, cheaper early childhood education, Fee‑Free TAFE, rent assistance. We’ve been getting wages moving again. And these are all of the ways that we’re not just recognising people are doing it tough, we’re trying to take the edge off these cost‑of‑living pressures where we can in the most responsible way that we can.
Ryan:
Treasurer, it looks like Queensland is tipped to lose a lot of the share of the GST pie. So, the Commonwealth Grants Commission proposing a $5 billion cut to GST revenue. So, we’re potentially looking at $2.4 billion next year alone. Surely this is something that you won’t let happen.
Chalmers:
I think as you rightly kind of intimated in your question, Loretta, this is an arm’s length process. It’s an independent process managed by the Commonwealth Grants Commission. It’s not a decision of the federal government to carve up the GST. That’s done by the Commission. And every year or every time that these relativities are calculated, some states are happy, and some states are less happy. Queensland’s done quite well over recent years from the Commonwealth Grants Commission. And what this new number recognises is the substantial amount, extra amount that Queensland is getting in coal royalties. And so, this calculation is not done by the government. I know it’s not unusual for state governments to want more money from the federal government. It’s not unusual for states to blame the feds for pressures on their budget. But this is not a process that’s done by politicians in the Commonwealth government. It’s done by this independent organisation.
Ryan:
Are you disappointed, though?
Chalmers:
I think over time it all works out. You know, for example, the last time this was done, NSW was unhappy. This time it’s Queensland. But over time, if you look at this over a period of time, it generally smooths out. On this occasion, it recognises that Queensland’s doing well or expected to do really well out of coal royalties. On other occasions, Queensland’s done incredibly well. Over a period of time, not just from year to year or update to update, it generally smooths out. From time to time, states are unhappy. Obviously, I care about that. As a Queenslander, I have a respectful working relationship with the Queensland government. I have a respectful relationship with governments of both political persuasions around Australia. It’s not unusual for them to want more and that’s what we’re seeing here.
Ryan:
But we need more because of the Olympics, don’t we?
Chalmers:
We’re kicking billions of dollars in for the Olympics. I think that’s a really important point. We’re providing $3.5 billion as a Commonwealth government for the Olympics. We haven’t been shy about that. We haven’t been pinching pennies when it comes to our commitment there. We think the Olympics are going to be terrific. We want to work closely with the state government to deliver something that we can be proud of and our $3.5 billion is part of that effort.
Zonca:
So, giving us $3.5 billion for Olympic infrastructure but taking $5 billion in GST revenue, that still leaves us $1.5 billion down overall.
Chalmers:
No, because there’s a big recovery in coal royalties, as I keep pointing out. Secondly, you need to look at these calculations by the Independent Commission at arm’s length from us over a period of time and not just from update to update. Queensland’s done well over the years. I know that people are not happy about this one. I do genuinely understand that you do genuinely care about that. But you need to look at it over a period of time, not just from one update to the next.
Zonca:
I appreciate your time this morning, Treasurer. Thanks so much.
It took thousands of years to develop the world’s extraordinary range of domesticated farm animals – an estimated 8,800 livestock breeds across 38 farmed species.
But this diversity is dwindling fast. Advances in selective breeding and artificial insemination have fuelled the global spread of a small number of profitable livestock types. Their popularity has left ever more heritage breeds at risk of extinction.
Why does this matter? Each breed represents vital genetic diversity for the livestock species on which we rely, known as agrobiodiversity. As the number of breeds shrink, we lose their genetics forever.
There are bright spots amid the decline. Hundreds of passionate farmers are working hard to keep heritage breeds alive around Australia. As my new book shows, they do it primarily for love.
Which livestock breeds are disappearing – and why?
Cattle have experienced the highest number of extinctions, with at least 184 breeds lost globally.
Of all chicken breeds, one in ten is now extinct, and a further 30% are endangered.
The fleece of Elliotdale sheep has been used to make woollen carpets. Sue Curliss, CC BY-NC-ND
Pigs fare little better. Australia’s 2.5 million pigs are predominantly Large White, Landrace and Duroc crossbreeds, while none of the eight remaining purebred pig breeds in Australia currently has more than 100 sows registered with the Rare Breeds Trust. While not all sows are registered, we know breeds such as Tamworths are at dangerously low numbers.
How did this happen? Over the past century, the goal of animal husbandry has shifted from breeding hardy, multipurpose animals to increasing performance for economic gain. For livestock, performance means more of what humans value, such as pigs with extra ribs, prolific egg-laying hens and sheep with finer wool.
Huge sums have been spent on selective breeding and artificial insemination technologies. This, in turn, has made it possible for a small number of profitable livestock types to be farmed globally.
For instance, when you buy a roast chicken, it will likely be one of just two types of fast-growing broilers (meat chickens), the Ross or the Cobb. Their genetics are developed and trademarked by two multinational agribusinesses who dominate the global broiler market.
Chicken breed numbers have shrunk too, risking rare breeds such as Transylvanian naked neck cockerel bantams. Scott Carter, CC BY-NC-ND
It’s hard to overstate how big the increases in production have been from reproductive technologies. In the dairy industry, for instance, milk yield per cow has doubled in the past 40 years. These volumes are around six times greater now than a century ago.
Holsteins, the top dairy breed, have become globally dominant. Almost 1.4 million of Australia’s 1.65 million dairy cows are Holsteins. But as Holstein numbers soar, other breeds dwindle. Many farmers have simply stopped rearing other breeds, leading to many becoming endangered or extinct.
For Holsteins themselves, this has come with a cost. Selective breeding for high milk volume has meant Holsteins suffer more medical issues such as metabolic diseases and frequent mastitis. They also have reduced fertility and longevity.
Researchers have found 99% of Holstein bulls produced by artificial insemination in the United States are descended from just two sires. This wide dissemination of limited bloodlines has led to the spread of genetic defects.
Our food systems face growing threats. Genetic diversity provides a safeguard for livestock species against lethal animal diseases such as H5N1 bird flu and African swine fever.
If we rely on just a few breeds, we risk a wipe out. The Irish potato famine is a catastrophic example. In the 1800s, Irish farmers took up the “lumper” variety of potatoes to feed a growing population. But when fungal rot struck in the 1840s, it turned most of the crop to mush – and led to mass starvation.
Some breeds have very useful traits, such as resistance to particular pests and diseases.
Chickens and other birds die in swathes if infected by Newcastle disease, one of the most serious bird viruses. But breeds such as the hardy Egyptian Fayoumi survive better, while the European Leghorn – whose genetics are used in commercial egg-laying breeds – is highly susceptible.
Local breeds can also have better resistance to endemic pests. The Indian zebu humped cattle breed, for example, is less prone to tick infestation than crossbreeds.
Climate change is also making life harder for livestock, and some breeds are better adapted to heat than others.
For different cultural groups, local heritage breeds also have unique symbolic and culinary value.
While it’s well-known eating less meat would benefit ecosystems, animal welfare and human health, eating meat remains entrenched in our diets and the economy. Pursuing more sustainable and higher-welfare approaches to livestock production is crucial.
Some Aussie farmers love heritage breeds
A cohort of Australian farmers is working hard to conserve dozens of endangered livestock breeds such as Large Black pigs, Shropshire sheep and Belted Galloway cattle.
A rare Belted Galloway cow with a one week old calf. Scott Carter, CC BY-NC-ND
But these farmers are hampered by our reluctance as consumers to pay more to cover the cost of raising slower-growing breeds in free-range environments. Not only that, but meat processors are increasingly closing their doors to small-scale producers.
Why persevere? For four years, I’ve conducted ethnographic research with Australia’s heritage breed farmers. I found they were motivated by one of the most powerful conservation tools we have: love.
Of his endangered English Leicester sheep, one farmer told me:
I consider them to be family; they have been our family for over 150 years. I talk to them, and the rams in particular talk to me. Sorry if I sound like a silly old man, but you must talk to them. I gave myself a 60th birthday present by commissioning a large portrait of an English Leicester head, which hangs in our kitchen (I do not have a painting of my wife).
Love doesn’t often feature in agricultural research. But it is an important force. We know from wildlife conservation that humans will act to save what they love. This holds for livestock, too.
Catie Gressier receives funding from the Australian Research Council’s Discovery Project scheme as well as the European Research Council. She is affiliated with the Rare Breeds Trust of Australia and the Australian Food Sovereignty Alliance.
BILAL EL-HAYEK: Well, good morning everyone. I want to welcome you here to the City of Canterbury Bankstown to this important announcement. Well, Bankstown is booming. We have 14,000 new homes coming to Bankstown, brand new metro, a state of the art hospital. So this fantastic announcement comes in at a perfect timing when we are planning for our open space. I actually want to welcome all the ministers as well of course, the Federal Minister, Catherine King, Paul Scully, Rose Jackson, and the candidate for Banks, Zhi Soon.
I’ll now hand over to the Minister, Catherine King. Minister.
CATHERINE KING: Thank you. Thanks, Mayor. And it’s fantastic to be here today alongside my state counterparts, Paul Scully and Rose Jackson. Both planning and housing are pretty critical to the announcement we’re making today. And of course, Zhi Soon, our fantastic candidate for the federal seat of Banks in the upcoming federal election, whenever that may be.
Well, today we’re announcing alongside the New South Wales Government that as part of the Albanese Labor Government’s Housing Support Program, we’re providing over $300 million to New South Wales to bring on stream over 60,000 homes, including very quickly, over 100 social homes that are incredibly important across the whole of New South Wales. What this money goes towards is the enabling infrastructure to bring those developments to fruition, so things like the road infrastructure, water, sewerage, other utilities. But also more importantly, we’re also funding community infrastructure. As you can see from the development behind me, it isn’t just about building houses. It’s actually about building green space, good places for people to be able to walk through on their way to work, get that really sense of place, but also be able to bring their kids and make sure that they are cooler places for people to be able to engage in recreation and social activities. So part of that $300 million we’re announcing today is, here in Bankstown, a further community space. Again, it’s not just about having well-located homes around train stations, around Metro. It’s really about also making sure these are great and liveable places.
The money is being stretched right across the state, so Parramatta, Kellyville, Bella Vista, community spaces there, and as I said also, social housing in Albury. This program is part of over almost $2 billion that the Federal Government is investing in that infrastructure. We’re doing that now. The money is flowing. That infrastructure is being built to bring those 60,000 additional homes on stream here in New South Wales. It forms part of our $32 billion commitment to really build over 1.2 million homes across the whole of the country, and my part of it is building the infrastructure.
I might hand over to Minister Scully to say a few words and then Minister Jackson.
PAUL SCULLY: Thank you, Minister King. And thank you, Mayor Bilal, for inviting us here today to Bankstown.
As you can see, there’s a lot of activity going on in Bankstown. As the Mayor just said, Bankstown is booming. As part of the New South Wales Government’s work to build more housing, our focus is building better communities. When we did the master planning and rezoned areas around the Transport Oriented Development’s accelerated precincts, we made it very, very clear thatwe were not just building housing, we were building communities. That means vibrant communities with access to jobs, access to transport, and access to good public spaces.This financial support, the $228.2 million from the Commonwealth Government to go towards accelerating the delivery of those new public spaces, will be an important contribution to that work that the New South Wales Government is undertaking.
Together, in the first tranche, Bankstown’s accelerated precinct, along with the accelerated precincts in Kellyville and Bella Vista, have been identified for those priority public spaces. We’ll continue to work with the council here in Canterbury Bankstown, through the Parks for People program, to deliver those public spaces to make sure that alongside the homes, alongside the jobs, alongside the transport activity that’s going here, is going to be the public spaces that people need, green spaces for people to meet, to recreate, to engage with other parts of the community. It’s really vital that we look at those areas not just from an environmental perspective, but the social benefit they bring.
I’ll leave some further comments on the social housing part to Minister Jackson, but I’d just like to acknowledge the hard work of the Mayor and the council here at Canterbury Bankstown. They have been in lockstep with the New South Wales Government right the way through this process, identifying and recognising that Bankstown and Canterbury are great places to live and will continue to be, but there are even better places, courtesy of this contribution from the Albanese Government, to make sure that we can get those green spaces underway, get those recreational spaces underway as we deliver new homes and as we complete the work on the metro here. Minister Jackson.
ROSE JACKSON: We know that New South Wales is in a housing crisis. The number one issue that’s raised with us when we’re talking to the community is cost of living. That is the thing that the community is absolutely determined that governments understand is hitting them hard, and we know that part of addressing cost of living is to delivering more affordable housing. It’s simply too expensive to find a place to buy and rent. What the State Government and the Federal Government are determined to do is put our money where our mouth is when it comes to addressing that crisis. So the State’s put $5.1 billion into building more social housing, and we are incredibly thrilled to have a federal partner that is willing to come to the table and contribute as well. This announcement alone is another $70 million to build social housing. We know that we need growth. We know we need more homes. But it’s not just any old growth, it’s good growth. It’s growth that delivers better, more diverse communities. And yes, that’s infrastructure, that’s green space, that’s community amenity, that’s transport. But it’s also diverse types of homes, and social and affordable housing is part of that mix.
With this $70 million, we’re going to be able to bring hundreds of new social housing properties online. We’ve already started that work from east to west, from Randwick to Campbelltown. We’re looking at acquiring homes in places like Lismore and Tweed as well – areas recently hit by Tropical Cyclone Alfred. So this is exactly the kind of working together between state and federal governments that are going to be necessary to confront the housing crisis.
It’s also really important to call out our local government partners, local councils, we’ve always been up front, have been a little bit of a mixed bag when it’s come to supporting housing. Not Canterbury-Bankstown – this is a council that is deeply invested in building a great community here, and it’s fantastic to have Mayor Bilal El-Hayek here alongside us to demonstrate all three levels of government working together. This is yet more money to build the homes that people need, that security of a roof over your head. We need a federal government that is willing to stick to the course when it comes to supporting housing, and the State Government is ready to stand right alongside it, using the funding to deliver homes that we know are desperately needed in this state.
CATHERINE KING: Happy to take any questions.
JOURNALIST: Well, may I ask about the allegations yesterday [indistinct] …
CATHERINE KING: [Interrupts] Sure – have you’ve got any questions on this- the announcement today yet? Nope, okay. Happy to take further- other questions, sure.
JOURNALIST: … allegations last night on60 Minutesand Nine papers about more corrupt and [indistinct], specifically in Victoria. I note one area of Victoria on the North East Link Road where federal taxpayers have already committed $3 billion to this project. How can federal taxpayers know that there won’t be any sort of- or, you know, if that money’s being overinflated, or if there’s any sort of corruption or wrongdoing in that process?
CATHERINE KING: Yeah, so we have zero tolerance for criminal activities on any work site, and especially on our building work sites. We have already taken strong action against the CFMEU by placing it in administration, and the administrator continues to do his work. When this broke some time ago, in terms of the CFMEU, I was in the process of negotiating new federated funding agreements with every state and territory. In those agreements, we have inserted new clauses that require states and territories to ensure they are- that we are receiving value for money on every single project where the Commonwealth is investing, that we are prioritising businesses that engage in ethical business practices. And I also wrote to every state and territory minister asking their assurance that proper checks are being put in place to ensure that- again, that value for Australian taxpayer dollars, and if there is any criminal activity seen on any of the sites where the Commonwealth is investing that that immediately be reported both to the administrator, to the police and also to my department. And we’ll continue to work with every state and territory in relation to that.
But I want to make it very clear: this is hard fought money. Taxpayers don’t want to see their money going to criminals, and that is incredibly important that every state and territory ensures that it’s got the assurance processes in place to make sure that we are getting value for money for every taxpayer dollar.
JOURNALIST: Did the Federal Government conduct its own audit of the $3 billion in this project?
CATHERINE KING: Well, again, what we have asked quite specifically is that every state and territory give us those assurances. I saw the program on60 Minuteslast night. If there is more that needs to be done, I’ll have a look at that. But what we have asked is every state and territory to assure us that they have the processes in place to make sure that this activity is not being undertaken. Thanks everyone.
Some have said Christopher Luxon’s pledge to get a free trade deal between New Zealand and India over the line in his first term as prime minister was overly optimistic. But not all trade deals are the same, and Luxon may yet get to claim bragging rights.
Already he is managing expectations, saying a “good” deal will be better than waiting a long time for a “perfect” one. And with formal negotiations confirmed not long after Luxon touched down in New Delhi, we can perhaps expect genuine movement.
At the same time, India’s negotiating style is notoriously rigid, with its bilateral investment treaty model having proved a stumbling block to deals with many other nations or blocs, including the United Kingdom and European Union.
New Zealand first held formal negotiations with India over a decade ago. But talks derailed in 2015 over the inclusion of dairy products in any agreement. We can be fairly sure this will be the compromise Luxon’s government is ready to make now.
Beyond the economic implications, of course, lie domestic political calculations. Luxon needs a win to counter flatlining poll numbers and speculation about his leadership future. Good news in India offers just that.
Playing the Indo-Pacific card
Using diplomatic language that plays up New Zealand being part of the Indo-Pacific region – rather than the traditional Western alliance – will be essential.
New Zealand – despite its relatively small size – is still a significant regional player, with the Indo-Pacific’s fourth highest GDP per capita.
In the context of an imminent “Asian Century”, and the region becoming a crucial zone for economic and military power, New Zealand also provides a strategic pathway into the Pacific, where India is becoming increasingly involved.
All of this will influence Luxon’s keynote address today at the 10th Raisina Dialogue, India’s flagship multilateral conference on global politics and economics. He is the first leader not governing a European country to make such a speech, and is also the chief guest at the dialogue.
Luxon is already on the record as saying New Zealand and India are “very aligned” on Indo-Pacific security and concerns over Chinese regional influence, with scope for more joint defence exercises. This linkage between security and trade mirrors Wellington’s recent relations with Beijing, which have become increasingly difficult to navigate.
Solid foundations
But there is a long way to go. In 2024, India-New Zealand trade was worth a combined NZ$3.14 billion – a fraction of the $208.46 billion generated by trade with China in the same year.
Nevertheless, Luxon and his ministers have made undeniable progress. His “recalibration of a relationship that has long been neglected” bore fruit in October last year when he met Indian Prime Minister Narendra Modi at the ASEAN summit, and the countries announced their intention to take the relationship to “greater heights”.
The previous Labour government helped set the scene with a succession of high-level diplomatic visits and parliamentary exchanges. In 2023, the Indian government described relations with New Zealand as having “an upward trajectory”.
And there are clearly good foundations to build on – especially the 292,000 people of Indian ethnicity in New Zealand, who contribute US$10 billion to the New Zealand economy.
Great expectations
Trade is ripe for expansion, too. New Zealand primarily exports wool, iron and steel, aluminium, fruits and nuts, wood pulp and recovered paper, and imports Indian pharmaceuticals, machinery, precious metals and stones, textiles, vehicles and clothing.
There were 8,000 Indian students in New Zealand last year, a number that may well grow given a relative drop in student numbers from China. With the US and UK becoming more hostile to immigration, New Zealand can offer a relatively safe and tolerant alternative.
As such, while Luxon has momentum on a trade deal, he is also part of a long queue. Given the relative power imbalance between the two countries, the weight of expectation sits squarely on his shoulders.
Chris Ogden is a Senior Research Fellow with The Foreign Policy Centre, London.
Hong Kong registered 8.4 million visitor arrivals in the first two months of 2025, up 7 percent year on year, the Hong Kong Tourism Board (HKTB) said.
Among them, approximately 6.5 million visitor arrivals were from the mainland, up 4 percent from last year. Visitor arrivals from elsewhere jumped significantly, hitting 1.91 million and representing a 20 percent increase from last year, the HKTB data showed.
Short-haul markets have shown particularly strong performance, with 1.13 million visitor arrivals recorded in the reporting months, up 26 percent. Notably, travelers from the Philippines, Indonesia, Japan, and South Korea all increased over 30 percent.
In the long-haul sector, around 500,000 arrivals were made from overseas, reflecting a 20 percent increase, with Australia leading the way at an impressive growth rate of 34 percent.
To enhance experience for travelers, the tourism board has launched a new program platform titled “Hong Kong Great Outdoors,” designed to introduce global visitors to the city’s scenic hiking trails, outlying islands, and geological parks.
The recent budget proposal from the Hong Kong Special Administrative Region government for the fiscal year 2025/2026 included a significant allocation of 1.235 billion Hong Kong dollars (158.8 million U.S. dollars) to the tourism board, aimed at realizing the concept of “tourism is everywhere” and implementing the Development Blueprint for Hong Kong’s Tourism Industry 2.0.
Australian artists can expect more money in their pockets when their works are resold overseas, with international reciprocity being extended to a further nine countries under the Albanese Labor Government’s Resale Royalty Scheme.
The nine countries are: Estonia, Greece, Lithuania, Mexico, New Zealand, Poland, Romania, Slovakia, and Uruguay. This takes the list of total participating countries to 26.
Under the Scheme, visual artists are entitled to a five per cent share on eligible resales of their original works valued at $1,000 or more in Australia, and the ability to access local schemes in participating countries when their works are resold there.
The extension delivers on the Government’s commitment outlined in the National Cultural Policy, Revive, to enhance the scheme to provide royalty payments to artists, including First Nations artists, under international arrangements.
The changes come into effect on 31 March 2025.
Minister for the Arts, Tony Burke, said the expanded list would give artists the remuneration they deserve.
“We’re ensuring Australian artists are properly compensated for their work when they first sell it and on future sales. Just like when you purchase a book or an album, the artist gets a cut each time.
“So far more than $16 million in royalties have been generated, which artists would have otherwise missed out on.
“Our Government is committed to creating a fairer playing field and supporting our home-grown talent both locally and abroad.”
The Resale Royalty Right for Visual Artist Act 2009 provides visual artists with royalty rights similar to other creators such as songwriters or authors.
Under the act, auction houses and galleries are required to report resales to Copyright Agency, which determines eligibility, collects royalties and pays them to artists.
Source: Australian Competition and Consumer Commission
Click to enlargeAustralia’s four largest airports, Brisbane, Melbourne, Perth and Sydney, each reported their highest ever aeronautical revenues in 2023-24, the ACCC’s latest Airport Monitoring Report shows.
The 24.3 per cent increase in revenues to $2.6 billion occurred despite the four major airports collectively handling fewer passengers than before the pandemic. While domestic and international passengers grew by 13.7 per cent to 114.6 million since 2022-23, passenger numbers remained 4.7 per cent below 2018-19 levels.
“The increase in aeronautical revenues in 2023-24 was driven in large part by the continued recovery in international passenger numbers, which rose by 32.1 per cent at the four airports monitored in our report,” ACCC Commissioner Anna Brakey said.
“Domestic passenger numbers also grew by 6.7 per cent.”
Sydney, Brisbane and Melbourne airports also substantially increased their operating profits from aeronautical activities in 2023-24.
“Sydney Airport was once again clearly the most profitable of the four major airports for aeronautical services in 2023-24, both in aggregate and on a per-passenger basis,” Ms Brakey said.
In 2023-24 Sydney Airport recorded an aeronautical operating profit of $570.5 million, which represented a 20.2 per cent return on its aeronautical assets. Sydney Airport advised that both its aeronautical revenues and operating profits in the year were inflated by back-payments received during the 2023-24 financial year from its contractual agreements with airlines. The agreements started on 1 July 2022, but the terms were not agreed to until the 2023-24 financial year.
Brisbane and Melbourne airports reported aeronautical operating profits of $194.7 million and $198.9 million respectively, despite Brisbane Airport catering to far fewer passengers than Melbourne Airport. Both airports reported a 64.1 per cent increase in aeronautical operating profit in 2023-24.
Perth Airport was the only monitored airport to report a fall in aeronautical profits, down by 29.1 per cent to $70.7 million after a significant increase in security and depreciation expenses.
Car parking profits and ‘landside access’ revenues up
Operating profits from car parking grew for all four airports in 2023-24. Brisbane Airport made the largest profits, increasing by 21.1 per cent to $113.4 million. Melbourne Airport made an operating profit of $108.1 million from car parking, followed by Sydney Airport with $95.6 million and Perth Airport with $70.7 million.
All four monitored airports reported operating profit margins above 60 per cent for the second year in a row for their car parking operations.
“Car parking remains a very profitable business for the monitored airports as they report strong demand for parking,” Ms Brakey said.
“Brisbane Airport made an operating profit of 76.6 cents for every dollar of revenue it collected from car parking.”
Sydney Airport was the most expensive for 30 to 60 minute parking and parking for up to 24 hours at the terminal, while Melbourne Airport was the cheapest in both categories.
Long-term parking at a distance from the terminal booked online was most expensive at Perth and Sydney airports and cheapest at Melbourne Airport.
“To save money, motorists are encouraged to book online, if possible, instead of paying the drive-up rates, and should consider using free waiting zones at the airports,” Ms Brakey said.
Revenues from landside transport access services, such as rideshare operators, taxis and buses, grew by 18 per cent to $69.6 million, as vehicle numbers rebounded. All four airports continued to report a growth in rideshare services.
Airports maintain their ‘good’ quality of service rating, despite falling satisfaction from airlines
All four airports maintained an average overall rating of ‘good’ for the quality of service and facilities in 2023-24.
These results were mainly due to high ratings by passengers, continuing consistent trends over the last 10 years.
Ratings by airlines generally fell, and all four airports received only a ‘satisfactory’ result. The most common airline concerns related to aircraft parking facilities, baggage facilities, common user check-in facilities, aerobridges and public amenities.
“The airports all maintained their ‘good’ rating for quality of service, which is based on surveys of passengers and airlines, as well as objective measures such as the number of check-in kiosks per passenger,” Ms Brakey said.
“However, the falling satisfaction from airlines indicates the airports have some work to do.”
Airports have recommenced investment after Covid
After years of relatively little investment due to the pandemic, the airports have invested $985.1 million in aeronautical facilities in 2023-24, a figure set to increase in coming years.
Melbourne airport’s $502.3 million investment accounted for more than half the total investment in aeronautical assets in 2023-24. This included work on runway overlays, taxiways and terminals, such as the replacement of passenger screening equipment as well as works to resurface the north-south runway and replace the lighting system.
Other major projects underway, or recently announced, include new runways for Melbourne and Perth, new terminals for Perth and Brisbane, upgrades to terminals in Brisbane, Sydney and Melbourne.
A new airport will also open at Western Sydney in 2026.
“While the four major airports held back on investment during the pandemic period, this is starting to change now there is more certainty around demand for travel,” Ms Brakey said.
“These significant capital works should help increase capacity at our major airports, leading to more flight options for travellers.”
Background
Under direction from the Australian Government, the ACCC monitors the prices, costs and profits of aeronautical and car parking services at Australia’s four largest airports. The ACCC also monitors the quality of these services under the Airports Act.
The possible ratings for airport quality of services are ‘very poor’, ‘poor’, ‘satisfactory’, ‘good’ or ‘excellent’.
The ACCC measures operating profit by earnings before interest, taxes and amortisation (EBITA). Operating profit margin is EBITA as a percentage of revenue.
Aeronautical operations are those that directly relate to providing aviation services, including runways, aprons, aerobridges, departure lounges and baggage handling equipment.
SPECIAL REPORT:By Peter Cronau for Declassified Australia
Australia is caught in a jam, between an assertive American ally and a bold Chinese trading partner. America is accelerating its pivot to the Indo-Pacific, building up its fighting forces and expanding its military bases.
As Australia tries to navigate a pathway between America’s and Australia’s national interests, sometimes Australia’s national interest seems to submerge out of view.
Admiral David Johnston, the Chief of the Australia’s Defence Force, is steering this ship as China flexes its muscle sending a small warship flotilla south to circumnavigate the continent.
He has admitted that the first the Defence Force heard of a live-fire exercise by the three Chinese Navy ships sailing in the South Pacific east of Australia on February 21, was a phone call from the civilian Airservices Australia.
“The absence of any advance notice to Australian authorities was a concern, notably, that the limited notice provided by the PLA could have unnecessarily increased the risk to aircraft and vessels in the area,” Johnston told Senate Estimates .
Johnston was pressed to clarify how Defence first came to know of the live-fire drill: “Is it the case that Defence was only notified, via Virgin and Airservices Australia, 28 minutes [sic] after the firing window commenced?”
To this, Admiral Johnston replied: “Yes.”
If it happened as stated by the Admiral — that a live-fire exercise by the Chinese ships was undertaken and a warning notice was transmitted from the Chinese ships, all without being detected by Australian defence and surveillance assets — this is a defence failure of considerable significance.
Sources with knowledge of Defence spoken to by Declassified Australia say that this is either a failure of surveillance, or a failure of communication, or even more far-reaching, a failure of US alliance cooperation.
And from the very start the official facts became slippery.
Our latest investigation –
AUSTRALIA’S DEFENCE: NAVIGATING US-CHINA TENSIONS
We investigate a significant intelligence failure to detect live-firing by Chinese warships near Australia, has exposed Defence weaknesses, and the fact that when it counts, we are all alone.
— Declassified Australia (@DeclassifiedAus) March 7, 2025
What did they know and when did they know it The first information passed on to Defence by Airservices Australia came from the pilot of a Virgin passenger jet passing overhead the flotilla in the Tasman Sea that had picked up the Chinese Navy VHF radio notification of an impending live-fire exercise.
The radio transmission had advised the window for the live-fire drill commenced at 9.30am and would conclude at 3pm.
We know this from testimony given to Senate Estimates by the head of Airservices Australia. He said Airservices was notified at 9.58am by an aviation control tower informed by the Virgin pilot. Two minutes later Airservices issued a “hazard alert” to commercial airlines in the area.
The Headquarters of the Defence Force’s Joint Operations Command (HJOC), at Bungendore 30km east of Canberra, was then notified about the drill by Airservices at 10.08am, 38 minutes after the drill window had commenced.
When questioned a few days later, Prime Minister Anthony Albanese appeared to try to cover for Defence’s apparent failure to detect the live-fire drill or the advisory transmission.
“At around the same time, there were two areas of notification. One was from the New Zealand vessels that were tailing . .. the [Chinese] vessels in the area by both sea and air,” Albanese stated. “So that occurred and at the same time through the channels that occur when something like this is occurring, Airservices got notified as well.”
But the New Zealand Defence Force had not notified Defence “at the same time”. In fact it was not until 11.01am that an alert was received by Defence from the New Zealand Defence Force — 53 minutes after Defence HQ was told by Airservices and an hour and a half after the drill window had begun.
The Chinese Navy’s stealth guided missile destroyer Zunyi, sailing south in the Coral Sea on February 15, 2025, in a photograph taken from a RAAF P-8A Poseidon surveillance plane. Image: Royal Australian Air Force/Declassified Australia
Defence Minister Richard Marles later in a round-about way admitted on ABC Radio that it wasn’t the New Zealanders who informed Australia first: “Well, to be clear, we weren’t notified by China. I mean, we became aware of this during the course of the day.
“What China did was put out a notification that it was intending to engage in live firing. By that I mean a broadcast that was picked up by airlines or literally planes that were commercial planes that were flying across the Tasman.”
Later the Chinese Ambassador to Australia, Xiao Qian, told ABC that two live-fire training drills were carried out at sea on February 21 and 22, in accordance with international law and “after repeatedly issuing safety notices in advance”.
Eyes and ears on ‘every move’ It was expected the Chinese-navy flotilla would end its three week voyage around Australia on March 7, after a circumnavigation of the continent. That is not before finally passing at some distance the newly acquired US-UK nuclear submarine base at HMAS Stirling near Perth and the powerful US communications and surveillance base at North West Cape.
Just as Australia spies on China to develop intelligence and targeting for a potential US war, China responds in kind, collecting data on US military and intelligence bases and facilities in Australia, as future targets should hostilities commence.
The presence of the Chinese Navy ships that headed into the northern and eastern seas around Australia attracted the attention of the Defence Department ever since they first set off south through the Mindoro Strait in the Philippines and through the Indonesian archipelago from the South China Sea on February 3.
“We are keeping a close watch on them and we will be making sure that we watch every move,” Marles stated in the week before the live-fire incident.
“Just as they have a right to be in international waters . . . we have a right to be prudent and to make sure that we are surveilling them, which is what we are doing.”
Around 3500 km to the north, a week into the Chinese ships’ voyage, a spy flight by an RAAF P-8A Poseidon surveillance plane on February 11, in a disputed area of the South China Sea south of China’s Hainan Island, was warned off by a Chinese J-16 fighter jet.
The Chinese Foreign Ministry responded to Australian protests claiming the Australian aircraft “deliberately intruded” into China’s claimed territorial airspace around the Paracel Islands without China’s permission, thereby “infringing on China’s sovereignty and endangering China’s national security”.
Australia criticised the Chinese manoeuvre, defending the Australian flight saying it was “exercising the right to freedom of navigation and overflight in international waters and airspace”.
Two days after the incident, the three Chinese ships on their way to Australian waters were taking different routes in beginning their own “right to freedom of navigation” in international waters off the Australian coast. The three ships formed up their mini flotilla in the Coral Sea as they turned south paralleling the Australian eastern coastline outside of territorial waters, and sometimes within Australia’s 200-nautical-mile (370 km) Exclusive Economic Zone.
“Defence always monitors foreign military activity in proximity to Australia. This includes the Peoples Liberation Army-Navy (PLA-N) Task Group.” Admiral Johnston told Senate Estimates.
“We have been monitoring the movement of the Task Group through its transit through Southeast Asia and we have observed the Task Group as it has come south through that region.”
The Task Group was made up of a modern stealth guided missile destroyer Zunyi, the frigate Hengyang, and the Weishanhu, a 20,500 tonne supply ship carrying fuel, fresh water, cargo and ammunition. The Hengyang moved eastwards through the Torres Strait, while the Zunyi and Weishanhu passed south near Bougainville and Solomon Islands, meeting in the Coral Sea.
This map indicates the routes taken by the three Chinese Navy ships on their “right to freedom of navigation” voyage in international waters circumnavigating Australia, with dates of way points indicated — from 3 February till 6 March 2025. Distances and locations are approximate. Image: Weibo/Declassified Australia
As the Chinese ships moved near northern Australia and through the Coral Sea heading further south, the Defence Department deployed Navy and Air Force assets to watch over the ships. These included various RAN warships including the frigate HMAS Arunta and a RAAF P-8A Poseidon intelligence, surveillance and reconnaissance plane.
With unconfirmed reports a Chinese nuclear submarine may also be accompanying the surface ships, the monitoring may have also included one of the RAN’s Collins-class submarines, with their active range of sonar, radar and radio monitoring – however it is uncertain whether one was able to be made available from the fleet.
“From the point of time the first of the vessels entered into our more immediate region, we have been conducting active surveillance of their activities,” the Defence chief confirmed.
As the Chinese ships moved into the southern Tasman Sea, New Zealand navy ships joined in the monitoring alongside Australia’s Navy and Air Force.
The range of signals intelligence (SIGINT) that theoretically can be intercepted emanating from a naval ship at sea includes encrypted data and voice satellite communications, ship-to-ship communications, aerial drone data and communications, as well as data of radar, gunnery, and weapon launches.
There are a number of surveillance facilities in Australia that would have been able to be directed at the Chinese ships.
Australian Signals Directorate’s (ASD) Shoal Bay Receiving Station outside of Darwin, picks up transmissions and data emanating from radio signals and satellite communications from Australia’s near north region. ASD’s Cocos Islands receiving station in the mid-Indian ocean would have been available too.
The Jindalee Operational Radar Network (JORN) over-the-horizon radar network, spread across northern Australia, is an early warning system that monitors aircraft and ship movements across Australia’s north-western, northern, and north-eastern ocean areas — but its range off the eastern coast is not thought to presently reach further south than the sea off Mackay on the Queensland coast.
Of land-based surveillance facilities, it is the American Pine Gap base that is believed to have the best capability of intercepting the ship’s radio communications in the Tasman Sea.
Enter, Pine Gap and the Americans The US satellite surveillance base at Pine Gap in Central Australia is a US and Australian jointly-run satellite ground station. It is regarded as the most important such American satellite base outside of the USA.
The spy base – Joint Defence Facility Pine Gap (JDFPG) – showing the north-eastern corner of the huge base with some 18 of the base’s now 45 satellite dishes and covered radomes visible. Image: Felicity Ruby/Declassified Australia
The role of ASD in supporting the extensive US surveillance mission against China is increasingly valued by Australia’s large Five Eyes alliance partner.
A Top Secret ‘Information Paper’, titled “NSA Intelligence Relationship with Australia”, leaked from the National Security Agency (NSA) by Edward Snowden and published by ABC’s Background Briefing, spells out the “close collaboration” between the NSA and ASD, in particular on China:
“Increased emphasis on China will not only help ensure the security of Australia, but also synergize with the U.S. in its renewed emphasis on Asia and the Pacific . . . Australia’s overall intelligence effort on China, as a target, is already significant and will increase.”
The Pine Gap base, as further revealed in 2023 by Declassified Australia, is being used to collect signals intelligence and other data from the Israeli battlefield of Gaza, and also Ukraine and other global hotspots within view of the US spy satellites.
It’s recently had a significant expansion (reported by this author in The Saturday Paper) which has seen its total of satellite dishes and radomes rapidly increase in just a few years from 35 to 45 to accommodate new heightened-capability surveillance satellites.
Pine Gap base collects an enormous range and quantity of intelligence and data from thermal imaging satellites, photographic reconnaissance satellites, and signals intelligence (SIGINT) satellites, as expert researchers Des Ball, Bill Robinson and Richard Tanter of the Nautilus Institute have detailed.
These SIGINT satellites intercept electronic communications and signals from ground-based sources, such as radio communications, telemetry, radar signals, satellite communications, microwave emissions, mobile phone signals, and geolocation data.
Alliance priorities The US’s SIGINT satellites have a capability to detect and receive signals from VHF radio transmissions on or near the earth’s surface, but they need to be tasked to do so and appropriately targeted on the source of the transmission.
For the Pine Gap base to intercept VHF radio signals from the Chinese Navy ships, the base would have needed to specifically realign one of those SIGINT satellites to provide coverage of the VHF signals in the Tasman Sea at the time of the Chinese ships’ passage. It is not known publicly if they did this, but they certainly have that capability.
However, it is not only the VHF radio transmission that would have carried information about the live-firing exercise.
Pine Gap would be able to monitor a range of other SIGINT transmissions from the Chinese ships. Details of the planning and preparations for the live-firing exercise would almost certainly have been transmitted over data and voice satellite communications, ship-to-ship communications, and even in the data of radar and gunnery operations.
But it is here that there is another possibility for the failure.
The Pine Gap base was built and exists to serve the national interests of the United States. The tasking of the surveillance satellites in range of Pine Gap base is generally not set by Australia, but is directed by United States’ agencies, the National Reconnaissance Office (NRO) together with the US Defense Department, the National Security Agency (NSA), and Central Intelligence Agency (CIA).
Australia has learnt over time that US priorities may not be the same as Australia’s.
Australian defence and intelligence services can request surveillance tasks to be added to the schedule, and would have been expected to have done so in order to target the southern leg of the Chinese Navy ships’ voyage, when the ships were out of the range of the JORN network.
The military demands for satellite time can be excessive in times of heightened global conflict, as is the case now.
Whether the Pine Gap base was devoting sufficient surveillance resources to monitoring the Chinese Navy ships, due to United States’ priorities in Europe, Russia, the Middle East, Africa, North Korea, and to our north in the South China Sea, is a relevant question.
It can only be answered now by a formal government inquiry into what went on — preferably held in public by a parliamentary committee or separately commissioned inquiry. The sovereign defence of Australia failed in this incident and lessons need to be learned.
Who knew and when did they know If the Pine Gap base had been monitoring the VHF radio band and heard the Chinese Navy live-fire alert, or had been monitoring other SIGINT transmissions to discover the live-fire drill, the normal procedure would be for the active surveillance team to inform a number of levels of senior officers, a former Defence official familiar with the process told Declassified Australia.
Inside an operations room at the Australian Signals Directorate (ASD) head office at the Defence complex at Russell Hill in Canberra. Image: ADF/Declassified Australia
Expected to be included in the information chain are the Australian Deputy-Chief of Facility at the US base, NSA liaison staff at the base, the Australian Signals Directorate head office at the Defence complex at Russell Hill in Canberra, the Defence Force’s Headquarters Joint Operations Command, in Bungendore, and the Chief of the Defence Force. From there the Defence Minister’s office would need to have been informed.
As has been reported in media interviews and in testimony to the Senate Estimates hearings, it has been stated that Defence was not informed of the Chinese ships’ live-firing alert until a full 38 minutes after the drill window had commenced.
The former Defence official told Declassified Australia it is vital the reason for the failure to detect the live-firing in a timely fashion is ascertained.
Either the Australian Defence Force and US Pine Gap base were not effectively actively monitoring the Chinese flotilla at this time — and the reasons for that need to be examined — or they were, but the information gathered was somewhere stalled and not passed on to correct channels.
If the evidence so far tendered by the Defence chief and the Minister is true, and it was not informed of the drill by any of its intelligence or surveillance assets before that phone call from Airservices Australia, the implications need to be seriously addressed.
A final word In just a couple of weeks the whole Defence environment for Australia has changed, for the worse.
The US military announces a drawdown in Europe and a new pivot to the Indo-Pacific. China shows Australia it can do tit-for-tat “navigational freedom” voyages close to the Australian coast. US intelligence support is withdrawn from Ukraine during the war. Australia discovers the AUKUS submarines’ arrival looks even more remote. The prime minister confuses the limited cover provided by the ANZUS treaty.
Meanwhile, the US militarisation of Australia’s north continues at pace. At the same time a senior Pentagon official pressures Australia to massively increase defence spending. And now, the country’s defence intelligence system has experienced an unexplained major failure.
Australia, it seems, is adrift in a sea of unpredictable global events and changing alliance priorities.
Peter Cronau is an award-winning, investigative journalist, writer, and film-maker. His documentary, The Base: Pine Gap’s Role in US Warfighting, was broadcast on Australian ABC Radio National and featured on ABC News. He produced and directed the documentary film Drawing the Line, revealing details of Australian spying in East Timor, on ABC TV’s premier investigative programme Four Corners. He won the Gold Walkley Award in 2007 for a report he produced on an outbreak of political violence in East Timor. This article was first published by Declassified Australia and is republished here with the author’s permission.
Attorney-General Judith Collins today announced the appointment of two new Family Court Judges.
The new Judges will take up their roles in April and May and fill Family Court vacancies at the Auckland and Manukau courts.
Annette Gray
Ms Gray completed her law degree at Victoria University before joining Phillips Fox in 1987. She then moved to Buddle Findlay, where she worked in the family and medical areas, before joining specialist family law practice Jan Clark Law in Porirua in 1994.
Ms Gray spent a year with Volunteer Service Abroad in Solomon Islands in 1999, returning to Wellington in 2000 and setting up practice as a specialist family lawyer. Since 2007 she has been principal of Buchanan Gray.
She is a District Inspector under the Mental Health Act and is a member of the panel of legal counsel for Hague Convention cases.
Judge Gray will sit in Auckland and will be sworn in on 16 April.
Annette Page
Ms Page was admitted to the bar in 1997 and commenced her legal career as a junior barrister working with Marie Dyhrberg KC before joining Smith and Partners in Waitākere, practising a broad range of litigation work in the District and High courts.
She has been a barrister sole since 2010, practising in all areas of family law.
Ms Page has held several roles within the New Zealand Law Society and is presently the Waitākere regional representative of the Family Law Section.
Judge Page will sit in Manukau and will be sworn in on 1 May.
Man charged with trafficking following vehicle search
Monday, 17 March 2025 – 10:39 am.
A man has been charged with trafficking after police seized quantities of methamphetamine and MDMA during a vehicle search on Friday evening. Police from Central North intercepted the vehicle on Mole Creek Road just before 7.30pm, locating and seizing the drugs as well as ammunition and a stolen firearm part. During a subsequent search of a private residence at Gravelly Beach, members of Central North, Northern Criminal Investigation Division and Launceston Uniform located and seized further quantities of MDMA, further ammunition, and two firearm silencers. A 26-year-old Gravelly Beach man was arrested and charged with trafficking, firearms offences and minor drug offences. He will appear in the Launceston Magistrates Court in May.
Police detect 43 speeding drivers during targeted operation in North
Monday, 17 March 2025 – 10:47 am.
Police detected 43 speeding drivers during a three-hour highway operation in the North on Friday afternoon. Members of Northern Road Policing Services targeted speeding during the operation, with one driver caught overtaking an unmarked police vehicle while travelling at 138km/h. The driver – who was intercepted by police – was already disqualified from driving. He will appear in court at a later date. Police also intercepted a P1 licence holder – with a 100km/h restriction on their licence -who was travelling at 125km/h. The P-plater was fined $353.50 and received three demerit points. In addition to the 43 speeding drivers, police also intercepted a driver whose vehicle registration had been expired for nine months. Acting Sergeant Daniel Midson said the results were disappointing. “Road safety is everyone’s responsibility, and we are urging all road users to make safer choices,” he said. “Tasmania Police is committed to reducing the number of deaths and injuries on our roads, which is why we conduct a range of enforcement activities to make our roads safer for everyone.” To report dangerous driving, call police on 131 44 or Triple Zero (000) in an emergency. Footage can also be uploaded to the Tasmania Police evidence portal at https://www.police.tas.gov.au/report/
Source: Australia Government Statements – Agriculture
17 March 2025
Who does this notice affect?
Stakeholders in the import and shipping industries—including vessel masters, freight forwarders, offshore treatment providers, Biosecurity Industry Participants, importers, customs brokers, principal agents and master consolidators.
What has changed?
Following identification of critical non-compliance, we have suspended Descroes BV (AEI: BE4001SB) from AusTreat.
The treatment provider has been listed as ‘suspended’…
The Reserve Bank of Australia (RBA) is today announcing the theme for the updated $5 banknote, which will honour the enduring emotional, spiritual, and physical connection of First Nations peoples to country.
Assistant Governor (Business Services) Michelle McPhee says, ‘The theme encompasses the deep connection First Nations peoples have to the land, the waters and the sky.’
‘This inspiring theme will guide the creation of an artwork that will feature on the redesigned banknote.’
‘The selection of a theme follows an Australia-wide campaign, which led to more than 2,100 theme nominations from the public.’
‘We extend our gratitude to everyone who made a submission.’
Theme for the $5 Banknote
For Aboriginal and Torres Strait Islander people, Country is more than just the land. Country is the land, the waters, and the sky. All are connected. The imagery on the $5 banknote should recognise the enduring connection that First Nations peoples have to Country – as an emotional and spiritual connection, as much as a physical one.
An important context for this connection is the overturning of the concept of terra nullius. This action recognised the existence of Aboriginal and Torres Strait Islander people’s relationship to Country for thousands of years. The artist is invited to reflect how this decision has shaped a positive future for First Nations peoples.
Key to this theme is the recognition of First Nations communities’ contribution to the restoration and conservation of our environment. Using traditional ecological knowledge First Nations peoples continue to act as custodians to sustain and conserve Country. There is an opportunity for all Australians to learn from Australia’s original stewards on how to nurture and protect our fragile world.
The theme should be represented in a way that recognises the diversity of First Nations peoples, across Australia and the Torres Strait. In acknowledging connection and caring for Country the theme should be inclusive, recognising the nature of Country varies, but it is all connected – the land, waters and sky. The artwork should avoid being tokenistic or stereotypical. The tone for the banknote is of a hopeful future, where First Nation peoples’ connection to Country is celebrated and respected.
Background
Before selecting the theme, the RBA engaged with First Nations organisations across the country to build awareness and encourage the submission of ideas.
The $5 Redesign Imagery Selection Panel, which includes First Nations representatives and representatives from the RBA and Note Printing Australia, selected the theme.
The new design will replace the portrait of Her Majesty Queen Elizabeth II, while the reverse side will continue to feature the Australian Parliament. The new design will reflect the chosen theme and incorporate artwork from a First Nations artist.
Source: US National Oceanic and Atmospheric Administration
Note: The expiration time in the watch graphic is amended if the watch is replaced, cancelled or extended.Note: Click for Watch Status Reports. SEL6
URGENT – IMMEDIATE BROADCAST REQUESTED Tornado Watch Number 56 NWS Storm Prediction Center Norman OK 740 PM EDT Sun Mar 16 2025
The NWS Storm Prediction Center has issued a
* Tornado Watch for portions of Central and Eastern North Carolina Southern Virginia
* Effective this Sunday night and Monday morning from 740 PM until 100 AM EDT.
* Primary threats include… A couple tornadoes possible Scattered damaging wind gusts to 70 mph possible Isolated large hail events to 1.5 inches in diameter possible
SUMMARY…Scattered severe thunderstorms will move northeast across the watch area this evening, with a risk for a couple tornadoes, damaging gusts, and isolated large hail.
The tornado watch area is approximately along and 65 statute miles east and west of a line from 30 miles west northwest of Richmond VA to 20 miles east southeast of Fayetteville NC. For a complete depiction of the watch see the associated watch outline update (WOUS64 KWNS WOU6).
PRECAUTIONARY/PREPAREDNESS ACTIONS…
REMEMBER…A Tornado Watch means conditions are favorable for tornadoes and severe thunderstorms in and close to the watch area. Persons in these areas should be on the lookout for threatening weather conditions and listen for later statements and possible warnings.
&&
AVIATION…Tornadoes and a few severe thunderstorms with hail surface and aloft to 1.5 inches. Extreme turbulence and surface wind gusts to 60 knots. A few cumulonimbi with maximum tops to 450. Mean storm motion vector 23035.
…Bunting
SEL6
URGENT – IMMEDIATE BROADCAST REQUESTED Tornado Watch Number 56 NWS Storm Prediction Center Norman OK 740 PM EDT Sun Mar 16 2025
The NWS Storm Prediction Center has issued a
* Tornado Watch for portions of Central and Eastern North Carolina Southern Virginia
* Effective this Sunday night and Monday morning from 740 PM until 100 AM EDT.
* Primary threats include… A couple tornadoes possible Scattered damaging wind gusts to 70 mph possible Isolated large hail events to 1.5 inches in diameter possible
SUMMARY…Scattered severe thunderstorms will move northeast across the watch area this evening, with a risk for a couple tornadoes, damaging gusts, and isolated large hail.
The tornado watch area is approximately along and 65 statute miles east and west of a line from 30 miles west northwest of Richmond VA to 20 miles east southeast of Fayetteville NC. For a complete depiction of the watch see the associated watch outline update (WOUS64 KWNS WOU6).
PRECAUTIONARY/PREPAREDNESS ACTIONS…
REMEMBER…A Tornado Watch means conditions are favorable for tornadoes and severe thunderstorms in and close to the watch area. Persons in these areas should be on the lookout for threatening weather conditions and listen for later statements and possible warnings.
&&
AVIATION…Tornadoes and a few severe thunderstorms with hail surface and aloft to 1.5 inches. Extreme turbulence and surface wind gusts to 60 knots. A few cumulonimbi with maximum tops to 450. Mean storm motion vector 23035.
…Bunting
Note: The Aviation Watch (SAW) product is an approximation to the watch area. The actual watch is depicted by the shaded areas. SAW6 WW 56 TORNADO NC VA 162340Z – 170500Z AXIS..65 STATUTE MILES EAST AND WEST OF LINE.. 30WNW RIC/RICHMOND VA/ – 20ESE FAY/FAYETTEVILLE NC/ ..AVIATION COORDS.. 55NM E/W /26WNW RIC – 46NW ILM/ HAIL SURFACE AND ALOFT..1.5 INCHES. WIND GUSTS..60 KNOTS. MAX TOPS TO 450. MEAN STORM MOTION VECTOR 23035.
LAT…LON 37667662 34847741 34847969 37667901
THIS IS AN APPROXIMATION TO THE WATCH AREA. FOR A COMPLETE DEPICTION OF THE WATCH SEE WOUS64 KWNS FOR WOU6.
Watch 56 Status Report Message has not been issued yet.
Note: Click for Complete Product Text.Tornadoes
Probability of 2 or more tornadoes
Mod (40%)
Probability of 1 or more strong (EF2-EF5) tornadoes
Low (20%)
Wind
Probability of 10 or more severe wind events
Mod (40%)
Probability of 1 or more wind events > 65 knots
Low (20%)
Hail
Probability of 10 or more severe hail events
Low (20%)
Probability of 1 or more hailstones > 2 inches
Low (10%)
Combined Severe Hail/Wind
Probability of 6 or more combined severe hail/wind events
Mod (60%)
For each watch, probabilities for particular events inside the watch (listed above in each table) are determined by the issuing forecaster. The “Low” category contains probability values ranging from less than 2% to 20% (EF2-EF5 tornadoes), less than 5% to 20% (all other probabilities), “Moderate” from 30% to 60%, and “High” from 70% to greater than 95%. High values are bolded and lighter in color to provide awareness of an increased threat for a particular event.
A 41-year-old woman has been charged in relation to a fatal crash on Main Road, Glenorchy on 5 April 2024. Following extensive crash investigations, the woman has been charged with causing death by negligent driving and drive without due care and attention. She will appear in the Hobart Magistrates Court on 2 May 2025.
Financing the next generation of PHES projects11 min read
Interest in pumped hydro energy storage (PHES) continues to grow as the need for affordable, long-term, firm and weather-independent dispatchable electricity becomes increasingly critical to Australia’s energy transition. However, its high upfront capital costs and complex planning, procurement, and delivery processes, in contrast with its low operational expenses, is prompting debate over its viability as a mainstream asset class and optimal funding strategies.
PHES assets in Australia are predominantly government-owned, reflecting an era when electricity generation was seen as a public utility and a national asset. The privatisation of many segments within the energy sector raises questions about the future ownership and funding of large-scale PHES assets in today’s market-driven environment.
In this Insight, we explore the challenges and opportunities related to the financing of PHES projects in Australia and outline possible offtake structures to ensure a successful project.
Key takeaways
Government corporations have traditionally owned and procured PHES assets in Australia.
Significant capital costs, extensive civil engineering, underground works and long lead times have made private sector ownership and access to debt capital markets for PHES challenging.
Recent advancements seen in the BESS sector underpinned by the development of innovative funding and offtake structures present a potential pathway by which PHES could follow and become a mainstream asset class.
In NSW in particular, there is significant government support for PHES projects, with the LDS LTESA and the new Energy Security Corporation focusing on investing in long-duration storage, and in South Australia the proposed Firm Energy Reliability Mechanism.
Background
Australia has a PHES fleet of approximately 1.6 GW across the Wivenhoe, Tumut 3 and Shoalhaven power stations, with an additional 2.2 GWs of generation expected to come online with the completion of the Snowy 2.0 expansion project. There is also a significant pipeline of privately procured PHES projects in various stages of feasibility and planning.
The scale, capital intensity and inherent complexities of delivering a PHES project has meant that, to date, every project that has come to market in Australia has been funded using some form of government support. The most recent example is the Kidston PHES, which reached financial close in 2021. Whilst a privately owned asset, the project was funded with a combination of equity capital, a government grant and a concessional loan.
A question therefore arises as to whether PHES should continue to seen as public infrastructure necessitating government investment, or market evolution will result in future PHES being funded exclusively by the private sector.
Could a PHES be privately funded?
In our view, yes, though in the short term, the success of PHES will depend on a combination of both private and public sector investment. The private sector faces a unique set of challenges when it comes to the development and funding of PHES projects.
PHES projects have long lead times and are capital-intensive. Upfront development costs are very high, and the construction period typically ranges between three to four years. Up to 80% of asset-life costs can be on upfront capital expenditure, which typically runs into several billions of dollars. As a consequence, PHES is beyond the investment horizons of many private sector investors and the future success of the sector will be contingent on investors gaining access to debt capital markets.
While the recent $3.5 billion debt financing of Snowy 2.0 is an encouraging example of the willingness of mainstream financiers to lend to PHES, it is a government-procured project backed by an AAA-rated counterparty. Privately procured PHES projects with more limited funding sources will be subject to much more stringent credit requirements. Recent examples of cost and time delays on major PHES projects and the trend towards collaborative contracting and pricing models represent potential challenges from a bankability perspective.
Prospective financiers will focus heavily on the developer’s chosen procurement model to ensure that there is firm pricing and transferred risk to limit volatility and exposure. Where there are elements of flexibility or uncapped pricing (for example as seen with approaches to managing geotechnical risk on recent government projects), we are seeing developers seeking to forward-solve these issues by implementing robust risk mitigation measures, including, alternative contracting methods, highly structured delay and performance liquidated damages regimes and intricate risk allocation arrangements.
In addition to enhanced procurement regimes, prospective financiers to PHES projects have, through market soundings, also indicated that highly conversative modelling assumptions and tighter financing terms will be required. As seen with other nascent renewables assets classes during their ascendancy (such as wind, solar and now BESS), developers will likely be required to also build in large contingency packages, contingent undrawn lines, accept front-ended repayment profiles, more stringent cash sweep and upside sharing mechanisms and lower gearing levels.
Access to debt capital markets will also be contingent on investors demonstrating that PHES as an asset class is commercially viable in the context of private ownership. Traditionally, governments have adopted a model of utilising PHES projects as a form of system support (ie where there has been a shortfall of supply during periods of peak demand). In contrast, private sector investors will need to monetise projects and demonstrate positive price differentials between pumping and generation.
Owing to the capital cost of PHES, the initial wave of privately held projects will be financed utilising multi-source funding structures. At least initially, it is expected that multilateral agencies which are spearheading Australia’s push to net zero, such as ARENA, the CEFC and NAIF, will provide concessional/grant funding alongside mainstream commercial debt. The limited pool of civil contractors with PHES experience in Australia, combined with a lack of a domestic OEM market will likely result in developers satisfying key credibility requirements for international export credit agencies to also participate in the financing of Australian PHES projects.
Unlocking private funding for PHES projects
Despite the challenges in financing PHES assets, recent market developments and potential future changes could pave the way for greater private funding of PHES projects.
The sheer scale of PHES projects means there is a limited pool of available investment-grade offtakes, and as a consequence, many pipeline PHES developers are seeking to underpin project economics through government revenue underwriting schemes such as the Long-term Energy Support Agreements (LTESA) and Capacity Investment Scheme Agreements (CISA).
While initially met with scepticism, these agreements are starting to be viewed favourably by financiers, representing a fixed revenue line against which debt sizing can be made. This has been demonstrated by the successful project financings of the Orana BESS project in mid-2024 (the first standalone financing of an LTESA) and recently EnergyAustralia’s Wooreen BESS project (the first standalone financing of a CISA). Both projects also demonstrate the potential upside these products offer to developers, with the revenue underwrite providing scope to trade all or part of a project’s capacity in the merchant market.
A potential challenge however is whether or not the LTESA and CIS programs are in fact ‘fit-for-purpose’ in the context of PHES, owing to their capital intensity and the quantum that these government support agreements will have to underwrite over the long term. There is a view by some market participants that a more traditional model, whereby the government acquires an equity interest in projects, would be better suited to PHES and would go some way towards solving a number of the key bankability concerns pipeline developers are currently grappling with.
The NSW Government has sought to address this issue through the Long Duration Storage (LDS) LTESA, which provides a tailored agreement for LDS projects (including PHES) to account for the fundamental differences in their operational and market context.
Key features of the LDS LTESA that benefit PHES projects are:
an underwriting mechanism that grants the operator a series of two-year options to access a variable annuity payment in the form of a top-up to net operational revenue – rather than short-term swaps, which are granted under the generation LTESA;
a minimum availability threshold of 97% rather than a minimum generation guarantee; and
a contract term of up to 40 years for PHES projects, compared to 20 years for a generation LTESA and 10 years for firming LTESAs.
The ACEN Phoenix PHES project was recently awarded an LDS LTESA, marking the first time a PHES project has been awarded an LTESA. AEMO Services has indicated that the next LDS tender round will open in the second quarter of 2025 and is encouraging projects with short lead times to participate in order to meet the 2030 minimum objective. This directive does not rule out PHES projects, with many of the PHES currently under development in Australia having expected completion dates of 2030 or earlier. PHES projects with longer lead times are encouraged to participate in future LDS tenders to help meet the 2034 minimum objective.
While there is no active mechanism in any other jurisdiction, the South Australian Government has announced its proposed Firm Energy Reliability Mechanism (FERM), which is similar to the NSW LDS LTESA tenders and Federal Capacity Investment Scheme, providing a revenue underwrite for long-duration capacity projects. All existing and new generators in South Australia with long-duration firm capacity >30MW (excluding coal) and that can dispatch for a period of at least eight continuous hours must participate in the FERM process, but are not required to bid for financial contracts. The South Australian Government is considering responses to the FERM and is expected to release an update in 2025. With NSW as the frontrunner in supporting LDS projects and SA proposing some support, other jurisdictions may consider similar regimes based on their progress.
In June 2024, the NSW Energy Security Corporation (ESC) was established to accelerate the state’s renewable energy transition. In February 2025, the government announced the first Investment Mandate for the ESC. The Investment Mandate sets out how the ESC will invest in renewable energy projects where private sector investments alone are insufficient. The ESC has been allocated $1 billion and will co-invest with private investors on PHES, as well as large-scale batteries, community batteries and virtual power plants.
The Investment Mandate did not provide a breakdown of how the $1 billion would be allocated amongst these projects. However, with a clear mandate to invest in PHES projects, there is hope that the ESC may be able to help address some of the challenges faced by private investment as set out above.
PHES is often referred to as a ‘water battery’. It is therefore unsurprising that revenue models which have underpinned the recent meteoric rise of the BESS market are similarly being adopted by PHES developers who are currently in the planning phase.
In particular, the rise of virtual offtake arrangements (ie where the offtaker makes virtual nominations that are effectively separate from the physical operation of the asset). These structures (and the significant capacity size of PHES) allow a developer to retain day-to-day control over the underlying PHES asset, split capacity across multiple offtakers, provide potential for greater equity upside (although also give rise to greater risk on the downside), and importantly can be treated off-balance sheet from an accounting perspective.
We are anticipating a further evolution of the virtual offtake market, particularly if storage projects can secure an underlying LTESA or CISA, which can give them a base level of security to trade the remaining capacity. Revenue sharing, caps and firmed supply (or a mixture of a number of structures) could be possible, and we expect the PHES market to take inspiration from the BESS market.
Actions you can take now
If you are considering entering the PHES space and exploring funding options, it is important to:
engage with financiers (both private and government, and concessional providers) early;
engage external counsel early and seek guidance on key bankability issues throughout the planning and feasibility phases;
develop your revenue stack during the planning phase (in consultation with financiers) and take into consideration the quickly evolving offtake market in the BESS sector;
for those projects in NSW:
prepare for the next LDS LTESA round which is slated to be undertaken before the second half of this year;
engage with the ESC to explore how it will invest its $1 billion in the context of a PHES project; and
for those projects in South Australia, engage with the South Australian government and monitor for updates on the FERM process.
Released by: Minister for Regional Transport and Roads, Minister for Roads
Average speed cameras will be switched on to warning mode for light vehicles in two key regional locations from 1 May.
The trial, a recommendation from the 2024 NSW Road Safety Forum, will see the NSW Government flick the switch on cameras which measure a 15km stretch of the Pacific Highway between Kew and Lake Innes and cameras on the Hume Highway which measure a 16km stretch between Coolac and Gundagai to capture speeding light vehicles.
These two stretches have been chosen based on several factors, including known crash history. There were a combined total of six fatalities and 33 serious injuries between 2018 and 2022 at these locations.
In NSW average speed cameras only enforce speeding offences for heavy vehicles, however data shows that in the past five years (2018-2022) almost 80% of all fatalities and serious injuries across all existing 31 average speed camera lengths in NSW did not involve a heavy vehicle.
NSW is unique in that it’s the only place known to use these cameras for just a subset of vehicles. Most other Australian jurisdictions either use Average Speed Cameras for all vehicles or plan to do so in the future. Studies from around the world have shown that average speed enforcement for all vehicles leads to significant reductions in crash-related injuries and fatalities.
The trial will have a two-month warning letter period for light vehicle drivers caught speeding on both lengths of road before it is switched to full enforcement mode. From 1 July, those detected speeding will face fines and demerit point penalties. Existing enforcement of heavy vehicle offences at these sites will be unaffected by the trial.
A comprehensive communications campaign will begin to roll out before the warning letter period to help alert motorists to the trial.
Road signs will notify all drivers that their speed is being monitored by the cameras on the trial stretches, giving them the opportunity to adjust their speed as needed.
The average speed camera trial builds on other road safety initiatives introduced by the Minns Labor Government, including:
seatbelt enforcement by the existing mobile phone camera detection network
removing a loophole to force all motorists driving on a foreign licence to convert to a NSW licence within six months
the demerit return trial that rewarded more than 1 million drivers for maintaining a demerit-offence-free driving record during the second year of the trial
doubling roadside enforcement sites used for mobile speed cameras, with the addition of 2,700 new locations where a camera can be deployed. Enforcement hours will remain the same
hosting the state’s first Road Safety Forum with international and local experts
signed National Road Safety Data Agreement with the Commonwealth
Minister for Roads, John Graham said:
“We know that speed remains our biggest killer on the road, contributing to 41 per cent of all fatalities over the past decade.
“Studies from around the world show that using average speed enforcement cameras for all vehicles reduces the road toll, and road trauma.
“We know the trial will be a change for motorists in New South Wales, so it will be supported by community and stakeholder communications. All average speed camera locations have warning signs installed.
Minister for Regional Transport and Roads, Jenny Aitchison said:
“Regional NSW is home to a third of the population but is where two-thirds of all road deaths happen.
“With the majority of road trauma occurring in our regions we have chosen two regional locations to test the impact these cameras could have on road safety for all road users.
“I know this trial will be a change, particularly for regional people who travel through the areas where these two camera lengths are in place, which is why we are committed to ensuring that the community is aware of what we are doing.
“We will have a communications strategy in place including the use of print, radio and social media as well as variable messaging signs and mobile billboards to help communicate the trial details to drivers and riders.
“We will also have clear warning signs installed before the enforcement sites, but most importantly we will have a 60 day warning period in place so that people have an opportunity to adjust their driving behaviour before they receive a penalty.”
Background
Enforcement of average speed is generally considered a fair form of enforcement as drivers demonstrate intentional and consistent speeding behaviour over a long length of road and/or time, not only at a single point.
Research conducted in New South Wales in 2024 found that 68 per cent of respondents thought that average speed cameras were important in making New South Wales roads safer.
A 2015 study in Norway found that average speed cameras cut deaths and serious injuries by 49%. Similarly, a 2016 study in the United Kingdom showed a 36% reduction in fatal and serious injury crashes with the use of average speed cameras.
Average speed cameras in NSW have cut fatalities and serious injuries from crashes involving heavy vehicles. There was a reduction on fatalities and serious injuries from crashes involving heavy vehicles at average speed camera locations of about 50%, when data from the five years before they were installed is compared to the five years after installation.
The Road Transport Act 2013 (the Act) was amended in October 2024 so that average speed cameras can enforce speeding by all vehicle types.
The trial will run for 14 months in total. (2 months in warning mode, 12 months in enforcement)
Warning mode will begin on 1 May, enforcement mode will begin on 1 July.
The NSW Government will report back to Parliament on the outcomes of the trial in 2026, consistent with legislative changes made in late 2024.
A Sydney man has been hit with a $473,000 fine after being found guilty of more than 40 breaches involving unlicensed and uninsured residential building work for four consumers in 2022.
Anthony Abi-Merhi, a sole trader business operating under the name “Triscapes” quoted one consumer $99,500 for a job which ended up costing the consumer $142,000.
During the investigation, Building Commission NSW identified offences including unlicensed work, excessive deposits, and work undertaken without Home Building Compensation Fund insurance.
He was also found guilty of 27 charges of demanding or receiving payment for building without insurance, while carrying out landscaping work in south-western Sydney.
In NSW, a licence or certificate is required to do any residential building work, including general building work valued at more than $5,000 in labour and materials.
This includes construction, repairs, renovating or decorating a property.
For contracts valued at more than $5,000 the maximum deposit to cover labour and materials is 10 per cent.
Home Building Compensation Fund Insurance is required for projects valued at more than $20,000 and contractors must obtain this cover before starting any work or accepting any payments including deposits.
This insurance provides a safety net for consumers facing incomplete or defective work in certain circumstances.
The defendant has 28 days to exercise a right to appeal in respect of the sentence.
Quotes attributable to Minister for Building Anoulack Chanthivong:
“This serious $470,000 fine for unlicensed building work sends a clear message to builders – the Minns Government is serious about eradicating cowboys and shonks from the NSW home construction industry.
“Building Commission NSW inspectors are now out in force and will come down hard on those caught doing the wrong thing.
“Consumers should only engage a contractor once they have researched their credentials including by looking them up on the Verify Licence website, to make sure their licence is valid and whether the licence has any conditions or regulatory issues attached to it.
“You can also check user ratings online from other consumers who have used the trader, and make sure you use the handy Contract Checklist page on the Fair Trading website before signing a contract and paying any money.”
Released by: Minister for Police and Counter-terrorism
The NSW Government is today launching five new Tactical Armoured Vehicles, which will significantly strengthen the capability of the NSW Police Force (NSWPF) to respond to high-risk, tactical and counter-terrorism situations.
The armoured Lenco ‘Bearcat’ vehicles were custom designed and custom built for the specific needs of the NSWPF – at a total cost of $3.5 million.
All five Bearcats will be strategically positioned across NSW to support the work of Tactical Police and Police Negotiaters.
Key features include ballistically rated steel and glass with riot shield covers, rotating roof hatches, spotlights, external speakers, high-tech camera systems and advanced technical and communication capabilities.
In an Australian first, one of the new Bearcats is equipped with an extendable ramp to allow police to quickly and safely access multi-storey buildings and aircraft. This vehicle will be stationed in Sydney, the other four vehicles will be stationed in northern, western and southern regions – allowing the Tactical Operation Unit and Tactical Operations Regional Squads to quickly respond to high-risk situations.
The five new Bearcats bring the total number of specialised armoured vehicles in NSW to six and will further allow officers to swiftly and effectively respond to high-risk and counter-terrorism situations, ensuring the safety of the people of NSW.
Minister for Police and Counter-terrorism, Yasmin Catley said:
“These custom vehicles will greatly improve the capability of the Tactical Operations Unit to respond to and disrupt high-risk situations across the state.
“The NSW Police Force is world class so it’s only fitting it has modern resources and technology to fight crime and keep our community safe.
“Only a Labor Government backs our hardworking police 100% and ensures they have the capability they need.”
NSW Police Commissioner Karen Webb APM said:
“These vehicles are deployed by the Tactical Operation Unit during high-risk situations.
“This is about protecting our specialist officers.
“All of these vehicles are bullet and blast resistant and have the capacity to transport hostages or injured personnel.”
Today I am announcing changes to the Cabinet and the Ministry of the NSW Government.
The Hon John Graham MLC will remain the Special Minister of State, the Minister for the Arts, the Minister for Music and the Night-time Economy and will permanently take on the role of Minister for Transport
The Hon Jenny Aitchison MP will become the Minister for Roads and the Minister for Regional Transport. Regional roads will now be incorporated into the Roads portfolio. As a regional MP Jenny Aitchison is well placed to ensure the needs of regional and rural communities are met.
John Graham will continue to take carriage of the Government’s response to the toll review given the Government is mid-negotiation with toll companies about reforming the system.
The Hon Steve Kamper MP will be sworn in as the Minister for Jobs and Tourism, in addition to his responsibilities as the Minister for Lands and Property, the Minister for Multiculturalism and the Minister for Sport.
The Minns Labor Government is proud to welcome Janelle Saffin into the NSW Cabinet, to be sworn in as the Minister for Recovery, the Minister for Small Business, and the Minister for the North Coast.
Janelle is one of the most experienced MPs in the NSW Government. She has been instrumental in helping the Lismore community and surrounds recover from the 2022 floods as well as the recent impacts from Ex Tropical Cyclone Alfred.
She has intimate knowledge of the workings of the NSW Reconstruction Authority and will be a very strong advocate and voice for the North Coast as well as small businesses across the state.
Emily Suvaal will also be appointed as the Parliamentary Secretary for Trade and Small Business.
Parliamentary Secretaries perform an important role in supporting Ministers and driving action to deliver on government priorities in Parliament and Emily is an excellent addition to the team.
These are important changes to the NSW Ministry that will ensure we continue to invest in essential services that people rely on, and build a better NSW.
The Albanese Labor Government is rolling out larger grants for Australian exporters to help them take on the world through the Export Market Development Grants (EMDG) program.
Since the most recent grant round opened in November 2024, the government has delivered over $74 million in grant agreements to over 700 Australian exporters.
The average value of grant agreements executed in the most recent round has risen to $53,000. This is more than double the average grant amount for businesses than was provided under the former coalition government.
When we came to government, it was clear that the declining size of grants significantly reduced the value of the program for our exporters. We have worked to improve the program, so that exporters have greater support and the program is more effective.
Since its inception in 1974, the EMDG program has supported more than 51,000 Australian businesses to market their products and services in over 180 countries. It is administered by the Australian Trade and Investment Commission.
The government is committed to continuously improve businesses’ experience in applying for EMDG, and has appointed Mr Timothy Yeend to conduct the next independent review in accordance with section 106A of the Export Market Development Grants Act1997.
Mr Yeend is trade expert with over 30 years’ experience working on trade and international business issues. He is a current board member of Tourism Australia and former Associate Secretary at the Department of Foreign Affairs and Trade. His knowledge of trade and what support export businesses need to compete on the global stage, coupled with his experience in government, will provide a solid foundation for this legislative review.
Consultations will commence in May 2025, with the final report to be provided to government by November 2025, in accordance with legislative timeframes.
Foreign investment is essential to Australia’s prosperity. It helps to build our economy and enhance the wellbeing of Australians by supporting financial growth.
The role of the Commissioner of Taxation as Registrar
The Commissioner of Taxation is the Registrar responsible for administering the Register, under the Commonwealth Registers (Appointment of Registers) Instrument 2021.
The Commissioner was appointed as the Registrar of the Register by the Assistant Treasurer, commencing 29 November 2022.
The Registrar’s role in administering the Register includes:
maintaining accurate records of interests and changes that need to be registered for the purposes of administration of the foreign investment laws, such as case management and compliance
accurate reporting to government of foreign ownership in Australia.
The visibility of interests held by foreign persons in specified assets in Australia will also inform future policy development by government.
How the information on the Register is used
The Registrar will take steps to protect personal information they hold about individuals against loss, unauthorised access, use, modification or disclosure and other misuse.
Information on the Register can be used, recorded or disclosed for any purpose that protected information can be used under Division 3 of Part 7 of the FATA. Secrecy provisions apply to the information disclosed or obtained under or for the purposes of the FATA.
It is an offence under section 128 of the FATA for a person to disclose protected information. That is unless the disclosure is permitted either under section 130V of the FATA or under one of the exceptions in Division 3 of Part 7 to the FATA.
There are safeguards to protect an individual’s right to privacy and this applies to the information collected by the Registrar. In particular, the Registrar complies with obligations under the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 and records authorities issued by the National Archives of Australia.
You must also register a legal interest as lessee in a lease giving rights to occupy commercial land if the term of the lease (including any extension or renewal) is reasonably likely to exceed 5 years, at the time the interest is acquired.
Registration is required regardless of the value.
Who must register
If you are a foreign person and have invested in Australian commercial land from 1 July 2023, you or your authorised representative must register the asset, unless an exemption applies. Generally, the person with the direct legal interest is required to register the commercial land with us, the Australian Taxation Office.
Joint tenants
If you have direct legal interest and own property jointly with one or more foreign investors, one owner must register the asset first. Other foreign owners in the joint tenant ownership will then add themselves to the registered asset.
You need to decide which owner will register the property. Once registered, that owner will need to give the other joint tenants the Asset ID. They will then add themselves to the asset.
Once all foreign owners are added, any owner can access and update the registered asset details.
Tenants in common
If the asset is owned with others and assigned specific ownership, each individual foreign person must register the asset with their percentage of ownership.
When to register
A foreign person or their authorised representative must register any interest, other than an equitable interest acquired in commercial land that occurred on or after 1 July 2023, within 30 days of either:
purchasing commercial land (settlement)
becoming a foreign person while holding an interest in commercial land
becoming aware they have an interest in commercial land, which has changed in nature from another type of Australian land.
other Australian land that you hold becomes commercial land
the land ceases to be commercial while you are holding it
you become a foreign person while holding commercial land
details of the registration change, such as partial divestment, title, or use of land.
If your:
Penalties and reporting breaches
If you do not comply with your obligations to give a register notice or keep your details up to date, you may face an infringement notice or civil penalties.
If you have information about someone you think may be deliberately breaking our foreign investment rules, you can confidentially report a breach to us.
If you are having difficulties meeting your obligations, contact us.
Statistics and reporting
The Registrar provides a report to the Treasurer about the operation of the Register. They publish aggregate statistics of foreign ownership.
The reported statistics may include:
number of acquisitions and divestments
value of foreign held commercial land
land use of foreign held commercial land
value of foreign held commercial and by country of ownership.
Only aggregated statistics are included in the report. Privacy restrictions prevent publishing information which may identify an individual or entity.
All new Child Care Subsidy (CCS) provider approval applicants will need to supply a statement of tax record (STR) to the Australian Government Department of EducationExternal Link. Some existing providers may also be asked to provide an STR. The Department of Education will notify those existing providers who will require an STR.
The STR demonstrates your satisfactory engagement with the tax system and is required when applying to administer CCS.
To apply for an STR, use our online services. After you submit your application, you’ll get a receipt and your STR within 4 business days.
Important tips:
Check your registration: Make sure you have an Australian business number (ABN), tax file number (TFN) and goods and service tax (GST) registration if your income is above the relevant limits.
Review your tax lodgements: Ensure you’ve submitted at least 90% of your income tax returns, business activity statements (BAS), and fringe benefits tax (FBT) due in the past 4 years (or since your tax record started, if less than 4 years).
Address outstanding debts: If you owe $10,000 or more (not including disputed debts), either pay them off or set up a payment plan.
Taking these steps will help you resolve any tax issues with us before applying for your STR.
Keep up to date
We have tailored communication channels for medium, large and multinational businesses, to keep you up to date with updates and changes you need to know.
email notifications about new and updated information on our website – you can choose to receive updates relevant to your situation. Choose the ‘Business and organisations’ category to ensure your subscription includes notifications for more Business bulletins newsroom articles like this one.
