Energy Market Reform

LATEST AUSTRALIAN BUSINESS NEWS

Energy market reform and the development of best practice market arrangements will play a key role in the global effort to address climate change according to Australia’s Federal Industry Minister.

Addressing the first steering committee meeting of the Energy Regulation and Market Development Forum, an initiative of the Asia Pacific Partnership on Clean Development and Climate (APP), Macfarlane said it was crucial that countries had access to clean and affordable energy sources which could power economic growth without adverse effects on the environment.

The Forum is a unique opportunity for the six APP partner countries to pool energy market expertise and improve the efficiency and environmental performance of energy generation, transmission, distribution and end use in their economies.

These improvements will make a major contribution to the global effort to address climate change because together, APP countries represent more than half of global economic activity.

The Forum of senior energy market policy makers, regulators, producers and distributors takes place over two days on the Gold Coast with delegates from each of the six APP countries – China, India, Korea, Japan, the US and Australia.

It is one of more than 100 collaborative projects in emerging clean technologies, capacity building and research that the APP has undertaken since it was established in January 2006.

Australia's reform of its domestic energy market in the past decade had delivered benefits, adding $1.5 billion a year to the economy.

For information on this article, or on any other aspect of the Australian economy or business opportunities available, please email me.

David

david.taylor@agarcarlyon.com

Australian Defence to Support NASA Dawn Space Project

LATEST AUSTRALIAN BUSINESS NEWS

A team of four personnel from the United States Air Force will visit Tennant Creek in the Northern Territory of Australia to monitor the launch of the National Aeronautical and Space Administration’s (NASA) Dawn spacecraft.

The US team will arrive at Alice Springs and travel to Tennant Creek where they will establish a small temporary ground station. Tennant Creek was selected as it affords the best view of the crucial booster separation phase of the launch.

As part of the same mission a United States Air Force NKC-135 aircraft will be operating out of Perth International Airport from mid September and flying over north-west Australia. The launch from Cape Canaveral is planned for between 19 September and 15 October depending on weather and atmospheric conditions. The Australian Defence Force will be providing local liaison support and assisting NASA with its organisational arrangements while the team is in Australia supporting the Dawn spacecraft launch.

This mission will attempt to answer questions about the formation of our Solar System. Data returned from the Dawn spacecraft could provide opportunities for significant breakthroughs in our knowledge of how the solar system formed.

Over the last decade Defence has supported five similar NASA missions as part of Australia’s ongoing cooperation with NASA.

For information on this article, or on any other aspect of the Australian economy or business opportunities available, please email me.

David

david.taylor@agarcarlyon.com

Small Business R & D Spending Increases

LATEST AUSTRALIAN BUSINESS NEWS

Research and development by Australian small businesses has risen by 17 per cent to reach $1.3 billion, according to the Australian Bureau of Statistics (ABS).

The ABS reports R&D expenditure in small businesses reached $1,316 million in 2005-06, a solid improvement on the 2004-05 figures of $1,130 million.

Importantly R&D expenditure by micro-businesses (less than five employees) increased by 18 per cent to reach $354 million. Small business is spending more on R&D, developing new goods and opening up new markets.

In a global economy, small business has to be innovative to compete. The good news is Australian small business is taking on the best in the world and winning.

Australian R&D Tax Concessions offer:

• a tax deduction of up to 125 per cent of expenditure incurred on R&D activities;

• an R&D Incremental (175 per cent Premium) Tax Concession for certain companies that increase their grouped R&D expenditure; and

• an R&D Tax Offset for companies with group turnover under $5 million and a group R&D expenditure of up to $1 million for the year.

For information on this article, or on any other aspect of the Australian economy or business opportunities available, please email me.

David

david.taylor@agarcarlyon.com

US Bank Moves Into Australia

LATEST AUSTRALIAN BUSINESS NEWS

US investment bank Lazard has followed in the footsteps of the Lehman Brothers purchasing an established Australian investment bank in order to gain greater access to the Asia-Pacific region.

Lazard has purchased Carnegie Wylie for an undisclosed combination of cash and stock with the acquisition being effective immediately.

Lazard President, Mr Charles G. Ward III, said that the acquisition of Carnegie Wylie was another important step in the bank’s five-year strategy to expand its financial advisory business by geographies, and reinforce its commitment to provide premium service to clients.

The acquisition will allow Lazard to bring Australia’s top banking talent into the Lazard fold, to build on its existing Australian business faster, inherit an established presence and premier brand in Melbourne, Sydney and Brisbane, and strengthen its access in the important Asia Pacific region.

Lazard's existing Sydney-based financial advisory team will join Carnegie Wylie. The combined group will be lead by co-founder and principal of Carnegie Wylie, Mr John Wylie.

Carnegie Wylie co-founder and principal, Mr Mark Carnegie has been appointed CEO of Lazard’s Australian private equity business and Lazard's Australian asset management business will be managed separately.

For information on this article, or on any other aspect of the Australian economy or business opportunities available, please email me.

David

david.taylor@agarcarlyon.com