Ergon trials energy plan
CHINA’S investment in Australian agribusiness has tripled in just a year as the Asian nation strives to meet rising demand for high- quality food among its growing middle class.
In 2016, Chinese companies invested $ 1.2 billion in Australian agribusiness – three times 2015’ s investment of $ 375 million – a report from financial services provider KPMG and the University of Sydney revealed.
The report, Demystifying Chinese Investment in Australia, said the investment was concentrated in the dairy, meat, seafood and wine sectors.
KPMG Australia’s head of Asia and International Markets, Doug Ferguson, said the increase also reflected the greater competitiveness of Australian produce in China following the China- Australia Free Trade Agreement. PETROL retailer Caltex Australia is setting up a $ 20 million assistance fund for franchisee employees who have not been paid their full entitlements by Caltex franchisees.
It will allow franchisee employees to claim underpayments for the period from 2015 onwards and has invited former employees to come forward if they believe they may have been underpaid.
The fuel seller said it had initiated workplace audits that had found underpayments by some franchisees to workers.
“While Caltex has no liability to pay franchisee employment entitlements, the fund has been established because Caltex wants to do the right thing by franchisee employees,” the company said in a statement.