GOVERNMENT'S NEW BUY QUEENSLAND INITIATIVE AN AUSTRALIAN FIRST

GOVERNMENT'S NEW BUY QUEENSLAND INITIATIVE AN AUSTRALIAN FIRST

THE QUEENSLAND Government has announced its latest plan to support Queensland-based businesses through the new 'Buy Queensland' initiative. The new plan, which will prioritise Queensland goods and services, will apply across all agencies, statutory bodies, and government owned corporations. The Queensland cabinet has agreed, i...

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MEGAPORT SHARES RISE FOLLOWING STRONG QUARTERLY RESULTS

MEGAPORT SHARES RISE FOLLOWING STRONG QUARTERLY RESULTS

MEGAPORT Limited (ASX: MP1) has seen its share price rise by almost two per cent following the announcement of strong results for the June 2017 quarter. The group, who delivers internet connectivity solutions to businesses, saw their revenue for the June quarter increase by 18 per cent compared to the previous quarter to $3.47 million. ...

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NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

DATA centre operator NEXTDC (ASX: NXT) has started a bidding war with 360 Capital Group to take over Asia Pacific Data Centre (ASX: AJD) after it launched a fully funded $1.85 a share cash offer for the company. The takeover bid trumps the offer made by 360 Capital to acquire all the securities in APDC for $1.80 per share. NEXTDC CEO ...

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SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

TO RETAIN the best and brightest employees it sometimes seems like a good idea to offer more money, but recent research suggests that cash doesn't always talk. A study, commissioned by specialised recruiter Robert Half surveying 160 chief financial officers in Australia, shows more than 94 per cent of Australian CFOs have extended cou...

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WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

Westpac Group (ASX: WBC) has entered discussions with property investment group Charter Hall (ASX: CHC) to sell Hastings Management, a global infrastructure-assets business with funds under management of about $14.3 billion. Charter Hall is considering the purchase of Hastings following the completion of due diligence and regulatory ...

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ACCC TO SMALL BUSINESSES: REVIEW PAYMENT SURCHARGES NOW

ACCC TO SMALL BUSINESSES: REVIEW PAYMENT SURCHARGES NOW

SMALL business owners have been urged to review their payment surcharges ahead of the ban on excessive payment surcharges in force 1st September. The ACCC recommends small businesses assess their current surcharge models before the law comes into force, which limits the amount a business can charge customers for use of EFTPOS, MasterCard,...

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CONTROVERSIAL BANK LEVY SHOULD BE APPLIED TO OTHER BIG BUSINESSES, BOURIS SAYS

CONTROVERSIAL BANK LEVY SHOULD BE APPLIED TO OTHER BIG BUSINESSES, BOURIS SAYS

THE BANK LEVY imposed on the so-called 'Big Five' should be extended to include all government-licenced companies with a turnover of $1 billion or more, according to Yellow Brick Road executive chairman Mark Bouris.

Speaking at the launch of 2017 Gold Coast Queensland Small Business Week, Bouris also says the money raised should be us...

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BIS SAYS INFRASTRUCTURE BUDGET BOOST IS WELCOME, BUT LIKELY UNSUSTAINABLE

BIS SAYS INFRASTRUCTURE BUDGET BOOST IS WELCOME, BUT LIKELY UNSUSTAINABLE

ANALYSTS say that the public infrastructure and construction industry has emerged among the clear winners from last Tuesday's budget, as BIS Oxford Economics forecasts imminent major growth across the sector. Funds allocated from the 2017 Federal Budget will help drive an estimated 30 per cent growth for the industry, which is already...

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BANK LEVY ON BIG FOUR COULD DRIVE CUSTOMERS TO REGIONAL BANKS

BANK LEVY ON BIG FOUR COULD DRIVE CUSTOMERS TO REGIONAL BANKS

THE BANK of Queensland (ASX: BOQ) is expected to be a major beneficiary of the Federal Government's bank levy which was introduced in Tuesday's Budget. The Government levy will raise $1.5 billion a year over the next four years, or around five per cent of the profits from the so-called 'Big Four' which includes Commonwealt...

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SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

INSURER Suncorp (ASX: SUN) says it is "well protected" against the financial impact of Cyclone Debbie thanks to its main catastrophe program and the purchase of an additional cover.

As the category three cyclone intensifies and heads towards the north Queensland coast between Townsville and Mackay causing forced evacuations, th...

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SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from the venture capital fund it has set up in partnership with Artesian Venture Partners and industry superannuation fund Hostplus.

This follows the SproutX pre-accelerator program, held in late 2016, where 110 startups and entr...

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WHY NEXTDC'S STOCK IS SOARING

WHY NEXTDC'S STOCK IS SOARING

AFTER posting its interim result, NEXTDC (ASX: NXT) gained more than 12 per cent on the stock market before noon.

The Brisbane data centre company reported a revenue rise of 39 per cent to a company record of $58.7 million.

NEXTDC took in earnings before interest, taxes, depreciation and amortisation (EBITDA) of $23.9 million for th...

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EML'S EARNINGS SOAR

EML'S EARNINGS SOAR

EML Payments' (ASX: EML) earnings have soared 226 per cent for first half 2017.

The Brisbane payments provider took in $9.96 million in earnings before interest, taxes, depreciation and amortisation.  Depreciation in the Sterling relative to the Australian Dollar in fact lowered this result by $1 million.

EML generated 85 p...

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ARMINIUS MAKES ITS MOVE TO RETAIL INVESTORS

ARMINIUS MAKES ITS MOVE TO RETAIL INVESTORS

WITH a view to tapping the $600 billion self-managed superannuation fund (SMSF) market, Brisbane-based Arminius Capital has launched flagship funds for retail investors. Arminius Managing Director Marcel von Pfyffer announced the launch of the Global Macro Multi Asset (GMMA) and Executive Money Market Account (EMMA) funds, which the compa...

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CHINESE BANK OPENS TRADE OPPORTUNITIES WITH BRISBANE BRANCH

CHINESE BANK OPENS TRADE OPPORTUNITIES WITH BRISBANE BRANCH

INDUSTRIAL and Commercial Bank of China (ICBC) has opened its second Australian branch in Brisbane to support international trade. ICBC already operates an international branch in Sydney, while building on the financial institution's representative office in Brisbane. Acting Premier and Treasurer Curtis Pitt says the move demonstr...

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TOURISTS CASHED UP AND HEADING FOR AUSTRALIA

TOURISTS CASHED UP AND HEADING FOR AUSTRALIA

INTERNATIONAL tourists flocked to Australia in FY16 with the tourism industry growing three times faster than the broader economy. Figures from Tourism Research Australia show there was a record 7.2 million international visitors in the 12 months to June 30, up 10 per cent on the previous year. The level of spending grew at a faster r...

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BRISBANE BRIDGES ASIA WITH SRI LANKA

BRISBANE BRIDGES ASIA WITH SRI LANKA

THREE Brisbane companies just invested more than $150,000 dollars in Sri Lanka. In a business 'matchmaking' event, more than 25 Sri Lankan tech businesses pitched Australian delegates for investment at a business event held by the Sri Lanka and Australia Chamber of Commerce (SLACC) earlier this year. SLACC President Kalum De S...

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CEO RESIGNS AS CARDNO POSTS LOSS

CEO RESIGNS AS CARDNO POSTS LOSS

CARDNO (ASX: CDD) is still in the red this year, with the company posting a $176 million net loss earlier today. While this current figure improves on last year's $245 million full year loss, it once again reflects heavy industry pressure and poor performance across numerous markets, particularly the American resource sectors. The...

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SILVER CHEF SERVES UP STRONG PERFORMANCE

SILVER CHEF SERVES UP STRONG PERFORMANCE

SILVER Chef (ASX: SIV) dished out a net profit after tax of $22.4 million for the financial year, delivering a new CEO with the news.  The result includes a one-off after tax break cost of $1 million arising from the early redemption of $30 million of loan notes on 14 September 2015. The Brisbane-based equipment funding company d...

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MARKET CONDITIONS FLICK THE SWITCH ON ERM

MARKET CONDITIONS FLICK THE SWITCH ON ERM

LIGHTS are dim for ERM Power (ASX: EPW) today as the electricity provider posted a $30 million drop in profit, with its overall FY16 performance plugged to industry volatility. Despite a revenue increase of 19 per cent to $2.7 billion overall, the Brisbane company saw a sharp 46 per cent fall in statutory net profit from $65.9 million in ...

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WATPAC CLINGS TO CONSTRUCTION AS PROFIT SUFFERS

WATPAC CLINGS TO CONSTRUCTION AS PROFIT SUFFERS

SPENDING 12 months riding a down-turning industry, Watpac Limited (ASX: WTP) has emerged a little bruised, yet not completely out for the count, following its full year result. Posting a statutory loss after tax this morning of $21.4 million, down from an $11.5 million loss in FY15, the Brisbane giant admits its result was once again affe...

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EWM GROUP SIMPLIFIES PHILANTHROPY

EWM GROUP SIMPLIFIES PHILANTHROPY

BRISBANE family office EWM Group has made it easier for clients to give back with the launch of a specialist philanthropy offering. GivingSimple offers advice on how individuals, families and businesses can support communities, charities and causes of their choice without having to establish their own philanthropy structure. Donors ca...

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CHEAPER FARES IN QLD PUBLIC TRANSPORT CRACKDOWN

CHEAPER FARES IN QLD PUBLIC TRANSPORT CRACKDOWN

COMMUTERS are set to benefit from cheaper fares following a major overhaul in south-east Queensland's public transport system. Under the Palaszczuk Government's Fairer Fares package, single zone travel during peak time will be reduced from $3.35 to $3.20 from next year. Customers will be able to travel further within a zone, w...

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STORM DAMAGE CLAIMS HIT $38M

STORM DAMAGE CLAIMS HIT $38M

THE severe storms that pummelled the east coast over the weekend have been declared an insurance catastrophe with claims tipping $38 million. The Insurance Council of Australia (ICA) has recorded more than 11,150 claims from across the east coast of Queensland and NSW over damage related to heavy rainfall. ICA acting CEO Karl Sullivan...

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QPCU SET TO BECOME QUEENSLAND'S NEWEST BANK

QPCU SET TO BECOME QUEENSLAND'S NEWEST BANK

QUEENSLAND Police Credit Union (QPCU) will rebrand as QBANK to reflect its broadening membership base. The move will see the community services financial institution become Queensland's newest bank on July 1, subject to final approval from the Australian Prudential Regulation Authority (APRA). QPCU CEO Grant Devine says the name c...

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BUDGET 2016: WHAT IT MEANS FOR BUSINESS

BUDGET 2016: WHAT IT MEANS FOR BUSINESS

BUSINESS is at the forefront of the 2016 federal budget, with SMEs set to see their company tax rate fall to 27.5 per cent from July 1 this year. Treasurer Scott Morrison announced the company tax break in his first budget overnight, a further 1 percentage point reduction for small businesses with annual turnover less than $2 million. ...

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EMPLOYERS URGED TO CHECK EASTER PAY RATES

EMPLOYERS URGED TO CHECK EASTER PAY RATES

EMPLOYERS are being urged to check the pay rates and entitlements that apply to their business over Easter, to avoid having egg on their face with Fair Work. Fair Work Ombudsman Natalie James says most underpayments are inadvertent and the result of employers failing to check their minimum obligations under workplace laws. "Wheth...

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ASSET 'MINER' DIGGING FOR THE NEXT BIG THING

ASSET 'MINER' DIGGING FOR THE NEXT BIG THING

THE Gold Coast investment firm that helped Brisbane-based veterinary company Greencross (ASX:GXL) float on the stock exchange is exploring opportunities as diverse as lithium, coffee and agriculture to uncover the next big deal. Strategic Equity Alliance, headed by Glenn Gaudet and Justin Broad, has appointed youthful mining industry vete...

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QUEENSLAND NEEDS TO SNAP OUT OF IT: DELOITTE

QUEENSLAND NEEDS TO SNAP OUT OF IT: DELOITTE

QUEENSLAND has been urged to snap out of the slump mentality and capitalise on the investment legacy created by the now defunct resources boom. Deloitte Access Economics' latest Queensland Business Outlook report says instead of looking at the boom as if it is a hole that needs to be filled, the state should be focusing on its traditi...

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TOURISM BOOM: WE AIN'T SEEN NOTHING YET

TOURISM BOOM: WE AIN'T SEEN NOTHING YET

FEARS of faltering Chinese growth and a global downturn have been downplayed by one economic forecaster who is predicting we are on the verge of a new economic boom, and one that's likely to last for some time. Dr Frank Gelber (pictured), chief economist with BIS Shrapnel, told a Brisbane briefing this week that the next growth story ...

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