Here is a look at what is making news around the country today.
Today’s national news includes Vietnam and Australia promoting trade and tourism, New vehicle pollution rules seen to boost electric vehicle sales in Australia, economists see recession easing to 35 per cent due to policy pause, and Indian iron ore miner NMDC Ltd is exploring lithium reserves off Perth.
Nation
New vehicle pollution rules to boost EV uptake
Australia will introduce new standards targeting vehicle emissions to boost the uptake of electric cars, as it looks to catch up with other developed economies, Business World has reported. Just 3.8% of cars sold in Australia last year were electric, well behind other developed economies such as Britain and Europe, where electric cars made up 15% and 17% of sales, respectively. Details would be finalized in the coming months.
Economy
Recession could ease to 35 per cent amidst policy pause
Australia’s chances of sliding into a recession have declined, according to a Bloomberg survey, as the Reserve Bank’s decision to pause an 11-month tightening cycle helps improve the economic outlook. The median estimate for a slump is 35 per cent, down from 40 per cent last month, the poll of 17 economists released Wednesday showed. Among respondents, AMP Capital Markets and Commonwealth Bank of Australia predicted a 35 per cent chance. A recession is defined locally as two consecutive quarters of declining gross domestic product.
Business
NMDC explores lithium reserves
Indian iron ore miner NMDC Ltd said it is exploring lithium reserves 124.3 miles (about 200 km) off Perth, Australia, Reuters reported. “We are in the process of exploring in Australia but we can’t give a timeline when we would be able to start the mining,” D K Mohanty, director of production at NMDC, told reporters on the sidelines of an industry conference.
https://www.reuters.com/world/india/indias-nmdc-exploring-lithium-reserves-australia-2023-04-19/
Tourism
Vietnam and Australia promote trade, tourism
A Vietnam-Australia trade and tourism promotion conference was held by Vietnam Airlines, Thien Minh Group and Vinpearl JSC in Sydney on April 19, drawing a large number of Australian businesses and travel firms from different Australian localities. Vietnam Plus has reported. Statistics from the General Statistics Office of Vietnam showed that Vietnam welcomed 3.66 million foreign visitors in 2022 and 3 million in the first quarter of this year, of whom 85 per cent arrived by air. According to the Australian Bureau of Statistics (ABS), Vietnam is among the top 10 favourite destinations for Australian tourists. Many Australian travel firms said that Australian tourists are increasingly interested in Vietnam and tend to choose the Southeast Asian country for their future vacations.
https://en.vietnamplus.vn/vietnam-australia-promote-trade-tourism-exchange/251797.vnp
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