Here is a look at what is making news around the country today.
Today’s national news includes Australians waiting for the RBA decision on the interest rate, Australia and Indonesia teaming up for battery supply chains, PM Albanese launching a $2 billion fund to boost trade with Asia, and Western Sydney International Airport operating a digitised aerodrome.
Politics
$2bn fund launched to ‘turbocharge’ trade with Southeast Asia
Australia will set up a $2 billion fund to “turbocharge” trade and investment in Southeast Asia, with a focus on clean energy and infrastructure, The Guardian has reported. The $2bn Southeast Asia investment financing facility is to be managed by Export Finance Australia. It is expected to provide loans, guarantees, equity and insurance to increase Australian trade and investment in Southeast Asia.
Economy
Aussies wait for RBA decision on interest rate
The Reserve Bank of Australia has historically delivered news about interest rates on the first Tuesday of each month (except January). Still, central bankers will meet just eight times this year, meaning the next meeting is on March 18, InDaily reports. The move is part of a strategy to improve the quality of interest rate decisions that emerged from an independent review of the RBA last year, with each meeting lasting longer. Most economists think interest rates have peaked, with several economic readings in 2024 showing inflation easing faster than anticipated and the unemployment rate rising.
Regions
Digital air traffic control launches in Sydney
Mirage News has reported that Western Sydney will be Australia’s first airport without a traditional air traffic control tower as Airservices Australia modernises its air traffic management capabilities with safe and efficient digital technology. Western Sydney International (Nancy-Bird Walton) Airport (WSI) will operate as a digitised aerodrome, with more than 20 high-resolution cameras monitoring the airport and immediate airspace and beaming real-time vision to a centralised control room.
https://www.miragenews.com/australias-first-digital-air-traffic-control-1187155/
Business
Australia and Indonesia ought to team up for battery supply chains
BusinessWorld reported that Philippine energy firm ACEN said Australia and central nickel suppliers Indonesia and the Philippines could team up to develop regional battery storage systems. “It is worth noting that there is concentration of risk for lithium battery production, with over 70 per cent being produced in China alone,” ACEN CEO Eric Francia said. “With Australia being the top lithium producer globally, and Indonesia and the Philippines being the top nickel producers, there are potential opportunities to establish a regional supply chain and cater to the significant demand for battery storage within our region.”
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