According to The Australian Financial Review, Indian giant Reliance Industries is considering a plan to build a green hydrogen manufacturing plant in Australia, a project that could crystallise deeper economic ties between the two countries.
The plan would take the Indian conglomerate’s multibillion-dollar push into renewable power and fuel offshore, using its growing expertise in solar panel manufacturing to establish a solar farm in Australia to produce carbon-free hydrogen for export.
According to The Australian Financial Review, Sydney developer Astute Property has capitalised on strong momentum in the build-to-rent sector to sell an entire apartment development in Marrickville off-the-plan to a private investor.
The sale came just ahead of the official launch of the 43-unit development on a 1500sq m site at 265-273 Illawarra Road in the inner west suburb, which Astute purchased from the Hatziplis family for $16.7 million last year.
While the price paid by the portfolio investor was not disclosed, it is understood a deal was negotiated below the $60 million end value of the project.
According to The Asahi Shimbun, entry restrictions on foreign tourists were further relaxed on Sept. 7 in Japan, but a sudden surge in such visitors is not expected because some unpopular border rules still apply.
The government now allows small groups of tourists to arrive in Japan without a guide, but individuals must arrange their visits through a travel agency.
Moreover, all tourists still must obtain visas before entering Japan.
Restrictions abroad have also reduced the number of tourists to Japan.
According to The Asahi Shimbun, they may move at a crawl, but electric golf buggies could prove to be the answer to transportation issues that increasingly plague depopulated areas with elderly residents and elsewhere.
Aside from the obvious benefit of making life easier, Yamaha Motor Co., which is pitching the idea, says tourists also would be able to make use of the low-speed vehicles, which are eco-friendly and provide an easy-to-access transit system.
Working with the Japan Automobile Federation (JAF), which operates roadside assistance hubs nationwide, Yamaha Motor anticipates a sharp increase in sales if its proposal is accepted.
According to The Australian Financial Review, a flying vehicle start-up run by a husband and wife team has scored $23 million in funding from some of the country’s most established investors.
The company has designed an electric vertical take-off and landing (eVTOL) aircraft, capable of reaching speeds of up to 300 kilometres per hour.
The helicopter-esque electric aircraft called Vertiia, which can travel up to 250 kilometres using battery power, is also equipped to use hydrogen as a fuel source, giving the aircraft the potential to exceed 1000 kilometres of flying at a cost per passenger equivalent to a ride-sharing service.
According to The Australian Financial Review, Australian trade minister Don Farrell says there are opportunities to work more closely with Japan on providing clean energy to the country’s major trading partner.
“There are opportunities not just for Australia as Japan’s number one energy supplier, but also for Japan and Australia to co-operate to support energy transition across the region,” Mr Farrell told The Australian Financial Review.
Australia is increasingly focused on Japan as an alternative export market to China, which has slapped tariffs and restrictions on $20 billion worth of wine, coal, beef, barley and other products.
According to The Australian Financial Review, the rapid drop in house prices has slashed around five months off the time needed to save a deposit across Sydney and six months in Melbourne, as early signs of improving affordability emerge, the ANZ housing affordability report shows.
While the time saving is a small improvement relative to the 17.1 years still needed to save a deposit in Sydney and 13.6 years in Melbourne, the deposit hurdle is likely to fall further as prices continue to drop and wages start to rise.
According to The Australian Financial Review, the West Australian government is set to accommodate any move led by Andrew Forrest to build a port near Esperance on the state’s south coast and is confident a flood of other multi-billion dollar green hydrogen investments will finally lead to a new port at Oakajee on the mid-west coast.
The government is on the verge of allocating 700 hectares of land at Oakajee, once touted as home to a $9 million deep water iron ore port, to backers of green hydrogen production.
WA hydrogen industry minister Alannah MacTiernan left for South Korea on Wednesday to continue talks with big investors who are eyeing projects around Oakajee and other coastal sites.
She said the talks so far had involved the likes of steelmaker POSCO, LG Group, Samsung and KOGAS.
According to The Australian Financial Review, companies in Japan are racing to capitalize on a boom in frozen food products as the novel coronavirus pandemic has boosted demand for food with a long shelf life.
The Japan Frozen Food Association has been keeping records on domestic frozen food production and consumption since 1981. It found the production value of consumer items rose by 5.2 percent year on year to 391.9 billion yen (US$2.83 billion) in 2021, hitting a record high for the second straight year.
“The pandemic-induced boom (in frozen foods) will likely subside (following price hikes), but many consumers will continue to buy them because they taste good,” said an association official.
According to The Australian Financial Review, new data shows exploration spending and capital raisings in the resources sector have bounced back to record levels in defiance of negative sentiment around cost inflation, commodity price volatility and the labour market.
ASX-listed exploration companies spent more than $1 billion in their hunt for new mining and oil and gas assets in the June quarter in a sign of confidence in the global economic outlook.
Subscribe to our English Newsletter
© Japan Australia Business Creators Pty Ltd | All Rights Reserved. Website designed and developed by Japan Australia Business Creators Pty Ltd.