The new Western Sydney International Nancy-Bird Walton Airport has hit another major milestone with construction now underway on the world-class passenger terminal
Australian Prime Minister Scott Morrison said today’s announcement marked a significant step in this once-in-a-generation, city-shaping infrastructure project for Western Sydney, and Australia.
“The delivery of the Western Sydney International Airport proves once again our Government’s ability to get things done,” the Prime Minister said.
“We have made this happen. It is already delivering major benefits for Western Sydney, as we knew it would, and it only gets better from here.
The Prime Minister stated that the Coalition will continue to invest in job-creating infrastructure that drives investment and secures Australia’s economic recovery.
“Our total $14 billion investment in the airport and transport links is transforming this powerhouse region, attracting investment and supporting jobs for generations to come.”
Morrison stated that around 11,000 jobs will be supported during construction of the airport alone, and currently around one in two workers are from Western Sydney, “driving income and opportunity for families across the region.”
“Tens of thousands more jobs will be created when the airport is up and running in 2026, and millions of travellers are arriving into Sydney’s newest airport every year.
“The airport will also play a crucial role in the nation’s aviation future, delivering dynamic global connections for the region and opening up even further possibilities for new routes and services.”
Minister for Communications, Urban Infrastructure, Cities and the Arts Paul Fletcher says construction on one of the most significant infrastructure projects in Australia was now around one quarter complete.
“Despite the challenges of the global pandemic, work has continued to progress with nearly 22 million cubic metres of earth now moved to date across the site – which is about three times bigger than the Sydney CBD – and the airport on track to open in late 2026,” Minister Fletcher said.
Western Sydney Airport / Image: Supplied
The terminal will have the capacity to handle up to 10 million passengers each year.
“With this unique opportunity to build an airport from the ground up, we are able to roll out cutting-edge technology to make the passenger experience smoother and easier than at existing airports, and the security systems more effective but less intrusive.
“The new airport will not only be a state-of-the art piece of infrastructure but is an integral element of the surrounding aerotropolis and the broader Western Parkland city.
“In its own right, Western Sydney would be Australia’s fourth largest city and third largest economy, which is why the Morrison Government has committed $14 billion to the airport and vital metro rail and road links that will transform the region.”
Minister for Finance Simon Birmingham said construction of Western Sydney International’s world-leading innovative domestic and international airport had fastened its seatbelt and was ready for take-off.
“One of Australia’s largest infrastructure projects is now visibly taking shape and is delivering long-term jobs and economic benefits to Western Sydney,” Minister Birmingham said.
Western Sydney Airport / Image: Supplied
“Economic stimulus and job creation in Western Sydney is critical right now. Start of construction on the world-class terminal will see more jobs begin to flow in the coming months.
“Acting to build a second Sydney airport has been in the too hard basket for many years but our government is delivering this critical piece of infrastructure that will lift productivity and growth for decades to come.”
Federal Member for Lindsay, Melissa McIntosh welcomed the airport exceeding its local employment targets, saying the project would continue to create local jobs, for local people.
“Over $100 million has already been injected into businesses in Western Sydney, supercharging our local economy,” Ms McIntosh said.
“The airport will continue to provide more opportunities for local small businesses, opening up new markets and opportunities across Australia and beyond.
“This will drive more job creation for generations, particularly in the emerging industries recognising Western Sydney is at the forefront of fields including advanced manufacturing, research, and space, as a result of the Morrison Government’s investment.”
NSW Premier Perrottet / Image: Supplied
New South Wales Premier Dominic Perrottet said the airport would boost economic activity and provide employment opportunities for the Western Sydney region.
“This new airport integrates with our vision for Western Sydney and the future of how people will live, work and travel,” Mr Perrottet said.
“It means jobs for Western Sydney and will create new, convenient travel options for those who live in our west.”
The contract for the airside pavements package, which will include the 3.7-kilometre runway and rapid-exit taxiways, was awarded in September, with construction due to begin next year.
Bulk earthworks are around 75 per cent complete
In addition to the $5.3 billion investment in Western Sydney International, the Morrison Government has committed another $9 billion for the vital rail and road links that will transform the Western Sydney region.
This includes the $3.5 billion investment to deliver new major road infrastructure and upgrades under the Western Sydney Infrastructure Plan and $5.25 billion towards the first stage of the Sydney Metro – Western Sydney Airport rail link.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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