News

IMF urges Australia to cut spending and raise revenue

IMF urges Australia and APEC to cut spending, raise revenue, and reform for economic resilience amidst global inflation and debt challenges.

Published

11 months ago

November 17, 2024

ticker NEWS

Australia and APEC countries are urged by the International Monetary Fund to increase revenue and cut spending to prepare for future economic shocks.

IMF managing director Kristalina Georgieva addressed leaders at the APEC summit in Lima, Peru.

She acknowledged the decline in global inflation but noted that many nations still feel its impact.

Georgieva stated that while the global economy is growing, the rate is slower than in previous decades.

High public debt is straining government budgets, and trade’s role as a growth engine is diminishing due to increasing protectionism and trade barriers.

She predicted over 3,000 new trade restrictions worldwide for the year.

Georgieva emphasized that fiscal consolidation and reforms are necessary for sustainable economic growth.

She recognized the unpopularity of these measures, especially among political parties that favor increased spending.

However, establishing sound fiscal rules is crucial for responsible government budgeting.

Reform is challenging but important for empowering citizens, she added.

Leaders

Cyber security shifts redefine critical infrastructure in APAC

Cyber security evolution prompts redefinition of critical infrastructure in Asia Pacific amid rising digital threats

Published

6 hours ago

October 2, 2025

Nathan Langridge

Cyber security evolution prompts redefinition of critical infrastructure in Asia Pacific amid rising digital threats.

In Short:
– Cyber security incidents in Asia Pacific redefine critical infrastructure, expanding its scope beyond just industrial machinery.
– New strategies emphasise visibility to protect crucial sectors like banking, finance, and telecommunications from cyber threats.

The rise in cyber security incidents in Asia Pacific is reshaping the definition and protection of critical infrastructure. New digital and operational technology risks are prompting stakeholders to reconsider conventional beliefs that critical infrastructure is primarily industrial machinery behind high fences.

Michael Fisher from Garland Technology discusses this evolving landscape. Critical infrastructure now encompasses essential services such as banking, finance, and telecommunications, expanding beyond traditional definitions.

The convergence of IT and operational technology (OT) networks increases cyber security risks. Many OT services were not designed with cyber security in mind, leaving them vulnerable to cyber attacks. Industries most at risk include telecommunications, banking, finance, and utilities, where any disruption can significantly impact society.

Increased Visibility

Fisher highlights that traditional cyber security alone is insufficient to secure these infrastructures. Effective protection requires a new approach focused on visibility. Garland Technology’s mission is to provide visibility to upstream cyber security platforms, eliminating blind spots.

Governments and businesses must recognise their roles in combatting cyber threats. Australia’s Security of Critical Infrastructure Act is a step towards increasing corporate responsibility in recognising critical infrastructure and ensuring compliance with security measures.

News

Electric vehicles transform last mile delivery market

Australia’s last-mile delivery is rapidly adopting electric vehicles, fueled by green initiatives and insights from expert Joe Sofra.

Published

1 day ago

October 1, 2025

ticker NEWS

Australia’s last-mile delivery is rapidly adopting electric vehicles, fueled by green initiatives and insights from expert Joe Sofra.

The shift towards electric vehicles (EVs) for last mile delivery is accelerating globally, with Australia expected to see significant growth.

Companies and retailers are increasingly adopting greener solutions, driven by supporting government initiatives.

Joe Sofra from ANC discussed the current state of the last mile EV market.

#ElectricVehicles #Sustainability #LastMileDelivery #Innovation #Australia

News

Trump gives Hamas ultimatum for Gaza peace plan acceptance

Trump gives Hamas deadline to accept Gaza peace plan amid rising pressure from Arab states and ongoing conflict in the region

Published

2 days ago

October 1, 2025

Ahron Young

Trump gives Hamas deadline to accept Gaza peace plan amid rising pressure from Arab states and ongoing conflict in the region

In Short:
– Trump gives Hamas three to four days to accept a U.S.-backed Gaza peace plan, warning of consequences.
– Hamas calls the plan biased and insists on a complete Israeli withdrawal before considering any agreement.

U.S. President Donald Trump has given Hamas three to four days to accept a U.S.-backed peace plan for Gaza, warning of severe consequences if they reject it.The plan, shared by mediators Qatar and Egypt, emerged after Israeli Prime Minister Benjamin Netanyahu endorsed it during a visit to the White House. Hamas, which was not part of the talks, is expected to review the proposal that calls for disarmament, a previously rejected demand.

Trump stated that support for the plan came from both Israeli and Arab leaders, and he emphasised the need for Hamas to respond promptly. The proposal includes a ceasefire, hostage exchanges, an Israeli withdrawal from Gaza, and disarmament of Hamas, along with a transitional government.

A Hamas source described the plan as biased towards Israel and containing unacceptable conditions.

The group maintains that a complete Israeli withdrawal is a prerequisite for their agreement to any deal, while they are unwilling to disarm.

Pressure Mounts

Hamas faces significant pressure as foreign ministers from Saudi Arabia, Jordan, the UAE, Qatar, and Egypt have supported the initiative. Turkey’s intelligence head is also set to join discussions in Doha, marking a new level of mediation.

Despite expressing initial support, Netanyahu is cautious about the plan’s implications for Palestinian statehood and faces pressure from his coalition. Public sentiment in Gaza reflects a desire for peace, albeit with scepticism about the sincerity of both Trump and Netanyahu’s commitments.