News

Will taxpayers foot the bill for the Port of Darwin?

Published

5 years ago

May 4, 2021

As tensions between China and Australia continue to escalate, Australian taxpayers could be the latest victims of the deteriorating bilateral relationship between the two nations.

The Australian government is launching a review into the Port of Darwin, in the country’s north, which is currently owned by Chinese company, Landbridge.

If the review finds that ownership of the Port needs to be given up, taxpayers could be forced to foot the multimillion-dollar compensation bill that follows.

The Chinese company, owned by billionaire Ye Cheng, may have to give up the port if it’s found to be in breach of the so-called critical infrastructure laws which were enacted in 2018.

But experts fear the costs associated with this takeover could soar beyond $500 million dollars, if the 99-year lease is torn up.

“Landbridge acquired the lease to Darwin Port in good faith following a transparent process in 2015,” says Landbridge vice-president Mike Hughes.

“Our involvement was reviewed by both the Foreign Investment Review Board and the Department of Defence at the time and it has been subject to a Senate inquiry.”

Australia’s leader Scott Morrison says:

“If there is advice from the Defence Department or our security agencies that change their view about the national security implications of any piece of critical infrastructure, we have legislation now which is dealing with critical infrastructure.”

For a long time, Darwin has been seen as a “strategic frontline for Australia”, and the handing over of such a vital infrastructure lease to a Chinese-backed company in 2015 has baffled many politicians.

As tensions between China and Australia continue to grow, it will be interesting to see how the federal government responds.

Accordingly, if the lease is broken, one would expect a fairly animated response from Beijing in response.

News

Federal Reserve holds interest rates amid economic uncertainty

Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut. #FederalReserve #InterestRates #Economy

Published

6 hours ago

January 29, 2026

Harvey Vargas

Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut.

The Federal Reserve has opted to keep interest rates unchanged, marking the first pause since July. Officials are showing little urgency to resume cuts, even after previous rate reductions.

Two Fed governors opposed the decision, calling for a quarter-point cut, highlighting ongoing debates within the rate-setting committee, which includes both appointed governors and regional bank presidents.

Concerns over the job market and persistent inflation continue to weigh heavily on the Fed’s policy decisions, leaving economists and investors closely watching the next moves.

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#FederalReserve #InterestRates #Economy

News

Trump warns Iran as U.S. naval forces approach amid rising tensions

Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and tensions rise.

Published

6 hours ago

January 29, 2026

Harvey Vargas

Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and rising tensions.

U.S. President Donald Trump has urged Iran to return to nuclear negotiations, warning that failure to do so could result in a far more severe military response. Posting on Truth Social, Trump signalled a hardening stance as tensions between Washington and Tehran continue to rise.

Trump confirmed that a U.S. naval strike group led by the USS Abraham Lincoln is moving towards Iran, as protests grow inside the country over alleged government repression. The show of force comes amid heightened regional instability and mounting pressure on the Iranian leadership.

#Trump #Iran #USForeignPolicy

News

Nicki Minaj says her loyalty to Trump will not change

Minaj supports Trump as his biggest fan, rejecting bullying and claiming divine protection for him.

Published

8 hours ago

January 29, 2026

Harvey Vargas

Minaj supports Trump as his biggest fan, rejecting bullying and claiming divine protection for him.

The rapper says she is the president’s number one fan and has pushed back against what she describes as bullying.

Minaj claims Trump has powerful backing and says she believes God is protecting him, defending the president against what she views as unfair attacks and arguing that strong opinions should not be met with harassment.

She framed her comments as a stand against online intimidation rather than a call for division, with the remarks sparking widespread debate on social media and renewing discussion around celebrity influence in politics.

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