VIRUS DISEASES – AUSTRALIA

Iron ore price surge set to boost WA budget amid Brazil coronavirus crisis and Chinese demand

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Original article by James Carmody
abc.net.au – Page: Online : 29-May-20

The resilience of the iron ore price may provide some relief for the Western Australian government amid growing concern that the state faces a recession. Treasurer Ben Wyatt has indicated that mining royalties could be higher than forecast, which will help to offset a decline in the state’s revenue from other sources. WA’s iron ore industry has benefited from factors such as lower output in Brazil and the state’s closer proximity to China. Meanwhile, the remoteness of WA’s iron ore mines has traditionally been seen as a disadvantage, but it has been regarded as a positive during the coronavirus pandemic.

CORPORATES
WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE

Fast track to post-virus freedom

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 29-May-20

A meeting of the national cabinet on 29 May will review the progress of the states and territories in easing coronavirus lockdown restrictions in recent weeks. Meanwhile, the federal government’s target date of July to re-open the economy may be brought forward if the nation’s success in containing the virus’s spread is sustained. The Australian Health Protection Principal ­Committee is expected to recommend doing so earlier if the nation continues to record fewer than 10 new cases of the coronavirus each day. The meeting is also expected to consider retaining the national cabinet model in the post-coronavirus environment.

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AUSTRALIAN HEALTH PROTECTION PRINCIPAL COMMITTEE

Zahra calls for overhaul of retail awards

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Original article by Glenda Korporaal
The Australian – Page: 15 : 25-May-20

Retail sector employees are covered by 122 separate industry awards, and Australian Retailers Association CEO says this should be reduced as part of the nation’s economic recovery from the pandemic. Zahra has also urged greater flexibility with regard to stores’ trading hours and penalty rates in the sector. He argues that the complexity of the awards system is contributing to the growing problem of wage underpayments in the retail sector. Zahra warns that retail sales could fall sharply when the JobKeeper scheme is phased out in September.

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AUSTRALIAN RETAILERS ASSOCIATION

Cut tax to spark mining boom

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Original article by Geoff Chambers
The Australian – Page: 1 & 5 : 25-May-20

The Minerals Council of Australia has urged the federal government to reduce the company tax rate as part of its post-coronavirus economic strategy. MCA CEO Tania Constable says the nation’s corporate tax rate is not internationally competitive, and measures such as tax reform and speeding up project approvals could prompt a new wave of resources projects worth around $100bn. Master Builders Australia has in turn called for a $13.2bn stimulus package for the construction industry. Prime Minister Scott Morrison will deliver an economic recovery speech on 26 May.

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MINERALS COUNCIL OF AUSTRALIA, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Research reveals how virus spreads

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Original article by Imogen Reid, Natasha Robinson
The Australian – Page: 3 : 22-May-20

A research team at the Doherty Institute has identified 76 coronavirus clusters in Victoria using genomic sequencing. Doherty Institute director Benjamin Howden says the technology has enabled it to both identify large clusters and determine the impact of social restrictions on COVID-19’s spread within the community. Victoria has recorded more than 1,500 coronavirus cases in total, and Howden says genomic sequencing has enabled the Doherty Institute to determine the source of infection for many of the 165 cases whose origin had previously been unknown.

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UNIVERSITY OF MELBOURNE. PETER DOHERTY INSTITUTE FOR INFECTION AND IMMUNITY

Leaders’ spat a risk to our national unity

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Original article by Craig Johnstone, Sarah Elks
The Australian – Page: 5 : 22-May-20

Professor AJ Brown of Griffith University says a war of words between state leaders over restrictions on interstate travel may undermine the national cabinet’s spirit of co-operation during the coronavirus pandemic. The professor of public policy and law says it is "surprising and a little disappointing" that New South Wales Premier Gladys Berejiklian is calling for state borders to be reopened for economic reasons. NSW has criticised Queensland Premier Annastacia Palaszczuk for signalling that her state’s borders may remain closed until September.

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GRIFFITH UNIVERSITY, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Lowe urges banks to lend again

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Original article by David Rogers
The Australian – Page: 13 & 17 : 22-May-20

Reserve Bank governor Philip Lowe has praised the resilience of Australia’s financial system and said that it is well-placed to ride out the coronavirus pandemic. Lowe has also told a Financial Services Institute webcast that banks should utilise the capital and liquidity buffers that they have built up over the last decade and continue to lend during the pandemic. Lowe also repeated his view that the prospect of negative interest rates in Australia is unlikely.

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RESERVE BANK OF AUSTRALIA, FINANCIAL SERVICES INSTITUTE OF AUSTRALASIA

Australian guinea pigs step up for virus trial

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Original article by Natasha Robinson
The Australian Financial Review – Page: 1 & 5 : 20-May-20

Australia-based Q-Pharm will shortly commence a phase one clinical trial of a coronavirus vaccine that is being developed by US biopharmaceutical group Novavax. Some 131 people in Melbourne and Brisbane have volunteered to participate in the clinical trial. Q-Pharm will also undertake phase 1 clinical trials of a potential vaccine that being developed by the University of Queensland. Meanwhile, the Walter & Eliza Hall Institute of Medical Research will commence a clinical trial of antimalarial drug hydroxychloroquine.

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Q-PHARM PTY LTD, UNIVERSITY OF QUEENSLAND, WALTER AND ELIZA HALL INSTITUTE OF MEDICAL RESEARCH

Coalition eyes Australian economic sovereignty with boost to manufacturing

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Original article by Paul Karp
The Guardian Australia – Page: Online : 20-May-20

Federal Industry Minister Karen Andrews will use a National Press Club speech on 20 May to call for Australia to ramp up local manufacturing in the post-coronavirus environment. She will argue that factors such as domestic manufacturing, a lower company tax rate and an increase in natural gas supply are crucial to the nation’s economic sovereignty. Andrews will also emphasis the need for projects to be approved more quickly.

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AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES

Border bans to wipe out tourism jobs

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Original article by Charlie Peel, Sarah Elks
The Australian – Page: 1 & 2 : 19-May-20

The Queensland government has indicated that the state’s borders may not be reopened to interstate travellers until September. South Australia and Western Australia have also flagged the possibility that travel restrictions could remain in place for some time, prompting concern about the impact on the tourism sector. Winter is a key tourism season for Queensland, with 2.2 million visitors from interstate staying there for at least one night between June and August 2019. Flight Centre CEO Graham Turner says Queensland’s tourism industry could take years to recover if the state remains closed to interstate visitors during the winter months.

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QUEENSLAND. DEPT OF THE PREMIER AND CABINET, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT