Murderer Ron Medich and his family have reaped almost $500million from the sale of a block of land next to the new Western Sydney International Airport.
Ron and Roy Medich paid just $3.5million for the 344 hectares of farmland in 1996 and the single-storey brick home that stands on it was last rented for $280 a week.
The Badgerys Creek block on Elizabeth Drive - one of the largest bordering the airport - sold for $499,950,000 to a consortium with links to a Chinese billionaire.
Sales records show the vendors were Roy Medich Properties Pty Ltd and CSPA Properties Pty Ltd, of which 73-year-old jailed killer Ron Medich is shareholder.
Brisbane CBD office market heats up
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Brisbane has emerged as the countryâs hottest CBD office investment and development market with more than $1 billion in transactions expected to close through the first six months of 2021.
There are at least six major deals in motion around the Brisbane CBD as an increasing number of owners test the market in a city agents say is âpoisedâ for further growth.
This office building at 179 Turbot Street in Brisbaneâs CBD has just been put on the market by Investa.Â
âI think what weâve seen off the back of assets like 310 Ann Street and 10 Eagle Street is a bit more influx of activity in the Brisbane CBD,â said Justin Bond from Knight Frank.
The federal government is walking a budget tightrope
This is not the time for austerity, but nor is it the time to bake in community expectations of unaffordable support.
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Australia has managed the COVID-19 crisis and the recovery better than most countries in the world, and without spiralling into a prolonged recession. As the “lucky country” we have also been supported by high demand and increased prices for most of our resources.
The forthcoming federal budget is a challenge because we cannot afford to indefinitely spend more on recurring expenditure than the government receives in tax revenue.
Australia needs to lift productivity and participation as population growth slows down.
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Portraits of Apple co-founder Steve Jobs, Berkshire Hathaway investment titan Warren Buffett and investment banker Ken Moelis hang side by side in the Sydney boardroom of investment advisory and asset management firm Moelis Australia.
The irreverence of including Moelis, who founded Moelis & Company in 2007 after making UBS a mergers and acquisitions powerhouse, in the gang gives a glimpse into the culture and ambition of the US-based upstart advisory group, which in past years has scored plum mandates as wide-ranging as Aramaco to more recently advising CPH on Crown Resorts.
Moelis Australia joint chief executives Julian Biggins and Chris Wyke.
10:44 AM
China is spending US$40bn a year in Africa. Longer term consequences can include Australia s exports of iron ore
-China has been working hard on strengthening ties with African nations, resource-rich or otherwise
-China’s dispatch of PPE and vaccines to friendly nations in Africa has been a smart exercise in diplomacy
-All eyes on Guinea s Simandou deposit when it comes to Australia s position of global iron ore exporter
By Ed Kennedy
The Economist held a webinar ‘Africa-China Relations: new frontiers of co-operation?’.
One does not have to be a financier or policy wonk to recognise the substantial implications for the African region and the People’s Republic of China in deepening ties between the two. But the impact of an ever-increasing closeness certainly isn’t confined to Africa and China. Australia’s economic future could have a huge stake in it too.