Spare us this Coalition chaos

I find it difficult to understand all the hand-wringing that has been going on over the on-again-off-again split in the Coalition in the wake of the Federal Election.

The Liberals and the Nationals claim to be two separate parties, both on the conservative side of politics, so why don’t they behave as such?

In virtually every Westminster-style democracy, from New Zealand to Norway, parties contest elections individually and when the result is known go about the business of forming a Government.

In Denmark the system is so ingrained, and an outright winner so unlikely, that accommodation is set aside for the various party leaders to go into negotiations as soon as the poll results are known.

Some years ago the Nationals changed their name from the Country Party, presumably to broaden their appeal in non-rural and regional areas and give conservative voters in suburban and metropolitan seats a choice.

So what happened to that? Why have the two parties remained welded onto each other when it has been made clear in the past few days there are policy differences between them?

Under the Australian political system, there is nothing to prevent the two conservative parties running separate campaigns at election time while preferencing each other.

An election where the conservative side of politics is the overall winner, but with no party having an outright majority, would be the time for coalition negotiations.

Otherwise, there is no point in having two parties on the right. Let them amalgamate, as has happened in the Northern Territory and Queensland, and spare us this political circus.   

 

 

Irish PM calls for curb on Hungary’s EU veto

Ireland's Prime Minister Micheál Martin gave voice to what a lot of other leaders in the European Union are thinking when he said there was a need to reign in Hungary’s maverick leader, Viktor Orbán’s use of the veto in EU resolutions on Ukraine.

Mr Martin (pictured) suggested a stronger use of the Article Seven procedure in the EU Constitution that allows for the suspension of certain rights of a member State if that State is threatening the core values of the institution as a whole.

“Hungary was the only country to oppose the acceptance of aid to Ukraine in its war with Russia at the last two EU summits, and is also opposed to Ukraine's accession to the Union itself,” Mr Martin said.

"It's outrageous what's happening at the moment. In my view, it's essential that Ukraine becomes a member of the European Union for geopolitical reasons.”

Article Seven was introduced in the Treaty of Amsterdam in the 1990s as countries from the defunct Warsaw Pact queued up to join the EU. However, it has never been used because the procedure has never reached the stage when sanctions could be employed.

Mr Orbán, who is often seen as promoting Russian President Vladimir Putin’s views within Europe, claims Ukraine’s membership would bankrupt the EU.

Mr Martin also criticised the ban on Pride marches in Hungary.

"We are very concerned at attempts to undermine the LGBTI community in Hungary, essentially the banning of pride parades. These are very fundamental issues that the European Union has to engage with," he said.

 

War and peace — and war again?

As United States President Donald Trump seeks to strike a bargain with Russian President Vladimir Putin over Ukraine, Benjamin Jensen at the Centre for Strategic and International Studies has looked at how similar attempts worked out in the past.

His prognosis is not good.

Dr Jensen believes it is extremely risky and optimistic to think a deal with Mr Putin will end the Russian leader’s imperialist aims, or undermine the authoritarian axis of Russia, China, North Korea and Iran.

“In all instances, while wars end and crises are averted, underlying struggles over power persist. Great powers have great interests and rarely are willing to sacrifice them even when they are exhausted by conflict,” Dr Jensen says.

“This means any grand bargain with Russia should be weighed both in terms of its short-term benefit and long-term risk — and while it is impossible to predict the generational impacts of grand bargains — would Kissinger still go to China in 1971 if he read about the Chinese Communist Party in 2025? It is possible to assess the opportunity costs and likely trade-offs the latest grand bargain foretells.”

He believes any deal of land for peace in Ukraine is more likely to buy a temporary armistice than long-term stability.

“Territorial concessions at the end of the First Sino-Japanese War in 1895, enshrined in the Treaty of Shimonoseki, sowed the seeds of future wars in Asia and the rise of a more militaristic Japan in the 20^th century,” Dr Jensen says.

Asking Ukraine to give up territory would gain favour in Moscow but at the cost of acerbating other territorial disputes in the Baltics and Caucasus.

“Furthermore, the Russian economy has become essentially a wartime economy, meaning an end to war is not an end to the business of war.”

 He says that even if Russia gives security guarantees to Ukraine, which are backed by European troops, it won’t necessarily stop their agents from continuing hybrid attacks in Europe, global cyber operations targeting US interests, and a sustained conventional military build-up.

“For the grand bargain to work, Trump will have to trust that Putin won’t use the end of hostilities in Ukraine to accelerate rearming. In the worst case, Putin could wait until Trump’s Presidency ends to launch a new war, potentially timed with a major Chinese action against Taiwan.”

Sadly, these warning will have little impact on Mr Trump’s thinking. This vain and narcissistic man is after one thing, the Nobel Peace Prize.

If whatever deal he makes holds together long enough (and US pressure on the Nobel Committee is sufficiently sustained) he all probably get his wish — no matter if everything goes pear-shaped in the years to come.

Is MAGA losing faith in Trump?

The painfully narrow win for Donald Trump-supported Mike Johnson in the race for the Speakership of the Republican-controlled House of Representatives is an indication that the President-elect may be facing problems with extreme elements of his own party in the months ahead.

It is quite possible that the Make America Great Again (MAGA) movement that he created is leaving Trump behind in its ruthless race to create a different kind of society – one rooted in isolationism and a deep distrust of anyone that does not wholly subscribe to its Judo-Christian values.

It is playing out in the war of words between one-time Trump strategist Steve Bannon (pictured) and the President-elect’s “favourite billionaire” Elon Musk.

Musk wants highly-skilled foreign workers to be exempt from Trump’s proposed mass deportation of immigrants, claiming they are needed in his high-tech Tesla and SpaceX industries.

This is anathema to Bannon who claims it is outrageous to suggest Americans are not capable of doing these jobs. Musk and ally, tech entrepreneur Vivek Ramaswany have countered this, with Ramaswany claiming the “dumbed-down” television culture since the 1990s is responsible for why Americans cannot compete with brainy foreigners.

Musk went further, using the ugly “retarded” slur on his X platform before deleting it amid mounting outrage.

In another possibly significant development, Bannon has started to use religious terminology in relation to MAGA, calling Musk, Ramaswany and other new Trump supporters from the tech world as “recent converts”.

“We love converts, but the converts sit back and study for years and years to make sure they understand the faith and understand the nuances of the faith, and understand how they can internalise the faith,” Bannon said.

“Don’t go to the pulpit in your first week and lecture people about the way things are going to be,” he said, before reverting to more secular language “otherwise we’re going to rip your face off”.  

Since that exchange MAGA figures have begun to highlight Musk’s South African origins and the fact that Ramaswany has Indian immigrant parents in what is looking like an increasingly unpleasant internal struggle within the Republican ranks.

Meanwhile Bannon, still resentful over his short tenure as an insider in the first Trump White House, is positioning himself as the guardian of the fundamental MAGA faith – possibly putting large segments of true believers at odds with Trump when he grapples with the complex realities of governing.   

 

Rising anger at ‘conspicuous loutishness’

In a recent article on LinkedIn an Indian corporate worker unloaded on the millionaires “with two BMWs in the garage” who give lectures on minimalisation; company vice presidents who refuse their workers stock options because “it’s your company anyway”.

Right-wing economists who complained about the cost of public transport having never set foot on a bus and celebrities that bully their way past queues into restaurants and night clubs claiming they would he hassled for selfies and autographs if they had to stand in line.

“All this is just to keep most of us poor, ugly and average – the world is full of hypocrites selling half-truths to protect their advantage,” the worker complained.

India is a country where the gap between rich and poor is often at its glaringly obvious and it is easy to see how resentment might grow, especially among the aspirational middle classes who find the way to further progress blocked by the rich and powerful.

However anger against the wealthy is on the rise around the world, exacerbated by what US researchers have termed “conspicuous loutishness”.

A video of a teenage Chinese girl burning bank notes lit up social media a couple of years ago. The researchers found that first-class passengers on airline flights where three times more likely to be rude to flight attendants than those in economy class and, in their top-of-the line motor vehicles were less likely to stop at zebra crossings for pedestrians.

Some observers believe that while some elements of the entitled classes have always thrown their weight around, social media and mobile phones mean their antics are much more likely to be publicised than in earlier times.

Also the wealthy of old often abided by unwritten rules of behaviour, keeping to the background often emerging only for philanthropic events that enhanced rather than degraded their image.

Now United States President-elect Donald Trump’s billionaire Cabinet with the world’s richest man, Elon Musk, dancing about like a child at a Sunday School picnic, is there for all to see.

Whether culture wars, beloved of think tanks the world over, will metamorphose into conflicts specifically between the haves and the have-nots is still a moot point, but all the indications suggest the answer will come sooner rather than later.  

 

  

Hydrofoil ferry enters Swedish service

STOCKHOLM: The world’s first electric hydrofoil ferry has begun operations, carrying passengers from the Stockholm suburb of Tappström to the city centre of Sweden’s capital.

Nova is the first of Candela’s new P-12 models to enter service. Its computer-controlled hydrofoil wings lift the hull above water, reducing energy consumption by 80 per cent compared to conventional vessels by cutting water friction.

Candela Chief Executive, Gustav Hasselskog said conventional ships haven’t evolved much in 100 years and are among the least energy-efficient transport modes.

“The challenge with conventional fast vessels is that they consume enormous amounts of energy at high speeds ploughing through the water. This makes electrification difficult, as their range is limited even with large batteries,” Mr Hasselskog said.

“Candela P-12’s hydrofoil technology is the key to address these challenges.”

He said Nova flies above the water rather than pushing through it like conventional vessels, so it creates minimal wake. As a result, the ferry is allowed to travel at high speeds within the city limits.

“Thanks to its hydrofoil technology, Nova is not only the fastest electric ferry in operation in the world but also the fastest in Stockholm’s public transport fleet, cruising at 25 knots — outpacing the diesel-powered V-class ferries that previously held the speed record,” Mr Hasselskog said.

“Nova also requires no costly dock infrastructure, charging instead at a regular car fast charger at the City Hall terminus”.

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Metakosmos upgrades its Kosmosuit

SYDNEY: Space technology company, Metakosmos has announced the Kernel360 — spacesuit telemetry software which is integrated into its Kosmosuit platform.

The development provides real-time data analytics, supporting critical missions in extreme environments.

Metakosmos has designed the Kernel360 to provide real-time performance diagnostics, enabling astronauts and operators to collect, analyse and act on crucial data during training sessions and live missions.

Chief Executive, Kiriti Rambhatla said the software went beyond traditional telemetry systems by incorporating predictive analytics.

“It helps anticipate suit-maintenance needs and optimises mission logistics. It adapts to various mission environments as a modular system, making it essential for space travel and operations in terrestrial, underwater, and atmospheric conditions,” Mr Rambhatla said.

“With the Kernel360, we are making space more accessible and cost-effective, while delivering advanced solutions to enhance safety and mission success."

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SPEE3D makes ground-breaking US sale

MELBOURNE: Metal additive manufacturing company, SPEE3D has announced the purchase of its WarpSPEE3D printer by Austal USA Advanced Technologies.

This purchase is especially significant as ship manufacturer, Austal USA is a leader in cutting-edge technology for defence and maritime applications and is spearheading the effort to revolutionise the United States Navy's supply chain through additive manufacturing.

Director of Advanced Technologies at Austal USA, Scott Kasen said utilising the SPEE3D system would provide additional capability for manufacturing traditionally cast parts.

Chief Executive of SPEE3D, Byron Kennedy said his company had worked successfully with the US Navy in the past and understood the unique challenges it faces with the need for manufacturing capabilities that were fast, reliable, and easily deployable.

“Our partnership with Austal USA furthers this commitment to meet the ever-changing manufacturing needs of maritime forces," Mr Kennedy said.

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Christie’s expands Australian presence

PERTH: Christie’s International Real Estate has partnered with a multinational agent team led by Shelley Scorer to launch its presence in Western Australia and South Australia.

The launches come amidst a surge of international homebuyers and investors seeking the two regions’ affordable luxury, natural beauty and quality of lifestyle.   

As an affiliate of Christie’s International Real Estate, the new brokerage will offer its clients access to world-class marketing and a global network spanning nearly 50 countries and territories.

Regional Managing Director of Christie’s International Real Estate, Helena Moyas de Forton said the dual launch gave the company a presence on both coasts, joining existing affiliates in Sydney and Victoria.

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XPENG on the move into two listings

SHANGHAI: Chinese high technology car company, XPENG has secured places on both the Fortune Tech 50 and Fortune China 500 lists.

Fortune Tech 50 is an inaugural list by Fortune China that spotlights Chinese tech companies making a global impact.

XPENG was one of only two automotive companies to make the list, thanks to its pioneering AI-defined mobility technology, autonomous driving breakthroughs, and industry-leading AI model applications.

Fortune China praised XPENG for its edge in smart driving technology.

"XPENG is a formidable competitor in the sector as the race for dominance in autonomous driving intensifies,” it said.

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Qsic names head for Asia-Pacific sales

MELBOURNE: AI-powered in-store audio retail media platform, Qsic has appointed Brad Montgomery as its sales lead for their Asia-Pacific region.

Qsic powers in-store audio retail media networks for thousands of retailers and brands across the globe and is seeing increased demand as retailers look to expand retail media into the in-store experience.

Earlier this year, Qsic reported 220 per cent year-over-year growth, putting the company on track for its strongest result to date.

Mr Montgomery adds more than 15 years of industry experience in audio and out-of-home advertising to bolster Qsic’s sales team in the region.

An occasional round-up of international business stories

 

Commodity markets ‘dangerously volatile’

TAIPEI: EBC Financial Group, in partnership with DiNapoli Experts, has hosted an event aimed at exploring key strategies for navigating volatile markets.

Harnessing the Power of DiNapoli Indicators to Conquer Black Swan Events* brought together financial experts, traders, investors, and economic strategists as part of EBC’s broader commitment to thought leadership in finance.

It offered critical insights not only for traders, but for those seeking a deeper understanding of global financial trends, including the impacts of geopolitical tensions, inflation, and the evolving role of technology in market prediction.

Chief Executive of EBC Financial Group (UK) Ltd., David Barrett issued a stark warning about the growing economic fragility facing global markets.

He said the United States Federal Reserve’s recent rate cuts had unsettled bond markets, exposing deep vulnerabilities in the international financial system.

“While the US equity market has enjoyed a brief rally, Germany’s economic downturn threatens to spiral into a wider Eurozone crisis,” Mr Barrett (pictured) said.

“Geopolitical conflicts — from the ongoing war in Ukraine to instability in the Middle East — are now global flashpoints, disrupting energy supplies and pushing commodity markets toward dangerous levels of volatility.”

He said this combination of factors could drag the global economy into deeper, more unpredictable volatility, leaving even experienced investors facing unprecedented uncertainty.

As the US presidential election approaches, Mr Barrett warned that this divisive political battle could be another major destabilising factor for markets, as investors braced for shifting economic policies and potential political upheaval.

“We are not just seeing market volatility; we are looking at a perfect storm where geopolitical tensions, inflation, and monetary policies are converging like never before,” he said.

“Investors and traders need to take urgent action, adapting to this new reality with precision, foresight, and advanced tools like DiNapoli Indicators to help navigate through the uncertainty.”

He said otherwise market participants risked being left behind in a financial environment that demanded data-driven decision-making and the ability to manage complex risks.

General Manager of Fibonacci Investment Consulting, LLC, Jason Zeng stressed the critical role that DiNapoli Indicators played in helping investors identify key market retracement points and in timing trades effectively.

Mr Zeng, a long-standing expert in DiNapoli-Levels trading, explained how these indicators were not just tools for predicting price movements, but crucial systems for managing risk and profitability in highly volatile markets.

“Traders who rely on these indicators can enhance their risk management and improve trade execution,” Mr Zeng said

*Black Swan event: An event that comes as a surprise, has a major effect, and is often inappropriately rationalised after the fact with the benefit of hindsight.

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Ekati Diamond Mine continues to glitter

CALGARY: Burgundy Diamond Mines Ltd. has announced its Ekati Diamond Mine in Canada’s Northwest Territories has reached the milestone of 100 million carats produced in 26 years of production.

Ekati was Canada’s first diamond mine and continues to rank in the top 10 producers world-wide, renowned for its high-quality, ethically-sourced diamonds.

Chief Executive, Kim Truter said running a 24/7-365 days a year operation in a remote sub-Artic location, took ingenuity, grit, and resilience — “a testament to the strength of our people”.

“As we reflect on this historic achievement, Ekati continues the legacy as one of the premier diamond assets in the world in a tier-one location producing highly sought after sustainably and ethically produced diamonds for the global market,” Mr Truter said.

“Ekati still has 140 million carats remaining in Indicated Mineral Resources, one of the largest unmined diamond endowments in the world.”

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Crunchtime serves up AI dish for restaurants

BOSTON: Provider of operations management solutions for the restaurant industry, Crunchtime has announced the general release of new artificial intelligence capabilities that enable restaurants to forecast their sales with even greater accuracy.

Chief Executive, John Raguin said by incorporating a custom-built machine learning algorithm into Crunchtime’s already powerful forecasting engine, the AI forecast provided restaurant teams with a new tool to more accurately predict customer demand.

“Even for a seasoned general manager, forecasting sales is difficult. This wreaks havoc on a restaurant’s profitability and creates a variety of costly operational issues related to inventory, waste, and staff scheduling,” Mr Raguin said.

“Over the past 12 months, Crunchtime has worked closely with customers to test, refine and improve its existing industry-leading forecast engine with the addition of AI forecasting capabilities.”

He said early results had been promising with restaurants seeing an increase in forecast accuracy by up to 27 per cent at different locations during testing.

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STACK’s Tokyo campus in operation

SINGAPORE: data centre developer and operator, STACK Infrastructure has completed the first facility on its new 36MW flagship Tokyo campus.

Located in Greater Tokyo’s Inzai District, the development addresses growing demand for scalable critical capacity in the Asia Pacific region.

Chief Executive, Preet Gona said the 2.3-hectare campus featured two purpose-built 18MW buildings, each designed with advanced security and artificial intelligence-ready capabilities to meet the evolving demands of global technology leaders.

“This facility not only reinforces our Asia-Pacific portfolio, it also exemplifies our strategic vision and leadership in pioneering next-generation digital infrastructure solutions that are both scalable and sustainable,” Mr Gona said.

The facility was welcomed by the Mayor of Inzai, Kengo Fujishiro, who said he hoped it would become a new symbol of Inzai, rooted in the local community.

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Nearfield earns a spot in the Asian sun

ROTTERDAM: Metrology technology specialist Nearfield Instruments has announced the sale of its QUADRA High-Throughput Process Control Metrology product to a semiconductor manufacturer in East Asia.

The sale further strengthens Nearfield Instruments’ presence in this technologically advanced region.

Chief Executive, Hamed Sadeghian said the QUADRA system was selected following a competitive evaluation process, where it out-performed alternative metrology solutions in several key areas critical to advanced semiconductor manufacturing.

“It underscores the confidence our customers have in the QUADRA system’s ability to meet the demands of next-generation semiconductor fabrication, as well as the strength of our customer service and support,” Mr Sadeghian said.

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Game on with Treasure’s new partnership

NEW YORK: E-commerce platform operator, Treasure Global Inc. has announced a partnership agreement with Octagram Investment Ltd., a software development firm specialising in scalable solutions across various sectors.

This strategic collaboration aims to enhance user engagement and drive growth through the integration of innovative mini-game modules into Treasure Global’s ZCity platform.

As part of the agreement, Octagram will design and develop modules tailored to ZCity’s growing user base, enhancing the platform’s offerings by delivering engaging, interactive experiences.

Treasure Global Chief Executive, Carlson Thow said the partnership was a pivotal step in his company’s strategy to broaden its digital engagement tools, integrating interactive entertainment and enhancing the customer experience as it diversified its service offerings.

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VCI Global names new Executive Director

KUALA LUMPUR:  Technology consultant, VCI Global Ltd. has appointed Victor Lee as its new Executive Director in succession to Marco Baccanello.

Mr Lee is a private equity professional with 28 years of experience across various asset classes, including private equity, growth capital, leveraged buyouts, distressed assets, venture capital, private credit and crypto-currency.

He has spent the past 19 years at Franklin Templeton, a global asset management firm, where he held several senior roles in private equity and alternative strategies.

VCI Global Chief Executive, Victor Hoo said Mr Lee’s extensive experience and strategic insights would be invaluable as the company navigated the dynamic market landscape.

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 No tricks: BTCC promises Halloween treats

VILNIUS: BTCC Exchange has launched its Halloween Futures Trading Campaign, inviting users to enter a thrilling crypto-haunted dungeon where they can unlock treats worth up to $US1,8 million ($A2.7 million)

This campaign, which runs until November 1, promises a hauntingly good time for both seasoned traders and newcomers alike.

This year, BTCC is offering three treats for participants. The first allows users to trade futures and share in a $US1 million ($A1.5 million) prize pool.

New traders will find their own special treat with a $US3,000 ($A4,500) prize pool specifically designed for those who haven’t yet ventured into futures trading on BTCC.

Finally, BTCC is offering free position vouchers of up to $US700,000 ($A1.05 million) for users who complete consecutive daily trades. The first 1,000 users to meet the requirements will unlock these rewards.

An occasional round-up of international business stories