While startups, across the globe, have raised millions of dollars online through ICOs, often with little more than a handful of employees, given the high risks faced by investors from such ventures, regulators are increasingly putting ICOs under the scanner. On Thursday, the Australian Securities & Investments Commission (ASIC), Australia’s corporate watchdog, stated it was…
A routine maintenance led to the payment processing issues at Australia’s Central Bank. On Thursday, Australia’s central bank stated, an internal power failure caused by the maintenance of its fire control systems as the cause of its Sydney data center inability to process some payments. Although the outage lasted only 3 hours, according to representatives…
The development could be related to the fact that Chinese laws require organizations as well as citizens to support, assist and cooperate with its intelligence network. The United States has also banned Huawei citing national security concerns despite strenuous denials by Huawei. On Thursday, the Australian government stated, it has banned China’s Huawei Technologies Co…
This development essentially cements blockchain’s future in the coming years. Its adoption will slash costs, boost transparency and will revolutionize the finance industry from what we know it today. In what is likely to be a milestone for blockchain technology, Commonwealth Bank of Australia has won a mandate from the World Bank to organize a…
This is probably an adjustment period for Amazon in Australia, opine analysts since it is not the kind of company that accepts failure. It would have long term goals. Amazon has reported a modest loss in its Australian operations in its latest corporate filings. Its entry into the Australian market in 2017 had made established…
The likelihood of the class-action lawsuit will depend on the findings of the Australian Information Commissioner which is probing Facebook’s improper handling of 311,000 Australian users’ data. On Tuesday, IMF Bentham Ltd, a litigation funding provider, disclosed it was funding a representative who has complained against Facebook Inc’s alleged breaches of Australia’s Privacy Principles. IMF…
The nenewable energy market in the Asia Pacific region is to boom with utility-scale batteries replacing expensive power grids. In a strategic move, Japan’s JERA, is set to collaborate with a U.S.-German joint venture along with an Australian firm in order to develop battery projects in the Asia-Pacific region. The move targets a market expected…
As a first step, cryptocurrency providers in Australia will have to register themselves with AUSTRAC and comply with KYC norms. On Wednesday, in a move aimed minimizing the risks surrounding cryptocurrencies, Australia has brought the country’s cryptocurrency providers under the purview of its financial intelligence unit, so as to monitor and take necessary action against…
Australian Foreign Minister Julie Bishop made it lucidly clear that in any such deal, Australia would want to secure the rights for its citizens to work in Britain. On Monday, Julie Bishop, Australia’s Foreign Minister stated it would welcome Britain’s participation in the regional trade group, Trans-Pacific Partnership, after March 31, 2019. Earlier this year,…
Holding a dominant market share in India’s fierce ride-hailing market, Ola plans on launching itself in Australia by inviting driving partners and private vehicle owners in the cities of Perth, Melbourne and Sydney. On Tuesday, Ola, an Indian ride-hailing company announced plans on entering the Australian market intensifying its effort to win market share embattled…
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