Territory Stories

The Northern Territory news Sat 26 Nov 2016

Details:

Title

The Northern Territory news Sat 26 Nov 2016

Other title

NT news

Collection

The Northern Territory news; NewspaperNT

Date

2016-11-26

Description

This publication contains may contain links to external sites. These external sites may no longer be active.

Language

English

Subject

Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin

Publisher name

News Corp Australia

Place of publication

Darwin

Use

Copyright. Made available by the publisher under licence.

Copyright owner

News Corp Australia

License

https://www.legislation.gov.au/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/265487

Citation address

https://hdl.handle.net/10070/459106

Page content

SATURDAY NOVEMBER 26 2016 BUSINESS 35 V1 - NTNE01Z01MA , Qantas Freight executive manager Alison Webster of Moon Lake Investment's managing director Sean Shwe and Premier Will Hodgman with the first batch of VDL Diary milk bound for Chinese consumers Picture: LUKE BOWDEN MORE than 50,000 litres of fresh milk a week will be flown by Qantas from Hobart to China if a freight deal between VAN Dairy and the airline gets off the ground. Subject to government and regulatory approval, the Tasmanian dairy producers milk will be carried by Boeing 767 to Ningbo and then trucked to cities including Chinas capital Beijing during the first half of 2017. Qantas plans to run one flight a week but could increase the number depending on demand. Managing director of VAN Dairys parent company Moon Lake Investments, Sean Shwe, said there is a huge demand for fresh milk in China. Establishing this trade bridge is an exciting venture for our dairy company ... and opens the door for access for other Tasmanian producers of fresh, perishables such as seafood, fruit and vegetables, he said. Australias oldest dairy farm, VAN Dairy, formerly Van Diemans Land Farms, was controversially bought by Chinas Moon Lake Investments in February. Chinese to savour cream of Aussie produce Share market hits three-month high THE share market has hit a three-month high thanks to demand for mining and energy stocks including BHP Billiton, Rio Tinto and Woodside Petroleum. The benchmark S&P/ASX 200 index rose 0.4 per cent to 5507.8, its highest level since August 26. Bell Direct equities analyst Julia Lee said investors piled into the local market despite no direction from Wall Street, which was closed for the Thanksgiving holiday. Gains in commodity prices, including copper and iron ore, continued to support demand for resources stocks, she said. Weve seen copper up 24 per cent for the month thats the best monthly performance for copper in 10 years, she said. BHP Billiton jumped 59 cents to $26.50 after ratings agency Moodys upgraded the mining giants outlook. Dollar makes up ground on greenback THE Australian dollar has improved against the US dollar on the back of stronger commodity prices and muted Thanksgiving trade on financial markets. The local unit was trading at 74.32 US cents at 5pm AEDT yesterday. It was up from 73.78 US cents on Thursday. It is sort of stuck between a strong US dollar, which is pushing it down, and strong commodity prices, which is pushing it up, Commonwealth Bank currency strategist Joseph Capurso said. Mr Capurso said markets had been very quiet given Thanksgiving in the US. Activity next week is likely to be driven by the release of key US economic data including the ISM manufacturing report and non-farm payroll figures, he said. Woolies bracing ahead of Amazon WOOLWORTHS is preparing for the Amazon threat by setting up a special team to handle the online retail giants potential arrival in Australia. AmazonFresh, the online supermarket subsidiary of the American e-commerce company, is reportedly planning to launch in Australia as early as next year. Woolworths says it sees Amazon as a serious disrupter, and chairman Gordon Cairns revealed the group has set up a team to look at the threat. We didnt want to distract people in the supermarket business worrying about how to compete with Coles and Aldi today (with) worrying about Amazon so we have set up a separate unit, Mr Cairns told the groups annual general meeting on Thursday. He said US retail expert Kathryn Tesija, a director on the Woolworths board, has been providing coaching and insights. The former US Target executive also told shareholders that Amazon was a real threat. They are a formidable competitor. They will be someone we will take seriously, Ms Tesija said. Woolworths has the advantage of being an entrenched player in the supermarket business, she added. Woolies has a number of different stores and the best locations in major cities in the country; and they built that over 91 years which Amazon cant replicate anytime soon. Coles and German discount retailer Aldi have declined to say whether they have also set up teams to analyse the potential threat Amazon would pose. A spokesman for Coles said the group was focused on continuing to deliver competitive food prices, while an Aldi spokesperson said it welcomed competition and was committed to being the price leader. Roy Morgan Research chief executive Michele Levine doubts the arrival of Amazon would spark another price war. Amazon would target people who are early adopters of technology and can afford to pay the service that solves their problems, she said. If Amazon can bring a really good grocery delivery service that gives people what they want, when they want it and they get fresh produce, they can probably charge more for it. AUSSIE DOLLAR USD EUR GBP NZD JPY HKD CHF BRENt CRUDEIRON ORE OIL WtI +0.005 +0.004 +0.004 +0.004 +1.16 +0.047 +0.005 +1.06 -4.45 -0.33 0.00 0.743 0.703 0.597 1.059 84.29 5.764 0.755 76.93 48.67 46.47 GOLD 1183.2