Latest updates on Key Economic Indicators:

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All changes compared to 7am yesterday.

Israel still has no proof of UNRWA terrorist claims:

You didn't have to be a brain surgeon to recognise what was obviously an attempt by Isreal to cause additional chaos & carnage in Gaza, when unsupported Israeli allegations about UNRWA links to terrorism led major donors to cut $450m in funding to the main humanitarian agency working in Gaza at a time when people there were dying in droves.

Three months later, the situation has only worsened with the onset of a human-made famine on top of the bombing, the collapse of healthcare, the lack of water and a rise in epidemics.

And despite a rigorous inquiry by the former French foreign minister Catherine Colonna, supported by three well-respected research institutes, there is still no evidence for the claim that significant numbers of UNRWA employees have Hamas or Islamic Jihad ties.

There is a separate review under way into specific claims UNRWA employees took part in the 7 October attack but that investigation is still not complete, UN officials say.

The last time there was a progress report, however, Israel was still withholding cooperation.

The Colonna inquiry, which is a broader assessment of UNRWA neutrality, wrote to the Israeli authorities in March and then again in April asking for names and evidence behind Israeli claims of Hamas and Islamic Jihad ties.

Arguably, Israel did not need to cooperate as UNRWA’s donors proved themselves to be all too eager to cut off funding without seeing any evidence.

For the US, formerly UNRWA’s biggest source of finance, it is too late.

Congress has insisted US funding of the agency should not resume until March 2025 at the earliest.

Kokoda Track in 'worst condition' in more than 30 years:

The mountainous 96-kilometre trail — a place of pilgrimage for tourists commemorating one of Australia's pivotal military victories — has fallen too far into disrepair, according to guide Charlie Lynn.

"It's in the worst condition it's ever been in, in the 32 years that I've trekked across it," he said.

He described parts around Brown River, far inland on the track, as "Death traps".

"You would hardly call it a track. It's about 10 metres above the river and if anybody has a misstep with their pack on … you will never find them again," he said.

Mr Lynn, the son of a WWII veteran, led one of the first Australian tourist groups across the famous track on the 50th anniversary of the battle in 1992.

Since then, it's become an important source of income for villagers along the trail, bringing in 50 million kina ($20.4 million) annually to PNG's economy.

The Battle of Kokoda is among the most celebrated Australian victories of WWII, when Australian soldiers and Papua New Guinean villagers repelled the Japanese advance on Port Moresby along the mountain trail.

It forged an enduring bond between Australia and Papua New Guinea, which is now symbolised by the track — something that Prime Minister Anthony Albanese will mark as he walks part of it on Anzac Day after arriving in PNG on Monday.

China rebuff in PM's Anzac Day PNG push

The Australian Financial Review - Page 3 : 23 April 2024 - Original article by Tom McIlroy - Portmac.News Summary

Prime Minister Anthony Albanese has arrived in Port Moresby ahead of a week of Anzac Day commemorations, with Albanese and PNG Prime Minister James Marape to walk part of the Kokoda Trail during his visit.

Speaking at PNG's parliament, Albanese said that Pacific nations should be "Free to pursue their own destiny and secure their own future", with his visit just days after China's Foreign Minister Wang Yi criticised jostling for regional influence, with Wang claiming that Pacific countries 'Are not the backyard' of any nation".

War wounds: Labor 'betrayal' undercuts mission to mark WWI Diggers' graves

The Australian - Page 1 & 2 : 23 April 2024 - Original article by Geoff Chambers, Jordan McCarthy - Portmac.News Summary

It is estimated that at least 12,000 of Australia's World War I veterans who died after the war are resting in unmarked graves nationwide.

The federal government has come under scrutiny for its lack of action regarding a pledge prior to the 2022 election to provide headstones for WWI veterans who are in unmarked graves in civilian cemeteries.

The government's first budget included $1.5m for a grants program; however, the Department of Veterans' Affairs has advised that just 42 graves had been recommended for grants under the first round of applications between April and August 2023.

Libs' Defence prescription to head off future conscription fight

The Australian - Page 1 & 2 : 23 April 2024 - Original article by Geoff Chambers - Portmac.News Summary

Opposition home affairs and cyber security spokesman James Paterson will tell the Robert Menzies Institute on today that urgent steps are needed to boost Australian Defence Force recruitment.

He will say that better pay and conditions and more flexiblity needed, so as to avoid a possible future fight on the issue of conscription.

The ADF is currently 4,400 people short of its authorised strength, while facing a separation rate of 10% at the same time.

Patterson will say the defence forces will face chronic shortages in coming decades if the current trend continues, with the Coalition's plan to reverse this trend to focus on what is needed to make 'Make military service compatible with modern life'.

ALP regains two-party preferred lead : ALP 52% cf. L-NP 48%

Market Research Update - Page Online : 23 April 2024 - Original article by Roy Morgan - Portmac.News Summary

In a week that saw Israeli strikes on Iran which had the potential to set off a wider war in the Middle East, two knife attacks in Sydney, and the judgment handed down against Bruce Lehrmann, the Labor Government has regained the lead with support up 3% to 52%

Labor leads the Coalition on 48% (down 3%) on a two-party preferred basis.

If a Federal Election were held now the ALP would be re-elected with a slim majority as they have now, the latest Roy Morgan survey shows.

Primary support for the ALP increased 0.5% to 30.5% but is still behind the Coalition on 35.5%, down 3%.

A look at the support by gender shows women's support for the Coalition dropped significantly this week - by nearly 4% to only 32% after Justice Michael Lee handed down his judgment in the Lehrmann case.

Men's support for the Coalition was down 2.5% to 39%.

Support for the Greens returned to, and marginally exceeded, its highs of two weeks ago, up 2.5% to 16% while One Nation was unchanged at 5.5%.

Support for Independents was unchanged at 7.5% and support for Other Parties was unchanged at 5%.

Economy, rates in 'a holding pattern'

The Australian - Page 15 : 23 April 2024 - Original article by Eli Greenblat - Portmac.News Summary

Deloitte Access Economics has claimed that the Australian economy is in a 'Holding pattern', while it does not expect the Reserve Bank to move on interest rates until November.

Deloitte states that inflation is beginning to recede, while it expects around 100,000 people will lose their jobs by the end of the year, lifting the unemployment rate to 4.6%.

It notes that the revamped stage three tax cuts will take effect in the second half of the year, boosting disposable income, but that the housing crisis remains a concern.

Social media platforms now 'ignore risk to reputation'

The Australian Financial Review - Page 6 : 23 April 2024 - Original article by Tess Bennett - Portmac.News Summary

Alice Dawkins contends that Australia's existing online safety laws have been based on the assumption that social media firms did not want to risk their corporate image by not complying with them.

However, the executive director of internet research and policy group Reset.Tech Australia says that is no longer the case.

She cited as an example X's refusal to comply with a directive from the eSafety Commissioner to remove footage of a Sydney bishop being stabbed while he was conducting a service that was being livestreamed.

The Federal Court issued an injunction late on Monday requiring 'X' and Meta to temporarily remove the footage from their platforms.

'Out of control ?' : Meta has Whitlam as our No.1 PM

The Australian - Page 4 : 23 April 2024 - Original article by Jared Lynch - Portmac.News Summary

Shadow communications minister David Coleman has criticised Meta Platforms after it released the latest version of its artificial intelligence tool.

When asked to rank Australia's best prime ministers, the Meta tool listed Gough Whitlam first.

Malcolm Turnbull was the only Liberal prime minister in the AI tool's list of the nation's top five leaders.

Coleman has accused Meta of either 'Deliberate bias or gross incompetence'.

Former Victorian Liberal Party president Michael Kroger says the results demonstrate a 'Strong left wing bias' at Meta, and show that technology companies should be regulated in the same way as conventional media OR perhapes the problem is that the truth, in this case, is just to painful for the Liberal's to bare !

Doxxing laws 'may empower trolls, protect incriminated politicians'

The Australian - Page 2 : 23 April 2024 - Original article by Rhiannon Down - Portmac.News Summary

University of Sydney constitutional law expert Anne Twomey says the federal government should be 'Cautious and considered' in legislating to make doxxing a criminal offence.

Professor Twomey contends that the proposed laws against doxxing could have unintended consequences, such as incentivising internet 'Trolls' to ramp up their online abuse because the legislation will protect their identity.

She adds that journalists and whistleblowers could also potentially be subject to the legislation if they publish text or WhatsApp messages of politicians that implicate them in a scandal.

Senators push for property tax reform

The Australian Financial Review - Page 8 : 23 April 2024 - Original article by Tom McIlroy - Portmac.News Summary

Crossbench senators Jacqui Lambie and David Pocock have asked the Parliamentary Budget Office to cost options for possible changes to negative gearing, with Lambie claiming negative gearing is part of Australia's housing affordability problem.

All the options that the PBO was asked to look at were 'grandfathered', so that existing property investors would be unaffected.

Along with support from the Greens, the federal government needs the help of Lambie and Pocock to pass legislation in the Senate if it is opposed by the Coalition, and their plan to curb negative gearing for investment properties could raise $6 billion a year for housing supply.

Chalmers firm on GST funds row with NSW

The Australian Financial Review - Page 5 : 23 April 2024 - Original article by Samantha Hutchinson - Portmac.News Summary

NSW Treasurer Daniel Mookhey has claimed that the state's 'Inequitable' GST allocation will cost it its remaining two AAA credit ratings and will be the biggest hit to its budget since COVID.

He contends NSW will have to reconsider funding joint agreements such as the National Disability Insurance Scheme because of the GST carve-up he claims will leave NSW short-changed by $11.9 billion over four years.

However, federal Treasurer Jim Chalmers has indicated he will not be swayed by Mookhey's threat to hold out on joint agreements, noting that all state budgets are under pressure.

Companies at risk of 'state-sponsored greenwashing'

The Australian Financial Review - Page 4 : 23 April 2024 - Original article by Hannah Wootton - Portmac.News Summary

Qantas, Ampol, National Australia Bank, Telstra and the Commonwealth Bank are among the major companies that are using the federal government's Climate Active carbon neutrality certification scheme, which aims to demonstrate their carbon neutrality credentials.

However, a Senate inquiry into greenwashing has heard that companies using the scheme may be at risk of 'State-sponsored greenwashing', due to the fact that the Australian Competition & Consumer Commission is yet to sign off on the scheme.

Food plan call to limit supply shocks

The Australian - Page 6 : 23 April 2024 - Original article by Charlie Peel - Portmac.News Summary

The Nat­ional Farmers Federation, AUSVEG and Independent Food Distributors Australia are among a number of food and agricultural organisations calling for the development of a national food plan.

The creation of a national food plan was a key recommendation of a recent federal inquiry, which concluded it could assist in stabilising food price fluctuations during supply chain disruptions.

A national food plan would also look at the national security implications of food, its production and distribution, access to food, food waste management and nutrition.

Aussies behind Trump's 'catch and kill' trial

The Australian Financial Review - Page 10 : 23 April 2024 - Original article by Matthew Cranston - Portmac.News Summary

Two Australians were working at the National Enquirer when it was involved in 'killing' the publication of stories alleging sex scandals involving Donald Trump.

With Trump now on trial for alleged falsification of hush money payments to porn star Stormy Daniels, both Lachlan Cartwright and Dylan Howard have already answered questions about the cover-up.

Meanwhile Howard, and possibly Cartwright, find themselves caught up in the trial; Cartwright claims that the National Enquirer was 'Weaponised' to help Trump win the 2016 presidential election.

'Can't rule out a further rate rise'

The Australian Financial Review - Page 29 : 23 April 2024 - Original article by Cecile Lefort - Portmac.News Summary

The consensus of economists polled by the Australian Financial Review is that the Reserve Bank will reduce the cash rate in November.

However, financial market pricing suggests that the central bank will leave official interest rates unchanged for the rest of the year.

Meanwhile, Ben Picton from Rabobank says another interest rate increase remains a possibility if inflation begins to accelerate.

CPI data for the March quarter will be released on Wednesday.

'Sell All banks' : Citi sounds big four alarm

The Australian Financial Review - Page 13 : 23 April 2024 - Original article by Lucas Baird - Portmac.News Summary

Citigroup analyst Brendan Sproules now has a 'Sell' recommendation on the shares of Australia's four major banks, after downgrading Westpac and the ANZ Bank.

Shares in the 'big four' have rallied in recent months, but Sproules contends that the banks' earnings are likely to take a hit when the Reserve Bank of Australia starts reducing the cash rate, as they will face political pressure to reduce their lending rates in line with the central bank.

Sally Tindall from RateCity agrees that the banks are likely to pass on at least the first interest rate cut in full.

She adds that the RBA could potentially leave the cash rate on hold until 2025.

Liebherr electric excavator reaches million ton milestone

Electrek - Page Online : 21 April 2024 - Original article by Jo Borris - Portmac.News Summary

The large Liebherr electric excavator that is operating at Fortescue's Christmas Creek iron ore mine in Western Australia achieved a major milestone earlier in April when it moved its one millionth tonne of dirt.

Fortescue has been very impressed with the Liebherr electric excavator, and aims to have two more commissioned by the end of April.

Fortescue CEO Dino Otranto says that around 95 million litres of diesel will be removed from its operations every year once its entire fleet is decarbonised, or more than a quarter of a million tonnes of carbon dioxide equivalent.

Pension fund pain for Woodside's Goyder

The Australian Financial Review - Page 13 : 23 April 2024 - Original article by Ben Potter, Hannah Wootton - Portmac.News Summary

Woodside Energy is to hold its AGM on Wednesday, at which a number of large US pension funds will vote against the re-election of Richard Goyder as its chairman, as will Aware Super.

It comes amid a battle between the oil and gas company and environmental activists over Woodside's climate strategy, with Aware chief investment officer Damian Graham saying that the strategy is too focused on offsets rather than abatement.

He said the decision to vote against Goyder was not taken lightly, and was based on the view that climate change represents one of the biggest financial risks to Aware's portfolio over the long term.

ASX bounces Back

The Australian Financial Review - Page 28 : 23 April 2024Original article by Joshua Peach - Portmac.News Summary

The Australian sharemarket posted a strong gain on Monday, with the S&P/ASX 200 adding 1.1% to close at 7,649.2 points.

South32 was up 5.6% at $3.37, while uranium miner Boss Energy advanced 3.7% to $4.76.

However, Woodside Energy shed 2.6% to end the session at $28.63 and The Star Entertainment Group was down 1.2% at $0.415.