Guardian AU
Australia eyes security pact with Fiji as pushback from Beijing undermines agreement with Vanuatu
Australia is close to finalizing a landmark security and economic pact with Fiji, with Foreign Minister Penny Wong traveling to the island nation this week to advance negotiations. The deal is a centerpiece of Canberra's strategy to counter Beijing's expanding footprint in the Pacific. However, Chinese pressure has already derailed a similar agreement with Vanuatu, underscoring the diplomatic obstacles Australia faces in the region.
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Albanese government abandons beleaguered inland rail project connecting NSW with Queensland
Australia's inland rail project has been dramatically scaled back, with the Albanese government scrapping the New South Wales-to-Queensland leg amid a cost blowout exceeding $45 billion. The line will now run only from Beveridge in Victoria to Parkes in NSW, far short of its original 1,700km Melbourne-to-Brisbane vision. The decision marks a significant retreat on one of the country's most ambitious freight infrastructure projects, leaving regional Queensland without the promised rail connection.
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Labor axes funding for $45b Inland Rail project linking Melbourne to Brisbane
The Albanese government has pulled the plug on the ambitious Inland Rail project, citing fears the freight rail link between Melbourne and Brisbane could balloon beyond its $45 billion price tag. The decision marks a significant reversal for one of Australia's most expensive infrastructure undertakings, which has faced repeated cost blowouts and construction challenges. The move raises fresh questions about how freight connectivity between the eastern seaboard's two largest cities will be addressed in the long term.
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Australia news live: Bullock says more rate hikes possible as Chalmers says Reserve Bank decision will make life tougher for Australians
Australia's Reserve Bank governor Michele Bullock has signaled further interest rate hikes remain on the table, even as Treasurer Jim Chalmers acknowledged the central bank's recent decision will increase financial pressure on Australian households. The warnings come amid broader economic uncertainty as the RBA continues its battle against inflation. Meanwhile, tragedy struck in northern New South Wales, where three people — including two marine rescue volunteers — died after responding to a stricken yacht at the Ballina bar.
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Sydney Morning Herald
Inland Rail’s final stages shelved after shock $45 billion price tag revealed
Australia's flagship Inland Rail project has been effectively mothballed after a revised cost estimate ballooned to $45 billion, prompting the Albanese government to shelve its final stages. The staggering figure represents a dramatic blow-out from earlier projections, with completion now unlikely before 2036 at the earliest. The decision raises serious questions about the viability of major infrastructure commitments and the government's appetite for long-term freight network investment.
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