Dec 14, 2017 Last Updated 4:28 PM, Dec 12, 2017

New Entry From the Editor :

Australian shopping empire Westfield sold to French property firm for $33 billion

Australian shopping empire Wes…

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ASX introduces blockchain technology into trade settlement system

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Australia’s annual economic growth rate rises to 2.8%

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Bunge Australia expands into Western Australia

AusBN – Bunge Limited (NYSE: BG) has started construction on its first Western Australian grain storage facility in Kukerin.

The facility will contain bunker sites, which will have the storage capacity for 200,000 tonnes of grain.

Bunge has also announced plans to construct a storage facility in Arthur River, which will have a 250,000 tonne capacity.

Construction has recently been completed at the company’s grain facility at Bunbury Port and seven shipments have been exported from the facility.

Bunge Australia General Manager Chris Aucote said: "It's going to be an increase over time and we're certainly looking to increase the number of cargoes we've done this year and hopefully look to increase that by 50 to 100% over the next 12 months.

"For us Western Australia is a very important part of what we're doing here in Australia."


Rahan Meristem introduces ‘clone’ bananas

AusBN – Isareli agricultural biotechnology company Rahan Meristem has announced plan to trial some of its tissue cultured banana varieties in Australia.

The company is also hoping to collaborate with the nation on the development of a banana variety that is resistant to the Panama disease.

Local Australian growers are excited for the opportunity to access the tissue cultured technology.

Once the company passes Australian quarantine it will establish two field trials in Australia’s major growing areas.

Scientific director Dr Eli Khayat said: “Then we will identify a laboratory for tissue culture and propagation of material.

“I am certain that our material will be helpful to growers in Australia.’’ 


Just Eat acquires Menulog for $687m

AusBN – Online delivery service Just Eat (LSE: JE) has purchased Menulog for £445 million (A$687 million) to aid with its entrance into the New Zealand and Australian markets.

Menulog claims to have the largest food delivery business in both countries with 5,500 restaurants and 1.4 million users.

YouGov and Euromonitor statistics have reported that Australia and New Zealand’s combined food delivery market is worth £1.6 billion.

Menulog CEO Dan Katz said: “I am very excited about the prospect of Menulog becoming part of Just Eat, which has been a real inspiration for us as we have grown in the Australian and New Zealand markets.

“This proposed acquisition will allow Menulog to benefit from Just Eat’s experience and know-how, particularly in digital marketing, and enhance our customer service model to drive further growth and efficiencies across the business.”


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