Global Scans · Australia · Weekly Summary

WHAT'S NEXT?: Australia will no longer be known for being as dependant on the export of natural resources over the next half century as in 2012. The need for new infrastructure to meet the strong population and economic growth of Australia will continue to be a priority for the medium term. There's no doubt the aftermath of China's credit boom poses a much bigger economic threat to Australia than Britain's withdrawal from the European Union. The Growth rate for Australia is expected to be stronger, although still below the long-term trend.

• [New] The Renewable Energy Target aims to source a significant portion of electricity from renewables by 2030, incentivizing both utility-scale and distributed energy projects. / Australia Trader
• [New] The block on additional funding for wind and solar farms follows warnings from analysts including Rystad Energy and the Grattan Institute that Australia will fall short of its 2030 target as projects are mired in delays caused by investor jitters, planning disputes and construction cost blowouts. The Sydney Morning Herald
• [New] No extra money will be spent on the Albanese government's ambitious rollout of renewables across the electricity grid in 2027, in an attempt to claw back savings in the next federal budget, even as Australia falls short of its target to reach 82% green energy by 2030. The Sydney Morning Herald
• [New] A large bank in Australia identified 2,000 mule accounts with a 1:1 genuine-to-fraud ratio in its first year of deploying BioCatch's Mule Account Detection solution, which evaluates threats in real time, notifying financial institutions of mule risk before criminals can move any illicit funds. BioCatch
• [New] In 2026, the Australian federal government will spend billions on a scheme that makes it cheaper for miners and other industries to use diesel and petrol. TrueNorth Weekday Independent News Update
• [New] Following in the footsteps of Australia, Indonesia will be the latest country to limit social media usage for children under 16. Engadget
• [New] National house prices are expected to rise 7.7% in 2026, with unit values projected to increase 7.1%. / Australia LinkedIn
• [New] The Australian sharemarket fell sharply on Tuesday from a record high as the escalating conflict in the Middle East intensified risk-off sentiment among investors as rising oil prices reignited inflation fears. Australian Financial Review
• [New] Australia supports action to prevent Iran from obtaining a nuclear weapon and to prevent Iran from continuing to threaten international peace and security. The Guardian
• [New] Australia is reassessing its trade position with the United States after President Donald Trump announced plans to impose a new 15% tariff on all imports, a move that could directly affect Australian exporters and test the resilience of a long-standing free trade partnership. alcircle
• [New] The Insurance Council of Australia has set out a series of proposals on insurance taxation, climate and cyber resilience, small business risk education, and workers' compensation in submissions to the federal inquiry into small business insurance. Insurance Business
• [New] Australia's fire agencies advise there is an increased risk of fire for much of Victoria, parts of south-eastern South Australia, parts of southern, central and eastern New South Wales and parts of far south-western Western Australia. The Bureau of Meteorology
• [New] AI augmentation is expected to be high in significant industry sectors of the Australian economy. Australia PI
• [New] Syngenta has scanned its Australian and global R&D, digital and commercial pipeline to identify three mega-trends which will shape Australian agriculture in 2026 and beyond. Country News
• [New] Sea surface temperatures for March to May are forecast to be warmer than average across much of the globe, including around parts of Australia. Mirage News
• [New] Rather than debating whether AI will replace jobs, a smarter strategy is to back specialised robots for tasks where Australia has an edge and clear application scenarios: mining, agriculture, aged care and remote operations. Mirage News
• [New] Australia can reduce risk by diversifying suppliers and building more local capability in key parts and services. Mirage News
• [New] An Australian-made hypersonic aircraft successfully completed its first flight from a NASA facility in the US, reaching five times the speed of sound in a test that scientists say will help forge the future of air travel. The Age
• [New] The Australian Government's goal is to double giving by 2030, recognising that despite being one of the world's wealthiest nations, Australians gave $13.4 billion to charity in the 2022 financial year, representing just 0.81% of GDP. Mirage News
• [New] Carbon sequestration presents an opportunity for farmers to earn billions in revenue, provide on-farm diversification, and create a lower-cost transition pathway for the Australian economy. Mirage News
• [New] Airlines segment RASK grew 6.4% year-over-year in the first half of 2026, surpassing guidance of 3-5% on stronger-than-expected leisure demand and commercial transformation. / Australia usfunds
• [New] AUSTRALIA: A stalled front will continue to provide beneficial rainfall to cotton and sorghum in the fill stage across southeast Australia into early next week. DTN Progressive Farmer
• [New] With a persistent tropical low over central Australia, extensive flood watches in force, and a Coral Sea low with cyclone potential, insurers and reinsurers are preparing for another active period of natural peril exposure. Insurance Business

Last updated: 13 March 2026