Latest updates on Key Economic Indicators:

Aussie $: $0.6590 USD (unchanged)

Iron (SGX): $126.75 USD (down $0.30 USD)

Oil (WTI): $76.43 USD (down $0.94 USD)

Gold: $1,819.00 USD (down $1.00 USD)

Copper (CME): $4.0255 (up $0.0545 USD)

Bit-coin: $22,020.14 (down 0.20%)

Dow Jones: 32,672.41 (down 184.05 pts)

All changes compared to 7am yesterday.

Ukraine War:

China's military minds freting over US missiles, Starlink:

China needs the capability to shoot down low-earth-orbit Starlink satellites and defend tanks and helicopters against shoulder-fired Javelin missiles, according to Chinese military researchers who are studying Russia's struggles in Ukraine in planning for possible conflict with U.S.-led forces in Asia.

A Reuters review of almost 100 articles in more than 20 defence journals reveals an effort across China's military-industrial complex to scrutinise the impact of U.S. weapons and technology that could be deployed against Chinese forces in a war over Taiwan.

While Chinese officials have avoided any openly critical comments about Moscow's actions or battlefield performance as they call for peace and dialogue, the publicly available journal articles are more candid in their assessments of Russian shortcomings.

Half a dozen papers by PLA researchers highlight Chinese concern at the role of Starlink in securing the communications of Ukraine's military amid Russian missile attacks on the country's power grid.

"The excellent performance of 'Starlink' satellites in this Russian-Ukrainian conflict will certainly prompt the U.S. and Western countries to use 'Starlink' extensively" in possible hostilities in Asia.

The conflict has also forged an apparent consensus among Chinese researchers that drone warfare merits greater investment.

"These unmanned aerial vehicles will serve as the 'door kicker' of future wars," noted one article in a tank warfare journal.

Iran Delivered Ammunition to Russia on Caspian Sea Cargo Ships:

Iran has supplied large quantities of bullets, rockets and mortar shells to Russia for use in Ukraine, Sky News reported Wednesday, citing a security source. 

The deliveries were reportedly made by two Russian-flagged cargo ships that traveled from Iran to the Russian port of Astrakhan on the Caspian Sea earlier this year.

The Iranian cargo, which Sky News said was transferred in January, likely included about 100 million bullets, 300,000 shells and 10,000 flak jackets and helmets.

Albanese to US for AUKUS meeting with Joe & Rishi:

Prime Minister Anthony Albanese may have been coy about the reason for his US visit, but it will take in a trilateral meeting with President Joe Biden and UK Prime Minister Rishi Sunak about the AUKUS defence partnership.

"I look forward to the continuing engagement that I have with the US administration," Mr Albanese told reporters in Perth prior to departing for India, without giving further details.

On Thursday morning a spokesperson for Mr Sunak confirmed he would visit the US to meet Mr Biden and Mr Albanese for talks on the AUKUS defence agreement.

The confirmation came after speculation in recent weeks about a joint announcement from the three AUKUS nations about the defence pact that would see Australia build nuclear-powered submarines. 

Lowe open to April pause

The Australian Financial Review - Page S1 & S2 : 9 March 2023 - Original article by Michael Read - Portmac.News Summary

Reserve Bank of Australia governor Philip Lowe says he has an "Open mind" regarding the outlook for interest rates at the central bank's board meeting in April.

Lowe has indicated that upcoming economic data will determine the RBA's stance on interest rates in April; data to be released ahead of the next board meeting includes jobs, inflation and retail trade.

Lowe has previously stated that further rate rises will be necessary to curb inflation, but he says the RBA will pause interest rate hikes in April if the economic data suggests that this is appropriate.

Frankly, 'It looks like a tax': Treasury advice

The Australian - Page 1 : 9 March 2023 - Original article by Simon Benson - Portmac.News Summary

The federal government's legislation to stop companies paying franking dividends out of capital raisings was referred to a Senate committee on Wednesday, one day after the bill was introduced to parliament.

The Treasury estimates that about 3.1 million retail investors and retirees now claim franking credits, and the cost to the budget was about $17bn in 2019-20.

Internal documents released under Freedom of Information laws show that the Treasury has noted that the government's crackdown on franking credits could be seen to be a tax increase and a winding back of the dividend imputation system.

Australia will 'Punch back' against Russian hackers

The Australian Financial Review - Page S3 : 9 March 2023 - Original article by Jessica Sier - Portmac.News Summary

Department of Home Affairs secretary Mike Pezzullo has told a business summit that the majority of hackers are based in Russia, and he has urged that nation to crack down on its cybercriminals.

Pezullo also said the federal government will take a more aggressive stance in countering the threat posed by Russian hackers, and called for increased legal protection for business executives and corporate cyber teams to share intelligence about hacking threats in online chat rooms.

Telstra's cyber chief Narelle Devine also emphasised the importance of sharing information about cyber threats.

Calls for 'Super baby bonus' to close pay gap

The Australian Financial Review - Page 3 : 9 March 2023 - Original article by Hannah Wootton - Portmac.News Summary

The Association of Superannuation Funds of Australia has urged the federal government to implement measures aimed at reducing the gender retirements savings gap.

ASFA's senior policy adviser Helena Gibson says there is strong public support for government action on the issue.

ASFA has proposed the introduction of super entitlements for parental leave pay and a $5,000 "Super baby bonus" for new parents.

Teal MP Zoe Daniel has also advocated paying super on parental leave, describing it as a "Significant step forward for women's equality".

Australia invests $4.29bn in renewable energy in December quarter

The Guardian Australia - Page Online : 9 March 2023 - Original article by Peter Hannam - Portmac.News Summary

Data from the Clean Energy Council shows that investment in large-scale renewable energy and storage projects in Australia rose by 17% year-on-year in 2022, to $6.2bn.

This includes some $4.29bn in the final quarter of the calendar year.

However, CEO Kane Thornton says investment in clean energy needs to gather pace if the nation is to achieve its 2030 renewable energy target of 82%

She has called for the Renewable Energy Target to be increased and extended beyond 2030.

Gas threat as import plant hit by delays

The Australian - Page 13 & 16 : 9 March 2023 - Original article by Giuseppe Tauriello - Portmac.News Summary

Viva Energy has advised that the Victorian government has requested additional information on its proposed LNG import terminal in Geelong.

This includes the project’s likely impact on the marine environment, air quality, noise and Aboriginal cultural heritage.

Viva has warned that the government's request for information is likely to further delay a final investment decision on the project, which is already a year behind schedule. This is likely to heighten concerns about a potential gas supply shortage on the east coast.

Broadcasters blast ad blackout

The Australian Financial Review - Page 17 : 9 March 2023 - Original article by Sam Buckingham-Jones - Portmac.News Summary

Communications Minister Michelle Rowland recently advised the nation's TV and radio networks that the federal government will expand the broadcasting blackout laws to include referendums.

This will prohibit broadcasters from showing paid advertisements for both the 'Yes' and 'No' campaigns in the final three days before the referendum on an Indigenous voice to parliament.

Industry groups Free TV Australia and Commercial Radio & Audio contend that the blackout rules are outdated, given that they do not apply to digital platforms.

News Corp in talks with AI firm over fees

The Australian Financial Review - Page 16 : 9 March 2023 - Original article by Mark Di Stefano - Portmac.News Summary

Artificial intelligence technology is emerging as a potential new threat to the revenue streams of media companies, which have secured content deals with digital platforms in recent years.

News Corporation's CEO Robert Thomson contends that AI companies should pay news publishers for the right to scan their aggregated content and incorporate it into their AI platforms.

Thomson added that News Corp is holding talks with an unnamed AI firm regarding financial compensation.

FMG native title fight sparks 'Endless street brawls'

The West Australian - Page Online : 9 March 2023 - Original article by Rebecca Le May - Portmac.News Summary

The majority of Fortescue Metals Group's Solomon iron ore hub in the Pilbara was developed on land to which the Yindjibarndi people were granted exclusive native title rights in 2017.

The Yindjibarndi contend that Fortescue's mining activities have divided their community, including the establishment of a rival to the Yindjibarndi Aboriginal Corporation that has secured lucrative contracts at the Solomon hub.

The YAC's compensation claim against Fortescue includes payment for "societal division", but the mining giant has contended that the Native Title Act does not provide for compensation to be paid for social disharmony.

Industry warns of home building & reno slump

The Australian Financial Review - Page 1 & 16 : 9 March 2023 - Original article by Simon Evans, Michael Bleby - Portmac.News Summary

Investment bank Macquarie Group has warned that residential construction activity is set to fall sharply as the existing pipeline of work is completed.

Macquarie analyst Peter Steyn says factors such as rising interest rates are impacting on front-end housing demand; he also expects a downturn home renovations sector in coming months as borrowers move from fixed-interest to variable rate home loans.

Steyn adds that there will be a flow-on effect for suppliers of building materials, such as CSR and Reece.

Housing affordability crumbles as mortgage repayments hit record level

The Age - Page Online : 9 March 2023 - Original article by Shane Wright - Portmac.News Summary

Research from Moody's Investors Service suggests that housing affordability in Australia has fallen to its lowest level since the global financial crisis in 2008.

The research shows that on average, dual-income households had to spent 30.9% of their income on monthly mortgage repayments in February; this compares with just 26.4% in May 2022, when the Reserve Bank started to increase the cash rate.

Sydney now boasts the lowest housing affordability among the nation's capital cities, with the average two-income household now spending 40.7% of their income on mortgage repayments.

ASX Powell's rates call sparks resources sell-off

The Australian Financial Review - Page 26 : 9 March 2023 - Original article by Alex Gluyas - Portmac.News Summary

The Australian sharemarket lost ground on 8 March, after Federal Reserve chairman Jerome Powell indicated that further US interest rate rises may be needed to curb inflation; the S&P/ASX 200 closed 56.9 points lower at 7,307.8 points.

Woodside Energy fell 7.2% to $34.90 and Super Retail Group slumped 3.5% to $12.97 after both stocks began trading without the benefit of a dividend.

However, Mesoblast was up 14.1 per cent at $1.05 and Qantas added 2.9% to end the session at $6.77.