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China Investment to Australia Drops for Third Year as Ties Fray – BNN

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(Bloomberg) — Chinese investment to Australia last year dropped for the third straight year, researchers reported Sunday, a further sign of the impact of souring economic and diplomatic ties.

Total direct Chinese investment to Australia fell by about half to A$2.5 billion ($1.8 billion) in 2019, from A$4.8 billion a year earlier, according to a statement from Australian National University, which collects and compiles data from the Treasury and other federal departments.

The three-year decline underscores the deterioration of a once mighty partnership between the world’s second-largest economy and its most reliant developed-nation trading partner. The statistics’ release comes after a tumultuous week for bilateral relations, which saw the last two Australian journalists based in China flee the country on fears of police detention.

Researchers cited negative Chinese investor sentiment toward the Australia economy and a shift of flows to emerging markets as reasons for the decline.

Australia-bound investment from China hit an all-time high in 2016 at A$15.8 billion, before the string of drops, ANU said. Since 2014 to last year, investment totaled A$49.3 billion, of which, the real estate sector received the most at about 24%, followed by the mining industry at 21%.

The Australian government has worked over the past few years to limit Chinese flows. In 2018, Canberra barred mobile technology maker Huawei Technologies Co. from joining the rollout of the nation’s 5G network. Last month, milk producer China Mengniu Dairy Co. dropped a plan to acquire Kirin Holdings Co.’s Australian beverage unit Lion Dairy & Drinks after being told the deal would likely be blocked.

China has also sought to cut economic exchanges including imposing limits on citizens traveling and studying in Australia, and targeting commodity imports such as beef, wine and barley.

©2020 Bloomberg L.P.

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City Launches Investment Map To Show Where Money Is Being Spent – windsoriteDOTca News

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The City of Windsor has launched a new investment map for residents to understand some of the many investments being made in the community each year.

The new tool shares information on projects ranging from neighbourhood sidewalk improvements to master plans that impact the entire city, and all of it is conveniently mapped out so users can see exactly where the investment is located.

“We take great pride in the number and variety of investments undertaken in our community each year,” said Windsor Mayor Drew Dilkens. “This web portal and the mapping you see are our latest efforts to provide information on many of those investments. And while these are by no means all of the investments laid out in the City’s annual capital budget or all of the assets funded, we hope you’ll find it an easy way to explore some of the great work being done in our community.”

Key investment categories targeted for the launch of the new mapping tool include parks, facilities, art, culture and sidewalks. With just a few clicks, users can search the entire city or zoom in on their neighbourhood. Filters can be applied to focus on specific categories, or the map can be viewed without filters to include the entire investment picture.

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Canada makes largest federal investment in Tecumseh's history to protect the Town from future flooding – Canada NewsWire

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TECUMSEH, ON, Oct. 26, 2020 /CNW/ – The safety and well-being of Canadians remains the Government of Canada’s top priority as the COVID-19 pandemic continues. The federal government is taking decisive action to support families, businesses and communities, and continues to look ahead to see what more can be done. Investing in infrastructure to create jobs and strengthen local economies is a key part of these initiatives.

In recent years, the communities of Tecumseh and Windsor experienced catastrophic storms that caused significant flood damage to local residences and businesses. Now more than ever, communities need help adapting to these intensifying weather events caused by climate change.

Today, Irek Kusmierczyk, Parliamentary Secretary to the Minister of Employment, Workforce Development and Disability Inclusion and Member of Parliament for Windsor−Tecumseh, on behalf of the Honourable Catherine McKenna, Minister of Infrastructure and Communities, and his Worship Gary McNamara, Mayor for the Town of Tecumseh, announced significant funding to reduce the impact of severe storms and flooding in the Town of Tecumseh.

The Government of Canada is investing $10.7 million in this flood resiliency project through the Disaster Mitigation and Adaptation Fund (DMAF). This is the single largest federal investment in Tecumseh’s history. The Town is also contributing more than $16 million to complete the project.

The work involves the construction of and improvements to four infrastructure assets: decommissioning of the St. Mark’s Pump Station; construction of a new consolidated Scully and St. Mark’s Pump Station; improvements to the PJ Cecile Pump Station and; improvements to the storm sewers at two locations to move storm water runoff to the consolidated Scully and St. Mark’s pump station.

This investment is just one of many regional flood-related projects recently funded by the Government of Canada, including a historic $32,090,691 investment in flood mitigation for Windsor in 2019.

Quotes

“On my very first day as MP for WindsorTecumseh, I met with Mayor McNamara to discuss key priorities for the Town of Tecumseh. With severe weather events on the rise, funding from the Disaster Mitigation and Adaptation Fund was outlined as a critical need. I am proud of the terrific collaboration between our federal government and the Town to deliver this important investment for the residents of Tecumseh. Once complete, the Tecumseh flood resiliency project will protect residences and businesses from the severe effects of flooding.”

Irek Kusmierczyk, Parliamentary Secretary to the Minister of Employment, Workforce Development and Disability Inclusion and Member of Parliament for Windsor−Tecumseh, on behalf of the Honourable Catherine McKenna, Minister of Infrastructure and Communities

“Flooding continues to be the most frequent and costly natural disaster in Canada. By investing in infrastructure, the Government of Canada is helping communities, like the Town of Tecumseh, increase their resiliency. The DMAF helps protect Canadians by reducing the risk of climate change and the long-term costs associated with replacing infrastructure following natural disasters.”

The Honourable Bill Blair, Minister of Public Safety and Emergency Preparedness

My Council colleagues and I have heard from residents that more needs to be done to protect them from flooding and flood mitigation is a vital priority for our Council. This funding will assist in building our town’s resiliency and keeping our community and its residents safe.”

 His Worship Gary McNamara, Mayor of the Town of Tecumseh

Quick facts

  • Windsor and Tecumseh have received over $50 Million to fund 16 projects related to flooding and wastewater.
  • The Disaster Mitigation and Adaptation Fund (DMAF) is a $2-billion, 10-year program to help communities build the infrastructure they need to better withstand natural hazards such as floods, wildfires, earthquakes and droughts.
  • To date, more than $1.7 billion has been announced through DMAF for 60 large-scale infrastructure projects that will help protect communities across the country from the threats of climate change.
  • DMAF is part of the federal government’s Investing in Canada plan, which is providing more than $180 billion over 12 years for public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and rural and northern communities.
  • To support Canadians and communities during the COVID-19 pandemic, a new stream has been added to the over $33-billion Investing in Canada Infrastructure Program to help fund pandemic-resilient infrastructure. Existing program streams have also been adapted to include more eligible project categories.
  • The COVID-19 Resilience Stream will help other orders of governments whose finances have been significantly impacted by the pandemic by increasing the federal cost share for public infrastructure projects.
  • The Canada Healthy Communities Initiative will provide up to $31 million in existing federal funding to support communities as they deploy innovative new ways to adapt spaces and services to respond to immediate and ongoing needs arising from COVID-19 over the next two years.

Associated links

Disaster Mitigation and Adaptation Fund
http://www.infrastructure.gc.ca/dmaf-faac/index-eng.html 

Disaster Mitigation and Adaptation Fund projects in Ontario
https://www.infrastructure.gc.ca/plan/prog-proj-on-eng.html#1.3   

Investing in COVID-19 Community Resilience
https://www.infrastructure.gc.ca/plan/covid-19-resilience-eng.html

Investing in Canada: Canada’s Long-Term Infrastructure Plan
http://www.infrastructure.gc.ca/plan/icp-publication-pic-eng.html 

Investing in Canada plan project map
http://www.infrastructure.gc.ca/gmap-gcarte/index-eng.html

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Web: Infrastructure Canada

SOURCE Infrastructure Canada

For further information: Contacts: Chantalle Aubertin, Press Secretary, Office of the Minister of Infrastructure and Communities, 613-949-1759, [email protected]; Lesley Reeves, Manager Strategic Initiatives, Town of Tecumseh, 519-735-2184 ext 150, [email protected]; Media Relations: Infrastructure Canada, 613-960-9251, Toll free: 1-877-250-7154, [email protected]

Related Links

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Insurtech investment keeps up, but not all will survive the pandemic – Insurance Business CA

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However, it’s also important to note that although this data points to the sector staying on track to raise potentially the second-highest amount of money in any given year, it was the top 10 insurtechs who have walked away with the majority of the capital spoils, leaving the rest of the community to fight over the leftover one-third of total funds invested.

Read more: Insurtech funding rebounds in Q2 – Willis Towers Watson

Meanwhile, another key trend to highlight is that while there are some insurtechs that are making headway by writing coverage and directly competing with traditional insurers, legacy insurance companies are still dominating the playing field, says one expert.

“I don’t see a behemoth insurtech out there that’s going to essentially end the insurance business as we know it, and take over massive amounts of market share,” said Sam Friedman (pictured), insurance research leader at the Deloitte Centre for Financial Services. “Where insurtech is having a huge impact is in helping insurers become better at what they do.”

Insurtechs have helped insurers to become more digital, improve the customer experience, access new sources of alternative data, and get better at advanced analytics and predictive modelling to help with policy administration and claims handling. This in turn has helped with fraud management and augmenting underwriting so that underwriters can focus on more cognitive work, including portfolio management, and working with brokers and clients to set terms and coverage, explained Friedman. Rather than serving as direct competition, the insurtech-insurer relationship has become a much more symbiotic one, he added.

Read more: MPI makes the switch to Duck Creek for core systems

Nonetheless, there has been a ripple-effect from the pandemic on this relationship, in that “it’s forced insurers to prioritize who they’re going after now and who they need to work with, which is anybody that can help them accelerate digitization,” said Friedman. “There may be some areas where they’re going to decide, ‘I’m not going to work on that this year, or maybe for another 18 months. I [instead] need help to get my claims adjusters virtual so that they can look at a damaged property, whether it’s through a drone or the policyholder’s camera phone.’”

As a result, there’s more emphasis being placed on insurtechs that are ready to go to market, and have products that have been proven and can be scaled, in order to help insurers get through the transition prompted by COVID-19.

Moreover, according to the Deloitte expert, “You could see more merger and acquisition activity in insurtech, both among insurtechs, because what you’re seeing is there’s a lot of duplication of solutions out there that may have to be consolidated, and also, because insurance companies are now looking for holistic solutions, rather than point solutions,” said Friedman.

Read more: COVID-19 crisis is an ‘inflection point’ for the insurance industry

While the market for insurtech investment is dynamic right now, there are some insurtechs that may get left on the sidelines because either they’re not far enough along to be of immediate value to the industry, they duplicate what too many of their peers are doing, or their products are not exactly what the industry needs during the pandemic.

“You’re going to have to wait and see, do they have enough money to sustain them for 12 to 18 months when they are not necessarily going to do a lot of business – that’s going to be the interesting thing to watch,” said Friedman.

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