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Businesses typically rely on skilled migrants to fill up to half of the jobs available in the sector, but the COVID-19 shutdown has shut it down – ICT temporary work visas fell 50 percent last year compared to pre-pandemic levels – and the global race for tech talent is sending paychecks to sky. “We failed to keep up with demand,” says new ACS CEO Chris Vein Australian Financial Overview . “The domestic pipeline is not pumping enough technological talent. We need more than 60,000 new technology workers every year to meet the demand, but we only produce 10,000 technology graduates and postgraduates every year. “In theory, we would try to fill that gap with foreign talent, but we can’t and we may not be able to catch up for two, three or five years. Australia is competing with the US, Israel, every other country in the world for this talent.” ACS revealed that the federal government is struggling to find anything close to the 1900 cyber experts they need to support the...

The collapse came days after another Victorian builder, Snowdon Developments, went into voluntary administration leaving 550 homes unfinished. On Friday another major private developer, CBD Developments, blamed government lease relief measures and the COVID-19 pandemic for the collapse of six of its companies. Credit reporting agency Creditor Watch expects more bad news to come in the building sector. “We’ve seen the bankruptcy numbers start to creep up,” said chief executive Patrick Coghlan, though he noted the bankruptcy numbers were still below 2019 levels. After the COVID-inspired lull, Australian banks and the Tax Office have begun issuing final notices to struggling businesses, something that hasn’t been done since the pandemic hit. Many construction companies have a hard time paying their bills on time – a sure sign of trouble ahead. Creditor Watch data shows nearly 12 percent of construction companies are late paying bills 60 days. Coghlan says builders ...

Hyundai will soon raise prices across all N Line and N models – alongside the Venue and Santa Fe. Existing orders will not be price protected. 0 See 5 pictures Hyundai Australia will raise prices across a number of models from August 1, with the company’s N line of performance cars the hardest hit. Effective from next month, prices at 42 percent of Hyundai’s local range will rise due to a variety of factors related to rising material costs and inflationary pressures, without any upgrades related to standard equipment. The city-size i20 N hot hatch will receive the biggest increase, at $2000, with orders now closed for the model, after waiting times stretched between 12 and 24 months, and more than 1600 customers placing their names since September. Existing orders will not be protected against price increases, with the new prices valid for “all vehicles billed from 1 August 2022”. See 5 pictures “[Hyundai Motor Company Australia, or HMCA] has experienced ...