News In Brief

Welcome to our ‘News In Brief’ column in which we digest all the news releases for you in no more than five paragraphs.
Below are snippets of all the media releases we received from Dec 2 till the end of the week.
This article updates throughout the week.

Frugal Wealth Habits

Sydney, Dec 2: A new report by Finder reveals 84 per cent of Australian investors practice at least one frugal habit, such as buying discounted groceries, cooking at home, and switching household bills, to grow their wealth.
Finder’s Wealth Building Report 2024 highlights that investors prioritize financial independence over luxury, with many avoiding lifestyle inflation. Personal finance expert Sarah Megginson emphasized the importance of balancing savings with enjoying life.
Finder is hosting a free Wealth Building Masterclass on December 3, guiding Aussies through the report’s findings to stop money leaks and build wealth.
More details: https://www.finder.com.au/insights/wealth-building-masterclass.

Moana 2 Shatters Records

Sydney, Dec 2: The national box office saw a surge this weekend, up 50 per cent from last week, driven by Moana 2, Wicked, and Gladiator II. Disney’s Moana 2 debuted at number one, earning $12.3M, breaking multiple records, including the highest grossing Walt Disney Animation opening weekend in Australia. Globally, it has amassed $593.3M AUD.
Wicked claimed second place, adding $6.6M to reach $19.91M in total, while Gladiator II secured third with $2.68M, bringing its cume to $17.75M. The horror film Heretic, starring Hugh Grant, debuted in fourth with $849K, and Christmas movie Red One rounded out the top five with $485K, totaling $5.74M.
Other top 10 highlights include Venom: The Last Dance at $165K, Her Story at $158K, and Lee with $108K. Moana 2 also dominated in New Zealand, grossing $2.85M AUD.
Upcoming releases at HOYTS include festive films like The Best Christmas Pageant Ever and international hits such as Pushpa: The Rule – Part 2 and RM: Right People, Wrong Place. Special screenings include Andre Rieu’s Christmas Concert and NCT Dream Mystery Lab.

Elevate Hume Place Success

Sydney, Dec 2: Third.i Group and Phoenix Property Investors report a strong launch for Elevate Hume Place, selling 50 per cent of apartments.
Positioned above the new Crows Nest Metro Station, the development features 130 modern apartments with exceptional connectivity to Sydney’s CBD and Chatswood.
Designed by Woods Bagot, Elevate Hume Place has attracted local and international buyers, with over 6,000 inquiries and 400 appointments to date.
Interest is fueled by its transit-oriented design, urban convenience, and strong rental potential, particularly among buyers from Asia, young professionals, and investors.
A limited number of apartments remain available, priced between $970,000 and $12 million.

Elastic Launches Cloud Serverless

Sydney, Dec 3: Elastic (NYSE: ESTC) has announced the general availability of Elastic Cloud Serverless, powered by a re-architectured Elasticsearch built on the industry-first Search AI Lake.
Designed for real-time applications, it decouples compute from storage, enabling low-latency querying and seamless scalability for workloads like threat detection and retrieval-augmented generation (RAG).
The fully managed solution simplifies setup, pricing, and scaling for security, observability, and search, with resource-based and tiered volume pricing.
Elastic Cloud Serverless empowers developers to create AI-powered search applications quickly, supporting dense vectors and advanced search features critical for modern AI applications.

Skip Capital Backs Visibuild

Melbourne-based construction tech platform Visibuild has secured $6.6 million in its first funding round, led by Skip Capital. The investment will drive product development to improve efficiency, quality assurance, and sustainability in the construction industry.
Founded by software and construction experts, Visibuild has supported 700 projects and serves over 1,800 companies, including major clients like BESIX Watpac and Kapitol Group. Its tools have helped clients halve defect costs and reduce costly errors. With plans to expand globally, Visibuild is tackling inefficiencies and fostering accountability in the construction sector.

SYSPRO Acquires UK NexSys

SYSPRO has announced a definitive agreement to acquire NexSys, a UK-based digital manufacturing and distribution software specialist, from K3 Business Technology Group Plc.
The acquisition strengthens SYSPRO’s presence in the UK and Europe, expands its digital manufacturing suite, and enhances its offerings for midmarket manufacturing and distribution organizations.
This marks SYSPRO’s first major initiative under its new ownership by Advent, aligning with a growth-focused strategy.
The deal is expected to close in January, pending shareholder and regulatory approvals.

Qatar, JAL Expand Partnership

Qatar Airways Cargo and Japan Airlines (JALCARGO) have signed a Memorandum of Understanding (MoU) to strengthen their collaboration and enhance cargo services. This follows Japan Airlines’ launch of daily passenger flights from Tokyo to Doha earlier this year.
The MoU aims to integrate networks via Doha and Tokyo, offering expanded connectivity for customers and streamlined cargo transfers. Qatar Airways Cargo will introduce freighter services between its hub in Doha and Tokyo Narita next year, further boosting the partnership.
Over the past year, the airlines have managed 4,462 tonnes of cargo between their networks, with expectations for continued growth under the new agreement.

Dr Dhaliwal Joins Alternaleaf

Alternaleaf, Australia’s largest alternative healthcare clinic, has appointed Dr. Jagdeesh (Jag) Singh Dhaliwal as Medical Director to enhance clinical operations, safety, and patient care.
With over 30 years of medical leadership experience, Dr. Dhaliwal brings expertise from roles with AMA Victoria, HotDoc, and BestMed.
Launched in 2020, Alternaleaf continues to expand as a leader in telehealth services across Australia.

2025: Valuations Take Focus

New research by Natixis Investment Managers reveals that 77 per cent of institutional investors expect 2025 to be the year equity valuations realign with company fundamentals. The survey, which included 500 institutional investors managing US$28.3 trillion globally, highlights a growing preference for active management, with 73 per cent predicting its dominance in the changing market environment.
Key concerns for Australian investors include inflation (55 per cent), volatility (45 per cent), and valuations (36 per cent). Despite uncertainties, 73 per cent of Australian institutions are bullish on private equity for 2025, with many favouring alternative investments over the traditional 60:40 portfolio mix.
Additionally, 73 per cent believe China’s lower growth environment will be the new normal, while 86 per cent view Asia Ex-China as the top emerging market opportunity, with India poised to surpass China in investment appeal.
For the full report, visit Natixis Investment Managers.

Torres Strait Jetty Revamp

Royal HaskoningDHV has been commissioned to design and rebuild three jetties on Saibai, Dauan, and Boigu Islands as part of an $80 million marine infrastructure revitalisation project funded by the Australian and Queensland governments.
The upgrades will address safety and accessibility issues, introducing modern features like wider access ways and durable materials.
The project aims to enhance maritime logistics crucial for Torres Strait residents, who rely on water transport for essential goods, services, and fishing.
Scheduled to commence in May 2025, the initiative follows a condition assessment revealing the urgent need for restoration of aging and degraded infrastructure.

STEPN GO x adidas Debut

STEPN GO and adidas have launched their first-ever physical running shoes, the STEPN GO x adidas Ultraboost 5, marking a new phase in their partnership.
Following the success of their Genesis NFT Sneakers, this limited-edition collection of 1,200 co-branded shoes combines adidas’ cutting-edge performance with STEPN GO’s active lifestyle ethos.
Available exclusively on the MOOAR marketplace from December 13 to December 17, the shoes are reserved for STEPN and STEPN GO x adidas Genesis NFT holders, with additional raffles for broader participation.
Winners can claim their shoes from January 6 to January 22.
This collaboration bridges digital and physical experiences, showcasing innovation in fitness and the Web3 ecosystem.

Korean Air Wins Big

Korean Air has been named Best Airline for Onboard Service in Global Traveler’s 2024 GT Tested Reader Survey awards. Its SKYPASS loyalty program also won Best Frequent-Flyer Award Redemption, with high rankings in Best First-Class Seat Design, Best Airline Cuisine, and Best Flight Attendants categories.
The airline’s continued focus on passenger experience, including exceptional hospitality, gourmet dining, and extensive inflight entertainment, earned praise from industry leaders and travellers alike.
Korean Air also received multiple accolades in 2024, including APEX 5-star global airline status and Best Business and First Class in USA Today’s 10Best Readers’ Choice Awards.