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 Oct 26 till the end of the week.
This article updates throughout the week
$10m Loans, No Pre-Sales
Perth, Oct 27: Western Australian property developers can now access up to $10 million in development funding without pre-sales, after Australian Finance Group (ASX: AFG) added Perth-based RAC Finance to its commercial lending panel.
The arrangement, announced on 26 October, gives AFG brokers a new option for developers whose projects don’t fit traditional construction finance rules. Pre-sale requirements often make it harder for smaller developers to secure funding.
RAC Finance lends across single homes, villas, townhouses, apartments, mixed-use, industrial and select commercial developments, as well as land subdivisions, in metropolitan Perth and selected South West regions. It also accepts owner-builder applications, and says its WA-based team processes progress payments within 48 hours.
“Development finance is a specialised area of lending and every project is different,” said Mark Hewitt, AFG’s General Manager Industry and Partnerships. “Brokers need access to lenders that understand local market conditions.”
RAC Finance General Manager Michael Patino said the lender had supported local developers for more than 30 years.
RAC Finance joins a panel of more than 80 lenders and partners. AFG says one in every nine residential mortgages in Australia is arranged by one of its brokers.
Adobe, NVIDIA Speed Up Photoshop
Perth, Oct 27: Adobe has expanded its partnership with chipmaker NVIDIA, promising faster AI-powered editing in Photoshop, Premiere and Substance 3D.
Announced on 15 October, the deal optimises Adobe’s creative apps for NVIDIA’s new RTX Spark superchip, launched earlier this month. Adobe says users can expect up to twice the speed for AI processing, editing, colour and effects.
Photoshop has been rebuilt around GPU-accelerated compositing, making tools like Remove and on-canvas effects more responsive. In Premiere, features such as Enhance Speech and Object Mask also run faster.
Adobe is also using NVIDIA chips to speed up Frame.io, its cloud platform for video review. Early tests showed embedding generation about five times faster, meaning uploaded footage becomes searchable sooner.
The companies have also optimised Adobe Brand Concierge, a conversational AI tool for businesses, using NVIDIA’s open Nemotron models. That version will be available to enterprise customers later this year.
“Creative workflows are more multimodal than ever,” said Deepa Subramaniam, Adobe’s vice president of product marketing for creative professionals.
More updates are expected at Adobe MAX, running 10–12 November.
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