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10 things to know this morning in Australia

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Good morning!

Novak Djokovic has been sent off. The world’s number one male tennis player left the country overnight, hours after the full Federal Court bench ruled unanimously that Immigration Minister Alex Hawke was within his rights to leave the country. personally veto the star’s visa. Djokovic is “extremely disappointed” but respects the court’s decision, he said in a declaration. The move ends official pressure on Djokovic’s visa and COVID-19 vaccination status. It also highlights the immense decision-making power vested in Australian immigration ministers.

Prime Minister Scott Morrison today said Djokovic was wrong to assume he had already received a vaccine exemption from youth federal government. The whole saga hinged on a disconnect between Djokovic, Tennis Australia, the Victorian government and Canberra over this supposed exemption. Full details will be released in the coming days, but Morrison was unequivocal on Monday morning. “We didn’t give him an exemption,” said the PM told Ben Fordham of 2GB. “The federal government did not grant him such an exemption.”

Saturday’s massive underwater volcano eruption damaged the coast of Tonga and generated waves felt in Sydney, but its full impact on the climate remains to be understood. The Hunga Tonga Hunga Ha’apai volcano spewed ash about 20 km into the air, the Sydney Morning Herald reports, leading researchers to suggest there could be significant implications in the months and years to come. Scientists think temperatures could drop if enough ash were forced into the atmosphere.

Businesses and workers across Australia are still struggling with isolation, loss of trade and closures caused by the Omicron variant. But new analysis suggests the economic devastation of the current wave won’t be as severe as the downturn caused by official lockdowns through 2020 and 2021. That’s one of the takeaways from a new Deloitte Access report economics, obtained by the Australian Financial Review, which forecasts economic growth of 4% until 2022.

A separate Deloitte report posits that Australia could save $380 billion over the next three decades changing its approach to disaster preparedness and recovery. Of taxpayers’ money spent on natural disasters, only 3% is currently spent on preparedness and mitigation. The report adds to the idea that active preparation is needed to avoid the worst impacts of climate change.

Australian sport and the crypto scene have strengthened their bond, thanks to a new partnership between Crypto.com and the AFL estimated at $75 million. The Australian reports that the deal will see Crypto.com become a major public sponsor of the AFLW contest. The deal was reportedly sweetened by the high percentage of Australian women getting into cryptocurrencies.

On the same note: trading platform eToro has launched a new metaverse-focused out-of-the-box wallet. The product focuses on tech titans involved in developing the next virtual realm, but differs from traditional ETFs by including crypto-assets. Another signal that crypto investing has completely cracked the mainstream scene.

No prizes for guessing what an alliterative local NSW experienced the strongest residential property price growth in 2021. It’s true: Land values ​​in Byron Bay have risen by more than 50% in the 12 months to July 2021, the NSW Valuer-General says in a new report. Kiama has seen similar price growth, reports the Australian Financial Review.

Speaking of crypto-heaven: the most zealous tech-savvy people report that all is well in Puerto Rico, which has eliminated capital gains tax for those moving to the island. Consider this sunny outlook on Puerto Rican life after it embraces these super accommodating tax breaks. An interesting twist for a region devastated by Hurricane Maria in 2017, whose hardest-hit residents are unlikely to cash in on the capital gains from seven-figure crypto investments.

Vegan fast food is having a moment in the UK and US, where big chains are hoping to woo the plant-based shopper. Limited-edition items for ‘Veganuary’ have been linked to longer-term changes, such as Starbucks dropping its surcharge for plant-based milk in the UK. Restaurants like KFC, Burger King and McDonald’s are also changing, raising hopes of further adjustments in the local market.

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