Australia on edge after close election – Nikkei Asian Review

MELBOURNE and SYDNEY — Australians were closely watching for results of their national election on Saturday night. Counting in the eastern states suggested a swing toward the opposition Labor Party after polls closed at 6 p.m. Eastern Standard Time. But as voting continued in the country’s west, results remained unclear, raising the prospect of a hung parliament in which no party would have an absolute majority. By 11:45 p.m. Sydney time, Prime Minister Malcolm Turnbull had not arrived at a governing party post-election event held at a posh Sydney hotel. Former Liberal Party Prime Minister John Howard spoke to media at the event, saying he was disappointed at seat losses in the election, but said “it is for the prime minister to speak on behalf of the coalition” regarding the overall election outcome. For much of the protracted, 55-day election campaign, Turnbull’s Liberal-National party coalition — which stormed to power at the 2013 election — was tipped to enjoy a narrow victory. But a late surge of support for Labor in opinion polls in the final days gave opposition leader Bill Shorten, a former trade union boss, reason to be optimistic.

Tight Australia poll may give minnows balance of power – Nikkei Asian Review

SYDNEY – On the eve of voting Australia’s July 2 national elections looks set to produce a hung parliament, raising the prospect of a raft of smaller parties and independents winning seats, and precipitating lengthy horse-trading before a government can be formed. By June 30, almost 2.5 million people had taken part in the early voting system set up for people unable to vote on July 2. One of those early voters, David Le, a 34-year-old banker, said that “in a time when the country is stable but the main political parties are not, people are going to look for alternatives.” “In common with much of the rest of the western world, there is a general skepticism about the ethics and morality of politics, and in Australia in particular the frequent deposing of prime ministers,” said John Warhurst. “What we are seeing in the opinion polls is increased votes for the minor parties, but often that’s used to cast a protest,” Albanese, told the Nikkei Asian Review. But Albanese, the shadow minister for infrastructure, transport, cities and tourism, conceded that possible gains for smaller parties remained “one of the great unknowns” of the July 2 election. He would not be drawn on whether a strong showing for the Greens and other independents could help Labor form a coalition. “We’re aiming to govern in our own right, 76 seats, that’s the aim.” Asked if he thought smaller parties would fare as well as opinion polls suggest, Prime Minister Malcolm Turnbull said: “Tomorrow the Australian people will tell us emphatically and decisively.”

Brexit could affect result of Australian election – Nikkei Asian Review

SYDNEY — Most of Australia’s politicians believe that Britain’s June 23 vote to leave the European Union will have little direct impact on Australia’s resource-rich economy, but that does not mean Brexit is being ignored, less than a week before what looks set to be closely-fought national elections. Prime Minister Malcolm Turnbull made a clear effort to play down any potential fallout from the Brexit controversy on Australia’s election and the country’s ties with the U.K. Speaking immediately after the U.K. referendum result, he said the U.K.’s departure from the EU would “have little direct economic impact in the short term as 3% of our trade is with the U.K. and our financial system is not reliant upon the pound sterling. What we see, though, is some short-term volatility on our share market and in the currency market.” Speaking in Sydney on June 27, shadow treasurer Chris Bowen of the opposition Australian Labor Party said that although Brexit could see sharp swings in global financial markets, the consequences would be for the short term and relatively mild. “I would regard the impact of Britain leaving the EU as much less intensive [than] the events of 2008,” Bowen said, referring to the global financial crisis.

Dili draws a line in the sand over sea boundaries – Nikkei Asian Review

SINGAPORE – East Timor, also called the Democratic Republic of Timor-Leste, wants to delineate maritime boundaries in the Timor Sea with its neighbors Indonesia and Australia in a way that Dili believes could be worth up to $40 billion in oil and gas revenues. Frustrated at perceived stonewalling by Australia, the Timorese government initiated “compulsory conciliation” on April 11 under the United Nations Convention on the Law of the Sea — a move that could lead to the establishment of a commission to report on the boundary issue to the U.N. Secretary General. That document could in turn be used as a basis for any future boundary negotiations. The dispute is becoming increasingly heated on both sides. In March, around 1,000 Timorese protested outside the Australian embassy in Dili at Canberra’s perceived intransigence.”The government and the people now consider that the establishment of permanent maritime boundaries is a national priority,” Timorese Prime Minister Rui de Araujo told a conference on the issue in Dili on May 19. Australia’s Department of Foreign Affairs and Trade told the Nikkei Asian Review that “the Australian Government is disappointed that Timor-Leste has decided to initiate compulsory conciliation over maritime boundaries. Australia has repeatedly made clear to Timor-Leste our preference for a full and frank discussion of all issues in the bilateral relationship.” Citing a past agreement between the two countries to shelve the boundary issue, DFAT added that “both countries agreed to a moratorium on boundary negotiations to allow joint development of the resources. We also agreed not to pursue any proceedings relating to maritime boundaries — this includes compulsory conciliation.”

What next in the search for MH370? – Monocle Radio

KUALA LUMPUR – The search for missing Malaysia Airlines flight 370 is due to wind up at the end of July, with more than 105,000 km sq of the 120,000 km sq. search area covered. Will the Australian, Chinese and Malaysian governments agree to extend the search if the aircraft is not recovered?

Looking ahead to Brazil – The Edge Review

YANGON – While no Asian country is likely to match South Korea’s run to the semi-finals on home soil in 2002, Japan and South Korea have a good chance at repeating their 2010 achievements by qualifying for the knockout rounds in the 2014 World Cup. For Iran and Australia, Asia’s other contenders, escaping the initial pool stages looks less likely, with the Australians drawn in an inescapable-looking cliff-face group.