iSentia makes strong ASX debut

MEDIA monitor iSentia has made an impressive stock market debut, with its shares rising nearly 20 per cent above their issue price.

Shares in the company, which was previously known as Media Monitors, opened trading at $2.45, 41 cents above the issue price of $2.04.

The stock surged 39 cents, or 19.12 per cent, to close at $2.43.

iSentia was among the most traded stocks, with its market cap hitting $486 million.

iSentia dominates Australia's media monitoring market, providing information from various media sources to alert business and government clients to what is being said about their organisations, competitors and industry.

The company uses software and other systems to capture and interpret data from more than 5,500 mainstream media outlets, 55,000 online news sources and 3.4 million user-generated content sources on Facebook, Twitter and Weibol.

Clients include Microsoft, Nike, Coca-Cola and Samsung and most of the top 100 companies listed on the ASX.

It also operates in the Philippines, Malaysia, Indonesia, Thailand, Singapore and Vietnam and has an emerging presence China.

In its prospectus, iSentia said demand for media intelligence services in the Asia-Pacific region was expected to grow strongly over 2013-2016, especially in the online and social media segment.

It has forecast a net profit of $11.9 million in 2014, up from $7 million last year, and expects to start paying dividends next year.

Isentia issued 139 million shares to raise $283.5 million under an initial public offer.

The company has 200 million shares in total. It was floated by private equity outfit Quadrant Funds, which retains a 25 per cent stake.

Chief executive John Croll also holds a four per cent stake, which lifted in paper value by more than $3 million to $19.4 million based on iSentia's first day of trading.

iSentia shares are trading on a deferred settlement basis until Wednesday.

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Mega ports to be allowed near Barrier Reef

FIVE mega ports will be allowed along the Queensland coast, mainly in areas near the Great Barrier Reef.

Abbot Point, one of the world's biggest coal terminals, has been declared a port development priority area.

The declaration comes only six months after green groups lost a court battle to stop three million cubic metres of dredge spoil from being dumped, in the reef marine park boundaries.

As well as at Abbot Point, expansions will be allowed at other ports adjacent to the reef, including Gladstone, Hay Point, Mackay, and Townsville.

Brisbane has also been earmarked for major growth.

Queensland's Deputy Premier Jeff Seeney said dredging outside these priority port areas would be banned under the new strategy.

"Within and adjoining the Great Barrier Reef World Heritage Area, the Queensland government will prohibit dredging for the development of new, or the expansion of existing port facilities outside these port precincts, for the next decade," he said, adding the approach was consistent with UNESCO World Heritage Committee recommendations.

But Queensland Greens senator Larissa Waters said the new "faux restriction" on dredging was useless.

"It won't apply to any of the damaging dredging already applied for which is the very dredging that UNESCO was concerned about," she said, adding dredging would continue at 20 ports.

"This is atrocious news for the Great Barrier Reef."

The Australian Marine Conservation Society said coastline along the reef would be industrialised.

"The new policy won't stop a single port development or dredging proposal planned along the Queensland coast," campaigner Felicity Wishart said.

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Palmer writes Credlin an apology

Tony Abbott has accused Clive Palmer (pic) of not understanding his paid parental leave policy. Source: AAP

CLIVE Palmer has apologised to Prime Minister Tony Abbott's chief-of-staff for personally attacking her over the government's paid parental leave scheme.

The Palmer United Party leader used parliamentary debate on Monday to suggest Peta Credlin would receive a "massive benefit when she gets pregnant" on the scheme, and suggested she was somehow responsible for it.

Mr Palmer said he was unaware Ms Credlin had unsuccessful attempts to conceive through IVF and wrote a letter of apology on Tuesday morning.

"I did that well before this was a big controversy," he said.

"I told her it was a matter of great regret if there was any way I offended her personally."

Mr Palmer however didn't back down entirely and again criticised the policy for favouring successful women, who are capable of looking after themselves, over battling stay-at-home mums.

Earlier, Mr Abbott said Mr Palmer did not understand that his parental leave policy would give all women entitlements enjoyed by commonwealth public servants, including his chief-of-staff.

"So before he goes out and attacks people he really ought to understand the policy, and he doesn't," Mr Abbott told reporters in Canberra.

"I think that blokes around this place have learnt to underestimate women at their peril. I just make that general observation."

Amid the furore sparked by his comments, Mr Palmer skipped federal parliament on Wednesday and instead visited Queensland parliament.

He said his time was better spent meeting his Queensland parliamentary leader Alex Douglas and Fairfax constituents.

"I'm not allowed to talk in federal parliament, I can only ask a question once every two weeks."

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Farmers to finally get drought loans

DROUGHT-STRICKEN farmers are finally getting access to a $200 million loans package promised by the federal government three months ago.

But only farmers in parts of Queensland and NSW will be able to take advantage of the cheap finance.

Agriculture Minister Barnaby Joyce says applications for the drought concessional loan scheme are "ready to roll".

But he acknowledged it had taken longer than expected.

Prime Minister Tony Abbott announced the $320 million drought package after visiting drought-hit parts of the two states in February.

Mr Joyce said the scheme had been delayed by negotiations on who could access the loans and how the states would administer them.

Arrangements have been settled, including a new definition of drought that replaces exceptional circumstances.

Doubt remains about when drought-affected farmers in other states will be able access the loans pool.

Their share of the pool is $80 million. The NSW and Queensland pools each have $100 million.

The remaining $40 million of the package will go towards programs including water management, pest control and mental health services.

Opposition agriculture spokesman Joel Fitzgibbon accused Mr Joyce of disappointing farmers by suggesting help was on its way, and soon.

The real test for the government was when farmers get the promised help.

"The minister said soon ... whatever that means," Mr Fitzgibbon told reporters in Canberra on Wednesday.

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Budget-hit confidence stabilises

AFTER all the doom and gloom, there is finally a chink of economic light.

Consumer confidence has risen moderately in the past week, the first time since federal budget leaks started to emerge in April.

Retail spending has posted its longest run of positive monthly results in seven years; a strong economic growth result is expected from Wednesday's quarterly national accounts; and the Reserve Bank is showing no signs of raising the cash rate any time soon.

But that's where the good news ends.

Even though the weekly ANZ-Roy Morgan consumer confidence index rose 2.9 per cent, it was still down 12 per cent over a six-week period, which is a worry for retailers in coming months.

The index coincided with a Dun & Bradstreet survey showing 59 per cent of businesses are concerned about the impact of the budget on their operations.

At the same time, the latest Newspoll showed barely any improvement in support for the coalition after two weeks of trying to sell its first budget and that Labor would be swept to power if an election was held tomorrow.

But Treasurer Joe Hockey remains adamant the budget will make the economy stronger and more resilient.

"It is going to lead to the creation of more jobs," he told reporters in Canberra on Tuesday.

Consumer spending rose 0.2 per cent to $23.2 billion in April, the month before the budget.

Australian National Retailers Association chief executive Margy Osmond said the 12th consecutive rise in spending would have given retailers a nice surprise.

"[But] we would expect May and June to be the deal-breakers in retail sales momentum," she said in a statement.

The RBA left the cash rate at its all-time low of 2.5 per cent at its monthly board meeting.

"On present indications, the most prudent course is likely to be a period of stability in interest rates," governor Glenn Stevens said in his post-meeting statement.

Economic growth has been firmer since the start of the year, partly as a result of very strong increases in resource exports, he said.

Balance of payments data for the the March quarter has shown net exports - exports minus imports - will contribute a much stronger than expected 1.4 percentage points to growth in the quarter.

Some economists upgraded their March quarter gross domestic product forecasts ahead of Wednesday's national accounts, which could see annual growth above 3 per cent for the first time in about two years.

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Metgasco launches CSG court action

A MINING company which had its controversial coal seam gas drilling licence suspended by the NSW government is seeking to overturn the decision in court.

Energy Minister Anthony Roberts suspended Metgasco's licence at Bentley, in northern NSW, in May after an audit found the company had failed to properly consult the community about the operation to drill the Rosella well.

Mr Roberts also referred information about shareholdings and interests in Sydney-based Metgasco to the state's Independent Commission Against Corruption (ICAC).

The company has now filed for a judicial review in the Supreme Court, and plans to argue the minister's decision was "unlawful" because it wasn't authorised by legislation and denied it procedural fairness.

It also disputes the government's claim it did not property consult the local community.

As well, Metgasco is considering whether to claim for damages to compensate it for losses - estimated at about $3 million - arising from the suspension, the company said on Tuesday in a statement.

The filing comes a day after ICAC told Metgasco wouldn't be inquiring into its shareholder arrangements or interests.

The government's decision to suspend the licence came just days before thousands of protesters were expected to form a blockade outside the Bentley drill site and up to 800 police officers were called into to monitor their activity.

Mr Robert said the conditions of Metgasco's exploration licence required it to undertake "genuine and effective" community consultation.

"The government will continue to vigorously pursue titleholders to ensure they maintain high standards of community consultation," he said in a statement.

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Stranger grabs Sydney girl in 'bear hug'

A man tried to snatch a teenage girl by grabbing her in a bear hug in Sydney's west, police say. Source: AAP

A MAN tried to snatch a teenage girl by grabbing her in a bear hug in broad daylight in Sydney's southwest.

The 16-year-old girl was walking near Holsworthy railway station along Heathcote Road when the man approached her from behind about 10.30am (AEST) on Friday.

Police say the man put his arms around the girl in a bear hug before the teenager freed herself and ran.

The girl contacted a family member, who picked her up from the train station. She was not injured.

Police from Liverpool Local Area Command are investigating.

Detectives would like to speak to a man who they believe might be able to assist with inquiries.

He is described as being of Asian appearance, about 25 to 30 years old, with a medium build.

He was last seen wearing a tan-coloured camouflage hooded jumper with long, black sleeves, black shorts, and tan-coloured thongs.

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AHA says figures show lockouts not needed

Assaults at licensed premises in Kings Cross have fallen by 30.5 per cent, figures show. Source: AAP

A DRAMATIC fall in assaults in pubs and clubs in Kings Cross and the Sydney CBD in the past two years shows that early closings and lockouts were unnecessary, the hotels' association said.

Figures from the Bureau of Crime Statistics and Research released on Monday show assaults at licensed premises in Kings Cross have fallen by 30.5 per cent in the two years to March.

Assaults at venues in the Sydney CBD have fallen by 15.1 per cent over the same period, while across the NSW there was a 5.6 per cent fall in assaults committed in licensed premises.

Australian Hotels' Association director John Green said the figures pre-date the 1.30am lockouts and 3am last drinks introduced in the Sydney CBD and Kings Cross in late February.

The moves followed a backlash to a spate of one-punch assaults.

"These figures back up what we have been saying for some time, that assault rates in licensed premises are actually dropping despite the anecdotal claims of various interest groups," he said.

"Hoteliers in the Sydney area, indeed right across NSW, have been working hard with police and their local communities to improve safety at venues for years and we are seeing the results in this latest round of independent figures."

Police said the drop in assault figures in the Sydney CBD and Kings Cross were the result of good policing across NSW.

"Unfortunately, the work of the venues never seems to be acknowledged, with more and more blanket measures imposed on all venues instead of targeting the rogue operators," Mr Green said.

The figures also show that indecent assaults have increased by 12.1 per cent and domestic violence offences were up by 2.5 per cent which police have attributed to greater reporting of these crimes.

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Qld still on track for surplus

Queensland premier Campbell Newman isn't phased by a massive increase to the fiscal deficit. Source: AAP

QUEENSLAND is still on track for a surplus despite the budget deficit quadrupling to a projected $2.27 billion next financial year.

The mid-year budget update in December estimated the fiscal deficit would be $664 million for 2014/15, but a $600 million write down in coal royalties has worsened the bottom lime.

So too has a lag in natural disaster relief repayments from the Commonwealth.

Premier Campbell Newman doesn't see the loss as a budget deterioration, rather he insists it's an accounting problem.

"It's a timing issue," he said.

Two years of job and service cuts have given enough of a buffer to sustain the hit, with the state still on track for a surplus in 2015/16, as promised.

"It will be the first time in over a decade that Queensland taxpayers won't have to borrow money," Mr Newman said.

On Tuesday, the Newman government will hand down its third and final budget before next year's election.

It has all but confirmed it will sell assets, instead of increasing taxes and reducing services, to help pay down $80 billion debt and build new infrastructure.

Two ports could be leased and two electricity generators and the commercial parts of Sunwater sold.

"The only way we can build the new infrastructure is through cutting front line services, putting up taxes and charges, or asset sales," Mr Newman said.

On Sunday, it was announced that $6.5 million had been set aside in the budget to hire 70 child safety officers.

Another $25 million will be spent on child safety initiatives, such as more referral services, support for families to care for children at home instead of out-of-home care, and improved support for indigenous families.

Child Safety Minister Tracy Davis says $406 million will be spent over five years, to allow an overhaul of the child protection system.

The funding boost is in response to the Queensland Child Protection Commission of Inquiry and the final report by Commissioner Tim Carmody QC.

He recommended keeping families together, with more prevention and early intervention services.

"Parents should be able to care for their own children at home safely, with early intervention services and support easily accessible for those families who need it," Ms Davis said.

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Aust pledges $100m for polio fight

Australia has pledged 100 million dollars to go towards eradicating polio in northern Africa. Source: AAP

AUSTRALIA has pledged $100 million to help eradicate polio for good.

The funds will be spread over five years and will go towards making countries in northern Africa and the Middle East - where outbreaks have been reported - polio-free.

It will also help Afghanistan, Pakistan and Nigeria, where the disease is endemic.

About $20 million will be provided over the next year to the Global Polio Eradication Initiative for immunisations to fight the disease's re-emergence.

Announcing the pledge on Sunday, Foreign minister Julie Bishop said Australia is committed to helping finish the job of eradicating polio.

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