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Articles by Peter Wilmoth
I’ve been traveling to Bali for 40 years. This is how it’s changed for the better and worse
Writer Peter Wilmoth has been heading to Bali for over 40 years. In that time, he’s seen Seminyak go from outpost to overtouristed, and watched the last rice paddies in towns disappear. It’s a warm May evening in 1985 and I’m reading a book outside my losmen (a traditional guesthouse), shared with my friend Matt, no pool, USD$3 per night in Kuta, southern Bali. Clinging to the wall behind me is a gecko in full song.
Collaborative conservation: The story of Ned's Forest
This is a story of the crucial role a teenager played in saving a precious parcel of remnant coastal bushland from development, the power of collaboration and the different skills and experience that helped it happen. This story was first published in Inspiring Stories of Giving Vol 2 in August 2024. In 2022, then 15-year-old Ned McNaughton, a keen nature photographer, took his camera to the border of a 69-acre large parcel of land in Meringo on the NSW south coast, a few kilometres from his home.
A New Approach: How philanthropy and creativity are working together to turn Australia into a ‘cultural powerhouse’
Fri, 26 Apr 2024 Estimated reading times: 4 minutes Australia can become a powerhouse where arts and culture is a part of the day-to-day lives of Australians. A consortium of like-minded philanthropic bodies are working together to achieve exactly that. The organisation driving this effort is Australia’s leading arts and culture think tank, A New Approach (ANA). This story was first published in the hardcopy edition of Inspiring Stories of Giving volume 1 in October 2023.
Air Niugini CEOs reveal how Papua New Guinea's national airline responded to the COVID-19 crisis
Air Niugini CEOs past and present reflect on the trials and tribulations of Papua New Guinea’s national airline, during the COVID-19 pandemic and how it has prevailed since. Peter Wilmoth reports. When news began spreading in the first weeks of 2020 of a respiratory virus racing across the world, no-one could know the impact it would have. Soon to be named COVID 19, the once-in-a-hundred-year event shook the world, hitting airlines and associated businesses around the world first, and hard.
Virus-fighting scientists recognised with Eureka Prize nomination
Professors Antonio Tricoli and David Nisbet have been nominated for the Australian Museum's prestigious Eureka Prize science awards in recognition of their research into how bacteria and viruses contaminate surfaces. As Antibiotic-resistant bacteria and new virus strains become more prevalent, so current disinfection and biosecurity strategies are becoming less effective at combating them. The COVID-19 pandemic highlighted the urgent need to develop new ways of preventing the spread of pathogens.
For graduates, imposter feelings are part of the journey
Imposter Syndrome was first identified and researched in the 1970s by two female American psychologists, Dr Pauline Rose Clance and Dr Suzanne Imes. Although not a diagnosable mental health disorder, Clance and Imes characterised Imposter Syndrome as an “internal experience of intellectual phoniness” manifesting as feelings of anxiety about potentially being exposed as a fraud.
Snow doubt about it, Thredbo has exceptional runs
It’s early evening at Thredbo. My quads and calves are burning from a day on the mountain. I stand with my glass of wine as the open fire crackles away. Someone is having a gentle pass at some early Neil Young on the guitar. I’m looking out across the valley as evening falls and the lights are coming on in the chalets. They’re always telling us to live in the moment, so I might choose to live in this one. So how did I get to this moment? It’s firmly in the you-don’t-know-what-you’re-missing category.
RBA delivers sombre message to mortgage holders
The RBA this week delivered sombre news to anyone hoping for a pause in the interest rate tightening cycle this year. With its February meeting decision to increase the cash rate by another 0.25 per cent, to 3.35 per cent, the Reserve Bank has picked up where it left off last year. It also sent a clear message in the accompanying statement that its focus is absolutely on inflation, and that it expects to raise rates further in the months ahead.
More Australians are treating others badly online – and admitting it!
Digital businesses have a clear obligation to protect their customers but, as we mark this 20th Safer Internet Day, I’m also calling on individuals to play a role in creating a better, more respectful online world. eSafety has published new research that reveals one in six Australians aged 18 to 65 years have treated someone else badly online in the last 12 months. That’s about 3 million people, a 30 per cent jump compared to 2019.
Surge in overseas arrivals will help RBA in inflation battle
The labour supply boost will also translate to higher net overseas migration levels. To be officially counted as a “migrant”, an arrival has to reside in Australia for at least 12 of the past 16 consecutive months. In our view, net overseas migration will be at least 100,000 higher than the current Federal Budget forecast of 235,000 – this would also amount to an historic high.
SCAM SPOT: Beware bank impersonators
With a growing number of scammers impersonating large financial institutions, it’s important to consider whether the voice on the other end of the phone is there to help you, or scam you. In a world where personal information is getting less and less personal, it can seem quite normal to get a call from a seemingly trusted bank and have your personal details recited to you. But here’s where it can go wrong.
Getting body language right on video calls
Another critical difference is that a video call is two dimensional, which can distort appearances. “When we're face-to-face we have three dimensions – we can move forwards, backwards or sideways,” explains Mahler. “On a video call, we should only ever move sideways. Leaning forward does not convey interest: it comes across as aggressive or insecure.
BILL’S BITES: Australia to dodge recession, despite headwinds
Persistent high inflation means the RBA will need to keep lifting interest rates in the first half of 2023. That will add to pressure on households, but the economy should be able to avoid a recession thanks to the strong savings buffers people built up over the pandemic. The December quarter inflation report will have come as a shock to the RBA, almost guaranteeing another 25 basis point rate increase in February.
FX BEAT: Aussie dollar well set for gains in 2023
At the same time, inflation at home is running at its strongest annual pace since 1990, according to the latest official data, giving the RBA little scope to pause its series of rate increases. Higher rates are generally bullish for a currency because they increase the yields investors receive for holding assets in that currency.
Cryptocurrencies: Miracle or Mirage?
This boom and bust cycle in crypto, like those before it, has many elements of a financial bubble driven by investor mania and irrationality. The latest downturn has understandably led people to question the viability of the entire crypto space. But there are some key areas where innovation may continue. One that stands out is Central Bank Digital Currencies (CBDCs). As the name implies, these would be cryptocurrencies issued directly by central banks.
Meet the former inmate changing young lives through fitness
At the age of 21, Joe Kwon’s life was upended when he was sentenced to 13 years in prison. Growing up in a community where gang culture, violence and substance abuse were endemic, Joe’s fate wasn’t unusual. Lacking education and family support, Joe had been directionless, but his incarceration proved to be a pivotal moment in his young life. “I ended up meeting a mentor in jail who helped me change my perception and changed my life,” Joe says.
SCAM SPOT: High yield investments or fool's gold?
High returns, low risk – that's the dream for most investors. And in order to achieve it, many people scour the internet in search of that golden investment. But among the hundreds of opportunities served up, there can be traps lying in wait. Unfortunately, a staggering number of those seemingly legitimate opportunities are scams. In fact, investment scams are the biggest cause of scam loss in the country – representing half of the money lost to scams by Australians.
Why IR reforms won’t knock the RBA off course
Early signs suggest that the government’s updated industrial relations framework won’t put any undue upward pressure on inflation, with the full effects likely to take time to feed through. By opening up greater scope for bargaining between employers and their workers – for example, making it easier to re-negotiate expired enterprise agreements (EBAs) - there’s no doubt that the changes could lead to some upside in wages growth, in line with the government’s objective to “get wages moving again”.
Westpac looks to give business customers an AI edge
Westpac is partnering with a Sydney-based tech company to deploy artificial intelligence that will simplify and accelerate its business lending services. Rich Data Co.’s technology will give bankers rapid access to more detailed data, helping them to make quicker decisions on whether a customer is eligible for different types of products.
BILL’S BITES: Sentiment picks up on rate relief
Overall, sentiment remains in deeply pessimistic territory and we have to go back to the deep recession of the early 1990s to see a run of numbers that are below the current series. Still, there are signs that consumers can see some light at the end of tunnel. Confidence among mortgage holders rose by 10.7 per cent and the proportion of respondents who expect rates to go up by more than 1 per cent in the next 12 months has fallen from 60 per cent to 48 per cent.
The joy of six: picking the perfect size team
Renowned anthropologist Robin Dunbar believes that 150 is the maximum number of social connections that a human can actively maintain. The theory is known worldwide as the Dunbar Number. Organisations which strive to go beyond this may see diminishing returns. Global clothing manufacturer Gore-Tex adheres to Dunbar’s theory: it breaks off a division as soon as it reaches 150 people.
Energy plan’s dampening effect on prices may not last
The government’s energy plan is likely to put some downward pressure on inflation in the short to medium term, but its long-term impact on prices is less clear. The Energy Price Relief Plan, passed in Federal Parliament last week, aims to curb soaring power costs for households and businesses, after the October budget forecast prices to jump by 30 per cent in 2023-24.
SCAM SPOT: Small deeds, big losses
In the online world, the products or services that perform best tend to be those with the most customer reviews, the most ‘likes’, or those endorsed by social media influencers. So, it’s not surprising that the need for a product to appear popular has spawned a thriving industry of fake product reviews and endorsements.
Meet the “deadly” team banking remote Australia
Kyah Rahutai-Warren didn’t know what to expect when she was invited to visit Maningrida, a community of fewer than 2000 people, 500 kilometres east of Darwin, in the heart of Northern Territory’s Arnhem Land. “I’ve never been to a remote community,” says the Adelaide-based banker who works in a specialist call centre team dedicated to assisting Aboriginal and Torres Strait Islander customers of Westpac.
Deda to champion diversity in economics in new role
Deda and Murphy take the reins of the ABE committee from outgoing chair Stephen Walters, chief economist of the Business Council of Australia. He finished a five-year stint leading the influential group, whose life members include some of Australia’s most renowned economists such as Bill Evans, Janet Torney, Rob Henderson, Stephen Halmarick, Ross Gittins, Ken Henry and Tom Ford. “People have to see realistic role models in the profession,” says Murphy.
McFarlane: ‘Efficiency up, best yet to come’
In addition to significant cost reduction, the plan has seen the bank exit non-core businesses, undertake comprehensive risk reduction and product and process simplification.
BILL’S BITES: Sentiment still gloomy, despite green shoots
There was an 11.3 per cent improvement in confidence among mortgage borrowers, although it's coming off very low levels. The proportion of people expecting rates to go up by 1 per cent or more was 49 per cent, down from 73 per cent in July. And people are also feeling better about the outlook for their finances over the next twelve months, with that sub-index rising by 6.9 per cent.
Big data helping Aussies to Olympic fast lane
Fast forward to today, she has real-time data at her fingertips, drawn from Swimming Australia’s cloud-based data lake, a centralised repository which pulls and analyses statistics from a wide range of sources.
Tourism surge is driving Fiji’s economic revival
Australians are leading the charge to enjoy Fiji’s tropical coastline and famously laid-back vibe, accounting for more than half of all arrivals. Tourists from other key markets including New Zealand and the United States are also starting to return in greater numbers. And guests are staying longer - more than four nights on average - Shameem said, giving them more time to spend on food and drink, leisure activities and excursions. However, the pick-up has brought with it challenges.
RBA cash rate to hit 3.35pc, say new Westpac forecasts
Westpac economists have revised up their forecast for the high point of official interest rates to 3.35 per cent, from 2.6 per cent previously, on a view that the Reserve Bank of Australia will err on the side of caution in acting to contain inflation expectations. “Inflation outcomes and inflation expectation concerns will be the dominant motivating forces for policy,” Bill Evans, Westpac’s chief economist, said in a report.
RBA not done yet, inflation report holds key
Westpac Economics expects the Reserve Bank of Australia to deliver a further 50 basis point rate increase in August, with upcoming inflation data likely to be key to how much more tightening is needed beyond that. On Tuesday, the RBA delivered its second consecutive 50 basis point rise, as widely expected, taking the cash rate to 1.35 per cent, while the accompanying statement offered the bank “ample flexibility” for its August meeting, said Westpac chief economist Bill Evans.
Navigating ‘new normal’ next small biz snag
Although Omicron is still throwing up a messy combination of supply chain bottlenecks, staff shortages and vacillating consumer demand, it’s heartening to see optimism among small to medium sized business owners rebounding. After the previously unimaginable hurdles they’ve faced during the past two years of pandemic lockdowns, that light at the end of the tunnel seems to be getting much brighter. But, among those I speak to, they’re also under no illusions that they’re out of the woods just yet.
‘It’ll bounce back’: The uneven road to recovery post lockdowns
Phillip Au doesn’t have to walk far from his office in Sydney’s central business district to see the lingering impact of COVID-19 lockdowns, border closures and uncertainty. “On the weekend, Chinatown is just like a ghost town, you can count the number of people walking in the street,” the business and migration consultant said last month, even before the emergence of the Omicron variant. Up the road, Song Hotel general manager Jon Ackary echoes the sentiment.
10Qs with… an ocean kayaker and mortgages expert
Anthony Hughes, Westpac’s managing director for mortgages, opens up about what makes him tick for Westpac Wire’s “10 Qs with…”. What do you normally do first thing in the morning? I’m an early riser and, I know it’s a bit of a bad habit, but my phone’s by the bed and the first thing I do is trawl through emails and check on the news around the world. Then it’s exercise. The new hobby is ocean kayaking, which I do three times a week, often with a 5.30am start.
Locked down but not out: SMEs raring for reopening
It’s been a difficult period for millions of Australians and today’s easing of COVID restrictions in New South Wales marks a significant moment in the nation’s path through the pandemic. We have seen an incredible response across Australia to accelerate vaccinations, and this much anticipated milestone for NSW will bring greater freedoms for both households and businesses.
Sophie Cunningham
A Hardie Grant Books book Sophie Cunningham Peter Wilmoth Buy Now Abbeys Amazon AU Angus & Robertson Booktopia Collins Dymocks Kinokuniya Mighty Ape Paper Plus QBD Readings Robinsons The Nile The Warehouse Whitcoulls They sit in the physical and emotional heart of our city, and have done so for 175 years. Most of us have spent time there, and they mean different things to each of us.
How job sharing is going mainstream
For the past six years, Mariebelle Malo has lived and breathed “job sharing”. Not only has she worked several flexible job share roles at multination consumer goods company Unilever, she uses the rest of the week to work on her own business, a job share matching platform called Gemini 3. “I love the variety. I can't imagine ever going back to a full-time job and just doing one thing,” the Sydney-based change manager Unilever says.
‘Just not the same’: The workers over WFH
“WFH” may have become one of the most common acronyms of the past year or so as COVID-19 lockdowns spurred a rise in flexible work practices, particularly working from home. But for some people, they’re pining for what it replaced: the office. Sam Baker, a Melbourne-based sales manager in the telecoms industry, says his drive and motivation started dwindling as soon as his company switched to working from home during the first COVID lockdown last year.
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