Get disco-friendly ramen and snacks at Chapel Street's new late-night izakaya
He opened Umami Tokyo in May close to bars and clubs that push through to dawn, serving street dishes such as takoyaki (fried octopus balls), chicken skewers and pork gyoza, as well as ramen, until 1am on Fridays and Saturdays.
Hikawa is a founder of Parco Ramen in Collingwood and Moonee Ponds, but he moved on last year to launch Umami Tokyo as a takeaway business, popping up at Queen Victoria Market and music festivals.
'I want to deliver my ramen to as many people as possible,' he says. 'I've devoted myself to being a good ramen chef.'
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West Australian
an hour ago
- West Australian
Federal Government and other creditors facing $300m wipeout on failed mineral sands projects
The Federal Government and other creditors of mineral sands miner Strandline Resources are facing a $300 million wipeout even with the sale of the collapsed company's flagship WA project to Japanese group Iwatani. Iwatani, which already owns South West mineral sands miner Doral, is proposing to take control of the mothballed Coburn mine near Shark Bay from receivers with a $15m cash offer that would see secured creditors repaid less than 5¢ in every dollar they are owed. The deed of company arrangement for Coburn, if approved by creditors next week, would crystallise a loss of about $160m for the project's biggest backer, the government-owned Northern Australia Infrastructure Facility. A statutory report by administrators Cor Cordis into the collapse of Strandline and its operating subsidiary Coburn Resources reveals NAIF is owed $167m, having advanced a final $5m just three months before the miner collapsed in February. With bondholders owed $94m and NAB nearly $17m, secured creditors alone are on the hook for Coburn for $277.5m. Under the DOCA, they would likely collectively recover less than $10m, while 224 unsecured mainly trade creditors would share just $1.5m to settle another $49m of claims. Subject to clarification about which company actually employed them, the deed funds would also be used to pay $5 million in outstanding entitlements owed to nearly 170 employees. The ASX-listed Strandline was put into administration on February 21 after its backers ran out of patience with protracted efforts to address Coburn's poor operating performance and restructure the group's hefty debt. Receivers from McGrathNicol took control of the mine under an almost simultaneous appointment by the secured creditors. Strandline spent $260m developing Coburn to exploit a large tonnage, but low-grade deposit, about 300km north of Geraldton. It entered commercial production in November 2022 but struggled from the start, falling well short of the targets assumed in the feasibility study that underpinned the development. Directors sheeted home blame to various factors, including design and construction flaws, unreliable equipment, labour shortages, and higher-than-expected handling and operating costs. However, administrators Thomas Birch and Jeremy Nipps added that Coburn never produced enough to do better than break even. Strandline and Coburn, they said, 'were reliant on funding from lenders to bridge their collective working capital deficit in circumstances where operations were never generating sufficient cash or gross profit'. Iwatani's was one of two proposals received by McGrathNicol after a sale campaign, with the receivers opting for the Japanese company, partly because its offer was better, it had more certainty and it 'would see the continuation of the Coburn project after a short period of care and maintenance'. Iwatani could not be immediately contacted on Friday.
The Advertiser
2 hours ago
- The Advertiser
Asian stocks drop as investors brace for crucial week
Asian stocks retreated on Friday and the US dollar headed for its biggest weekly drop in a month ahead of a crucial week for markets that includes Donald Trump's tariff deadline and key central bank meetings. MSCI's global equity index retreated from an all-time high and was 0.2 per cent lower in early European trading while Japan's Nikkei index ended the day 0.7 per cent lower after two days of gains. Data released on Friday showed the inflation rate in Tokyo rose 2.9 per cent year-on-year in July, down from 3.1 per cent in June. Japanese government efforts to moderate inflation are working, though underlying Tokyo price pressures remain elevated, ING Economics said in a commentary. It expects the Bank of Japan to hold interest rates steady at its July 30-31 meeting, but said the central bank would likely raise its forecast for inflation. In the Chinese markets, Hong Kong's Hang Seng shed 1.1 per cent to 25,383.07 and the Shanghai Composite index slid 0.3 per cent to 3,593.38. Europe's STOXX 600 share index also fell 0.5 per cent in early trade. Ahead of the August 1 deadline for US trade deals with Europe and China, stock markets have been buoyed up by firm US economic data and framed the risk of tariffs hitting growth as a reason to expect Federal Reserve rate cuts. "Higher (US) inflation will, in time, result in weaker demand and weaker investment," UBS Wealth Management economist Dean Turner said. Van Luu, head of solutions strategy, fixed income and foreign exchange at Russell Investments, said he was waiting for a buying opportunity in US Treasuries for this reason. "US data looks astonishingly resilient," he said, but this likely reflected a spending rush before tariffs pushed business input costs and retail sticker prices higher. The past week saw US trade agreements with Japan, Indonesia and the Philippines, while deal talks continued with South Korea. Next week brings the next Fed interest rate meeting, the closely watched monthly payrolls report, and earnings from Amazon, Apple, Meta and Microsoft. Trump has kept up pressure on Fed Chair Jerome Powell to cut rates after a rare presidential visit to the central bank on Thursday, although he said he did not intend to fire Powell, as he has frequently suggested he would. US 10-year Treasury yields were steady at 4.41 per cent while two-year yields, which track monetary policy bets, were also flat at 3.923 per cent. Robust earnings from Google parent Alphabet took Wall Street's Nasdaq to a record high on Thursday but futures trading signalled the tech-heavy index would flatline at the start of cash trading in New York. Contracts tracking the blue-chip S&P 500 index were also flat in early European dealings. The Bank of Japan has its own policy announcement on Thursday, and Prime Minister Ishiba's Liberal Democratic Party holds a meeting on the same day. That's after the European Central Bank held rates steady on Thursday, pausing its easing campaign as it waited to assess the impact from US tariffs. The euro was steady against the dollar on Friday at $US1.1745 , although German government debt sold off, with the yield on benchmark 10-year Bunds up five basis points (bps) in early dealings to 2.74 per cent, the highest since March 28 . Japanese government bond yields were steady on Friday at about 1.6 per cent, a level last seen in October 2008, having ratcheted higher on concerns the political scale is tilting more towards fiscal stimulus. This came after big gains for opposition parties backing consumption tax cuts in Sunday's upper house election. Pressure is building on the more fiscally hawkish Ishiba to quit after his coalition lost its majority in the vote, having done the same in lower house elections last October. Gold eased 0.3 per cent to around $US3,356 an ounce. Brent crude futures gained 0.7 per cent to $US69.65 a barrel. with AP Asian stocks retreated on Friday and the US dollar headed for its biggest weekly drop in a month ahead of a crucial week for markets that includes Donald Trump's tariff deadline and key central bank meetings. MSCI's global equity index retreated from an all-time high and was 0.2 per cent lower in early European trading while Japan's Nikkei index ended the day 0.7 per cent lower after two days of gains. Data released on Friday showed the inflation rate in Tokyo rose 2.9 per cent year-on-year in July, down from 3.1 per cent in June. Japanese government efforts to moderate inflation are working, though underlying Tokyo price pressures remain elevated, ING Economics said in a commentary. It expects the Bank of Japan to hold interest rates steady at its July 30-31 meeting, but said the central bank would likely raise its forecast for inflation. 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The past week saw US trade agreements with Japan, Indonesia and the Philippines, while deal talks continued with South Korea. Next week brings the next Fed interest rate meeting, the closely watched monthly payrolls report, and earnings from Amazon, Apple, Meta and Microsoft. Trump has kept up pressure on Fed Chair Jerome Powell to cut rates after a rare presidential visit to the central bank on Thursday, although he said he did not intend to fire Powell, as he has frequently suggested he would. US 10-year Treasury yields were steady at 4.41 per cent while two-year yields, which track monetary policy bets, were also flat at 3.923 per cent. Robust earnings from Google parent Alphabet took Wall Street's Nasdaq to a record high on Thursday but futures trading signalled the tech-heavy index would flatline at the start of cash trading in New York. Contracts tracking the blue-chip S&P 500 index were also flat in early European dealings. The Bank of Japan has its own policy announcement on Thursday, and Prime Minister Ishiba's Liberal Democratic Party holds a meeting on the same day. That's after the European Central Bank held rates steady on Thursday, pausing its easing campaign as it waited to assess the impact from US tariffs. The euro was steady against the dollar on Friday at $US1.1745 , although German government debt sold off, with the yield on benchmark 10-year Bunds up five basis points (bps) in early dealings to 2.74 per cent, the highest since March 28 . Japanese government bond yields were steady on Friday at about 1.6 per cent, a level last seen in October 2008, having ratcheted higher on concerns the political scale is tilting more towards fiscal stimulus. This came after big gains for opposition parties backing consumption tax cuts in Sunday's upper house election. Pressure is building on the more fiscally hawkish Ishiba to quit after his coalition lost its majority in the vote, having done the same in lower house elections last October. Gold eased 0.3 per cent to around $US3,356 an ounce. Brent crude futures gained 0.7 per cent to $US69.65 a barrel. with AP Asian stocks retreated on Friday and the US dollar headed for its biggest weekly drop in a month ahead of a crucial week for markets that includes Donald Trump's tariff deadline and key central bank meetings. MSCI's global equity index retreated from an all-time high and was 0.2 per cent lower in early European trading while Japan's Nikkei index ended the day 0.7 per cent lower after two days of gains. Data released on Friday showed the inflation rate in Tokyo rose 2.9 per cent year-on-year in July, down from 3.1 per cent in June. Japanese government efforts to moderate inflation are working, though underlying Tokyo price pressures remain elevated, ING Economics said in a commentary. It expects the Bank of Japan to hold interest rates steady at its July 30-31 meeting, but said the central bank would likely raise its forecast for inflation. In the Chinese markets, Hong Kong's Hang Seng shed 1.1 per cent to 25,383.07 and the Shanghai Composite index slid 0.3 per cent to 3,593.38. Europe's STOXX 600 share index also fell 0.5 per cent in early trade. Ahead of the August 1 deadline for US trade deals with Europe and China, stock markets have been buoyed up by firm US economic data and framed the risk of tariffs hitting growth as a reason to expect Federal Reserve rate cuts. "Higher (US) inflation will, in time, result in weaker demand and weaker investment," UBS Wealth Management economist Dean Turner said. Van Luu, head of solutions strategy, fixed income and foreign exchange at Russell Investments, said he was waiting for a buying opportunity in US Treasuries for this reason. "US data looks astonishingly resilient," he said, but this likely reflected a spending rush before tariffs pushed business input costs and retail sticker prices higher. The past week saw US trade agreements with Japan, Indonesia and the Philippines, while deal talks continued with South Korea. Next week brings the next Fed interest rate meeting, the closely watched monthly payrolls report, and earnings from Amazon, Apple, Meta and Microsoft. Trump has kept up pressure on Fed Chair Jerome Powell to cut rates after a rare presidential visit to the central bank on Thursday, although he said he did not intend to fire Powell, as he has frequently suggested he would. US 10-year Treasury yields were steady at 4.41 per cent while two-year yields, which track monetary policy bets, were also flat at 3.923 per cent. Robust earnings from Google parent Alphabet took Wall Street's Nasdaq to a record high on Thursday but futures trading signalled the tech-heavy index would flatline at the start of cash trading in New York. Contracts tracking the blue-chip S&P 500 index were also flat in early European dealings. The Bank of Japan has its own policy announcement on Thursday, and Prime Minister Ishiba's Liberal Democratic Party holds a meeting on the same day. That's after the European Central Bank held rates steady on Thursday, pausing its easing campaign as it waited to assess the impact from US tariffs. The euro was steady against the dollar on Friday at $US1.1745 , although German government debt sold off, with the yield on benchmark 10-year Bunds up five basis points (bps) in early dealings to 2.74 per cent, the highest since March 28 . Japanese government bond yields were steady on Friday at about 1.6 per cent, a level last seen in October 2008, having ratcheted higher on concerns the political scale is tilting more towards fiscal stimulus. This came after big gains for opposition parties backing consumption tax cuts in Sunday's upper house election. Pressure is building on the more fiscally hawkish Ishiba to quit after his coalition lost its majority in the vote, having done the same in lower house elections last October. Gold eased 0.3 per cent to around $US3,356 an ounce. Brent crude futures gained 0.7 per cent to $US69.65 a barrel. with AP Asian stocks retreated on Friday and the US dollar headed for its biggest weekly drop in a month ahead of a crucial week for markets that includes Donald Trump's tariff deadline and key central bank meetings. MSCI's global equity index retreated from an all-time high and was 0.2 per cent lower in early European trading while Japan's Nikkei index ended the day 0.7 per cent lower after two days of gains. Data released on Friday showed the inflation rate in Tokyo rose 2.9 per cent year-on-year in July, down from 3.1 per cent in June. Japanese government efforts to moderate inflation are working, though underlying Tokyo price pressures remain elevated, ING Economics said in a commentary. It expects the Bank of Japan to hold interest rates steady at its July 30-31 meeting, but said the central bank would likely raise its forecast for inflation. In the Chinese markets, Hong Kong's Hang Seng shed 1.1 per cent to 25,383.07 and the Shanghai Composite index slid 0.3 per cent to 3,593.38. Europe's STOXX 600 share index also fell 0.5 per cent in early trade. Ahead of the August 1 deadline for US trade deals with Europe and China, stock markets have been buoyed up by firm US economic data and framed the risk of tariffs hitting growth as a reason to expect Federal Reserve rate cuts. "Higher (US) inflation will, in time, result in weaker demand and weaker investment," UBS Wealth Management economist Dean Turner said. Van Luu, head of solutions strategy, fixed income and foreign exchange at Russell Investments, said he was waiting for a buying opportunity in US Treasuries for this reason. "US data looks astonishingly resilient," he said, but this likely reflected a spending rush before tariffs pushed business input costs and retail sticker prices higher. The past week saw US trade agreements with Japan, Indonesia and the Philippines, while deal talks continued with South Korea. Next week brings the next Fed interest rate meeting, the closely watched monthly payrolls report, and earnings from Amazon, Apple, Meta and Microsoft. Trump has kept up pressure on Fed Chair Jerome Powell to cut rates after a rare presidential visit to the central bank on Thursday, although he said he did not intend to fire Powell, as he has frequently suggested he would. US 10-year Treasury yields were steady at 4.41 per cent while two-year yields, which track monetary policy bets, were also flat at 3.923 per cent. Robust earnings from Google parent Alphabet took Wall Street's Nasdaq to a record high on Thursday but futures trading signalled the tech-heavy index would flatline at the start of cash trading in New York. Contracts tracking the blue-chip S&P 500 index were also flat in early European dealings. The Bank of Japan has its own policy announcement on Thursday, and Prime Minister Ishiba's Liberal Democratic Party holds a meeting on the same day. That's after the European Central Bank held rates steady on Thursday, pausing its easing campaign as it waited to assess the impact from US tariffs. The euro was steady against the dollar on Friday at $US1.1745 , although German government debt sold off, with the yield on benchmark 10-year Bunds up five basis points (bps) in early dealings to 2.74 per cent, the highest since March 28 . Japanese government bond yields were steady on Friday at about 1.6 per cent, a level last seen in October 2008, having ratcheted higher on concerns the political scale is tilting more towards fiscal stimulus. This came after big gains for opposition parties backing consumption tax cuts in Sunday's upper house election. Pressure is building on the more fiscally hawkish Ishiba to quit after his coalition lost its majority in the vote, having done the same in lower house elections last October. Gold eased 0.3 per cent to around $US3,356 an ounce. Brent crude futures gained 0.7 per cent to $US69.65 a barrel. with AP
Courier-Mail
5 hours ago
- Courier-Mail
A look at some of NQ's cheapest homes
With North Queensland home prices soaring, affordable property can be hard to dig up, but there are still gems to be found even if they're a little more diamond in the rough than sparkling jewel. The latest PropTrack data showed the median house price in the Townsville region shot up 24 per cent in the past 12 months to $570,000. The cheapest house currently for sale in Townsville itself is a three-bedroom highset home on the market for offers over $399,000. But by saying goodbye to the bright lights of the 'big' city, buyers can find bargains within an hour or two of Townsville. In Ayr, the average cost of a home is $340,000, while in Charters Towers it is $250,000 and in Ingham it is $287,000. RELATED: Surprise home of Australia's first Japanese consulate under offer Ultimate rev head home has 16-car garage, full mech pit Million-dollar savings: Brisbane's bargain suburbs exposed Here are a selection of the cheapest properties on offer – though most need quite a bit more than elbow grease to get them shining again. 110 Eleventh Ave, Home Hill $150,000 Being sold 'as is', this three-bedroom, one-bathroom home is on a fenced block of about 500 sqm and is part of a non-functioning body corporate with the neighbouring duplex. The house has an open plan living and dining area, a small kitchen and a front sunroom. 77 York St, Queenton $170,000 Sitting close to the heart of Charters Towers, this character home has a new roof, an open plan living and dining space, a spacious kitchen and a deck off the side. There are four bedrooms, a family bathroom with shower and a separate toilet, while the 632 sqm block is fully fenced. 12 Allingham St, Ingham $179,000 This three-bedroom home with big shed is on an 809 sqm block walking distance to the Ingham CBD. The house has an open plan living and dining room, an updated kitchen and a modern bathroom. 74 King St, Charters Towers City $210,000 Retaining some of its original charm, this home has an open plan kitchen and dining space, a sunroom and a separate lounge room. There are two bedrooms, a bathroom crying out for a reno and an internal laundry, all on a fenced 670 sqm block. 13 Pavia Drive, Nome $225,000 This one-bedroom home is in the gated community of Cleveland Palms, which includes an exclusive all-weather boat ramp and fishing platform. The house has an open plan sleeping, living, dining and kitchen area, a bathroom, a full length veranda and an 11m carport. 26 Miles St, Ingham $260,000 This home is sitting on a massive 1012 sqm block in the heart of Ingham and comes with three bedrooms, one bathroom and a single garage. Elevated, the home has a front veranda, a big lounge and an open plan kitchen and dining space. 52 Hodges Cres, Vincent Offers over $399,000 This highset, three-bedroom home is Townsville's cheapest detached house listed for sale on right now. Being sold 'as is', the house has timber floors, original kitchen, a dining room, a lounge room and a bathroom, while outside there is an upstairs deck and a raised deck in the backyard.
