Latest news with #Duc
The Advertiser
27-06-2025
- Automotive
- The Advertiser
Leader Marquez crashes twice in Dutch GP practice
Ducati's MotoGP championship leader Marc Marquez has crashed twice on a painful day of practice at the Dutch Grand Prix in Assen. The Spaniard said he was lucky to walk away with no major injuries ahead of the weekend's action. Marquez, who has not won at Assen in seven years, arrived at the Cathedral of Speed with a 40-point lead but as he put the Ducati through its paces, he struggled on the sweeping turns when the medium compound tyre failed to grip in cool conditions. The first crash saw Marquez go down in a highside crash and as he ended up in the gravel, he quickly took off his left glove in apparent pain. He said: "I was a bit scared. I hit my nerve (in the elbow) and my hand was sleeping. For that reason I took off my glove super quick, to understand what's going on ... I was able to move but the feeling was zero." On the second crash, Marquez lost his balance on a turn and slid into the gravel again, this time stomach down as the bike tumbled away from him. The 32-year-old initially stood up but appeared winded and quickly sat on his haunches holding his groin before he was helped off the track by marshals. "It's not an easy day for my body but apart from that I'm lucky because nothing important - some things, yes - but it's not something that will be a problem for the next two days. Tomorrow I will check when I get up," Marquez said with a smile. Marquez also sported a small cut on his chin after his slide across the gravel and the Ducati rider said the size of the stones did not help as he also hurt his stomach. "The rocks are super big and then when you arrive there with that high speed, it hits your body," he added. "I had a problem and then I (could not) breathe there on the gravel because I was sliding on the gravel face down." Marquez was taken to the medical centre for a check-up after the second crash and was declared fit to race this weekend. He eventually advanced to the Q2 qualifying session but he was not the only rider to crash on Friday, with his brother Alex of Gresini Racing, who is second in the championship, also going down. There were as many as nine crashes and two red flags coming out when Trackhouse Racing's Ai Ogura suffered a crash as his bike landed in a fiery heap while Aprilia's Lorenzo Savadori also went down due to a nasty highside. Yamaha's Fabio Quartararo topped the practice session timesheet ahead of Alex Marquez, KTM's Pedro Acosta and Aprilia's Marco Bezzecchi as four different manufacturers made the top five rounded out by Ducati's Francesco Bagnaia. Australia's Jack Miller was down the list in 16th on his Pramac Yamaha, 0.836 seconds behind the leader. Ducati's MotoGP championship leader Marc Marquez has crashed twice on a painful day of practice at the Dutch Grand Prix in Assen. The Spaniard said he was lucky to walk away with no major injuries ahead of the weekend's action. Marquez, who has not won at Assen in seven years, arrived at the Cathedral of Speed with a 40-point lead but as he put the Ducati through its paces, he struggled on the sweeping turns when the medium compound tyre failed to grip in cool conditions. The first crash saw Marquez go down in a highside crash and as he ended up in the gravel, he quickly took off his left glove in apparent pain. He said: "I was a bit scared. I hit my nerve (in the elbow) and my hand was sleeping. For that reason I took off my glove super quick, to understand what's going on ... I was able to move but the feeling was zero." On the second crash, Marquez lost his balance on a turn and slid into the gravel again, this time stomach down as the bike tumbled away from him. The 32-year-old initially stood up but appeared winded and quickly sat on his haunches holding his groin before he was helped off the track by marshals. "It's not an easy day for my body but apart from that I'm lucky because nothing important - some things, yes - but it's not something that will be a problem for the next two days. Tomorrow I will check when I get up," Marquez said with a smile. Marquez also sported a small cut on his chin after his slide across the gravel and the Ducati rider said the size of the stones did not help as he also hurt his stomach. "The rocks are super big and then when you arrive there with that high speed, it hits your body," he added. "I had a problem and then I (could not) breathe there on the gravel because I was sliding on the gravel face down." Marquez was taken to the medical centre for a check-up after the second crash and was declared fit to race this weekend. He eventually advanced to the Q2 qualifying session but he was not the only rider to crash on Friday, with his brother Alex of Gresini Racing, who is second in the championship, also going down. There were as many as nine crashes and two red flags coming out when Trackhouse Racing's Ai Ogura suffered a crash as his bike landed in a fiery heap while Aprilia's Lorenzo Savadori also went down due to a nasty highside. Yamaha's Fabio Quartararo topped the practice session timesheet ahead of Alex Marquez, KTM's Pedro Acosta and Aprilia's Marco Bezzecchi as four different manufacturers made the top five rounded out by Ducati's Francesco Bagnaia. Australia's Jack Miller was down the list in 16th on his Pramac Yamaha, 0.836 seconds behind the leader. Ducati's MotoGP championship leader Marc Marquez has crashed twice on a painful day of practice at the Dutch Grand Prix in Assen. The Spaniard said he was lucky to walk away with no major injuries ahead of the weekend's action. Marquez, who has not won at Assen in seven years, arrived at the Cathedral of Speed with a 40-point lead but as he put the Ducati through its paces, he struggled on the sweeping turns when the medium compound tyre failed to grip in cool conditions. The first crash saw Marquez go down in a highside crash and as he ended up in the gravel, he quickly took off his left glove in apparent pain. He said: "I was a bit scared. I hit my nerve (in the elbow) and my hand was sleeping. For that reason I took off my glove super quick, to understand what's going on ... I was able to move but the feeling was zero." On the second crash, Marquez lost his balance on a turn and slid into the gravel again, this time stomach down as the bike tumbled away from him. The 32-year-old initially stood up but appeared winded and quickly sat on his haunches holding his groin before he was helped off the track by marshals. "It's not an easy day for my body but apart from that I'm lucky because nothing important - some things, yes - but it's not something that will be a problem for the next two days. Tomorrow I will check when I get up," Marquez said with a smile. Marquez also sported a small cut on his chin after his slide across the gravel and the Ducati rider said the size of the stones did not help as he also hurt his stomach. "The rocks are super big and then when you arrive there with that high speed, it hits your body," he added. "I had a problem and then I (could not) breathe there on the gravel because I was sliding on the gravel face down." Marquez was taken to the medical centre for a check-up after the second crash and was declared fit to race this weekend. He eventually advanced to the Q2 qualifying session but he was not the only rider to crash on Friday, with his brother Alex of Gresini Racing, who is second in the championship, also going down. There were as many as nine crashes and two red flags coming out when Trackhouse Racing's Ai Ogura suffered a crash as his bike landed in a fiery heap while Aprilia's Lorenzo Savadori also went down due to a nasty highside. Yamaha's Fabio Quartararo topped the practice session timesheet ahead of Alex Marquez, KTM's Pedro Acosta and Aprilia's Marco Bezzecchi as four different manufacturers made the top five rounded out by Ducati's Francesco Bagnaia. Australia's Jack Miller was down the list in 16th on his Pramac Yamaha, 0.836 seconds behind the leader. Ducati's MotoGP championship leader Marc Marquez has crashed twice on a painful day of practice at the Dutch Grand Prix in Assen. The Spaniard said he was lucky to walk away with no major injuries ahead of the weekend's action. Marquez, who has not won at Assen in seven years, arrived at the Cathedral of Speed with a 40-point lead but as he put the Ducati through its paces, he struggled on the sweeping turns when the medium compound tyre failed to grip in cool conditions. The first crash saw Marquez go down in a highside crash and as he ended up in the gravel, he quickly took off his left glove in apparent pain. He said: "I was a bit scared. I hit my nerve (in the elbow) and my hand was sleeping. For that reason I took off my glove super quick, to understand what's going on ... I was able to move but the feeling was zero." On the second crash, Marquez lost his balance on a turn and slid into the gravel again, this time stomach down as the bike tumbled away from him. The 32-year-old initially stood up but appeared winded and quickly sat on his haunches holding his groin before he was helped off the track by marshals. "It's not an easy day for my body but apart from that I'm lucky because nothing important - some things, yes - but it's not something that will be a problem for the next two days. Tomorrow I will check when I get up," Marquez said with a smile. Marquez also sported a small cut on his chin after his slide across the gravel and the Ducati rider said the size of the stones did not help as he also hurt his stomach. "The rocks are super big and then when you arrive there with that high speed, it hits your body," he added. "I had a problem and then I (could not) breathe there on the gravel because I was sliding on the gravel face down." Marquez was taken to the medical centre for a check-up after the second crash and was declared fit to race this weekend. He eventually advanced to the Q2 qualifying session but he was not the only rider to crash on Friday, with his brother Alex of Gresini Racing, who is second in the championship, also going down. There were as many as nine crashes and two red flags coming out when Trackhouse Racing's Ai Ogura suffered a crash as his bike landed in a fiery heap while Aprilia's Lorenzo Savadori also went down due to a nasty highside. Yamaha's Fabio Quartararo topped the practice session timesheet ahead of Alex Marquez, KTM's Pedro Acosta and Aprilia's Marco Bezzecchi as four different manufacturers made the top five rounded out by Ducati's Francesco Bagnaia. Australia's Jack Miller was down the list in 16th on his Pramac Yamaha, 0.836 seconds behind the leader.
The Star
27-06-2025
- Business
- The Star
Vietnam passes law to tackle bank crisis, resolving bad debts
A woman rides a motorbike past the State Bank of Vietnam in Hanoi on February 25, 2025. Under the legislation, which takes effect from Oct. 15, the State Bank of Vietnam is authorised to provide special unsecured loans with zero lending rates to troubled banks - a power previously held by the Prime Minister. - AFP HANOI: Vietnam's parliament passed a revised law on credit institutions, bolstering the central bank's authority to ensure the safety of the banking system while offering long-awaited legal clarity for commercial lenders to resolve non-performing loans. Under the legislation, which was approved by the National Assembly Friday (June 27) and takes effect from Oct. 15, the State Bank of Vietnam is authorised to provide special unsecured loans with zero lending rates to troubled banks - a power previously held by the Prime Minister. The move "is quite essential in order to deal with bad banks, as it will enable a faster and stronger response in crisis cases that could lead to systemic damage,' said Nguyen Anh Duc, head of institutional brokerage and investment advisory at SBB Securities. The central bank "could quickly support critical weak banks out of illiquid turmoil and maintain the financial system,' he added. The new regulation also enables commercial banks to seize collateral assets of bad debts with prior agreement from borrowers. This is a "long-awaited decision' as it eliminates the need for prolonged legal procedures when banks deal with bad debts, according to Duc. Banks are now empowered to proactively liquidate collateral assets to recover outstanding loans in the event of borrower default which will enhance bad debt recovery efficiency, especially for real estate and other secured assets, Duc said. Vietnam's banking system has remained broadly stable in recent years, but authorities have repeatedly emphasised the need for stronger risk management frameworks. These concerns came to the fore after a brief 2022 bank run at Saigon Commercial Bank, which was linked to an investigation into the real estate conglomerate Van Thinh Phat Group, led by imprisoned tycoon Truong My Lan. Non-performing loans at 27 listed banks increased by over 37 trillion dong (US$1.4 billion) in the first quarter, representing a 16 per cent quarter-by-quarter increase, Tung Do, an analyst at RongViet Securities, wrote in a June 9 note. They're expected to continue rising in the upcoming quarter, he added. The new changes will also "enable banks to unlock frozen capital tied to bad debt collateral to support credit growth,' said Quan Vu, banking analyst at Vietcap Securities. From May, the Vietnamese government also allowed 49 per cent foreign ownership of a handful of banks - up from 30 per cent - that have taken over struggling financial institutions in a move to quicken the central bank's restructuring of troubled lenders. Some bank stocks rose after the news. Vietnam Prosperity JSC Bank increased as much as 2.2 per cent, the most since June 16, while Orient Commercial JSB rose as much as 2.1 per cent. - Bloomberg
Arabian Post
11-06-2025
- Health
- Arabian Post
Vinmec performs its first total femoral replacement for world's youngest cancer patient
Vinmec successfully performs world's youngest pediatric total femur replacement surgery using 3D printing technology. HANOI, VIETNAM – Media OutReach Newswire – 11 June 2025 – Refusing to Surrender to Fate In October 2022, after a minor fall, Tran Minh Duc (a boy from Ho Chi Minh City) hurt his left thigh. Believing it to be just a simple injury, his family was shocked to hear the bad news from the doctor: The boy was diagnosed with osteosarcoma – a malignant bone cancer with a tumor that had invaded his entire femur. It is typically seen in adolescents, but rare and haphazard in younger children. ADVERTISEMENT Given the severe prognosis, most medical facilities recommended amputation to ensure his survival or bone grafting (a conventional method). Both methods carry a high risk of rejection and infection, especially for younger children in the development stage. The flash of hope appeared when she met Prof. Dr. Tran Trung Dung – Director of the Orthopedic Council, Vinmec Healthcare System. An unprecedented approach was proposed to apply to such a young patient: replacing the entire femur with personalized 3D-printed materials that are produced in Vietnam. A 'Legendary' Surgery with Vietnamese Technologies According to Prof. Dr. Tran Trung Dung, the entire femur of Duc has been invaded by the tumor. To ensure his life, Duc's leg had to be amputated. However, different types of artificial joints available on the market are not compatible with young bodies. After various interdisciplinary case conferences including Orthopedics, Oncology, Diagnostic Imaging, Pathology, Clinical Pharmacy, etc., the Vinmec experts reached a consensus on the optimal approach – a two-phase surgery. Phase 1 (January 2024): Removing the tumor and temporarily grafting a cement bone. Phase 2 (May 2025): Replacing the entire femur with a 'customized' bone made of 3D-printed metal. ADVERTISEMENT On January 29, 2024, Duc underwent his first surgery – removing the entire tumor and temporarily grafting a cement bone. In May 2025 when his conditions had stabilized, Duc's entire femur was replaced with a 'customized' bone made of 3D-printed metal. For the first time, 3D printing was applied to the youngest patient in the world with the collaboration between Vinmec medical professionals and VinUni's engineers. The bone's design is modular, enabling future extensions based on the child's physical development. According to MSc. Dr. Tran Duc Thanh, who was directly engaged in the surgery: 'We contacted foreign manufacturers but there was no suitable design. Self-manufacturing the equipment allows us to be proactive in treatment, it also paves the way for a new direction for Vietnamese medicine.' Prof. Dr. Tran Trung Dung added: 'The 4-hour surgery was a success. Duc recovered quickly without any complications, now he is able to walk with the support of physical therapy. The surgery represented a breakthrough in complex techniques and the evidence for sound collaboration in the multidisciplinary medical team. Both the life and limb of the child were kept intact.' Vinmec – Pioneering in Vietnam's Personalized Precision Medicine Once at risk of amputation and life-long dependence, Minh Duc is now able to walk on his own feet, supported by physical therapy without any complications of infection or transplant rejection. Every step Duc takes is a testament to precision medicine, advanced technologies, and the unwavering love of his mother. 'When my son stood up, I was trembling with joy. He has been unable to walk for nearly two years. Now he did it. I just hope that he will be capable of riding a bike and playing football like his peers…' – Ms. Hoang said in tears. Prof. Dr. Tran Trung Dung also shared his emotions: 'We believe that modern medicine and compassion should go side by side. Duc is not just a special patient, his case represents a story of determination, maternal love, and the faith that the impossible can become possible if we never give up.' Vinmec is the first Vietnamese healthcare system that applies personalized 3D printing in the treatment of musculoskeletal conditions. Instead of using standardized equipment, Vinmec uses CT and MRI data in the design of artificial joints and bones tailored to each patient to optimize motor functions, enhance precision, and reduce the recovery period. To date, Vinmec has achieved successes in many difficult and rare cases, e.g. liver transplantation for an 8-month-old patient from a brain-dead donor, the first in Southeast Asia to reproduce 3D-printed titanium chest wall, and the first in the world to replace the pelvis and femur at the same time with 3D-printed bones. With its series of breakthroughs and pioneering achievements in high-tech healthcare and precision medicine, Vinmec further affirms the aspiration to elevate the position of Vietnam in the global medical field. Vinmec – A Place of Healing and Reimagining the Future. Hashtag: #Vinmec The issuer is solely responsible for the content of this announcement. About Vinmec Healthcare System Vinmec is Vietnam's leading private healthcare system, with a network of 9 hospitals nationwide, developed to international standards with a focus on comprehensive, personalized, and specialty care. Its proud achievements include: A strategic partnership with Cleveland Clinic , one of the world's top healthcare systems, enabling global clinical collaboration and access to world-class medical standards. , one of the world's top healthcare systems, enabling global clinical collaboration and access to world-class medical standards. No.1 Healthcare Services for Foreigners in Vietnam , trusted by international residents for its high-quality care, globally trained physicians, and international-standard facilities. , trusted by international residents for its high-quality care, globally trained physicians, and international-standard facilities. The only healthcare system in Asia honored at the Healthcare Asia Awards 2025 , receiving two prestigious accolades: Hospital Group of the Year and Technology Innovation of the Year , reinforcing its leadership in the region. , receiving two prestigious accolades: and , reinforcing its leadership in the region. JCI-accredited , meeting the world's most rigorous standards for patient safety and healthcare quality. , meeting the world's most rigorous standards for patient safety and healthcare quality. The first and only healthcare system in Vietnam to establish Centers of Excellence (CoEs) across four key specialties: Cardiology, Oncology, Orthopedics & Sports Medicine, and Clinical Immunology – Allergy. For medical inquiries, please contact: [email protected]
The Sun
11-06-2025
- Health
- The Sun
Vinmec performs its first total femoral replacement for world's youngest cancer patient
HANOI, VIETNAM - Media OutReach Newswire - 11 June 2025 - Vinmec Healthcare System has successfully performed a Total Femoral Replacement (TFR) surgery using personalized 3D printing materials for the world's youngest cancer patient. It is also the first biomedical product designed and produced entirely in Vietnam, marking a major milestone in the country's advancement in precision medicine. Refusing to Surrender to Fate In October 2022, after a minor fall, Tran Minh Duc (a boy from Ho Chi Minh City) hurt his left thigh. Believing it to be just a simple injury, his family was shocked to hear the bad news from the doctor: The boy was diagnosed with osteosarcoma - a malignant bone cancer with a tumor that had invaded his entire femur. It is typically seen in adolescents, but rare and haphazard in younger children. Given the severe prognosis, most medical facilities recommended amputation to ensure his survival or bone grafting (a conventional method). Both methods carry a high risk of rejection and infection, especially for younger children in the development stage. The flash of hope appeared when she met Prof. Dr. Tran Trung Dung - Director of the Orthopedic Council, Vinmec Healthcare System. An unprecedented approach was proposed to apply to such a young patient: replacing the entire femur with personalized 3D-printed materials that are produced in Vietnam. A 'Legendary' Surgery with Vietnamese Technologies According to Prof. Dr. Tran Trung Dung, the entire femur of Duc has been invaded by the tumor. To ensure his life, Duc's leg had to be amputated. However, different types of artificial joints available on the market are not compatible with young bodies. After various interdisciplinary case conferences including Orthopedics, Oncology, Diagnostic Imaging, Pathology, Clinical Pharmacy, etc., the Vinmec experts reached a consensus on the optimal approach - a two-phase surgery. Phase 1 (January 2024): Removing the tumor and temporarily grafting a cement bone. Phase 2 (May 2025): Replacing the entire femur with a 'customized' bone made of 3D-printed metal. On January 29, 2024, Duc underwent his first surgery - removing the entire tumor and temporarily grafting a cement bone. In May 2025 when his conditions had stabilized, Duc's entire femur was replaced with a 'customized' bone made of 3D-printed metal. For the first time, 3D printing was applied to the youngest patient in the world with the collaboration between Vinmec medical professionals and VinUni's engineers. The bone's design is modular, enabling future extensions based on the child's physical development. According to MSc. Dr. Tran Duc Thanh, who was directly engaged in the surgery: 'We contacted foreign manufacturers but there was no suitable design. Self-manufacturing the equipment allows us to be proactive in treatment, it also paves the way for a new direction for Vietnamese medicine.' Prof. Dr. Tran Trung Dung added: 'The 4-hour surgery was a success. Duc recovered quickly without any complications, now he is able to walk with the support of physical therapy. The surgery represented a breakthrough in complex techniques and the evidence for sound collaboration in the multidisciplinary medical team. Both the life and limb of the child were kept intact.' Vinmec - Pioneering in Vietnam's Personalized Precision Medicine Once at risk of amputation and life-long dependence, Minh Duc is now able to walk on his own feet, supported by physical therapy without any complications of infection or transplant rejection. Every step Duc takes is a testament to precision medicine, advanced technologies, and the unwavering love of his mother. 'When my son stood up, I was trembling with joy. He has been unable to walk for nearly two years. Now he did it. I just hope that he will be capable of riding a bike and playing football like his peers...' - Ms. Hoang said in tears. Prof. Dr. Tran Trung Dung also shared his emotions: 'We believe that modern medicine and compassion should go side by side. Duc is not just a special patient, his case represents a story of determination, maternal love, and the faith that the impossible can become possible if we never give up.' Vinmec is the first Vietnamese healthcare system that applies personalized 3D printing in the treatment of musculoskeletal conditions. Instead of using standardized equipment, Vinmec uses CT and MRI data in the design of artificial joints and bones tailored to each patient to optimize motor functions, enhance precision, and reduce the recovery period. To date, Vinmec has achieved successes in many difficult and rare cases, e.g. liver transplantation for an 8-month-old patient from a brain-dead donor, the first in Southeast Asia to reproduce 3D-printed titanium chest wall, and the first in the world to replace the pelvis and femur at the same time with 3D-printed bones. With its series of breakthroughs and pioneering achievements in high-tech healthcare and precision medicine, Vinmec further affirms the aspiration to elevate the position of Vietnam in the global medical field. Vinmec - A Place of Healing and Reimagining the Future.
The Advertiser
01-06-2025
- Business
- The Advertiser
Business Newcastle president asks what's next if traders reject controversial rate
CITY of Newcastle will go to business owners that pay a Special Business Rate (SBR) with two questions: whether they think the scheme provides value for money, and if it should continue. Business Newcastle president Edward Duc has a question of his own: What's next if the answer is no? This week, councillors voted to survey business owners in SBR precincts about the future of the controversial scheme after several submissions to a recent independent probe into the council raised concerns about the transparency of how the funds are levied, allocated and spent. Mr Duc said feedback he has received is that a large proportion of those who pay the SBR do not see the value in the scheme. "We've got businesses, and I'm not saying this is the only reason, who are moving from Newcastle to Charlestown because of the high commercial rates," he said. "The more money that traders have to give to the council, the more it just inhibits what they can do. "It is Business Newcastle's view that the council should suspend the SBR and generate the funding themselves out of the generous commercial rates they're charging, that's our stand at the moment." City of Newcastle made $65.9 million in business rates in 2023/24 from 15,489 active businesses, the second-highest sum of any NSW council. The SBR is an additional charge levied on businesses in the precincts on top of their standard commercial rates. The Newcastle Herald asked City of Newcastle when it intends to conduct the survey and whether it intends to remove the SBR if businesses answer no to its two questions. If not, the Herald asked what the purpose of the survey is and what the council feels the value of the SBR is to businesses. Questions were also asked about the impact of the Port of Newcastle on commercial rates and the council's response to claims that SBR funds used on events should be funded by ratepayers and the council rather than business owners. In response, a City of Newcastle spokesman said following Tuesday's council meeting, the council is considering the "most appropriate" mechanism for implementing the SBR survey. "The elected council and community will be informed at the appropriate time," he said. The scheme has long been a point of contention, with some business owners questioning its necessity and others calling for it to be axed entirely. In 2024/25, the council said the cost to administer the scheme, including BIA governance and support, is $152,700. That figure is 10 per cent of total funds levied. Business Improvement Associations (BIA) in the city centre and Darby Street, Hamilton, Mayfield, New Lambton and Wallsend are independent organisations responsible for disbursing up to $100,000 of SBR funds each year. That money can be used for strategic directions to promote local business, marketing and promotions, prioritising and managing beautification projects and coordinating community events aimed at encouraging business demand. The council decides how the remainder of SBR funds are spent. Mr Duc said many business owners do not feel the SBR is being spent in a way that directly benefits them. "We've got to make sure that all of the people who actually pay the levy get to have a say," he said. "If the council doesn't take notice of the business community, then we will be having a big say, and we have a bit of muscle because we're part of Business NSW and Business Hunter. "Be assured, if the answer from businesses is no and the council decides not to act on it through the BIAs, then we will be lobbying to have it [the SBR] removed." The Davidson review recommended that the council require BIAs to undertake research with membership and the community annually, or at agreed regular intervals, to assess satisfaction, impact and present the findings to the council for consideration. CITY of Newcastle will go to business owners that pay a Special Business Rate (SBR) with two questions: whether they think the scheme provides value for money, and if it should continue. Business Newcastle president Edward Duc has a question of his own: What's next if the answer is no? This week, councillors voted to survey business owners in SBR precincts about the future of the controversial scheme after several submissions to a recent independent probe into the council raised concerns about the transparency of how the funds are levied, allocated and spent. Mr Duc said feedback he has received is that a large proportion of those who pay the SBR do not see the value in the scheme. "We've got businesses, and I'm not saying this is the only reason, who are moving from Newcastle to Charlestown because of the high commercial rates," he said. "The more money that traders have to give to the council, the more it just inhibits what they can do. "It is Business Newcastle's view that the council should suspend the SBR and generate the funding themselves out of the generous commercial rates they're charging, that's our stand at the moment." City of Newcastle made $65.9 million in business rates in 2023/24 from 15,489 active businesses, the second-highest sum of any NSW council. The SBR is an additional charge levied on businesses in the precincts on top of their standard commercial rates. The Newcastle Herald asked City of Newcastle when it intends to conduct the survey and whether it intends to remove the SBR if businesses answer no to its two questions. If not, the Herald asked what the purpose of the survey is and what the council feels the value of the SBR is to businesses. Questions were also asked about the impact of the Port of Newcastle on commercial rates and the council's response to claims that SBR funds used on events should be funded by ratepayers and the council rather than business owners. In response, a City of Newcastle spokesman said following Tuesday's council meeting, the council is considering the "most appropriate" mechanism for implementing the SBR survey. "The elected council and community will be informed at the appropriate time," he said. The scheme has long been a point of contention, with some business owners questioning its necessity and others calling for it to be axed entirely. In 2024/25, the council said the cost to administer the scheme, including BIA governance and support, is $152,700. That figure is 10 per cent of total funds levied. Business Improvement Associations (BIA) in the city centre and Darby Street, Hamilton, Mayfield, New Lambton and Wallsend are independent organisations responsible for disbursing up to $100,000 of SBR funds each year. That money can be used for strategic directions to promote local business, marketing and promotions, prioritising and managing beautification projects and coordinating community events aimed at encouraging business demand. The council decides how the remainder of SBR funds are spent. Mr Duc said many business owners do not feel the SBR is being spent in a way that directly benefits them. "We've got to make sure that all of the people who actually pay the levy get to have a say," he said. "If the council doesn't take notice of the business community, then we will be having a big say, and we have a bit of muscle because we're part of Business NSW and Business Hunter. "Be assured, if the answer from businesses is no and the council decides not to act on it through the BIAs, then we will be lobbying to have it [the SBR] removed." The Davidson review recommended that the council require BIAs to undertake research with membership and the community annually, or at agreed regular intervals, to assess satisfaction, impact and present the findings to the council for consideration. CITY of Newcastle will go to business owners that pay a Special Business Rate (SBR) with two questions: whether they think the scheme provides value for money, and if it should continue. Business Newcastle president Edward Duc has a question of his own: What's next if the answer is no? This week, councillors voted to survey business owners in SBR precincts about the future of the controversial scheme after several submissions to a recent independent probe into the council raised concerns about the transparency of how the funds are levied, allocated and spent. Mr Duc said feedback he has received is that a large proportion of those who pay the SBR do not see the value in the scheme. "We've got businesses, and I'm not saying this is the only reason, who are moving from Newcastle to Charlestown because of the high commercial rates," he said. "The more money that traders have to give to the council, the more it just inhibits what they can do. "It is Business Newcastle's view that the council should suspend the SBR and generate the funding themselves out of the generous commercial rates they're charging, that's our stand at the moment." City of Newcastle made $65.9 million in business rates in 2023/24 from 15,489 active businesses, the second-highest sum of any NSW council. The SBR is an additional charge levied on businesses in the precincts on top of their standard commercial rates. The Newcastle Herald asked City of Newcastle when it intends to conduct the survey and whether it intends to remove the SBR if businesses answer no to its two questions. If not, the Herald asked what the purpose of the survey is and what the council feels the value of the SBR is to businesses. Questions were also asked about the impact of the Port of Newcastle on commercial rates and the council's response to claims that SBR funds used on events should be funded by ratepayers and the council rather than business owners. In response, a City of Newcastle spokesman said following Tuesday's council meeting, the council is considering the "most appropriate" mechanism for implementing the SBR survey. "The elected council and community will be informed at the appropriate time," he said. The scheme has long been a point of contention, with some business owners questioning its necessity and others calling for it to be axed entirely. In 2024/25, the council said the cost to administer the scheme, including BIA governance and support, is $152,700. That figure is 10 per cent of total funds levied. Business Improvement Associations (BIA) in the city centre and Darby Street, Hamilton, Mayfield, New Lambton and Wallsend are independent organisations responsible for disbursing up to $100,000 of SBR funds each year. That money can be used for strategic directions to promote local business, marketing and promotions, prioritising and managing beautification projects and coordinating community events aimed at encouraging business demand. The council decides how the remainder of SBR funds are spent. Mr Duc said many business owners do not feel the SBR is being spent in a way that directly benefits them. "We've got to make sure that all of the people who actually pay the levy get to have a say," he said. "If the council doesn't take notice of the business community, then we will be having a big say, and we have a bit of muscle because we're part of Business NSW and Business Hunter. "Be assured, if the answer from businesses is no and the council decides not to act on it through the BIAs, then we will be lobbying to have it [the SBR] removed." The Davidson review recommended that the council require BIAs to undertake research with membership and the community annually, or at agreed regular intervals, to assess satisfaction, impact and present the findings to the council for consideration. CITY of Newcastle will go to business owners that pay a Special Business Rate (SBR) with two questions: whether they think the scheme provides value for money, and if it should continue. Business Newcastle president Edward Duc has a question of his own: What's next if the answer is no? This week, councillors voted to survey business owners in SBR precincts about the future of the controversial scheme after several submissions to a recent independent probe into the council raised concerns about the transparency of how the funds are levied, allocated and spent. Mr Duc said feedback he has received is that a large proportion of those who pay the SBR do not see the value in the scheme. "We've got businesses, and I'm not saying this is the only reason, who are moving from Newcastle to Charlestown because of the high commercial rates," he said. "The more money that traders have to give to the council, the more it just inhibits what they can do. "It is Business Newcastle's view that the council should suspend the SBR and generate the funding themselves out of the generous commercial rates they're charging, that's our stand at the moment." City of Newcastle made $65.9 million in business rates in 2023/24 from 15,489 active businesses, the second-highest sum of any NSW council. The SBR is an additional charge levied on businesses in the precincts on top of their standard commercial rates. The Newcastle Herald asked City of Newcastle when it intends to conduct the survey and whether it intends to remove the SBR if businesses answer no to its two questions. If not, the Herald asked what the purpose of the survey is and what the council feels the value of the SBR is to businesses. Questions were also asked about the impact of the Port of Newcastle on commercial rates and the council's response to claims that SBR funds used on events should be funded by ratepayers and the council rather than business owners. In response, a City of Newcastle spokesman said following Tuesday's council meeting, the council is considering the "most appropriate" mechanism for implementing the SBR survey. "The elected council and community will be informed at the appropriate time," he said. The scheme has long been a point of contention, with some business owners questioning its necessity and others calling for it to be axed entirely. In 2024/25, the council said the cost to administer the scheme, including BIA governance and support, is $152,700. That figure is 10 per cent of total funds levied. Business Improvement Associations (BIA) in the city centre and Darby Street, Hamilton, Mayfield, New Lambton and Wallsend are independent organisations responsible for disbursing up to $100,000 of SBR funds each year. That money can be used for strategic directions to promote local business, marketing and promotions, prioritising and managing beautification projects and coordinating community events aimed at encouraging business demand. The council decides how the remainder of SBR funds are spent. Mr Duc said many business owners do not feel the SBR is being spent in a way that directly benefits them. "We've got to make sure that all of the people who actually pay the levy get to have a say," he said. "If the council doesn't take notice of the business community, then we will be having a big say, and we have a bit of muscle because we're part of Business NSW and Business Hunter. "Be assured, if the answer from businesses is no and the council decides not to act on it through the BIAs, then we will be lobbying to have it [the SBR] removed." The Davidson review recommended that the council require BIAs to undertake research with membership and the community annually, or at agreed regular intervals, to assess satisfaction, impact and present the findings to the council for consideration.
