Latest / Best of Business / Murray Olds: Australian correspondent on Emirati retail giant LuLu Hypermarket being invited to set up in Australia

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Murray Olds: Australian correspondent on Emirati retail giant LuLu Hypermarket being invited to set up in Australia · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News talks'd be follow
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• 0:17
  Speaker 2: Muriel's as he corresponds to us, Now, hey, mus.
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  Speaker 3: Get it either. You wouldn't want to cross your father,
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  Speaker 3: nor would you if.
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  Speaker 2: You Now, well, you're a boxer two, so it could
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  Speaker 2: get quite exciting, couldn't I?
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  Speaker 3: Yeah, well that's true. Yeah, yeah, yeah yeah.
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  Speaker 2: Now what are you guys doing? You're building lasers, are you?
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  Speaker 1: Well?
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  Speaker 3: This is the news story out of Canberra today and
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  Speaker 3: this is a company in Cambra called Eos. No one's
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  Speaker 3: known much about it until today, and the story goes,
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  Speaker 3: there's a brand new deal for Australia to sell a
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  Speaker 3: homemade laser, a laser that's capable of destroying up to
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  Speaker 3: twenty drones a minute, as I say, developed in Canberra
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  Speaker 3: and apparently at least one NATO countries that has bought
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  Speaker 3: it for delivering in eighteen months. It's faster and cheaper.
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  Speaker 3: The current way to get rid of drones apparently used
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  Speaker 3: to have hit them with cannons or or missiles. Now
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  Speaker 3: that this drone, you know, like a standard warfare drone,
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  Speaker 3: say a thousand dollars but it takes a half million
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  Speaker 3: dollar missile to bring it down. Eos says it's new
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  Speaker 3: laser can killer drone for one dollar a shot and
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  Speaker 3: it can knock over multiples in a minute. Now there
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  Speaker 3: is this too good to be true. So many stories
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  Speaker 3: over here, as you well know how that have been
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  Speaker 3: reported down the years about this new or this new widget,
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  Speaker 3: or you know, some other little object that's going to
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  Speaker 3: revolutionize Australia's defense industries. They all come to nothing. They've
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  Speaker 3: hyped up beyond measure. But I'll tell you what, if
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  Speaker 3: it's got any legs at all, it makes a nice
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  Speaker 3: counterpoint for Anthony Alben easy to take to the Oval
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  Speaker 3: office this month. Well in October, I beg your pardon
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  Speaker 3: to tell Donald Trump we are doing a bit more
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  Speaker 3: than you maybe are aware of.
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  Speaker 2: What is the retail chain from the Middle East that's
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  Speaker 2: going to come and break up your supermarket situation.
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  Speaker 3: Again, never heard of it until this afternoon, but apparently
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  Speaker 3: Lulu lu Lu is the biggest player in the Middle
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  Speaker 3: East in the supermarket business. Now you know it's over here.
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  Speaker 3: It's basically a duopoly. Woolworth controls almost forty percent of
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  Speaker 3: the supermarket business, Coals around thirty percent. Eldie's been here
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  Speaker 3: for if I said a decade, maybe a whisker longer.
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  Speaker 3: Heather They've got nine percent the old the German company,
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  Speaker 3: and IGA's got around the same. So a new player
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  Speaker 3: would hopefully drive down prices because, as I say, Coles
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  Speaker 3: and Woolworths have got the whole joints sewn up very
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  Speaker 3: very profitable. In fact, according to the Competition and Consumer
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  Speaker 3: Commission over here among the most profitable submarkets anywhere in
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  Speaker 3: the world. So we are paying for the nose for
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  Speaker 3: the privilege of shopping at Woolworths and Coals. Well, there
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  Speaker 3: may be another little stick the government can bash the
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  Speaker 3: big ones with. Anthony Albanezi stopped over on the way
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  Speaker 3: home from London, was given the red carpet treatment there
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  Speaker 3: in the United a rememirates and he's invited in becoming
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  Speaker 3: set up in Australia.
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  Speaker 2: And have they see years.
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  Speaker 3: I think it's too early, elbows on the way home.
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  Speaker 3: So at this point in the afternoon, I'm not sure
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  Speaker 3: if they've said yes or not, but it wouldn't surprise
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  Speaker 3: because here's the thing. They've been involved in talks for
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  Speaker 3: a while. This is like the cherry on top of
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  Speaker 3: the cake with the icing.
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  Speaker 2: Okay, let's see how that goes. I'm quite interested in that. Now,
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  Speaker 2: what's gonna happen with Optus?
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  Speaker 3: Well, Goodness knows, this is a company in buddy crisis.
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  Speaker 3: I mean this month right, they had a routine standard
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  Speaker 3: security upgrade. It was getting driven out of India and
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  Speaker 3: out of Australia and for some inexplicable reason, they think
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  Speaker 3: it's human error. But for about thirteen to forteen hours,
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  Speaker 3: the triple zero emergency call service was not working. The
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  Speaker 3: rest of the network was working. The standard calls between
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  Speaker 3: you and your husband, the children and whatnot, they were
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  Speaker 3: all working. So it wasn't for quite some time before
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  Speaker 3: they worked out the emergency calls weren't getting through and
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  Speaker 3: three people died. Another outage on Sunday just gone. Now
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  Speaker 3: Optics is in a mile of trouble, a mile of pain.
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  Speaker 3: Goodness knows what consumers think of it. If they're not
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  Speaker 3: running away at one thousand miles an hour, there's something
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  Speaker 3: wrong with them. And the federal government saying listen, you're
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  Speaker 3: a major carrier in the Australian marketplace. You've got to
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  Speaker 3: do better. You can't do this. They had another big
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  Speaker 3: outage back in twenty twenty three, another fourteen hour shutdown.
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  Speaker 3: Now good.
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  Speaker 1: You know.
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  Speaker 3: The government is insisting now on more transparency. It wants
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  Speaker 3: an external regulator to oversight the whole business, and it
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  Speaker 3: wants a hell of a lot more robust system that
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  Speaker 3: if Telstra or voter Phone or any other business is
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  Speaker 3: upgrading their security systems and for whatever reason there's a blackout,
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  Speaker 3: it automatically switches to another carrier with no webs or butts.
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  Speaker 3: You can't have people dying, Heather for want of someone
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  Speaker 3: picking up the phone to a triple zero call.
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  Speaker 2: That's a very good point that you make, Miss Thank
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  Speaker 2: you was always appreciate it. Murraol's Australia Corresponding.
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