Australia's players and the country's governing body have been involved in discussions since Friday but have yet to reach an agreement on a new Memorandum of Understanding (MoU), the Australian Cricketers' Association (ACA) said on Saturday.
Australia's "A" tour of South Africa has fallen victim to the drawn-out pay dispute with the squad deciding not to travel in the absence of a revised deal.
With talks between the union and the governing body deadlocked, around 230 players were left effectively unemployed when the previous five-year agreement expired at the end of last month.
"The ACA confirms that agreement has not been reached for a new MoU," the union said in a statement with its Chief Executive Alistair Nicholson, calling for urgency in negotiations with the players already unemployed for two weeks.
At the heart of the acrimonious dispute is Cricket Australia's insistence that the two-decade-old model, under which players get a fixed percentage of revenue, should be jettisoned.
Cricket Australia believes the revenue-share model is unfit for modern times and is starving grassroots cricket of funding, while players say it has underpinned the game's growth and prosperity over the past 20 years.
The ACA, however, welcomed the latest round of talks, believing it has boosted hopes of an imminent resolution.
"The increased involvement of CA CEO James Sutherland has been pleasing," Nicholson said. "A better understanding has been established on both parties' positions."
The senior Australia team is scheduled to play a two-test series in Bangladesh in August and September, before a limited-overs tour in India and then the Ashes at home against England.
* Reuters
SPECS
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Virtual banks explained
What is a virtual bank?
The Hong Kong Monetary Authority defines it as a bank that delivers services through the internet or other electronic channels instead of physical branches. That means not only facilitating payments but accepting deposits and making loans, just like traditional ones. Other terms used interchangeably include digital or digital-only banks or neobanks. By contrast, so-called digital wallets or e-wallets such as Apple Pay, PayPal or Google Pay usually serve as intermediaries between a consumer’s traditional account or credit card and a merchant, usually via a smartphone or computer.
What’s the draw in Asia?
Hundreds of millions of people under-served by traditional institutions, for one thing. In China, India and elsewhere, digital wallets such as Alipay, WeChat Pay and Paytm have already become ubiquitous, offering millions of people an easy way to store and spend their money via mobile phone. Indonesia, Vietnam and the Philippines are also among the world’s biggest under-banked countries; together they have almost half a billion people.
Is Hong Kong short of banks?
No, but the city is among the most cash-reliant major economies, leaving room for newcomers to disrupt the entrenched industry. Ant Financial, an Alibaba Group Holding affiliate that runs Alipay and MYBank, and Tencent Holdings, the company behind WeBank and WeChat Pay, are among the owners of the eight ventures licensed to create virtual banks in Hong Kong, with operations expected to start as early as the end of the year.
Calls
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Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
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