Peter Costello has been nominated to join the board of the Cormack Foundation by the Victorian Liberal Party, replacing former Prime Minister John Howard and former senator Richard Alston.

Costello, who previously oversaw Australia's Future Fund, which is now valued at $272 billion, has stepped down as chairman of Nine to take on this new role.

The Cormack Foundation's board includes notable figures such as Charles Goode, Allan Myers KC, and Fred Grimwade, reflecting its influence within the Liberal Party.

The International Institute for Counter Terrorism organized a summit that featured a diverse guest list, including former Prime Minister Scott Morrison and various Liberal Party figures.

Attorney-General Mark Dreyfus was scheduled to speak at this counter-terrorism summit in Israel but canceled his trip due to escalating tensions and missile attacks from Iran.

The summit, which was set to include multiple high-profile Australian politicians and journalists, was ultimately called off following the missile attacks.

In other news, Chinese developer Heworth Holdings Group is moving forward with a $285 million project that will include 227 apartments, with 59 designated as affordable housing.

Heworth has begun demolition work at the site while awaiting approval for their revised application and the outcome of a compensation claim against the government.

In Sydney, construction has finally commenced at the long-neglected Balmain Leagues Club site after more than a decade of failed development plans.

In political developments, Jo Briskey, a former unionist from Queensland, has faced criticism from local Labor members for her perceived lack of community connections.

Despite the criticism, Prime Minister Anthony Albanese has publicly endorsed Jo Briskey as the replacement for retiring minister Bill Shorten in the Maribyrnong electorate.

The invitation extended to One Nation leader Pauline Hanson to the summit sparked controversy regarding the event's political tone.