Galt Global Review

QFS 360

June 24, 2003
business digest


Australian Roundup
by Esme Friesen

headlines:
Australian astronomer discovers new kind of galaxy
Telstra helps jumpstart electric car
Australia takes $345 million slice of Taiwan high-speed rail project
Aussie’s discover a new anti-cancer treatment


Australian astronomer discovers new kind of galaxy
An international team of astronomers headed by Australia’s Dr. Michael Drinkwater has discovered a new, very compact galaxy that could help explain the discrepancy between observation and the cosmological models used to describe the origin of the universe.

Previously thought to be stars of the Milky Way, the discovery could answer the one question that has always given astronomers sleepless nights: where have all the dwarf galaxies gone?

Considered the building blocks of the universe, scientists have found far fewer dwarf galaxies than the size of our universe suggests, however, according to computer simulations by Dr. Kenji Bekki (Sydney, Australia), these new ultra-compact galaxies could in fact be dwarf galaxies that have lost their peripheral stars.
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Telstra helps jumpstart electric car
Students from Claremont College are working frantically to bring back to life a 1985 Hyundai as a one-of-a-kind electric car.

The project, being carried out by students in a range of courses, was innovative enough to receive the $3,000 dollars it needed for the purchase of the project’s key component – the electric motor – from Telstra Country Wide.

Margaret O’Rourke, Telstra’s General Manager for Hobart and Southern Tasmania, offered the cash because “The electric car provides students with hands-on experience in a range of areas – it’s the kind of project that encourages students to learn because it is fun and interesting, and at the same time the results are visible.”

“I am very impressed by the work undertaken by Claremont College, and Telstra Country Wide is proud to be associated with the project” she said.

Telstra Country Wide is a big supporter of activities that help Tasmania’s young people develop new skills and confidence.
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Australia takes $345 million slice of Taiwan high-speed rail project
Australia’ Barclay Mowlem has signed a $165 million contract to construct a major depot as part of Taiwan’s new high speed rail line, Trade Minister Mark Vaile announced Monday.
The contract is the second for the company, which secured a $180 million contract to construct part of the track for the same project in August 2002.

Mr. Vaile said Barclay Mowlem’s success was the result of many years work on the part of the company and the Federal Government through Austrade and the Australian Railway Industry Corporation.

“The genesis of this deal can be traced back as far as 1996” said Vaile, and the fact that Barclay Mowlem had now been able to win two contracts of equal complexity was a testament to the company’s increasing reputation as a competitive exporter of superior expertise and skill in the field of rail infrastructure.

The Tsoying Depot is to be constructed on 40 hectares of land and will comprise some 31 structures, ranging from an administrative building, 350m x 50m work sheds housing six rail tracks, through to transformer enclosures.
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Aussie’s discover a new anti-cancer treatment
A new anti-cancer treatment could be on the market within three years after a breakthrough discovery by Australian scientists.

The treatment, developed by Monash University scientists, was unveiled in Washington this Monday at the BIO2003 world biotechnology conference.

It uses existing drugs to stimulate the body’s immune system and initial trials on leukemia and prostate cancer patients in Melbourne have shown improvement in a majority of the cases.

Headed by Victorian biotech company, Norwood Abbey, clinical trials will be extended to the US and Europe, and scientists are hopeful the treatment will soon be commercially available.

The treatment involves boosting the body’s production of disease-fighting T-cells with an existing class of drugs called GnRH analogues which are normally used to block the production of sex hormones in people with prostate cancer, breast cancer and endometriosis.

But Victorian scientists also found the drugs also acted to kick-start the T-cell producing thymus, a gland in the chest that shrinks after puberty.

“The fact that (the drug) had an effect on the immune system was not known to any of the drug companies who had this molecule” said Norwood Abbey executive chairman Peter Hansen.

Victorian Premier Steve Bracks, who led the state’s drive to become one of the world’s top five biotechnology cities said the technology has the potential to save millions of lives and could be worth hundreds of millions in royalties.
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