Economy: Mixed signals confuse economy
Australian economists cannot decide if the economy is
slowing down, or beating the global trend by experiencing
modest growth.
A series of survey results released last week ran the
gamut of predicting immediate recession to outlining
how the economy is in the best shape it has been in
for two years.
The doomsayers, led by the Westpac/Melbourne Institute
Index, blamed the tragic Bali bombings, a prolonged
drought gripping much of the country, a falling Australian
share market, and American war spending, for the six
per cent drop in consumer confidence during the month
of September.
At the other end of the spectrum, the National Australia
Bank's survey of business conditions hit its highest
ranking since 1999, with household spending cited as
the key driving force. The survey found Australian business
and consumer confidence remained robust in the face
of global equity market drops and a questionable world
economy.
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Business: Bad blood amongst
the winemakers
Southcorp, a massive company that all but controls Australia's
export wine industry, is in trouble as its share price
falls and its management squabbles.
Accustomed to being the jewel in the Australian wine
export crown, the large vintner has come under scrutiny
from its shareholders, wine buffs and the press since
purchasing the Rosemount Estate from the Oatley family
for AUD$ 1.5 billion.
In a reverse takeover, the Oatley family has upset
the former management and marketing directors of Southcorp,
causing enough fuss to force many of Southcorp's top
people to resign.
The "Australian Business Review Week" reported
Southcorp's top winemakers have resigned under the new
management, and that its share price fell by three dollars.
Analysts will keep watch to see if the Oatleys can
win confidence by proving their techniques and marketing
ideas do in fact work.
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Law: Tribal law formalized
in northern Australia
The precedent setting Indigenous Parliament spent the
past three months codifying traditional aboriginal law
for Arnhem Land, located in the far north of Australia.
Arnhem Land tribal elders from over 20 tribes met on
Elcho Island to discuss tribal law and to draft their
first constitution.
They hope the meeting, called the Ngarra Ceremony,
will establish a set of laws, which may be used to teach
young Aborigines the structure of traditional society.
They also hope the meeting will begin the process of
revitalizing an understanding of local tribal traditions.
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Viagra gives rise to hope for endangered species
An Australian researcher believes the success
of Viagra could be responsible for saving many species
now on the endangered list - but he isn't going to be
force feeding the drug to animals in the hopes of stimulating
a breeding frenzy!
Dr. William von Hippel, at the University of New South
Wales, believes the increased popularity of Viagra,
especially in China, is directly responsible for saving
populations of the plant and animal species commonly
used in Traditional Chinese Medicine (TCM) for their
reputed effect on impotency.
"Although potency treatments represent only a
small percentage of the use of threatened species in
TCM, they are disproportionately important because of
the prevalence of erectile dysfunction, and the amount
of money men are willing to pay to treat the condition"
says von Hippel.
In their report, recently published in the journal
"Environmental Conservation", von Hippel,
and his brother Frank of the University of Alaska, suggest
the rise in the use of Viagra may be benefiting the
population of seals, deer, green turtles, sea cucumbers,
pipefishes, sea horses and gecko's.
According to their study, the demand for Canadian reindeer
antler velvet and seal genitalia fell significantly
after the introduction of Viagra. Specifically, sales
dropped from 50,000 units in 1996 to fewer than 20,000
in 1999, after Viagra became available to Chinese consumers.
The team believes demand for endangered animals will
further decrease as more people realize Viagra is cheaper
and more effective.
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Health: New hip, less trouble
Patients awaiting hip replacements could face a less
intrusive surgery thanks to the pioneering efforts of
an Aussie doctor.
New South Wales's surgeon Eugene Sherry demonstrated
a new way of replacing hips this month at the Australian
Orthopaedic Association's Annual Scientific Meeting
in Melbourne.
Unlike the current procedure, his new method replaces
the hip through a five-centimetre incision along the
back of the joint, instead of a 25cm incision at the
front.
Even though the surgery involves specialized instruments
and is more difficult to perform, Dr. Sherry says his
operation allows patients to walk sooner and suffer
much less pain.
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