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Saturday 11th May 1996

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International:

Interest rates look even more likely to fall with Reserve Bank chief Bernie Fraser yesterday arguing that Australia had successfully got inflation under control. In a speech delivered in Singapore Fraser rebuffed claims that Australia should lock-in low inflation by law like New Zealand does.

Political:

Prime Minister John Howard won through with strong anti-gun lobby laws with the support of the nation but with dissention from the tiny minority group that would allow the carnage, like the recent Port Arthur massacre to continue.

Howard met with the State Police Ministers and with their support was able to introduce some of the strictest gun control laws in the world. The new laws adopted are:

Interesting isn't it that the Labor Party derided John Howard as a weak leader. Howard has tackled head-on the rorts in the Aboriginal funding area, Keating didn't. Howard has now scored a major political victory over the gun lobby. I wonder what Keating would have done?

Business:

Work on Korea Zinc's Au$500 million smelter project at Townsville - one of a dozen major resource-based projects planned for north Queensland could start before the end of the calendar year. Korea Zinc, which is one of the world's leading metal producers, plans to buy zinc concentrate from north-west Queensland nased and other Australian mines for processing at a state of the art smelter in Townsville.

Sport:

The Brisbane Bears, the wooden spoon holders in the Australian Football League, for the last few years, have had a major turnaround winning more matches in their past six games this season than they did in their 1990 to 1993 collective campaigns!

The Bears have won five out of their first six matches and should perform very well tonight against Hawthorn.

Personal trivia, from the global office:

A very successful morning in the big smoke yesterday. Last night we sailed on the Kookaburra Queen with friends, Martin and Penny Cloete and Tony and Linda Woods. We have now started work on the web site of Queensland's biggest company, Mt Isa Mines, and will be making a major announcement to the restaurant industry as well as to winers and diners everywhere next week.


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