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Tuesday 21st May 1996

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International:

Qantas Ltd are battling to sell their five tropical islands at a break even price. It was revealed yesterday that Daydream Island recently sold for only Au$22.5 million after being under the control of a syndicate of banks who were collectively owed Au$90 million from the redevelopment of the resort in the late 1980's.

The islands controlled by Qantas are now facing the same predicament with the five star islands of Lizard and Bedarra and the family oriented Dunk, Brampton and Great Keppel Islands having to be discounted to be sold.

Political:

Prime Minister John Howard will push ahead with his planned changes to the Native Titles Act despite determined opposition from 30 of his own backbenchers and the National Farmers Federation.

A revised discussion paper on the Government's Mabo proposal reaffirmed Howard's opposition to legislating to extinguish native title - the route sought by the rebel back benchers.

The discussion paper, Towards a More Workable Native Title Act, confirms the former government's view that a legislative approach to the pastoral lease question could breach the Racial Discrimination Act and lead to a huge compensation payout.

Business:

Lion Nathan Limited will spend Au$170 million on a new brewery in China in a long awaited move aimed at building a premium end to the region's beer market. Lion said that the brewery would initially produce about 200 million litres of beer annually but that there was the potential to double that capacity.

Sport:

New South Wales soundly beat the Queensland maroons in the first of the rugby league State of Origin matches 14-6. The New South Wales Blues led all the way in a game which did not reach any real heights. For the first time in many years the match was not sold out with ticket sales at the Suncorp Stadium reaching 39,348.

The commentators were lamenting the fact that the rugby followers appeared to have shifted camp to follow the popular Super 12 series which comes to an end this weekend when Natal play Auckland in New Zealand.

Personal trivia, from the global office:

Another picture perfect day today with the sun shining and warm temperatures ahead of us. I will be enjoying the global office once again. Oh happy day!


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