International Economic Growth
Worries Over Wage Inflation to Worsen

The Reserve Bank of Australia's concerns about wage inflation are expected to intensify, with economists predicting further pressure from the Government's industrial relations policy.

In the national labour market, wage growth is running at 4.2 percent a year after rising 1.1 percent in the December quarter, as shown by official figures.

The numbers were in line with expectations but economists believe wage inflation could break out as employers bid for workers in an economy with a low jobless rate of 4.1 per cent.

Source: Westpac http://www.theaustralian.news.com.au/story/0,25197,23248620-643,00.html

Community Involvement
Your company’s key to success

In 2005, Westpac Banking Corporation of Australia received an AAA (highest) ranking from Reputex, for being one of the most socially responsible corporations. Westpac is a strong supporter of important causes such as:

Juvenile Diabetes Research Foundation - The world's leading non-profit, non-governmental contributor to diabetes research. Their mission is to find a cure for diabetes and its complications through the support of medical research. Westpac has been involved in the annual Walk to Cure Diabetes as a National Walk Leader since 1998.
Mission Australia – Provides support for disadvantaged families and children, young people, the homeless and those looking for work. Hundreds of Westpac employees have raised funds and volunteered for Mission Australia.

Landcare Australia - a non-profit organization that works towards sustainable use and conservation of Australia's natural resources by encouraging all Australians to adopt the land care ethic and build active and productive partnerships between government, the community and businesses. Westpac supports Landcare in its efforts to improve awareness and take-up of sustainable environmental practices that protect biodiversity for the continued long-term benefit to the environment.

Source: Westpac http://www.westpac.com.au, https://secure1.impactdata.com.au/reputex/pdfs/TOP_120_Media_Release_05.pdf

Innovation
Milky Way: Bigger Than We Thought

The Milky Way - our home galaxy - is twice as thick as we thought it was, Australian astrophysicists say.

Professor Bryan Gaensler from the University of Sydney and his team have found that the enormous spiral-shaped collection of gas and stars is 12,000 light years thick when seen edge-on, not 6,000 as scientists previously thought.

The researchers made their discovery without high-tech equipment or powerful telescopes. Instead, they downloaded publicly available data from the Internet and carefully analyzed it.

Source: About.com http://www.abc.net.au/news/stories/2008/02/20/2167853.htm?section=australia

International Advocacy
Facts of doing international business

The smallest continent, the largest island, the country that is itself a continent, Australia is home to two types of crocodiles: Estuarine or Saltwater crocodiles, commonly referred to as Salties, and Freshwater crocodiles, also known as Johnsons or Freshies. Both are extremely dangerous, however, Freshies are not known to attack humans unless provoked, while Salties are known to attack anyone regardless of provocation
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While English is the official language in Australia, an additional estimated amount of 200 other languages, including Aboriginal languages are spoken, but only by a small percentage of the population. And of course, the English that is spoken is what the natives call Aussie English.

When doing business in Australia, keep the small talk to a minimum. Modesty is key; do not boast or brag about any of your accomplishments, and avoid using overly aggressive negotiation tactics. Although small talk should be limited, do not be afraid to break the ice by talking about sports or sightseeing. Do not be offended if you are teased; this is usually done in a friendly manner and you may tease back in the same way.

Source: Executive Planet www.executiveplanet.com

Australia Live

World News Australia http://www.worldnewsaustralia.com.au/

Yahoo News http://au.news.yahoo.com/
RSS http://au.rss.news.yahoo.com/top_stories.xml

BBC News http://newsvote.bbc.co.uk/1/hi/world/asia-pacific/default.stm
RSS http://newsrss.bbc.co.uk/rss/newsonline_uk_edition/world/asia-pacific/rss.xml

New York Times http://topics.nytimes.com/top/news/international/countriesandterritories/australia/index.html
RSS http://topics.nytimes.com/top/news/international/countriesandterritories/australia/index.html?rss=1

ABC Online http://www.abc.net.au/

The Australian News http://www.theaustralian.news.com.au/

ComCast http://www.comcast.net/news/international/australia/

Blooomberg http://www.bloomberg.com/news/regions/australianewzealand.html

World Newspapers.com http://www.world-newspapers.com