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Thursday 19th September 1996

International:

Prime Minister John Howard begins the second leg of his first major overseas trip today when he holds several meetings with business groups and Japanese government ministers in Tokyo.

Mr Howard, who arrived in Tokyo from Jakarta last night, is anxious to outline his Government's economic and industrial relations reforms to Japan - Australia's main trading partner.

He is also expected to push for concrete signs of commitment by the Japanese Government to the APEC free trade agenda, particularly in agriculture.

Political:

Aboriginal Affairs Minister, John Herron, was not legally authorised to direct ATSIC how it should fund Aboriginal and Torres Strait Islander organsiations, the Federal Court unanimously ruled yesterday.

The Full House of the Federal Court ruled that Senator Herron's directions in April that ATSIC was not to make any grant without the special approval of the Special Auditor no force or effect.

The decision throws into doubt the status of more than 1,000 audits of indigenous organisations around Australia.

Yesterday's ruling follows ATSIC's decision on Tuesday to axe funding to the New South Wales Aboriginal Legal Service - which had brought the challenge against the validity of the Aboriginal Affairs Minister's directions.

Business:

Kerry Packer was playing the stock markets in grand style yesterday - with the Crown Casino, in which he had a 15% share being the big loser. Packer dumped his stock at Au$2.72 sparking fears among share holders that the stock was overpriced. Crown dived 19 cents wiping Au$95 million from the value of the stock.

Speculation is that Packer is going to use the Au$204 million raised from the sale to mount a bid for the poorly performing Sydney harbour Casino or its largest shareholder and manager, US company Showboat Inc.

Showboat shares rocketed 12% overnight to US$22.37 with turnover increasing by 400% - while Sydney Harbour Casino shares leapt 13 cents to Au$1.85 before settling at Au$1.78 after 2.1 million shares were traded.

Social:

Homosexuality may be the big hidden factor in the soaring rate of youth suicide in rural Australia according to a report published in a central Queensland journal.

It said antagonism towards homosexuality in the country put intolerable pressure on young men who were struggling to come to terms with their sexuality.

The report, which surveyed a series of international studies on suicide and homosexuality, said most young men in rural Australia who killed themselves might be identify themselves as gay.

"The age of highest incidence of men's suicide among young men, 17 years of age, is no coincidence. Seventeen might well be the age when earlier confusion over sexual identity is (for better or for worse) finally dispelled.

Personal trivia, from the global office:

Went for a row in the Brisbane River on Bootlebumtrinket this morning... absolutely fabulous day with a warm night and hot temperatures expected this afternoon. One to be enjoyed in the Global office.

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