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(generated from captions) can a chiropractor, can spinal

manipulation treat these

conditions? Now, I question the

evidence on this, in my

article, I used phrases like

sometimes chiropractors are

fundamentalists, they have some

whacky ideas, so I think my

view is a chiropractors have

very odd views, I don't think

they necessarily understand the evidence fully or appreciate

the evidence fully or the lack

of evidence perhaps, and,

therefore they are promoting

treatments which I don't think

are necessary, should be

promoted. That's the crux of

what I was writing. I wrote

that in a national newspaper

because I think parents should

be aware of the lack of

evidence, in order that they

can make the right decisions,

and that perhaps some societies

ought to rethink what they

promote in light of the lack of

evidence. I think it's a matter

of public interest which again

is worrying that the libel laws

can infringe on some of these

articles being written. The

core was about the treatment of

children. Our viewers have seen

footage of American

chiropractors treating children

and babies, including

and babies, including the

classic neck manipulation.

Here is my question. Do you

believe, looking at the

evidence that you have seen,

that chiropractors should be

allowed to treat children and

babies? I think not for these -

it's a balance. It's a balance

of what are the benefits and

how lightly - likely are they

to be real, what are the risks

and how likely are the risks to

be real. When we look at the

evidence for benefits for let's

say asthma, there's been good

clinical trials, three in

the 'New England Journal of particular, one published in

Medicine', those clinical

trials do not suggest that chiropractic is effective in

the treatment of asthma, that

spinal manipulation can help

children with as moe, there's

no biological reason, and the

evidence reinforces that evidence reinforces that view.

What are the risks, they are

hard to pin down, I don't think

necessarily there's been enough

research down to show the risks, there's definitely

evidence of minor pain

associated with spinal

manipulation, minor bruising

and so on, that's not

particularly serious or

worrisome. There's evidence worrisome. There's

that suggests that manipulating

the top of the spine, the neck

can cause serious damage, those

effects will be rare, but they

are obviously serious, stroke,

peble death and we don't really

know - we don't know how big

that risk is, it's poorly

studied. In light of the

potential risks that we don't

know much about, and in light know much about, and in

of the lack of evidence of

benefit I would say

children for these chiropractors should not treat

conditions. In your book you

cited 2001 study done by

researchers in Britain showing

working with the asoegs of

British neurologists, what did

that show, it conflicts with

the general claim made by

chiropractors that it's a one

in a million chance of a

problem or in the case of Australian Chiropractic problem or in the case of the

Association, they say it's a 1

in 5.85 million chance of a

problem. I think what that

particular study highlighted

was - it looked into - it asks

specialists whether they'd come

across cases of stroke or

following a visit to a

chiropractor, and I think

perhaps 70 cases were reported perhaps 70 cases were

back to the researcher in

question, a friend and

colleague of mine. Those cases

had not been documented

elsewhere. Now what that elsewhere. Now what

implies is that there's a lot

of risks associated with

chiropractors that aren't

documented, because they are

not documented and evaluated necessarily, then the estimates

of 1 in a million or one in 5

million are underestimates of

the true risk. I think there

needs to be a lot more research

done, if we look at

conventional drugs and

therapies, there's risks

associated with many of those,

but those risks have been

really well pinned down so that

when a conventional doctor

talks to a patient there can be

a formed discussion of risks

and benefits. In chiropractic

benefits are small in many

cases if non-existent and the

risks are unknown. That's the

worrying think. Going back to

what chiropractic may be useful

for. Obviously there's benefit,

it's claimed for back problems,

but there's a sort of split

within the chiropractic

community over the level of

benefits, we saw in the

background film that one of the

Cairo prac terse says it's

wrong for chiropractors to

suggest that they can use their

therapies helping a wide range

of children's ailments, yet

it's fine to use it for back

ailments, that split has a very ailments, that split has a

long history, doesn't it, in

chiropractic. Yes, it goes back chiropractic. Yes, it goes

to the inventor, the pioneer of

chiropractic Daniel Palmer,

around 100 or so years ago, he

was something of a maverick,

magnetic healer was one of his

talents. He claimed that the

first person he treated with

chiropractics, spinal

manipulation was a jantor who

was deaf. The second person had

heart problems, he believed

that he could treat any

condition because - by spinal

manipulation, because it

through to the rest of the carries the nervous system

body, if you have a problem

with your hearing, he believed with your hearing, he

it was due to a blockage in the

nervous system, probably in the

spine, if you manipulate the

spine, you free up nervous

system, you allow the innate

energy to flow through the body

and recover more easily.

Because, as I says, the nerves

tap through to the rest of the

body he thought he could treat

the entire body for almost

every condition. Modern

chiropractors moved away from

that, focussing on the back,

manipulate the spip, treat the

back, sounds - spine, treat the

back, sounds reasonable. A

minority, maybe not a minority,

maybe it's a split. Some

chiropractors treat childhood conditions, colic, ear

infection, so on. Others will

claim to help patient ward off

things like swine flu,, you

have bizarre notions in some

quarters, some odd notions

going on in some quarters, and

then what I would call more

conventional chiropractors who conventional chiropractors

realise what they are good at,

if anything, this is somewhat

debatable is the back. Dr Simon

Singh, the jury is out

obviously, as they say on how

much benefit you get from

chiropractic treatment, as it

is on the libel case against

you, good luck with your

appeal, we'll see you next

time. Thanks for joining us. My pleasure, thanks a lot.

The Federal Government is

months away from new laws it

hopes can be used against

organised crime including

bikkies, proceeds of crime

lepingz will make it easier to

conifies - legislation will

make it easier to confiscate

houses and cars from drug

lords, packaging heavyweight

Visy uses a truckie company

Visy uses a truckie company run

by a convicted drug trafficker

and senior figure in Hells

Angels outlaw motorcycle

canning. The Cadpro trucking

company in Melbourne's northern

suburbs on a quiet day, Visy

trailers, and they pay the

company tens of thousands every

year. A senior figure in year. A senior figure in the

Hells Angels runs Cadpro, the

age revealing in 2007 Steve

Rogers was sentenced to three

years in jail for drug

trafficking. Inside his Visy

jacket police found two large

packets of the illegal drug

speed and seized chemicals and

found plans for a speed

laboratory. Steve Rogers handed

over his company while in

prison, he's on home detention,

it's believed he handles the

contract with Visy. Businesses

need to be careful who they do

business with. Victoria's top

cop didn't comment on the bikie

connection and Visy says it's

concerned with eagle activities

and repeated an offer to

cooperate with any investigation, Visy says it

will continue to do business

with Steve Rogers's company.

Unlike other states Victoria

has no dedicated taskforce

targetting bikies. Outlaw

motorcycle gangs per se are not

a problem. Certain outlaw gangs

are, certain individuals within

outlaw motorcycle gangs are are

problem. We have eight separate

investigations into people

connected with or associated

with outlaw motorcycle gangs in

Victoria. We work on them all

the time, we'll continue to, we

don't run around telling

everyone about it. One group of

Victoria detectives, Taskforce

Santiago may target some bikie

gangs in future. In NSW dozens

of bikies have been arrested

following a bashing death following a bashing death at

Sydney Airport and will be

targeted by new Federal laws

where drug lord suspects will

have to show how they

accumulated their wealth. I

think the motorcycle gangs are

the publish face of organised

crime. More than likely, and the organised and the organised and serious

figures in this country is a

male living in the eastern

suburbs of Sydney with a number

of Rolls Royce, or Bentleys,

who attends charity functions,

who is a pillar of who is a pillar of society,

they are the people that we want to go after in the

legislation. A former Chief for

the Transport Union Steve

Hutchins chairs committee that

pushed for the new laws and

monitors organised crime.

Without commenting on Visy, he

says business has to be

careful. In careful. In this global

financial crisis we have seen

evidence overseas where

legitimate businesses are

seduced by organised crime

figures because they have easy

access to cash. That is something authorities are

already on. The new laws due by

the end of the year mean police

no longer have to prove the

assets are linked to a specific

offence. The test is no longer

the one for criminal tests,

it's a civil one, that is it

it's a civil one, that is it a balance of probability

. Suspected criminals will have

to show that their wealth comes

from legal activities. In late

breaking news a former breaking news a former US

Defence Secretary Robert

McNamara died, he was Defence

Secretary for seven years under

Presidents Kennedy and Johnson,

the former head of the former head of the Ford

Motor Company was regarded as a

key architect of the Vietnam

War. And also in the fog of

war. Now to the weather: That's

all from us, Lateline Business

coming up in a moment. If coming up in a moment. If you'd

like to look at the interview

with Dr Simon Singh, and the

story by Steve Cannane, or

review other stories or

transcripts, you can visit transcripts, you can visit our

web site

Now here is Lateline Business

with Ali Moore. Thanks, tonight

- the Rio sell-off continues,

as it offloads Alcan's as it offloads Alcan's US

packaging division. This is

only probably about a third of

the packaging businesses from

Alcan that Rio wants to

offload. Job ads take a

nosedive, but there's an

upside. We are seeing corporate

Australia continue to hold off

on hiring new employees, the

good news from the official

figures is that there seems to

be a lot less evidence of

labour shedding going on. Doing

business in Australia, the Islamic way.

To the markets - Australian

shares started the week in the

red, led by losses in the

mining and energy mining and energy sectors.

Last week's declines the All

Ords shedding 1%, the ASX 200

followed suit. In Japan worries

about the health of the global

economy saw the Nikkei drop economy saw the Nikkei drop 1%,

Hong Kong's Hang Seng lost a

similar amount and the FTSE

weaker. Rio Tinto begun hiving

off the undesirable businesses

it inherited as part of $43

billion takeover of Alcan,

selling the US arm of food

packaging business to Bemis,

it's been selling assets to pay

down its massive debt. Desley

Coleman reports. Rio's efforts

to lighten the debt load on to lighten the debt load on its

balance sheet continue. Last

week it was a $19 billion

equity raise, this week the ink

driving on a $1.5 billion for

the sale of Alcan's Food

America division. I think under

the circumstances given the

business is going through a

cyclical downturn and bearing

in mind there are few buyers

capable of stumping up that

kind of money, the outcome is

very good. The international

food and beverage packaging

business makes thermal formed

trade for food, plastic bags

and containers, in a and containers, in a statement

to the Australian Securities

Exchange Rio Exchange Rio Tinto's Chief

Financial Officer Guy Elliott

said the sale of the Food

America is the first

significant step in reducing

the asset portfolio acquired

with Alcan. Rio had made the

point that it was going to

sell-off the non-core Alcan

assets, and, indeed, this is

part of that process. The $1.5

billion deal was done with

global packaging climate Bemis

Company, the US packager paying

Rio $1.25 billion in cash, the

balance in Bemis stock. It

could be reflective of the fact

that Bemis didn't want to pay

100% of the price as cash or it

could just be symbolic that Rio

thinks that this is - they are

selling a quality asset and

they have scib in the game so,

it gives Bemis comfort. This

year Rio raised nearly $5

billion in asset sales, it's

offloaded an aluminium smelter

in China, it's Brazilian iron

ore operation and is completing

the sale of the sale of the Jacobs Ranch

Coal Mine. Rio has also Coal Mine. Rio has also flagged

its intention toss sell the

rest of Alcan's packaging

businesses and the engineered

product operations. This is

only probably about a third of

the packaging businesses from

Alcan that Rio wants to

offload. It's probably a higher

margin portion in what is a

lower margin business over

all. I think what we have is

the remainder of the Alcan

packaging business, and it's

expected that Amcor will

take-all or part of the

remainder there. That sale is

yet to be confirmed. The value

that they can get for that is

still up in the air a

bit. Australian packaging company Amcor did not company Amcor did not return

Lateline Business calls but

analysts are suggesting the

rest of Alcan's

rest of Alcan's packaging

assets could fetch around 1.8

billion. While today's sale is

locked in, Rio's iron ore

negotiations with the negotiations with the Chinese

steel mills are dragging on,

Rio said today that the Chinese

are paying spot prices which

are currently higher than the

benchmarks set by the Japanese.

Rio is continuing to deliver

all the iron ore it can. The

Australian share market hit a

five-week low. For his thoughts

on the day's trade I spoke

earlier with Charlie Aitken earlier with Charlie Aitken of Southern Cross

Equities. Charlie Aitken, no

lead from Wall Street, but our

markets managed to start markets managed to start the

week down. Yes, we had no leads

from offshore, there's a little

bit of a sloppy tone at the

moment, right in the middle of

the Northern Hemisphere

holidays in the US and United

Kingdom, Wimbledon on, things

are quite. Our market is

looking for direction,

consolidating moves off the

lows, we are awaiting where to

go. We heard Rio is selling its

American food packaging assets,

that didn't stop Rio moving

lower as well. That was good

news for Rio, the market has

been waiting for them to

dispose of the packaging assets

inherited from Alcan. Rio is

going through in digestion to

do with the rights issues.

They'll do better, they got They'll do better, they got rid

of the chairman, moved away

from the Chinalco deal, did a

joint venture, iron ore, copper

is better. Rio Tinto shares

will head in the right

direction. Why do direction. Why do you think

they were down. It's a they were down. It's a reaction

to the clearing of the rights

issue overhang, and they were a

little weaker in London Friday

night. On the upside it was a

good day for infrastructure

stocks, ConnectEast were up 5%,

am I right in saying there's

take over rumours around around

that group. One of the breaking

firm Swiss are said it may make

sense to bid for it.

ConnectEast controls a piece of

Melbourne infrastructure,

Transurban could bid for Transurban could bid for them.

They are 30 cent, 5 cent is one

or two cent. Macquarie Airports, Macquarie

Infrastructure, Transurban,

ConnectEast - there's a little

bit of interest. Bank stocks

didn't farewell, some did

better than others. NAB tried

hard, they've been pressured by

the DRP pricing, where they

sell, like, a million shares a

day, it's been punished for CDO

exposure. Private equity is

trying to buy CDOs and other

mortgage obligations off the

banks, it could help NAB,

writing up the CDOs it's

written down. NAB is seeing

support, and has been the lag

art of the sector. Charlie

Aitken, we started on a low

note on a Monday, is

note on a Monday, is that

indicative of the week ahead? I

think we are consolidate ing

before a higher move. It had a

good bounce off the lows, as

the summer in North America

comes to an end, the data will

be better. We are looking for

better data from America, when

we get confirm aches, the

market will do better, we are

having a calm moment before we

move higher. Always a glass

half full. Thank you for

joining us. Other major movers

- energy companies slid, with a

decline in the price of oil.

Santos closing 4% lower,

retailers under retailers under pressure,

Harvey Norman dropping 4.5%.

Steelmakers no Steelmakers no better,

BlueScope Steel slid BlueScope Steel slid 4%,

Leighton Holdings defied a

trend announcing it won a $300

million contract in India.

Prices have fallen on

commodity markets, gold 1%

cheaper, in New York crude oil

trading below 64 US a barrel.

On the London metal exchange

copper fell 3%.

Today's job advertisement

figures revealed a weaking

labour market highlighting how

far the economy needs to go

before there are signs of

recovery, a survey by the ANZ

Bank reveals job ads in

newspapers and the Internet

fell for the 14th straight

month, and as L'Ange Pass

reports, the figures don't re reports, the figures don't re -

L'Ange Pass reports, the

figures don't re - as Philip

Lasker reports they don't

reveal the full extent of the problem. Job ads have fallen

for 14 straight months.

There's been no recovery for

stabilisation in the demand for

Labor. The number of newspaper

or Internet adds fell 7%, 51%

lower for the year. The scale

of this deterioration has yet

to be reflected in the

unemployment figures. We are seeing corporate seeing corporate Australia

continue to hold off on hiring

new employees, the good news

from the official figures is

that there seems to be less

evidence of labour shedding

going on. A lot of firms keep

labour, it costs to hire and

fire employees, they are

hoarding labour , rather than

get rid of them they are hoping

for an upturn and they'll

re-employ them. During the

downturn hours worked

represented by the orange line

fell sharper than employment,

the yellow line. Unemployment

is seen as understating the

problem. What you get is people

not being able to work near the

hours they want. So the

unemployment figures radically

down play the trend, and

down play the trend, and there

have been people attempting to

estimate it, both the ABS and various other groups, and their

estimate is that if you look at

unemployed hours, rather than

unemployed perps, it may be out

by a factor of three. In other

words the unemployment rate is

up to three times higher if it

included those that don't have

enough work. It will be in the

mix when the rank considers

interest rates tomorrow, as

will the latest inflation measure, measure, the TD Securities

Inflation Gauge rose 0.4% in

June, with the annual reading

easing slightly to 1.4%. It

suggests inflation won't be an

impediment to rate cuts. The

jobs outcome is seen as critical to the critical to the future

direction of interest rates, if

the jobs market deteriorates

more than expected, interest

rates could be cut. If it

proves more resilient rates

could well go up. So far

corporate Australia is holding

on to its labour force, it

isn't shedding jobs like it

would in a recession, it's

keeping a floor under demand in

the economy. In the next six

months, if this trend continues

the economy will escape a

milder session, we may not

experience a technical

recession of any sort. It could

be a lag, we could see the job

losses come through as fiscal

stimulus wans, it could set

expectations back to recession

and rate cuts. Which why and rate cuts. Which why the

Reserve Bank is expected to

leave interest rates where they

are. The global financial crisis

will take top billing again at

the latest meeting of world

leaders, this time the G8

Summit in Italy, getting under

way this beak week, Britain,

Canada, France, Germany, Italy,

Japan and Russia to discuss

Government responses to the

crisis, and debate whether it's

time to start winding back

official spending, official spending, Australia's

Prime Minister Kevin Rudd will attend the attend the 17-nation Major

Economies Forum, which is held

on the sidelines of this week's

summit, but with none of the emerging market economies

represented at the G8 and the

focus shifting to the G-20 the

relevance of the G8 is

questioned. To discuss the

coming meeting I'm joined from

London by Jan Randolph head London by Jan Randolph head of

Insight. Welcome to the Sovereign Risk, of IHS Global

program. Thank you for having

me. Last time we spoke on the

program was to preview the

first summit of the BRIC

nations, Brazil, Russia, India

and China, only Russia, of the

emerging economies had a seat

at the G8, it prompted many to

ask relevance of G8 in 2009.

Have they, in a way, had its

day, the G8? It's a good

question. I think G8 is a

longer established club, if you

like, with regular meetings

going back many years. The G-20

was a landmark, it seemed to

have the greater relevance,

bringing in emerging powers,

China, India, Russia, Brazil,

countries that contributed a

lot to global growth and trade

and are the future for global

growth, a growth driver. G-20

seems more relevant institution

to tackle the global issues on the agenda, whether it's

climate change, it's a

synchronised recession, truly

global one, these global issues

should be on a wider for U. It

seems relevant. How much does

it help the fact that there's a

major economies forum on the

sidelines of the G8, while it's

only 8 country in the G8 many

others take part in sideline

conversations. Yes, I think if

you put the two together then

you have the relevance. G8 -

the rich country club - can

talk to each other about

current policies, coordination

is important. Everyone

recognises only coordinated

policy will create the

necessary coverage, if you

like, everyone working in the

same direction, they'll be

comparing notes, there are

issues to do with the emerging

markets. They have a lot to contribute, and they are

contributing, China has bun of

the biggest fiscal stimuluses,

and it's growing, their growth

is important to restart the

global economy. You talk about

coordinated action amongst the

rich nation, the scene has been

set for a vigorous debate when

next for Government stimulus,

you have Germany, warning about

the need to wind back, and the need to wind back, and to

reign in Government debt and

the US and United Kingdom

worning do that now at your

peril. It's interesting. A lot

of bigger economic questions

usually boil down to a debate

between the Americans and the

Germans, they have slightly

different attitudes. The US is

at the forefront on the need to

- for governments to come in,

fiscal stimulus to hold the

course, monetary stimulus on

top of that and sort out the

banking system. It's

three-pronged. You know, they

say - all we have so far is a

slowing of the rate of

contraction, we are entering a

period of uneasy stability. We

are not in a recovery yet,

that's a long time to wait.

Recession by definition means

household demand has fallen,

consumers have been on strike

since September, western middle

class consumers aren't buying

the bigger ticket items leading

to a collapse in global trade

by 10-20%. You have the

Germans fearful of what the US

fed are doing and the Bank of England and the England and the European

Central Bank in a different

way, this extraordinary

monetary stimulus, some calling

it - the balance sheets of it - the balance sheets of the

Central Banks are Central Banks are exploding,

they are making up essentially

for the contraction in the

private sector banking world

and the Germans are worried if

the Central Banks start

indirectly or directly buying

Government debt to finance huge

deficits you store up a huge

problem in the future in terms

of inflation. Who wins. Who

winces? In the end with the

communique, who holds sway? I

and United Kingdom will lead think real politics is the US think real politics is the

the way. I mean the US is still

the largest economy in the

world. They hold the reserve

currency, you know, they have a currency, you know, they have

number of trump cards here. All

the Germans can do is warn.

They themselves though - they

don't necessarily always walk

the talk, they themselves have

got a fiscal stimulus of quite

a sizeable one, they,

themselves recognise that, you

know, we need to get global

economy back on track. All they

are saying is - they look to

the future a bit more than the

present saying, "Let's be

careful about the future, make

sure we have plans in place for

the medium and long-term to

rein back public rein back public expenditure,

reign in back monetary

stimulus, quanttive easing,

we'll create problems if we

hold out too long", the key

thing is making sure that the

global economy is back on its

feet essentially and beginning

to grow, that means fixing the

banking systems and the Germans

have a lot of work to do there

in their own quarter at home.

Until all that happens, then

it's appropriate to start

shrinking the Central withdrawing the stimulus and

shrinking the Central Bank's

balance sheets. If we have a

quick final look at the major

economies forum, an initiative

announced by President Barack

Obama to get a an agreement or

breakthrough in the lead-up to

Copenhagen on climate change.

Given reports coming out about preliminary meetings to this

forum, do you hold out much

hope that there'll be a

breakthrough, progress will be

made on climate change. Certainly there is the change. Certainly there is

possibility now. You have all

the stars in alignment. For the

first time the Obama Government

has recognised the reality and

importance of climate change.

Unlike the previous Bush

Administration, they,

themselves are bruising policies formulating new policies formulating new ideas,

it is precisely the forum, you

know, to exchange ideas and

policies with others, it

requires global cooperation for

global issues, and so there is

that strong possibility of

moving forward now that you

have the US Government on board

effectively. The key thing also

is getting the developing

countries, China on board,

although China doesn't

contribute much to the carbon

already in the atmosphere, it's

a big polluter, as big as US,

and the real need is to come to

an agreement about targets,

come to an agreement about what

sorts of things we can do

cooperatively and back at cooperatively and back at home,

as it were, and, you know, work as it were, and, you know,

together on this one, sharing

technologies is important for

the west, for the developing

countries so they don't make

the same mistakes we and in our

own industrialisation. Jan

Randolph, it will be an

interesting week, many thanks

for talking to us. Thank for talking to us. Thank you

very much for having very much for having me.

Australia's ambitions to become a global financial become a global financial hub

have been put on the backburner

thanks to the economic

downturn, at a Melbourne conference Islamic finance conference Islamic finance was

featured as a way of promoting

Australia's banking credentials

off shower, advocates saying Australia's political and

economic stability making it an

ideal springboard into regional

banking markets. Neal Woolrich

reports. As the global banking

system conditions a long

process of repairing reputations and balance sheets

some in the finance world call

for a different way of doing

business. Go and talk to the

normal mums and dads, she what

is happening. You will find

that there is lot of agony in

the community itself the community itself because

there is a grab or a policy,

"Take everything from others",

rather than look ethically, and

look at it from a morality look at it from a

point of view. Akhtar Kalam is

chairman of chairman of the Muslim Community Co-operative

Australia, a finance service

available to Muslims and

non-Muslims alike. It has 8,000

members financing share

purchases and 2,000 homes, and

boasting annual turnover of

more than 200 million. It

operates under Sharia Law,

forbid ing the payment of

interest. To make a major

purchase like a house the

institution buys the asset with

the customer who pays rent over

a number of years. Banks that

operate Islamicly benchmark

charges, in this case the charges, in this case the rent

that the bank charges you for

the house, they benchmark that

rent by reference to market

interest rates. While Muslims

make up a quarter of the

world's population Islamic

banking accounts for about 1%

of global finance, it's still

in a start-up phase in

Australia, the major

institutions are starting to

come on board. come on board. The National

Australia Bank is planning a

$15 million trial of Muslim

friendly loans for household

goods, the Federal Government

believing Islamic finance is a

growth opportunity Australia

can exploit. Australia is very

keen to look at this particular

thing. I think we should have

been looking at this 10 years

back. But because we have such

a big organisation, like the

four conventional banks, it was

not very easy to get into

T Your domestic Muslim

population is small, Australia

could be a major international

financial sector, financial sector, realistically

I don't think you can replace

London or New York, in this

time zone Australia has

enormous advantages in terms of

political stability,

reliability of your

courts. Mohammed Amin argues the global financial crisis may

not have happened if the

world's financiers followed

Sharia principles. There's a

lot of thing you do in

conventional finance that you

can't do in Islamic finance,

the simple example Credit derif

tists, they are not

allowed. The prohibition on

Credit derivatives is not

allowed. Interpretations allowed. Interpretations of

Sharia Law differs between

regions and the same

institution, and innovation can

be hampered because of a lack

of Islamic scholars to ensure

new products comply with Sharia

Law. There's no reason why it

should be less able to generate credit. There's certain credit. There's certain kinds

it would be unlikely to

generate. Mohammed Amin argues

there's growing confidence.

The take over of the P&O The take over of the P&O by

Dubai Ports a good example,

funded by a $3.5 billion

Islamic bond issue. Tomorrow's

business diary - top billing to the meeting of the meeting of the Reserve Bank

Policy Board, no change

expected to the official cash

rate of 3%. Dun & Bradstreet releases business expectation

survey, overseas and the latest

German factory orders released.

Britain's industrial out put

out along with a key measure of

activity in the US services

sector. A look at what's making

news in the business sections news in the business sections -

Herald Sun - previews the

unemployment numbers,

predicting jobless figures

rising to 674,000. Australian

- Rio Tinto's sale of Alcan

packaging unit. The Financial

Review - mining slump to Review - mining slump to cost

State Governments $3 billion in

lost royalties, Sydney Morning

Herald - sum of the biggest

superannuation funds seek lower

management fees by switching to

cheaper index funds. That's all

for tonight. The Dow opened

down 47 points or half of one

percent the the FTSE trading

down 44 points, down 1%, if you

want to review the program

visit the web site at

You can watch the whole show

online or down load as a

vodcast. I'm Ali Moore,


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