NSW: The main stories in today s Sydney newspapers = 4

AAP General News (Australia)
08-13-1999
NSW: The main stories in today s Sydney newspapers = 4

THE AUSTRALIAN FINANCIAL REVIEW:

Page 1: In a major win for business, the Howard government will retain the accelerated
depreciation tax incentive and slash the company tax rate to 30 per cent; Australia's
unemployment level has fallen to its lowest level in almost a decade, sparking suggestions
that the jobless rate may fall to as low as 6.5 per cent in the next 12 months; Les Owen
appointed to the top job at National Mutual Holdings.

Page 3: The federal government is facing a budget blowout of hundreds of millions of
dollars, with new evidence emerging that its controversial user-pays nursing home policy has
failed to live up to predictions.

World: China's exports surged in July, reinforcing the government's determination to
maintain the value of the yuan through 1999 in the face of recent market predictions of a
devaluation.

Companies: Struggling diversified industrial Pacific Dunlop remains under pressure to find
buyers for underperforming businesses and to identify new higher-growth assets despite
releasing a better than expected result yesterday; Cable & Wireless pulled off an impressive
fourth-quarter performance to rout analysts' forecasts and comfortably pass its prospectus
projections.

Markets: The Australian sharemarket broke its four-day losing streak yesterday but failed
to mirror the substantial rise on Wall Street, leading some analysts to speculate about an
extended domestic bear market.

AAP jo/pwa

KEYWORD: FRONTERS NSW 4 SYDNEY

1999 AAP Information Services Pty Limited (AAP) or its Licensors.