Thứ Sáu, 29 tháng 3, 2013

BlackBerry back in profit

A BlackBerry Z10

BlackBerry maker Research In Motion has surprised Wall Street by returning to profitability. Source: AAP

RESEARCH In Motion says it sold about one million of its critically important new BlackBerry 10 devices and surprised Wall Street by returning to profitability in the most recent quarter.

The earnings provide a first glimpse of how RIM's new touch-screen BlackBerry Z10 is selling internationally and in Canada since its debut on January 31.

The one million Z10 phones exceeded the 915,000 analysts had been expecting.

The BlackBerry, pioneered in 1999, had been the dominant smartphone for on-the-go business people and other consumers before the iPhone debuted in 2007 and showed that phones can handle much more than email and phone calls.

RIM faced numerous delays modernising its operating system with the BlackBerry 10. During that time, it had to cut more than 5000 jobs and saw shareholder wealth decline by more than $US70 billion ($A67 billion).

In the quarter that ended March 2, RIM earned $US98 million, or 19 US cents a share, compared with a loss of $US125 million, or 24 US cents a share, a year earlier. After adjusting for restructuring and other one-time items, RIM earned 22 US cents a share. Analysts surveyed by FactSet had been expecting a loss of 31 US cents.

Revenue fell 36 per cent to $US2.7 billion, from $US4.2 billion. Analysts had expected $US2.82 billion.

Despite the BlackBerry 10 sales, RIM lost about three million subscribers to end the quarter with 76 million.

Bill Kreyer, a tech analyst for Edward Jones, called the decline "pretty alarming".

"This is going to take a couple of quarters to really see how they are doing," Mr Kreyer said.

RIM, which is changing is formal name to BlackBerry, said it expects to break even in the current quarter.

"To say it was a very challenging environment to deliver improved financial results could well be the understatement of the year," chief executive Thorsten Heins said during a conference call with analysts yesterday.

"I thought they were dead. This is a huge turnaround," Jefferies analyst Peter Misek said from New York.

Mr Misek said the Canadian company "demolished" the numbers, especially its gross margins.

RIM reported gross margins of 40 per cent, up from 34 per cent a year earlier. The company credited higher average selling prices and higher margins for devices.

The company also announced that co-founder Mike Lazaridis will retire as vice-chairman and director.


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BlackBerry back in profit, sells 1m Z10s

A BlackBerry Z10

BlackBerry maker Research In Motion surprised Wall Street by returning to profitability. Source: AAP

RESEARCH In Motion says it sold about one million of its critically important new BlackBerry 10 devices and surprised Wall Street by returning to profitability in the most recent quarter.

The earnings provide a first glimpse of how RIM's new touch-screen BlackBerry Z10 is selling internationally and in Canada since its debut on January 31.

The one million Z10 phones exceeded the 915,000 analysts had been expecting.

The BlackBerry, pioneered in 1999, had been the dominant smartphone for on-the-go business people and other consumers before the iPhone debuted in 2007 and showed that phones can handle much more than email and phone calls.

RIM faced numerous delays modernising its operating system with the BlackBerry 10. During that time, it had to cut more than 5000 jobs and saw shareholder wealth decline by more than $US70 billion ($A67 billion).

In the quarter that ended March 2, RIM earned $US98 million, or 19 US cents a share, compared with a loss of $US125 million, or 24 US cents a share, a year earlier. After adjusting for restructuring and other one-time items, RIM earned 22 US cents a share. Analysts surveyed by FactSet had been expecting a loss of 31 US cents.

Revenue fell 36 per cent to $US2.7 billion, from $US4.2 billion. Analysts had expected $US2.82 billion.

Despite the BlackBerry 10 sales, RIM lost about three million subscribers to end the quarter with 76 million.

Bill Kreyer, a tech analyst for Edward Jones, called the decline "pretty alarming".

"This is going to take a couple of quarters to really see how they are doing," Kreyer said.

RIM, which is changing is formal name to BlackBerry, said it expects to break even in the current quarter.

"To say it was a very challenging environment to deliver improved financial results could well be the understatement of the year," chief executive Thorsten Heins said during a conference call with analysts on Thursday.

"I thought they were dead. This is a huge turnaround," Jefferies analyst Peter Misek said from New York.

Misek said the Canadian company "demolished" the numbers, especially its gross margins. RIM reported gross margins of 40 per cent, up from 34 per cent a year earlier. The company credited higher average selling prices and higher margins for devices.

The company also announced that co-founder Mike Lazaridis will retire as vice-chairman and director.


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BlackBerry back in profit, sells 1m Z10s

A BlackBerry Z10

BlackBerry maker Research In Motion surprised Wall Street by returning to profitability. Source: AAP

RESEARCH In Motion says it sold about one million of its critically important new BlackBerry 10 devices and surprised Wall Street by returning to profitability in the most recent quarter.

The earnings provide a first glimpse of how RIM's new touch-screen BlackBerry Z10 is selling internationally and in Canada since its debut on January 31.

The one million Z10 phones exceeded the 915,000 analysts had been expecting.

The BlackBerry, pioneered in 1999, had been the dominant smartphone for on-the-go business people and other consumers before the iPhone debuted in 2007 and showed that phones can handle much more than email and phone calls.

RIM faced numerous delays modernising its operating system with the BlackBerry 10. During that time, it had to cut more than 5000 jobs and saw shareholder wealth decline by more than $US70 billion ($A67 billion).

In the quarter that ended March 2, RIM earned $US98 million, or 19 US cents a share, compared with a loss of $US125 million, or 24 US cents a share, a year earlier. After adjusting for restructuring and other one-time items, RIM earned 22 US cents a share. Analysts surveyed by FactSet had been expecting a loss of 31 US cents.

Revenue fell 36 per cent to $US2.7 billion, from $US4.2 billion. Analysts had expected $US2.82 billion.

Despite the BlackBerry 10 sales, RIM lost about three million subscribers to end the quarter with 76 million.

Bill Kreyer, a tech analyst for Edward Jones, called the decline "pretty alarming".

"This is going to take a couple of quarters to really see how they are doing," Kreyer said.

RIM, which is changing is formal name to BlackBerry, said it expects to break even in the current quarter.

"To say it was a very challenging environment to deliver improved financial results could well be the understatement of the year," chief executive Thorsten Heins said during a conference call with analysts on Thursday.

"I thought they were dead. This is a huge turnaround," Jefferies analyst Peter Misek said from New York.

Misek said the Canadian company "demolished" the numbers, especially its gross margins. RIM reported gross margins of 40 per cent, up from 34 per cent a year earlier. The company credited higher average selling prices and higher margins for devices.

The company also announced that co-founder Mike Lazaridis will retire as vice-chairman and director.


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Camel attempts to eat tourist

camel

Justine and THAT camel selfie. (Pic: Our Naked Australia) Source: Supplied

This is the moment a Melbourne blogger by the name of Justine was nearly eaten by a camel.

OK, maybe not eaten. But it's definitely a close encounter.

Justine and her boyfriend Dave are travelling around Australia and found themselves face to face with the cutest of creatures (alright, maybe not) in Perth earlier this month.

"We got to this cheese factory called HaVe Harvey Cheese in the south of Perth," Justine explained to news.com.au.

"They have a camel enclosure outside with two camels in it. They seemed pretty placid so we went up and patted them.

"We were getting so close and I wanted to get a picture with one of the camels, the next thing I felt was the camel's tooth making contact with my forehead.

"I must have cat-like reflexes because I flicked my head out of its mouth so quickly."

The picture is so hilarious the couple decided to share it with the world.

"I just burst out laughing," Dave said.

"We all just lost our sh-t for five-minutes."

Bored with the everyday 9-5 and inspired by Les Hiddins' Bush Tucker Series, the couple packed up the 75 Series Landcruiser Troopcarrier and began the adventure of a lifetime around Australia last November.

They are penning their progress on their website Our Naked Australia. (Don't ask.)

Justine can now tick "near-death experience", "media exposure", "viral" and "pashed a camel" off the bucket list.

Beats 9-5 any day, right?

Oh, and a note to Justine. Take it from me. THIS is how to work it with a camel. With added photobomb.

Matt camel

Matt Young. Camel. Photobomb. What could be better? (Pic: Melvyn Knipe) Source: Supplied

Continue the conversation via Twitter @newscomauHQ | @the_mattyoung | @OurNakedAus


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Subaru's new WRX in the fast lane

WRX

Subaru's new WRX will enjoy life in the fast lane. Source: Supplied

  • Fourth-generation in showrooms later this year
  • Carbon-fibre roof and lightweight panels
  • Unique body moves away from boring image

REV-HEADS rejoice! The new Subaru WRX promises to be the fastest ever.

But the concept car unveiled at the New York motor show overnight still had to be pushed onto the stand as it didn't have an engine.

Japan’s favourite performance car - which has regained its styling mojo after the company brought in younger designers - was unveiled ahead of a production car debut at the Tokyo motor show this October.

The new Subaru WRX will be faster than before even though the new generation turbocharged 2.0-litre engine will be smaller and more fuel-efficient than the 2.5-litre turbo in the current model.

For the first time in its 20-year history the WRX will have a completely unique body, rather than a modified version of the regular Impreza model. As a result, it will drop the Impreza name.


The fourth-generation Subaru WRX will likely debut as a sleek four-door sedan, which could lead to a two-door coupe at a later date. The wagon and hatch are expected to be discontinued.

Subaru says it investigated hybrid power for the new WRX (as Mitsubishi has done for the next version of its rival the Lancer Evolution) but insiders say this has been ruled out for now because the extra weight of the electric motor and battery pack would blunt performance.

To that end Subaru will make the WRX available with a carbon-fibre roof on the top-end STI model, while all variants are expected to come with an aluminium bonnet, boot and front fenders - which should lead to a weight reduction of about 100kg compared to the current model.

Subaru insiders say a six-speed manual transmission will be standard as a dual-clutch auto has not yet been developed.

Subaru executives at the show would not disclose details about the new WRX but did promise better performance.

The production version of the new Subaru WRX is expected to be unveiled at the Tokyo Motor Show this October immediately ahead of the first Japanese customer deliveries. It should arrive in Australian showrooms either late this year or early next year, priced about $40,000.

This reporter is on Twitter: @JoshuaDowling
 


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S&P 500 climbs to all-time high

THE Standard & Poor's 500 has set an all-time closing record in a sign of growing confidence in the US economy.

The widely watched, broad-based index, a bellwether of US markets and the US economy, closed at 1,569.19, up 6.34 points, or 0.41 per cent, pushing past the previous record of 1,565.15, set on October 9, 2007.

The narrower Dow Jones Industrial Average, which burst through its October 2007 record three weeks ago, propelled to yet another new closing peak of 14,578.54, up 52.38 points, or 0.36 per cent.

The tech-rich Nasdaq Composite finished up 11.00 points, or 0.34 per cent, at 3,267.52.

The S&P 500's run on Thursday came after a revised estimate for the fourth quarter of 2012 that placed GDP growth at just 0.4 per cent, lower than some analysts had expected.

New jobless claims came in worse than forecast, and the Chicago purchasing managers index reading pointed to slowing growth.

"The data was somewhat on the negative side," said Paul Edelstein, an economist at IHS Global Insight.

But he said markets were likely reassured by news out of Cyprus, where banks reopened relatively uneventfully.

But the surge in US stocks also suggests investors are distinguishing the US's prospects from those of Europe. In spite of Thursday's data, key recent indicators, such as housing and unemployment, have improved.

"We're doing well and the eurozone's not, but at least on the current path, the eurozone shouldn't matter too much for the US," Edelstein said.

"There is confidence that the US has decoupled from Europe and the US financial system is likely to be immune to Europe and their current level of crisis there," said Chris Low, chief economist at FTN Financial.


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Looking for luxury? Head to WA

Berkeley River Resort, The Kimberleys

Berkeley River Resort, The Kimberleys. Picture: Lastminute.com.au

AUSSIE travellers looking for luxury are heading to Western Australia. Bookings are up 44 per cent. So what's so great about WA?

Most people think of the Great Barrier Reef, Lizard Island or Port Douglas when they think of luxury resorts. But those in the know are booking luxury getaways in WA. 

Five-star hotel bookings in Western Australia through lastminute.com.au increased by 44% in 2012 compared to 2011.

"While it's a destination that can suit all travel tastes and budgets, Western Australia is certainly upping the ante in the five-star market. There is lot to lust over in WA and the buzz is building," Lastminute.com.au General Manager Kirsty Labruniy said. 

"The Kimberleys, for example, featured on the New York Times top travel destinations for 2013 list and that kind of accolade always creates extra interest from those travellers looking to add somewhere new to their bucket list." 

So what are the hottest hotels in WA? Where are people booking?

Here's the top five five-star hotels booked through lastminute.com.au in Western Australia? 

1) Crown Metropol Perth. This hotel has 29 restaurants and bars, a casino, theatre, spa and retail outlets. The pool area even has exclusive cabanas where you can book your own dedicated host to bring you food and cocktails while you soak up the sun. 
2) Berkeley River Resort, The Kimberleys This incredible resort is only accessible by air or water. Stay at this resort and the return boat or plane transfer, ocean villa and all meals and tours will be included in the price. 
3) Cable Beach Club Resort and Spa, Broome. This hotel offers adult only villas with private courtyards and plunge pools. Not enough? You can even have your own butler and in-room check in.

Cape Lodge

Cable Beach Club Resort and Spa. Picture: Lastminute.com.au Source: No Source

4) Cape Lodge, Margaret River. This hotel sits on its own eight acre vineyard producing Sauvignon Blanc and Shiraz exclusively for hotel guests. The restaurant is award winning. What more can you ask for?

Cape Lodge

Cape Lodge, Yallingup Source: No Source

5) Injidup Spa Resort, Yallingup. This adults only retreat, part of the Small Luxury Hotels of the World has just 10 spacious villas. Ten. The best thing? You can book a private chef to cook dinner in your villa. 

Have you been to WA? What's your favourite hotel? Tell us below


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Gold falls as investors favour stocks

GOLD futures settled at less than $US1,600 for a second time in three trading days Thursday as brighter economic data and stronger equities bolstered investor risk appetite.

The most actively traded contract, for June delivery, fell $US11.40, or 0.7 per cent, to settle at $US1,594.80 a troy ounce on the Comex division of the New York Mercantile Exchange.

Gold prices started the day on the back foot, after an upwardly revised reading of US fourth-quarter growth bolstered investor confidence in the economic recovery.

Gold is considered a refuge from economic uncertainty and a means of safeguarding wealth, but tends to fall out of favor with investors when they expect the economy to do well.

Gold prices also faced pressure from an upbeat US equity market.

The record-breaking run up in equities had cast a shadow on gold in recent months, as investors pulled money out of the haven asset in favor of the economically sensitive stock market.

Still, a weaker reading of the Chicago Business Barometer, a gauge of Chicago-area manufacturing activity, helped temper some of gold's declines.

"That came in quite a lot below expectations and we had a little bounce (in gold)," said Bart Melek, head of commodity strategy with TD Securities.

Lingering concern over Cyprus also cushioned gold's losses. Gold futures had jumped up above $US1,600 on Wednesday as some investors had feared a bank run as Cypriot banks reopened for the first time in nearly two weeks after the nation's controversial bailout.

Cyprus had agreed to shut its second-largest bank and force large depositors to take losses as part of a deal that provided the government with EUR 10 billion ($13 billion) in rescue financing.

Gold's losses came amid unusually low trading volumes, as many traders in the US and Europe moved to the sidelines ahead of the Good Friday holiday. The Comex floor will closed Friday.

Price movements can be amplified during low volume trade, as each individual transaction has a greater impact on the market.

Settlements (ranges include open-outcry and electronic trading):

London PM Gold Fix: $1,598.25; previous PM $1,603.00

Jun gold $1,594.80, down $11.40; Range $1,593.80-$1,606.60

May silver $28.323, down 28.9 cents; Range $28.170-$28.810

Jul platinum $1,574.60, down $8.90; Range $1,561.90-$1,589.90

Jun palladium $768.25; down 5 cents; Range $760.95-$775.45


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Miracle hyena cub peeks into limelight

An Australia first at Monarto Zoo, with a baby spotted hyena born by caesarean section

THIS shy little ball of fluff didn't want to leave mum's side when it showed its face to the public for the first time since its miracle birth.

The images of the yet-to-be-named cutie captured first-time mum, Forest, keeping watch over her newborn as they poked their heads out of the off-limits exhibit on Thursday.

Monarto Zoo staff are thrilled with the birth, for which they were forced to perform the first ever hyena caesarean in Australia.

As Forest struggled to deliver her cub naturally, zoo keepers and veterinarians had to step in after her labour lasted nearly three days.

Senior carnivore keeper Claire Geister said the cub's birth was touch and go.

"We revived it. When we removed if from mum, it wasn't breathing," she said.

Monarto hyena

UNDER MUM'S GUARD: Monarto hyena Forest with her new cub. Picture: TAIT SCHMAAL

"It could have gone wrong so many times (but) it seems to have gone really smoothly."

Ms Geister said Forest was a great mum.

"She is protective, but she's also pretty relaxed as well," she said.

"It (the cub) doesn't venture out without mum. I'm pretty sure it was the wind that scared it today."

Like all spotted hyenas, no one will know whether it's a male or female until official DNA results confirm this in a few weeks.

Forest will decide when it's time to bring it out with the rest of the hyena clan.


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Dreaming of an adventure to Kakadu

Explore one of Australia's most amazing national parks

maguk

Jen Adams and her family at Maguk Gorge. Source: Supplied

kakadu

Exploring the wetlands of Kakadu National Park. Source: Supplied

THE air in the Top End is distinct. Heady with eucalypt, heavy with the tropics and invigorating all at the same time.

The pristine wilderness of Australia's largest national park, Kakadu, has a feeling of remoteness, but in reality it is less than a few hours "down the road" from Darwin, and all on sealed highway.

Exploring the park on a driving adventure with the family, we have the caravan tacked on to the back and a high sense of anticipation as to what we will discover.

The Arnhem Highway begins just outside of Darwin, and it takes you all the way to Jabiru - the main settlement in Kakadu.

As we travel, the towns outside of the city give way to expansive bushland, and only a little way down the road, you start to catch glimpses of the many floodplains that give Kakadu unique recognition as a haven for birdlife.

Our four-year-old daughter Charli is in the back seat, and already in awe of the flocks of magpie geese and pelicans she can see outside her window.

The scenery starts to look familiar. It must be the hundreds of photographs of this area we have seen before; and the reality is so much better.

With the scorching sun beating down, you can feel the heat of the day on the bitumen as we make our way along the highway.

Just a couple of hours on the road and we arrive in Jabiru where we will camp at Kakadu Lodge for the next few nights.

Like an oasis, our campsite is lush and green, nestled in pristine bushland but right next to the town for all its amenities. The park has a pool, in which children are taking grateful refuge, and we adults set up camp and plan our adventures. High on our list is discovering the culture of this region that the traditional owners are so happy to share with us.

Kakadu is home to more than 5000 unique Aboriginal art sites, with a further 10,000 thought to exist. This is just part of the reason why the park has been recognised on the World Heritage list, with the art representing one of the longest historical records of any group of people in the world.

One of the most significant sites is Nourlangie Rock. Here, more than 20,000 years of Aboriginal occupation has been uncovered in its art, where you can see how the life and times of generations have changed and their stories have been left for us to see.

A 1.5km circuit walk takes you through the wet-season home of generations of Aboriginal people.

Between June and September, Kakadu park rangers give free guided talks throughout the day and it is well worth joining one for an incredible insight into the galleries.

Our guide Doug passionately takes us around the art sites and large rock shelter, bringing so many ancient stories to life.

Our day ends at the lookout over Anbangbang Billabong, and one of the most spectacular views of Nourlangie Rock. As the sun sets, it casts a brilliant glow on the rock and surrounding plains.

We are up early the following day for a sunrise cruise on Yellow Water Billabong, Kakadu's most famous wetland. It is still quite dark when we climb on to the boat with our guide Dean from Gagudju Dreaming, an indigenous-owned company operating authentic Kakadu experiences.

But within moments, as we drift out on to the water, with only the sounds of the local birdlife and insects as our company, the sun starts to reveal itself at the bottom of the sky.

It lights up the entire floodplain with a golden glow unlike anything we have ever seen before. Shrouded in mist, it is magical. Not a ripple in the water, crocodiles swim alongside the boat without commotion, all the while the symphony of birds grows louder. Kakadu is home to one-third of Australia's total bird population and we are treated to a spectacular show that reminds us of this fact. From the long-legged jabiru, to the white-bellied sea eagle and the Australian darter, they all go about their morning routines without a single glance at us, and we are totally mesmerised by their beauty in the wild.

The big drawcard for adults and children alike is the saltwater crocodile. We are all silenced by their presence.

One after another swim alongside our boat as if saying hello, leaving us to see the full spectacle of this huge, prehistoric creature.

You can't help but be aware of the fact that there is just a sheet of metal between yourself and these awesome creatures, but that fear quickly superseded by awe.

As the sun rises higher in the sky, the wildlife surrounding us is sometimes close enough to touch.

Gagudju's philosophy of not feeding or touching anything has huge rewards, with the wildlife not being frightened.

Dean tells us that nature paints a different picture almost every day, as the waters recede and the weather changes when they move through the six seasons that guide the traditional owners of this land.

It is a sorry goodbye when we step back on to dry land, awe-inspired by our magical start to the day. But around every turn in this ancient land there is another surprise.

We end our driving adventure by taking the cars off-road to one of Kakadu's spectacular gorges.

The 14km 4WD trip from the highway brings us to Maguk Gorge.

Here, the sheer gorge walls reveal a natural plunge pool at the bottom, which is usually safe for swimming (check the signs). A short hike and we are welcomed by the gushing sounds of the waterfalls, and we all soak in some more Kakadu magic.

Watch this story and more, on Places We Go at 4pm (AEST) Network 10 today.

More: placeswego.com
 

Go2 - KAKADU

Staying there: Kakadu Lodge

See auroraresorts.com.au

Tourism Northern Territory: travelnt.com.au

Yellow Water Cruises: gagudju-dreaming.com
 

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Italy's Monte Paschi posts 3bn euro loss

BANCA Monte dei Paschi di Siena, the world's oldest surviving bank and Italy's third biggest, has reported a net loss for 2012 of 3.17 billion euros ($A3.91 billion).

Of that sum, the ailing bank - which has been caught up in a derivatives scandal - registered a loss of 1.591 billion euros in the fourth semester alone, it said in a statement on Thursday.

The bank, which benefited from a 4 billion euro rescue loan from the Italian government earlier this year, said it took 2.67 billion euros writedowns in 2012 to cover bad debts.

The bank said it operated "in an extraordinarily complex market environment characterised by a progressive slowdown in the economic growth and an exacerbation of the sovereign debt crisis in the eurozone".

The crisis "caused an abrupt increase in credit spreads and restricted access to interbank and institutional markets" making business conditions extremely difficult for the bank.

In January, Italian prosecutors launched legal proceedings against BMPS on reports it had lost some 700 million euros through risky investments in complex financial products.

The bank has said it will lay off 4,600 people by 2015 and close hundreds of branches.

BMPS posted a loss of 4.69 billion euros in 2011.


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S. Korea industrial output shrinks in Feb

SOUTH Korea's industrial output shrank for the second straight month in February, fuelling concerns of a slower-than-expected recovery for Asia's fourth-largest economy.

Production in the mining, manufacturing, gas and electricity industries dropped 0.8 per cent in February from the previous month, following a revised 1.2 per cent contraction in January, state-run Statistics Korea said on Friday.

"The statistics indicate that our economy continues to walk sideways struggling with difficult situations," said Park Seong-Dong, head of the agency's economic statistics bureau.

The data came as South Korea's government was preparing a new economic stimulus package.

South Korea's economy expanded 2.0 per cent in 2012 - the slowest growth in three years, with exports hit by slowing overseas demand in key markets and competition from a weak Japanese yen.

On Thursday, Seoul's finance ministry cut the economic growth forecast for this year to 2.3 per cent from its December projection of 3.0 per cent.

February's sluggish production figure was partly blamed on the manufacturing sector, where output was down 1.2 per cent from January and 9.8 per cent from a year earlier.


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Discover charming country of NSW's central west

bathurst

Machattie Park and the courthouse in downtown Bathurst. Picture: Brian Johnston Source: Supplied

mudgee

Mt Frome vineyards near Mudgee. Picture: Brian Johnston Source: Supplied

THE NSW Central West provides quintessential Australian rural scenery, rolling vineyards and delightful country towns that combine colonial style with contemporary energy.

The region is also full of agreeable surprises, from great dining to unusual attractions

Best for dining: Bathurst

Elegant Bathurst, poised between the Blue Mountains and the Central West, is gaining a reputation as a regional dining centre that showcases local produce.

"On Keppel St alone you can indulge all day," Bathurst hotelier Christine Le Fevre says. "Al Dente has great coffee and food to go, Hub Espresso Bar offers fresh, regional dishes with Italian and Middle-Eastern influences, and the lemon tarts and macaroons at Le Gall's Patisserie are out of this world."

Also showing eclectic influences is Church Bar, where gourmet wood-fired pizzas are topped with goat's curd and walnuts, or Chinese five-spice duck.

And Cobblestone Lane resembles a chic Parisian bistro, with the likes of smoked rainbow trout chowder and pot-roasted shoulder of Cowra lamb on the menu, matched with Orange wines.

Even grocery stores such as Country Fruit are a treat. "Owner Craig Sharah won greengrocer of the year for three years," Le Fevre says.

Pick up Orange apples, Rosnay figs, Trunkey bacon, local relishes and jams and treats from the deli counter for a great taste of Bathurst.

More: visitbathurst.com.au

Where to drink: Head to the cellar door at Stone Pine Distillery and try berry liqueurs, apple and pear schnapps, and gin flavoured with wild lime.

Best for the family: Orange

The region's emphasis on country scenery, colonial history and cellar doors might seem a challenge if you have kids in tow.

Base yourself in Orange, though, and plenty of activities divert the young ones, with a cinema, tenpin bowling alley, skate park, BMX track in Anzac Park, and an aquatic centre.

Gosling Creek Reserve and Lake Canobolas are great for cycling. The tourist office has a brochure devoted to cycling and walking in the area.

Swimming, sailing, kayaking and fishing make Lake Canobolas, just beyond town, a popular local family excursion.

Don't miss Adventure Playground adjacent to the delightful Botanic Gardens. Swings, slides, tunnels, sway bridges and timber climbing frames suit everyone from toddlers to teenagers.

If you have a 4WD, take a tour along the bush tracks that surround Orange, where you can explore old gold mine settlements around Ophir.

The kids will enjoy still-working Gunadoo Mine, where the eccentric owner takes you into dilapidated workings on the hunt for gold.

If you want to really wow the kids, enjoy an early-morning hot-air balloon ride or a helicopter joy ride across the Orange landscape, especially beautiful in autumn.

More: www.orange.nsw.gov.au

Where to eat: Union Bank has a good wine selection and excellent tapas for adults, while kids will enjoy the fruit sodas, fish and chips and burgers.

Best for wine: Mudgee

Mudgee sits surrounded by a rural countryside of slow-munching cattle, hopping kangaroos and hillsides contoured with vineyards.

Vines have been grown here since the 1840s and Australia's first chardonnay grapes were planted in Mudgee in 1971, yet it has long been overlooked as a wine region. That's all changing, with mainstream grape varieties giving way to interesting, alternative varieties such as sangiovese, barbera and petit verdot.

At Vinifera Wines, Spanish grapes include tempranillo, garnacha, graciano and gran tinto.

"I noticed the similarity of Mudgee's climate to that of Spain's Rioja region," owner Tony McKendry says. "I thought, why do the same old thing when something new could be better?"

Further into the countryside at Lowe Wines, zinfandel is the alternative of choice, along with cool-climate whites normally associated with New Zealand.

Mudgee's cellar doors offer visitors more than just sipping and spitting. Gooree Park Wines hosts wagyu beef barbecues and visits to its horse stud.

Others offer cooking or art classes, sculpture exhibitions, cheese-making demonstrations, and there's even a motorcycle museum.

"With good dining, increasingly luxury accommodation and plenty to do, Mudgee really is a great getaway," McKendry says.

More: visitmudgeeregion.com.au

Where to eat: Local winemakers hang out at Roth's Wine Bar.

There's a great wine list, live music in the courtyard, and indulgent gourmet pizzas and tapas.

Best for history: Gulgong

One of the best-preserved colonial towns in the country boasts some 150 buildings from its boom time during the 1870s gold rush.

Many of its civic buildings - including a courthouse, post office and town hall now converted to a contemporary art gallery - stand along Herbert St.

Around the corner, the Prince of Wales is the oldest still-functioning opera house in Australia, while the Henry Lawson Centre celebrates one of our favourite poets, who lived in Gulgong during the 1870s.

"Many colonial towns still have grand public buildings, but Gulgong is remarkable for preserving ordinary worker's cottages, pubs and rows of shops too," Brian Cooke says.

The local guide, who can be booked through the tourist office, will take you around the town's sights and the terrific Pioneer Museum.

The museum rambles over several blocks and highlights colonial life in re-creations of a schoolroom, bakery, cottages and wayside inn.

More: gulgong.net

Where to stay: The re-created Telegraph Station houses two comfortable, well-appointed, self-catering accommodations: a two-bedroom apartment and a studio.

Best for stargazing: Parkes

The Parkes telescope is 52 years old, but the movie The Dish in 2000 made the public aware of this world-leading scientific facility, and has brought visitors to its doors ever since.

Just coming to admire the dish, balanced elegantly atop a three-storey tower, is worth the journey.

At the visitor centre, take a look at NASA exhibits and movie props, before taking off in the theatrette's Elysium Tourist Express to a 3D Mars. Another presentation, Invisible Universe, focuses on the achievements of Parkes scientists.

The visitor centre explains why this is such an important research station. "The location, large collecting area of the dish and its technology give Parkes the best telescope anywhere for pulsar astronomy," CSIRO's Dr Simon Johnston says. "Australia leads the world in the field."

Most of the world's known pulsars - rapidly spinning remains of old, collapsed stars - were first detected here, and quasars and interstellar magnetic fields were also discovered at Parkes.

"They push back our understanding of the origins and composition of the universe," Johnston says. "A visit to the dish isn't just a trip to rural NSW, but to the far reaches of space."

More: csiro.au/parkes

More Parkes: A star of another sort is celebrated in January, when Parkes hosts a fun-filled get-together of Elvis Presley tribute artists and impersonators.

Make it happen: Virgin Australia, ph 13 67 89.

More: centralnswtourism.com.au

3 WAYS TO DO THE CENTRAL WEST

1. Budget

Sleep: Cowra Van Park, by the Lachlan River, has laundry facilities and electric barbecues. Powered sites $31, ensuite cabins $80.

Eat and drink: Taste Canowindra is a one-stop cellar door for local wineries. The restaurant serves good, hearty nosh from $16 a main, with live music on weekends.

Shop: Head to Rosnay Wines on the Belubula River near Canowindra, where vineyards combine with an organic Mediterranean fruit orchard. Wine from $15 a bottle, olives $10 a jar.

Do: At $25 for the family, Canowindra's Age of Fishes Museum provides a unique insight into ancient fish fossils. Kids can poke, prod and take fossils rubbings.

2. Mid-range

Sleep: Borrodell, an estate of vineyards and orchards just out of Orange, has self-contained cottages from $180 a night.

Eat and drink: Racine features award-winning cuisine using local produce matched with La Colline wines from the surrounding vineyards. Two courses cost $65.

Shop: Caboodle of Orange has a good range of Aussie-made souvenirs knitting yarns and hand-knitted children's sweaters and woollens and more.

Do: Simmo's Offroad Tours does scenic 4WD passenger tours and 4WD tag-along tours across the Central West. Its mining tour includes gold panning and visits to historic mining sites.

3. Luxury

Sleep: Bishop's Court in Bathurst is an endearing private mansion with six bedrooms in various styles. Doubles from $250 a night including breakfast.

Eat and drink: A three-course, mod Oz meal at Cobblestone Lane will set you back $80, a bottle of 2004 Jarretts Finger & Thumb Shiraz from Orange another $80.

Shop: Wallace Bishop in the Bathurst City Shopping Centre tempts with diamond bangles, Japanese jewellery and a premium range of watches.

Do: For the thrill of driving the Bathurst race circuit, get into a race suit and helmet and climb into a V8 race car. From $999.
 

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Euro rebounds after Cyprus banks reopen

THE euro bounced back on Thursday as Cyprus reopened its banks amid relative calm after a nervous two-week closure and the spectre of depositor losses and capital controls did not fuel panic elsewhere.

At 0800 AEDT on Friday the euro had climbed 0.3 per cent to $1.2814, compared to $1.2776 late on Wednesday.

The single currency was also helped by a better-than-expected report on German retail sales in February, which gained 0.4 per cent from January, according to the federal statistics office Destatis.

The yen remained firm after the new Bank of Japan chief, who has argued for a weaker currency, called Japan's massive debt "abnormal" and warned that Tokyo must avoid a possible plunge in confidence among bondholders.

The yen ended flat against the euro, at 120.64 yen, while the dollar slipped to 94.12 yen from 94.42.

The euro's rebound on the greenback was limited as analysts said the Cyprus crisis was still not over and Italian politicians failed to produce a governing coalition amid more strains on the economy.

"The euro pared the sharp decline from earlier this week as capital controls in Cyprus helped the periphery country to avert a bank run," said David Song of DailyFX.

"But the weakening outlook for the region may continue to drag on the exchange rate as European policymakers maintain a reactionary approach in addressing the risks surrounding the region."

Analysts at Nomura said they still foresee a gradual weakening of the euro.

"Beyond Cyprus, the medium-term picture for the euro remains negative," they said in a research note.

"The divergence between key macroeconomic and financial market trends in the eurozone and the US will likely be an increasing important driver of the euro."

Song said the next key guidepost will be next week's meeting of the European Central Bank policy board.

The ECB "may show a greater willingness to ease monetary policy further as European policymakers struggle to address the ongoing turmoil in the periphery countries," he said.

The British pound gained to $US1.5192 from $US1.5128. The US dollar fell to 0.9494 Swiss francs from 0.9540 francs.


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Volkswagen Golf wins World Car of Year

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Volkswagen design chief Walter de Silva hoists a trophy into the air after the Volkswagen Golf was named the 2013 World Car of the Year. Source: Getty Images

THE modern-day people's car, the Volkswagen Golf, has defeated 40 rivals to win the 2013 World Car of the Year.

The announcement was made at the New York Motor Show overnight. It is Volkswagen’s fourth World Car of the Year victory in the past five years, and the second time the Golf has won the title.

The Tesla Model S electrically-powered luxury sedan introduced by entrepreneur Elon Musk won Green Car of the Year, while the Jaguar F-Type convertible won Design of the Year and the Porsche Boxster sports-car took out Performance Car of the Year.

The World Car of the Year awards are judged by 66 jurors from 25 countries.  The Mercedes-Benz A-Class hatch had been highly favoured going into the awards.

Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen, said: “To win this award again shows that the Golf is and remains in a class of its own all around the world. This car sets new benchmarks again and again, not least in terms of efficiency and environmental credentials. Soon, the Golf will also be launched as a plug-in hybrid and as a 100 per cent electric car.”

The new, seventh-generation Volkswagen Golf goes on sale in Australia next month.

This reporter is on Twitter: @JoshuaDowling
 


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Gold falls as investors favour stocks

GOLD futures settled at less than $US1,600 for a second time in three trading days Thursday as brighter economic data and stronger equities bolstered investor risk appetite.

The most actively traded contract, for June delivery, fell $US11.40, or 0.7 per cent, to settle at $US1,594.80 a troy ounce on the Comex division of the New York Mercantile Exchange.

Gold prices started the day on the back foot, after an upwardly revised reading of US fourth-quarter growth bolstered investor confidence in the economic recovery.

Gold is considered a refuge from economic uncertainty and a means of safeguarding wealth, but tends to fall out of favor with investors when they expect the economy to do well.

Gold prices also faced pressure from an upbeat US equity market.

The record-breaking run up in equities had cast a shadow on gold in recent months, as investors pulled money out of the haven asset in favor of the economically sensitive stock market.

Still, a weaker reading of the Chicago Business Barometer, a gauge of Chicago-area manufacturing activity, helped temper some of gold's declines.

"That came in quite a lot below expectations and we had a little bounce (in gold)," said Bart Melek, head of commodity strategy with TD Securities.

Lingering concern over Cyprus also cushioned gold's losses. Gold futures had jumped up above $US1,600 on Wednesday as some investors had feared a bank run as Cypriot banks reopened for the first time in nearly two weeks after the nation's controversial bailout.

Cyprus had agreed to shut its second-largest bank and force large depositors to take losses as part of a deal that provided the government with EUR 10 billion ($13 billion) in rescue financing.

Gold's losses came amid unusually low trading volumes, as many traders in the US and Europe moved to the sidelines ahead of the Good Friday holiday. The Comex floor will closed Friday.

Price movements can be amplified during low volume trade, as each individual transaction has a greater impact on the market.

Settlements (ranges include open-outcry and electronic trading):

London PM Gold Fix: $1,598.25; previous PM $1,603.00

Jun gold $1,594.80, down $11.40; Range $1,593.80-$1,606.60

May silver $28.323, down 28.9 cents; Range $28.170-$28.810

Jul platinum $1,574.60, down $8.90; Range $1,561.90-$1,589.90

Jun palladium $768.25; down 5 cents; Range $760.95-$775.45


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Italy's Monte Paschi posts 3bn euro loss

BANCA Monte dei Paschi di Siena, the world's oldest surviving bank and Italy's third biggest, has reported a net loss for 2012 of 3.17 billion euros ($A3.91 billion).

Of that sum, the ailing bank - which has been caught up in a derivatives scandal - registered a loss of 1.591 billion euros in the fourth semester alone, it said in a statement on Thursday.

The bank, which benefited from a 4 billion euro rescue loan from the Italian government earlier this year, said it took 2.67 billion euros writedowns in 2012 to cover bad debts.

The bank said it operated "in an extraordinarily complex market environment characterised by a progressive slowdown in the economic growth and an exacerbation of the sovereign debt crisis in the eurozone".

The crisis "caused an abrupt increase in credit spreads and restricted access to interbank and institutional markets" making business conditions extremely difficult for the bank.

In January, Italian prosecutors launched legal proceedings against BMPS on reports it had lost some 700 million euros through risky investments in complex financial products.

The bank has said it will lay off 4,600 people by 2015 and close hundreds of branches.

BMPS posted a loss of 4.69 billion euros in 2011.


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Make changes or lose reef: expert

Australia Marine Reserve

A diver snorkels in the Great Barrier Reef, Queensland. Picture: AP Source: AP

THE Great Barrier Reef will become little more than a mass of seaweed if the development of coal ports on the Queensland coast continues, a marine expert says.

Professor Callum Roberts says mining firms don't care about the reef, and the Queensland government needs to do more to protect "this global icon".

"Most of the (mining firms) don't give a stuff about the environment," Prof Roberts, a marine conservation biologist at the University of York in England, told AAP.

"The Great Barrier Reef requires the very best protection.

"It deserves the very best, if it is going to survive."

Prof Roberts, whose research examines the impact of human activity on marine ecosystems, has served on the US National Research Council Committee and worked with the World Conservation Union.

Last weekend he visited Abbot Point near Bowen, Yeppoon near Rockhampton, and Gladstone to assess damage and determine what harm future projects may cause.

A section of the reef off the central Queensland coast, where there is a concentration of coal terminals, is in the worst state, he says.

"It's obvious in looking at it visually that the impacts are spreading like a bruise from the coastline."

He described the level of development in Gladstone as shocking.

"What we've got is this sprawling development which goes for miles and miles, rather than being constrained," he said.

Proposed expansion of the port at Abbot Point, which would include significant dredging, would impact the reef, he said.

A boost in the number of ships carrying minerals across the reef would also increase the chances of a spill.

And loud noises from ships could cause chronic stress for marine life.

Any development at Fitzroy River at Yeppoon, which Prof Roberts says is a complex and valuable eco-system home to many species, could be devastating.

The estuary filters water which runs off land before it is dispersed into the ocean.

Prof Roberts agrees with a UNESCO ruling that the Great Barrier Reef is under threat.

Last year, UNESCO said the Great Barrier Reef could be listed as a World Heritage site in danger due to the rapid increase in coastal developments.

The federal government must now report back to UNESCO outlining how the reef will be preserved.

Prof Roberts says the reef will likely be covered in seaweed within two decades if changes aren't made.

"We'll have little in the way of the wonderful life that we have grown to love and enjoy and which fuels Australia's tourism industry," he said.


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Thứ Năm, 28 tháng 3, 2013

Miranda Kerr's jetlag secrets

Miranda Kerr

Drink lots of water, get plenty of rest and avoid alcohol on long flights to feel rested when you touch down, says Miranda Kerr.

Vogue's April covergirl Miranda Kerr reveals how she makes long-haul flights and hotel-room living a little healthier.

How do you stay healthy while travelling on long-haul flights?

“Normally when I am travelling long haul it means the minute I touch down I head straight to a job, so I drink plenty of water to keep hydrated. I also have a blend of superfoods that I add to a bottle of water and sip throughout the flight to ensure I’m getting the vitamins and minerals needed. I avoid alcohol and try to get lots of sleep - a silk eye mask and cashmere wrap are travel essentials, as are my Kora Organics Balancing Rose Mist and Vitamin Enhanced Lip Balm.”

What’s the first thing you do when you arrive at your hotel?

“Shower, dry body brush and take a walk in the fresh air or do a quick workout at the gym.”

Do you stock your hotel room with a stash of healthy snacks?

“Luckily my friends and family know what I love so I often arrive home to my favourite nutritious snacks. I also like the minibar to be emptied prior to my arrival so I can fill it with fresh organic cold-pressed juices.”

Do you carry any snacks in your handbag?

“I like to keep a mix of organic goji berries, almonds, sunflower seeds, pumpkin seeds and macadamia nuts.”

What are your favourite cafes and restaurants in Sydney?

“I love Chiswick in Woollahra; the menu changes seasonally as they grow a lot of their produce. I also love Kawa, an organic café in Surry Hills.”

And in Melbourne?

“In Melbourne a favourite for a treat is a Japanese restaurant called Mikoshi in Fitzroy Street, St Kilda. The signature chicken Mikoshi burger is delicious! Cookie in the city is also great - I love the atmosphere.”

Who do you see for a massage in each city?

“I have a couple of therapists I switch between depending on my needs.”

Where do you work out or train in each city?

“I don’t have a regimented exercise plan. I like to mix it up with ocean swims, walking the Bondi to Bronte, and like to do yoga and matt pilates wherever I am.”

Do you have a favourite juice delivery company in Sydney and Melbourne?

“In Sydney I have two: Lucky You and Orchard Street.”

What are your three all-time favourite wellness tips?

“Feed your body with clean, nutritious food and treat occasionally; keep active with exercise you enjoy; and laugh a lot - it’s the best therapy!”

Find out more on Miranda at vogue.com.au


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Review: High-tech Parkroyal Darling Harbour

parkroyal darling harbour

A Club Suite at the Parkroyal Darling Harbour. Picture: Tom Evangelidis Source: Supplied

parkroyal darling harbour

The Club Lounge at the Parkroyal Darling Harbour. Picture: Tom Evangelidis Source: Supplied

FIRST there were metal keys, then there were key cards you inserted to open the door of your hotel room.

Parkroyal Darling Harbour in Sydney has taken the next step by introducing room cards you simply scan in front of the door before entering as part of a multimillion-dollar, tech-savvy refurbishment.

Later this year, it will take things further, with guests able to check in via smart phone and use them as room keys.

When I enter my room the light comes on automatically and when I turn the light off at the wall the lamp in the corner also goes out - no fossicking awkwardly underneath the shade trying to find the switch.

My room, one of 11 Club Suites on level eight, has electronic airconditioning and smart TVs mounted on the wall in the lounge area and bedroom.

From experiences at other hotels I fear they may be too smart for me, but I find them easy to use.

The hotel's gym has also been expanded as part of the revamp. The exercise machines have individual screens so you can plug in your iPhone or iPod and listen to your own music, or watch any of the hotel channels available in rooms.

The 340-room hotel was relaunched in February after the four-month refurbishment, designed to give it a fresh, contemporary feel, with a celebrity party attended by X Factor judge Natalie Bassingthwaighte, actor Rodger Corser and TV presenter Laura Csortan.

International design firm Hassell worked with Pan Pacific Hotels Group, owners of Parkroyal hotels in Australia, to create a look inspired by Sydney. The lobby has earthy tones with sandstone and blue colouring and a natural light effect from the atrium, beside the lifts.

The refurbished restaurant is on level R - between levels one and two - and offers a substantial buffet breakfast and an la carte menu at dinner.

Named Barkers after Thomas Barker - one of the original settlers who operated a steam flour mill in the 1800s where the building now stands - it has a casual vibe.

Entrees include chilled baby root vegetable salad ($14) and fried soft shell crab with citrus aioli ($17).

As well as various meat courses, there is also an Asian selection, with meals including nasi goreng, pad thai and Malaysian chicken soup around the $18 to $20 mark.

From our table by the window we can see the view towards Darling Harbour over the IMAX, Ausgrid and Commonwealth Bank buildings.

The view from the new Club Lounge for corporate travellers on level nine is much more encompassing, with the reflection of neon lights on the water.

There you can indulge in a range of wines, cheeses and other snacks.

Afterwards I return to my room and enjoy its big, comfortable bed.

The large bathroom is separated from the bedroom by a sliding door and has a separate bath and shower and two sinks.

It has all the accessories you could wish for - shower cap, toothbrush and mini toothpaste, a shaving kit, skin lotion, shower gel and separate shampoo and conditioner.

At breakfast the next morning I am greeted by the same wait staff who served us at dinner the night before, leaving me to wonder when they had time to sleep.
 

Go2 - PARKROYAL DARLING HARBOUR

Parkroyal Darling Harbour is at 150 Day St, Sydney.

Standard rooms start at $169 a night, Club Suites start at $250 a night.

For more information or bookings ph 1800 192 144 or see parkroyalhotels.com/darlingharbour
 

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In search of The Lost Canyon maggots

The Lost World Caves, Waitomo, in search of New Zealand's rare Arachnocampa luminosa. Additional footage travel.com.au

nz climb

The Lost World caves at Waitomo.Picture: Courtesy Waitomo Adventures
Source: news.com.au

nz maggots

The incredible fly larva or  "glow worm"light up the cave. Picture: Courtesy Waitomo Adventures
Source: news.com.au

WE'RE wading through a gushing stream at the mouth of an underground canyon in search of rare New Zealand maggots. An eel brushes my ankles, then a tiny bat dives bombs our heads.

Welcome to the well-hidden home of Arachnocampa luminsa - an incredible fly larva or  "glow worm" that behaves remarkably like a spider.

This clever maggot, about one cm long, only found in New Zealand, secretes a fishing line-like thread that it dangles from dark cave ceilings.

Then, in the darkness it attracts its prey (small flying bugs) by lighting up part of its dung-filled rear like a glow-in-the-dark bait. The maggots extraordinary efforts to entrap their prey has had scientists fascinated since 1871 when modern science recorded what the Maori's already knew.

We're venturing towards a huge colony of Arachnocampa luminsa in the aptly named Lost World Canyon.

It's in Waitomo in New Zealand's North Island. Just getting to the cave entrance is a test of nerve. We are guided here by the team from Waitomo Adventures.

Step one of the tour is a doozy. It's a vertical drop 100m down into what looks like a Hollywood special effect.

The Waitomo team encourage you to lower yourself  - yes, lower yourself - through a huge crack in a massive rock wall formed a millennia ago, down to find the special maggots. The rock walls are emerald green with ferns,vines and all manner of ancient life stretching upwards to the sun.

We're going down. Into the darkness I grip my lifeline, a sturdy climbing rope and safety clips. The thick vines on the walls, are "grown as ropes for the Aussies" our Kiwi guides joke. We laugh nervously. Dressed in white abattoir gumboots and wet suits we lower ourselves bit by bit down into the canyon floor.

The water course we follow is knee deep and is about 12 degrees, beautiful to drink, bloody cold to wade in.  We enter the"blackwater"  dark underground rivers and waterfalls.

Our guides are magnificent, carefully securing our walking ropes and encouraging us to climb up  and down waterfalls and jump into blackened rock pools.

Rock walls reach out like giant potato chips and giant rock slabs below our feet are shaped like brains. Dripping wet stalactites and stalagmites decorate our trail. We're now passing through a cavern favoured by The Hobbit special effects production team. Beauty on a huge scale.

Finally we make it. We're in the "glow worm" cave. Lights off. These incredibly sensitive little creatures don't like being disturbed.

Sitting quietly peering in wonder up at the truly spectacular glowing lights above me, this is a moving, almost spiritual experience.

That something so small could be so beautiful is humbling. They glow with a greenish fluorescent brightness that our videos and photos can never do justice.

Their lights spread across the entire ceiling, all symmetrically spaced living in the darkness and ever present gushing waters.

If you're not fit I'm not quite sure how you'd get back out of here, the vertical climb 100m up a slippery steel ladder was a test in itself.

A few kilometres up the road there is a tourist man-made cave with purpose bred "glow worms" but its hard to be beat the real experience of The Lost World Canyon maggots.

The author travelled courtesy of travel.com.au


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Life-changing travel experiences

feb 27 travel burma temples

Visit the temples of Bagan, Myanmar (Burma). Picture: www.sxc.hu Source: news.com.au

Aurora Borealis

The Aurora Borealis is a truly spectacular sight to witness. Picture: supplied Source: Supplied

feb 27 travel whale sharks

Swim with whale sharks off the WA coast. Picture: Supplied Source: news.com.au

SOME travel experiences are so amazing and unique they open your mind to a whole new world.

Online travel agency Zuji.com.au has compiled a list of the top 10 life-changing travel experiences to get you excited about your next trip, and we've added in some of our favourites.

Click here for our gallery of life-changing trips

Encounters with wildlife are right up there. There are only 880 mountain gorillas left in Rwanda, Africa, and the experience is made even more special due to the fact that only 50 tourists can see the wonderful creatures at any one time. 

Swimming with the beautiful humpback whale in Tonga is also something your mates are unlikely to have done. The massive mammals were near extinction but now you can swim close to them between August and October.

And on our shores, swimming with the magical whale sharks - the world's largest fish - is a real life-defining moment. The animals can grow up to 18 metres long and over the course of a day, you can swim with five or six of the creatures.

And to see the most inspiring works of man, a visit to the Mayan ruins of Tikal, Guatemala, the temples of Bagan, Myanmar (Burma) as seen in the film Samsara or walking the Great Wall of China are essential trips.

See more life-changing travel trips in our gallery


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UK banks told to fill capital black hole

MAJOR British banks must reinforce their capital by STG25 billion ($A36.39 billion) by the end of 2013 after underestimating the potential losses and fines they face over the next three years, the Bank of England said on Wednesday.

The Bank of England (BoE) said some banks had sufficient capital to ensure they can meet potential future losses but others needed to raise the funds, although it did not identify them.

It was the first order from the BoE's Financial Policy Committee (FPC), the new financial stability regulator, and followed a four-month study of the sector.

It said British banks and building societies, or lenders owned by their savers, faced losses of billions of pounds from "high-risk loan portfolios" in the British property sector and in "vulnerable" eurozone economies.

They also faced the possibility of STG10 billion of fines and therefore "a more prudent approach to risk" was required, meaning they need to build up their capital to levels set out by global banking guidelines.

"Some banks... have capital ratios in excess of 7.0 per cent; for those that do not, the aggregate capital shortfall at end of 2010 was around STG25 billion," the FPC said.

The banks most affected are likely to be Royal Bank of Scotland (RBS) and Lloyds Banking Group, which are part-owned by the state after running up massive losses during the financial crisis.

Some observers said if RBS and Lloyds are required to raise more capital, it could delay plans to sell the banks back to the private sector.

However shares rose in both banks in early trading on Wednesday because the shortfall figure was not as bad as investors had feared.

Business Secretary Vince Cable criticised the move, saying it would prevent banks who are only just starting to lend to business again from doing so.

Cable said the order would "prolong the time it takes for the British economy to recover" because it would hit the "already-weak" lending to small and medium-sized companies.

Britain is not in recession but would technically enter one if the country's economy is shown to have shrunk in the current first quarter.


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European stocks slide on Cyprus tensions

A board shows the evolution of the Spanish Stock Exchange index IBEX

European stock markets have mostly risen and the euro has recovered from four-month lows. Source: AAP

EUROPEAN stock markets retreated and the euro dropped under $US1.28 for the first time in fourth months owing to concerns about fallout from the Cyprus financial bailout, analysts said.

London's FTSE 100 index of leading companies fell 0.57 per cent to stand at 6362.96 points in late Wednesday morning deals, as Frankfurt's DAX 30 shed 0.89 per cent to 7809.71 points and in Paris the CAC 40 slumped 1.30 per cent to 3699.78.

Madrid tumbled 1.93 per cent and Milan lost 1.56 per cent.

Italian borrowing rates fell slightly in a 10-year debt auction on Wednesday, despite concerns over a political deadlock in the recession-hit country following inconclusive elections.

Stock indices were falling "as the ongoing issues in Cyprus continue to weigh on sentiment," said Alpari trading group analyst Craig Erlam.

In foreign exchange deals, the euro dropped to $1.2782 - the lowest level since November 21 - and compared with $1.2861 late in New York on Tuesday.

Gold prices slipped to $US1592.25 ($A1525.36) an ounce from $1598 Tuesday on the London Bullion Market.

The foreign exchange market "is concerned about medium-term contagion effects" of the Cyprus bailout, said Commerzbank analyst Thu Lan Nguyen.

Troubled eurozone nation Cyprus on Wednesday scrambled to finalise capital controls to avert a run on banks, a day before they are due to reopen after a nearly two-week lockdown while the island secured a huge bailout.

Meanwhile there are fears that the controversial terms of the bailout could be mirrored in any future financial rescues of indebted eurozone members.

Nicosia overnight on Sunday-Monday agreed a last-minute deal with its international lenders that will see it receive a $13 billion rescue package to help pay its bills.

And while the decision to tax bank savings above 100,000 euros ($A123,540) raised fears of a similar move in future rescues - reinforced by comments from the head of the Eurogroup of finance ministers - officials have since insisted that Cyprus is a special case.

"The negative sentiment is also enhanced by rumours that this format will be adopted as a template for any further bailout schemes," said Currencies Direct trader Amir Khan.

"Although top officials deny any such move in the future, markets are still wary that this format will leave the banks with fewer deposits and in turn will allow them to lend less, shrinking growth."

Elsewhere on Wednesday, in indebted eurozone member Italy, the government raised three billion euros in bonds due to mature in 2023 at a rate of 4.66 per cent, compared with 4.83 per cent at the last similar auction on February 27.

Italy also raised 3.91 billion euros in five-year bonds at a rate of 3.65 per cent, slightly higher than the 3.59 per cent level in the previous comparable sale.


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Newcrest cuts production targets on Lihir

NEWCREST investors have been dealt another blow after the gold miner cut its production targets by 10 per cent due to ongoing problems at its Lihir operations.

But analysts say the eight per cent share price fall on the back of the announcement could be overdone due to the company's solid fundamentals.

Shares in Newcrest were down by $1.82, or 8.32 per cent, to $20.05 on Thursday.

While Newcrest's assets in Australia and Indonesia are performing soundly, the Lihir operation in Papua New Guinea has been plagued by maintenance problems as company continues to fix parts of the plant.

"Primarily as a result of the restricted production capacity at Lihir, the company has determined that the original guidance provided for financial year 2012/13 gold production is no longer achievable," Newcrest said in a statement.

Newcrest, which also announced a series of executive changes on Thursday, reduced its gold production guidance to between 2 million and 2.15 million ounces for the 2013 financial year, around 10 per cent below the original minimum guidance level.

The company has decided to completely repair its autoclave at Lihir, which will take between five to seven weeks to complete.

Morningstar Resource analyst Mathew Hodge said the future would look brighter for Newcrest if it could overcome problems at Lihir by next year and make the $9 billion takeover for Lihir Gold pay its way.

"Ultimately what matters for Newcrest is that they ramp up Lihir and ramp up Cadia and get solid, consistent low-cost production," Mr Hodge said.

"If they do that they'll restore their position as a low-cost producer."

The next year would be a big test of Newcrest's management.

He said investors might think differently about the stock in a 2014.

"People are implying that things are going to continue to be bad, but I think it's a bit overdone."

Operations at Cadia Valley in NSW and Bonikro in the Ivory Coast are expected to deliver within their original guidance ranges, while Hidden Valley production in PNG is in the range of 80,000 to 90,000 ounces.

The Telfer operation in Western Australia was affected by the heavy rainfall in February associated with Cyclone Rusty but is still expected to reach its original guidance.

Annual copper production guidance remains unchanged.

Newcrest also announced the appointment of Geoff Day as executive general manager (EGM) of sustainability and external affairs to succeed Stephen Creese, who is retiring from his current role as EGM of corporate affairs on July 1.

Last month Newcrest reported that first half profit dropped by 51 per cent due to weaker production and sales.

AAP krc/jmc


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