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AUSTRALIAN NEWSPAPER HIGHLIGHTS - MARCH 2, 2009.

AsiaPulse News

| March 02, 2009 | COPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, March 2 Asia Pulse - Highlights of today's newspapers:

THE AUSTRALIAN:

- Dozens of freighters carrying Australian iron ore are stalled outside Chinese ports amid a collapse in demand for steel. Zimbabwean President Robert Mugabe's weekend birthday party cost $390,000, had 3,000 people in attendance and an 85kg cake.

- Defence Minister Joel Fitzgibbon has foreshadowed major reform of the military bureaucracy in the wake of his bruising spat with the top brass over the SAS pay bungle.

- The University of Canberra has topped the list for the lowest percentage of socio-economic disadvantaged students at an Australian university.

- US President Barack Obama has declared his schedule of higher taxes and massive spending a fundamental reordering of federal priorities that would deliver "the sweeping change that this country demanded when it went to the polls in November".

- The Australian market looks set to drop into new negative territory on Monday, pulled down by a slumping US share market and fears of a creeping nationalisation of ailing bank Citigroup.

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