Helped by its massive natural resources, Australia has weathered the global financial crisis better than other Group of 20 economies. In 2012, its economy grew 3.1 per cent, compared with 1.6 per cent in the United States and 1.1 per cent in Canada.
Munce licensed to ride in Australia
Disgraced jockey Chris Munce has been licensed to resume riding in Australia, despite still facing 36 charges of breaching Hong Kong's racing rules. Munce, freed in Sydney last week after serving 20 months of a 30-month sentence in a 'tips-for-bets' scandal, was licensed by Racing New South Wales on condition he makes himself available to a Hong Kong Jockey Club stewards' inquiry. That hearing will reopen next Monday with Munce facing, among others, 32 race-by-race charges, dealing with betting or having an interest in bets.