Wall St was down 94 overnight, its biggest fall in a month, while the local market is down 66.
APEC: Sydney, you ain’t seen nothin’ yet…
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We’re still a month away from the APEC summit, but disgruntled Sydney residents have so far tolerated the noise of Black Hawks passing over the city, had their Lord Mayor encourage everyone pack emergency ‘go-bags’ complete with radios and energy bars and had their hospital services cut back. But it’s only just begun. Business owners have been the first to suffer. Cement barriers have been erected in the CBD, blocking access from the roads for many stores. And although Friday September 7 has been declared a public holiday, a number of cafes and restaurants will remain open over the long weekend. It’s not just businesses that have to remain tolerant. Sydney residents and tourists have been advised to take public transport and avoid driving as frequent delays between the airport and the city are to be expected. Under the APEC Meeting (Police Powers) Act, officers will have increased security powers for the period allowing them to search anyone passing through an APEC declared area. Prime Minister John Howard has denied claims that the city will be “locked down” during the meeting but acknowledges that there will be a “heavy security presence”. The early meetings are scheduled to begin on September 2 with the 21 member APEC leaders’ meeting beginning on September 8. Security measures being taken for the APEC summit:
Are you a Sydney resident who has an APEC gripe you’re dying to share? Send your stories with “APEC me” as the subject line to boss@crikey.com.au any time up to the big weekend. |
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