The Melbourne Cup is an Australian sporting event that's supposed to "stop the nation." What is it? Is it soccer? Is it cricket? No, the Melbourne Cup is the "horse race that stops a nation."

The cost of funding and lending may remain high for a while say Australian Banks. The story published in today's The Age reports that the elevation of the banking funding costs may well go through next year.

Confusion and an overcrowded hospital seemed to play a part in the fatal heart attack suffered by a man from Mooloolah Valley, Australia. An investigation is underway to find out why a Queensland ambulance carrying a high-level risk heart patient was diverted to a less crowded hospital further away. The man passed away before he reached the second hospital.

The federal treasurer of Australia Wayne Swan says that the interest rates are currently on hold, which is great for home buyers. However, he said that the key benchmark rates will not stay low for a long time and will rise.

Australian rugby scandal has surfaced to the public and media attention humiliating one the prominent Australian rugby players Matthew Johns and now turning the focus to the other people who were in the hotel room. The woman, in the middle of the rugby scandal, says she experienced "no trauma whatsoever" from the affair.

You decide. While she didn't win, Stephanie Naumoska, 19, competed in the Miss Universe Australia contest in Sydney (the winner goes to the Miss Universe finals), and drew attention not for her beauty, but for being, well, gaunt.

Official figures show Melbourne had the greatest population growth of any capital city last financial year as the city records the largest growth in human capital.

In an effort to bolster its move towards economic recovery, China has continued to invest. As part of a 4 trillion RMB ($600 Billion) stimulus capital infusion – larger proportionally than the one in the United States – the Chinese based infrastructure giant, Hunan Valin Iron and Steel purchased roughly an 18% stake in Australian company Fortescue Metals on Tuesday.

The wildfires that tore across the southern state of Victoria in Australia now appear to have been deliberately set, changing them from a natural tragedy to arson, and perhaps more.

On Sunday, 15 February at 5pm at the Street Theatre, Canberrans are invited to attend an evening celebrating contemporary classical Latin American music. The event will include a dazzling display from the Mexican quartet Latin Chamber Ensemble, Colombian ensemble Cuatro Quartet and Melbourne based Collectivo 29, illustrating the great depth and diversity of the compositions of the region. Readers of HULIQ will get access to the concession price if they mention the code written here.

Greetings from Queensland, Australia. It’s been a whirlwind since my Virgin Blue flight touched down here yesterday in Hamilton Island, one of the 600 Islands of the Great Barrier Reef and the largest inhabited island in the breathtaking Whitsundays.