The appointment of Senator Kate Lundy as Minister for Multicultural Affairs has received mixed response in Australia. She is the first minister given the portfolio which was abolished in 2007 by then Prime Minister John Howard who preferred to push for a shared national identity.
Australian mining major Rio Tinto Group, also the world's third biggest mining company, is set to infuse some $2 billion into its Orissa iron ore project venture in India amid reports the country's local steel demand alone will balloon by 9 per cent annually over the next five years.
There were tell-tale signs that Coles and Woolworths were flexing too much muscle in pressuring suppliers to ramp up their production but without the corresponding benefits.
The controversy now has hit home.With Lynas Corp. still to fully arrest and win over the controversy surrounding its Lynas Advanced Materials Plant (LAMP) in Malaysia, here comes yet another information that could possibly whip up a storm right where its home base is.
Rare earths miners in China and Australia have decided to fast-track their respective exploration projects amid earlier reports that the falling prices of rare earths in the global market will trigger anew a massive demand for the precious metals.
Official dealings with the government must be undertaken with a fully established identity, this according to new laws that will take effect April 30 this year in New South Wales.
Global markets retreated overnight with China's announcement acknowledging a weakness in its economy and growth would be subdued in 2012 at 7.5%
Stocks bounced back in afternoon trading from morning losses, but remained in the red amid concerns about slowing global economic growth. The Dow Jones Industrial Average was down 21 points, or 0.2%, to 12956, led lower by Alcoa, which dropped 3.4%.
Bell FX Currency Outlook: The AUD has opened below USD1.0700 this morning, currently trading at USD1.0670, as a downgrade in Chinese growth forecast sees a fall in commodity prices that could also result to a decline in the value of the AUD.
As global mineral producers want a more aggressive stance in their search for new sources of precious metals including gold, platinum, and palladium; and other industrial metals, but they might be caught within a credit crunch that may hamper their plans this year.
The backbone of China's newfound economic might mainly rests on its manufacturing sector, which experts said could face serious skill shortages soon as millions of Chinese migrant workers gradually return to their rural homes.
The Australian sharemarket kicked off the new week in the red, with the All Ordinaries Index (XAO) down 0.2 pct or 9.9 pts to 4354.2. Weakness from the miners and energy players dragged the market lower today. On a positive note, we are almost 10 weeks into the year and local shares have improved by 5 pct. The Brazilian market has been one of the standouts and has gained by 19 pct in 2012 while German shares have jumped by 17 pct.
After Friday's announcement by Australian Prime Minister Julia Gillard of her third cabinet reshuffle in 18 months, all eyes are on her appointee to replace resigned Foreign Minister Kevin Rudd.
Australia's total gold yield had barely moved in 2011 and two tonnes less than those registered in 2010.
Australia's total gold yield had nary a movement in 2011, albeit two tonnes less than those registered in 2010.
The Australian government called on its Libyan counterpart to run after the suspected Islamic militants who desecrated dozens of graves in a Commonwealth cemetery, located in Benghazi, where 48 Australian soldiers killed during the Second World War were laid to rest.
The Virginia Senate race is turning into quite the catfight now that Hank the cat has thrown his paw into the race.
The Australian billionaires apparently the subject of the recent essay penned by Federal Treasurer Wayne Swan have hit back and declared that the senior Labor minister was barking up the wrong tree.
Safety regulators had made progress toward improving the rearview visibility for drivers driving a car or a light truck. But the safety regulators said the U.S. rule that may require all cars and light trucks sold in the country to have rear-view cameras won't be issued by deadline dated Feb. 29, 2012 and may be delayed until after presidential election in November.
China is expected to reveal its 2012 military budget this weekend, which U.S. military experts said could exceed the estimated $US160 billion that the world's second biggest economy spent in 2010 for upgrading its military might.
The independent Media Inquiry commissioned last year by the federal government has proposed the creation of a national watchdog that would keep watch on the conduct of all media outlets in Australia - print, broadcast and online.
The Malaysian government continues to uphold Australian miner Lynas Corp., and its beleaguered Lynas Advanced Materials Plant (LAMP) after it directed the company to move its proposed residue disposal facility to a site far from the LAMP location in Gebeng, Kuantan province.
Cautious sentiment is seen getting a grip at the start of the Australian stock market trading on Monday after Friday's disappointing leads from the U.S. and European stocks markets.
Bell FX Currency Outlook: The Australian dollar has opened this morning on the mid 1.0700's after a fairly narrow trading range on Friday evening.
Stocks finished slightly lower Friday after meandering in negative territory for most of the day, with the Dow seeing its first weekly loss in three weeks despite closing above 13000 Tuesday. Without major economic data releases or corporate news to provide direction, stocks drifted lower in a rudderless session.
The Australian sharemarket improved today for the second time this week, with the All Ordinaries Index (XAO) rising 0.5 pct or 21.7 pts to 4367.7. Almost all sectors rose today, however despite the gains, shares lost a bit of ground over the week.
Kazakhstan's appetite and subsequent buying of the precious safe haven yellow metal gold has yet to reach its apex, as U.K.-listed miner Kazakhmys PLC on Thursday announced it anticipates the country's central bank to shore up its gold stockpile this first quarter by as much as 69,000 troy ounces.
Australian Prime Minister Julia Gillard announced on Friday noon the appointment of Bob Carr as Foreign Affairs Minister. He replaced Kevin Rudd who resigned last week and unsuccessfully battled Ms Gillard for the leadership post in the Australian Labor Party.
Australian rare earths miner Lynas Corp. will likely pay some $18 million a year in royalty payments or 2.5 percent to the Western Australian Government after the latter's amendments to its Mining Regulations of 1978.
With the Australian reporting season out of the way the market has fallen back in to usual trading today, following the trends from the U.S. markets and commodity prices overnight. Last night we saw the US markets close slightly higher and this has given our market a small boost at the start of trade. At lunchtime in the East, the All Ordinaries Index (XAO) is up 22pts.
