POLITICS & POLICY

It won't be long before the controversial rare earths processing plant of Australian miner Lynas Corp. goes full blast in Malaysia even if protesters are sure to mount various objections to challenge its eventual kick-off, after the Ministry of Science, Technology and Innovation (MOSTI) ruled out the appeal of locals against the temporary operating license (TOL) issued in January by the Atomic Energy Licensing Board (AELB).

A top-ranking official of the Libyan government has hinted that cooperation coming from detained Australian lawyer Melinda Taylor and the International Criminal Court (ICC) is the key for the early resolution of the ongoing diplomatic row.

The country's first female Prime Minister may have attracted the adulation of the international community for her tax programs that aim to reduce the world's collective carbon emission and to filter down the benefits of Australia's ongoing resource boom but her countrymen do not share the same sentiments, the new Galaxy poll said.

Bell FX Currency Outlook: The AUD has continued its firm tone from Friday's trading, as it appears a new coalition government will be formed in Greece between the New Democracy Party and PASOK, giving them control of 161 seats in the 301 seat parliament.

Unveiling of the carbon tax policy in 2011 failed to dampen resource exploration spending in Australia. Treasurer Wayne Swan pointed out that mineral exploration spending in the country rose 35 per cent since then.

Risk currencies have gapped higher this morning as projections showed Greece's two largest pro-bailout parties winning enough seats to forge a parliamentary majority. Anti-bailout party Syriza received 26.6% and 71 seats. The euro raced to a high of 1.2747 against the greenback, while the Aussie dollar advanced to 1.01327 against the USD. With the euro taking the election results positively ahead, Asian markets are in for a firm open. As well as listening for political commentary in Greece, i...

Energy stocks led the U.S. market rally as rising optimism that the world's central bankers are primed to stabilize financial markets boosted stocks for a second day. The Dow Jones Industrial Average advanced 115.26 points, or 0.9%, to 12767.17 to close near Friday's session highs.

Greens candidate Cathy Olke unveiled an ambitious plan to create community-based solar farms on vacant roofs and lands in Melbourne. The plan is part of her political agenda as she campaigned for the by-election in the city on July 21 after Labor MP Bronwyn Pike resigned.

The Australian sharemarket managed to improve for the second time this shortened trading week. It certainly was quiet over the past four days, partly due to the Greek Presidential elections which will take place this Sunday. Markets were closed on Monday due to the Queen's birthday. The All Ordinaries Index (XAO) rose 0.4 pct or 17.2 pts to 4107.

Human smuggling suspect Captain Emad could soon see his visa cancelled by local immigration authorities following the announcement made on Friday by the Australian government that the Iraqi national may have violated the Migration Act.

The International Criminal Court (ICC) was fully aware that its delegates could run into hostile situation in Zintan prior to the detention of its team led by Aussie lawyer Melinda Taylor last week.

Fifteen days to the carbon tax's implementation, its $23 per tonne price is being used as scapegoat by different groups for pending increases in prices such as rent and electricity prices.

The government does not intend to hide from the public eye wrongdoings, past and present, committed by officers of the Australian Defence Force (ADF), as alleged in the review conducted by law firm DLA Piper.

As the world anxiously await the restart of two of Japan's idled nuclear reactors, the rest of globe continue to step up working on improvements and safety checks on their respective nuclear power plants.

Prime Minister Julia Gillard said on Friday it was normal in the world of politics for opposing sides to keep tab on what the other was doing, providing a thinly-veiled defence on the alleged 'dirt files' that one of her senior staff has collected.

The Aditya Birla Group, an Indian telecom-to-cement conglomerate, wants to foray into the U.S. coal industry, currently negotiating with thermal coal miner Drummond Company for a significant number of stakes in Colombian-owned mines for a total of $1 billion.

With its Malaysian plant still yet to process rare earths ore from its Mount Weld project, Lynas Corp. is now eyeing on the adjacent Duncan deposit and it most likely to develop it within the next four years.

The trade-off for creating the world's biggest marine park reserves is the possible loss of 36,000 jobs and $4 billion in revenue for Australia's fishing industry.

Bell FX Currency Outlook: Markets have ended higher, in what was a volatile week, as the G20 gives risk a boost ahead of Greek elections this weekend.

U.S. stocks rallied as signs of a worsening U.S. labor market and European debt picture bolstered investors' hopes that central bankers will again come to the rescue. The Dow Jones Industrial Average jumped 155.53 points, or 1.2%, to 12651.91.

Global miner BHP Billiton Ltd had expanded its control on the Olympic Dam copper and uranium mine project after it bought for $3 million, some five exploration licenses and one license application from junior explorer Tasman Resources Ltd.

There's no more stopping Japan from restarting and blasting again online its suspended nuclear reactors.This weekend, Japan, a year after being struck by a debilitating earthquake and tsunami that destroyed one of its nuclear reactors, is ready to bring back to life two of its suspended nuclear power plants.

Global miner BHP Billiton Ltd., which said in May it is safekeeping for the meantime some $80 billion it had earlier allotted for investment on new mining projects, had just expanded its control on the Olympic Dam copper and uranium mine project after it bought for $3 million five exploration licences and one licence application from junior explorer Tasman Resources Ltd.

The Australian sharemarket ended in the red for the second day running, with the All Ordinaries Index (XAO) slipping by 0.5 pct or 21.7 pts to 4089.8. No sectors were spared from the selling today, with even the defensive telcos dipping into the red by close of business. TLS shares eased 0.28 pct or 1 cent to $3.60, however has gained by around 8 pct since the start of this year.

Australia is all set to upgrade its existing network of marine reserves that would lead to the creation of sprawling parks covering the nation's coastal areas and providing protection to a host of endangered sea creatures.

The central bank of Kazakhstan announced it will further build up its official gold holdings by as much as 20 per cent in 2012 from the previous year'a 15 per cent, as well as reduce its holdings of the euro currency to 25 per cent from the previous 30 per cent.

Key nations are set to tackle pressing economic and environmental concerns next week as the G20 and the United Nations successively host global summits that will bring together global economies in hope of resolving the world's prevailing problems.

Prime Minister Julia Gillard said on Thursday that her government was all about protecting Australian industries and the workers benefitting from them as she shot down suggestions that federal authorities neglected specific sectors to save preferred ones.

With its highly-controversial Malaysian rare earths processing plant an already ample source of headache, Lynas Corp. has been reported to be likely backing out from another rare earths project, this time in Africa.