POLITICS & POLICY

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.

The creation of 44 marine parks across Australia will make about one-third of Australian waters off-limits to fishing, oil and gas exploration. The new marine parks, which include the Coral Sea and the southwest coast of Western Australia, are part of the new marine reserves announced by Environment Minister Tony Burke on Thursday.

Bell FX Currency Outlook: The Australian dollar opens at USD0.9950 this morning having re-tested parity overnight. The AUD found support on reports that the German Central Bank was considering purchasing Australian dollar assets.

Although the 2013 federal election in Australia is still months away, politicians in the country are definitely paving the way for their party's victory this early. Signs of early political campaigns include promises and criticisms of other political parties in a bid to get the sympathy of voters.

Stocks sank into the red in late trading Wednesday, as worries about Europe and weak U.S. data eclipsed earlier optimism about financial stocks' outlooks. The Dow Jones Industrial Average dropped 0.6%, or 77.42 points, to 12496.38. Midday, it briefly edged above 12598. The Standard & Poor's 500-stock index fell 9.3 points, or 0.7%, to 1314.88, and the Nasdaq Composite fell 24.46 points, or 0.9%, to 2818.61.

In response to broad hints from Prime Minister Julia Gillard that the Labor-led government plans to revive a previous initiative to lower corporate tax rate to 29 per cent from 30 per cent, business groups issued a challenge to her.

After a stronger start to the day, the Australian sharemarket eased slightly with the All Ordinaries Index (XAO) falling 0.2 pct or 6.8 pts to 4111.5. The volume of shares traded remained a little light ahead of the all-important Greek elections which will be held in just four days. Stocks were largely evenly split between gains and losses.

It's a tradition in Britain and the Commonwealth for the queen to award special honors each year on her birthday. This year, the controversial philosopher Peter Singer becomes a Companion in the Order of Australia.

In yet another wave of "truth in advertising" lawsuits, embattled Tropicana is now fending off approximately 20 lawsuits at once because of blatant truth-slanting labeling that misleads consumers to think that they are buying fresh, unadulterated, good-for-you OJ.

Foreign Minister Bob Carr confirmed on Wednesday that Aussie lawyer Melinda Taylor was under detention by Zintan authorities, belying an earlier report by the Libyan central government that she was being held outside of a prison facility.

Bell FX Currency Outlook: The Australian Dollar is hovering around USD0.9950 this morning, after an interesting night with equity markets gaining, despite increasing concerns over the Euro debt crisis.

Opposition leader Tony Abbott sought on behalf of BHP Billiton (ASX: BHP) from Prime Minister Julia Gillard a written assurance that the mining tax would never be imposed on copper, gold and uranium.

Stocks staged a rebound rally as investors cheered the potential for more stimulus from the Federal Reserve and as Europe's central bankers repeated their call for unified efforts to combat the region's financial issues. The Dow Jones Industrial Average surged 162.57 points, or 1.3%, to 12573.80 on Tuesday, erasing Monday's 143-point slide.

Australian Prime Minister Julia Gillard hinted on Tuesday night of lower corporate tax rates after the federal government scrapped the proposal. She said lower corporate tax rates would benefit workers and the community in terms of more jobs available and better pay over time.

Detained Australian lawyer Melinda Taylor could be held in Libya for 45 more days, according to a statement issued on Monday by the office of the Attorney-General, confirming an earlier declaration provided by authorities in Zintan, where the Aussie was 'arrested' Thursday last week.

More than 1,000 workers at the Modder East mine operation of Gold One International's South African mine have been terminated from their jobs as an aftermath to their week-long illegal protest action.

Australia faces potential revenue stream going down the drain again as workers for another coal miner based in central Queensland state goes on strike effective Monday next week.

Love is that matters, according to Prime Minister Julia Gillard, as she reiterated Monday night her opposition on proposals to legalise gay marriage in Australia.

China might get dumped over the potentially big Belinga iron ore in Gabon, the AAP news agency reported, quoting Raymond Ndong Sima, Prime Minister of Gabon.

Another extremely sad revelation following a decade of war - new Pentagon statistics are showing that the military is losing an average of one soldier per day not to combat in Afghanistan, but to suicide.

The world remains heavily dependent on fossil fuel but a new report issued by the UN Environment Program on Monday highlighted an emerging trend that points to the increasing investments on renewable energy by key economies across the globe.

Molycorp, Inc.'s takeover bid over Canadian rare earths processor Neo Material Technologies Inc is now a done deal.

The Dow industrials snapped a four-day winning streak as investors questioned whether Madrid's weekend agreement to seek bailout funds for its banks will restore confidence in the Spanish economy. The Dow Jones Industrial Average declined 142.97 points, or 1.1%, to 12411.23 Monday.

Guinea is now ready to produce its first iron ore through its joint venture Guinea Development Corporation, with the first shipment expected to be loaded by June 30.