POLITICS & POLICY

India is determined to promote its nuclear energy program with a planned 20 more nuclear reactors in the pipeline amid escalating protests in the country.

Barely a week after Telstra Corporation submitted its revised structural separation undertaking (SSU), the Australian Competition and Consumer Commission (ACCC) gave its approval for the $11 billion deal between NBN Co and the country's dominant telco to go ahead.

Qatar, in an apparent bid to ascertain its position as the world's top exporter of liquefied natural gas (LNG), is looking to invest into the LNG facilities of Australia, the world's fourth-largest LNG exporter, in what could be seen as a merger of two LNG strongholds.

There are speculations that Australian Prime Minister Julia Gillard, who just got a fresh mandate from her party mates in the Monday Australian Labor Party leadership ballot, will initiate a cabinet reshuffle. The revamp reportedly would take into account the stand taken by Labor MPs with cabinet positions in the lopsided poll.

In spite the grim apathy that seemed to shroud most of today's youth, there are still those who get involved and engage in the politics of change. Students from state-run Polytechnic University of the Philippines (PUP) have shaved their heads in protest denouncing an alleged misuse of funds by officers of their student council.

Japanese consumers would be required to reuse and reprocess rare earths metals found in a number of electronic products in a bid to lessen dependence on the precious metals under opending legislation.

The Australian stock market is off to a positive start on Tuesday's trading day, as overnight leads from the European and U.S. stocks markets were taken, though lightly by investors still wary how the recent jump in oil prices will curb potential earnings.

U.S. stocks pushed higher on the heels of firm readings on the domestic economy, putting the Dow industrials on course for the first close above 13000 since May 2008. The Dow Jones Industrial Average, which at one point Monday had fallen 100 points, climbed 24 points, or 0.2%, to 13006 in afternoon trade.

Bell FX Currency Outlook: The AUD is stronger this morning, currently trading around USD1.0750 after looking markedly weaker during our local trading session yesterday.

The Australian sharmarket lost ground for only the second time in five sessions, with the All Ordinaries Index (XAO) falling by 0.8 pct or 34.5 pts to 4354.5. The good news is that last week was the best week of 2012 to date with shares improving by 2.7 pct.

The almost complete $200-million rare earths processing plant in Malaysia of Lynas Corp. continues to wrangle protests, even as a nuke expert had said the plant is very much safe.

The national Labor Leadership ballot has revealed Julia Gillard being the winner. She has gained 71 votes compared to Mr. Rudd's 31 votes according to the announcement made by Chris Hayes, party returning officer.

Complicated adjustments and the ongoing Labor leadership row should convince the federal government to give some breather to the financial services industry and delay its scheduled revamp July this year.

Russian-Canadian miner Rusoro Mining's loss has become the Citic Group of China's gain as the Chinese state investment company on Friday sealed with Venezuelan President Hugo Chavez an accord to develop the Las Cristinas gold project, along with other oil and mining projects.

After a flat start, the Australian share market is trading lower at lunchtime in the East, following a vote on the Australia Labor Party leadership. Julia Gillard remains Australia's Prime Minister, beating former Prime Minister Kevin Rudd 71 votes to 31 in a Caucus room vote this morning. The All Ordinaries Index (XAO) is down 24.5pts or 0.6pct to 4364.5.

It was a lopsided victory for Julia Gillard who handily beat Kevin Rudd 71 to 31 for the leadership post in the Australian Labor Party on Monday morning. With the votes, Ms Gillard would also retain her position as Australian Prime Minister.

The Australian stock market has begun with a heady, flat start this morning as the country watches the voting caucus among Labor Party leaders. Although analysts expect Julia Gillard to win, Australians and observers are still disappointed at the cracks in the leadership foundation of the party and confidence among voters will be difficult to rein.

Bell FX Currency Outlook: The Australian Dollar has opened around 1.0700 and is little changed from Friday's close as the leadership vote in the Australian Labour Party caucus commences at 10 am today.

The Standard & Poor's 500-stock index squeaked out its highest close since 2008, as most stocks traded higher after better-than-expected reports on home sales and consumer sentiment. The Dow Jones Industrial Average fell 1.74 points, or 0.01%, to 12982.95, after reaching above the 13000 mark earlier in the session.

Amidst a global financial pandemonium, the group collectively known as BRIC - the countries of Brazil, Russia, India and China - in a show of collective strength is contemplating pooling resources and funds together to create a multilateral bank, but only by and for the exclusive use of developing nations such as theirs.

Resigned Foreign Minister Kevin Rudd said on Friday in a Brisbane press conference that he will challenge Australian Prime Minister Julia Gillard for the leadership of the Australia Labor Party (ALP).He arrived earlier on the same day from Washington.

Ethiopia, Africa's second-most populous nation, wants to sell portions of its state-owned tantalum rare earth mine to foreign countries, and it wants investors from China, Sweden, Germany or South Korea to make a bid on it.

Both the Reserve Bank of Australia (RBA) and the ANZ Bank are apparently sending mixed signals to the public when it comes to interest rate setting. While RBA Governor Glenn Stevens said on one hand that the large Australian banks are not too profitable, he maintained on the other hand that the overnight cash rate of 4.25 per cent is where it should be even if the big four have lifted their lending rates.

The National Broadband Network nears its full realisation as Telstra Corporation submitted on Thursday its revised plan that will pave the way for NBN Co to assume control of the giant telco's national communication network.

Kevin Rudd was impossible as a boss, according to Attorney General Nicola Roxon, who served as head of the Health Ministry until the former prime minister was booted out in a party coup in 2010.

A day after he resigned from his post, former Foreign Affairs Minister Kevin Rudd is back in Australia. In a press briefing on Friday morning upon his arrival at Brisbane Airport, Mr Rudd said he would make a statement later within the day on his plans about the Australian Labor Party leadership ballot on Monday.

Unconfirmed media reports on Thursday circulated that Vale, the world's second largest metals and mining company and global leader in iron ore production, is reportedly eyeing to buy into Australian iron ore resources to strategize its shipment schemes to the Asian market.

The Adani Group of India has allotted a $6 billion worth of funds for projected coal mine-related expenditures as it pushes through with its overseas expansion plans in Australia and Indonesia by 2015.

The Australian stock market is bound to benefit from the overnight gains posted by markets in the U.S. and Europe. The S&P 500 traded near 10-month highs and the Dow once again flirted within the 13,000 level.