POLITICS & POLICY

Iran has devised a scheme to maintain some fiscal normalcy amid international tensions related to its nuclear programme after the U.S. and the eurozone imposed sanctions affecting the country's trade and financial transactions, by accepting physical gold as payment for trade, along with the U.S. dollar and other agreed currencies of other nations.

Prime Minister Julia Gillard flatly denied on Thursday reports that she offered the Cabinet post vacated by Kevin Rudd to Bob Carr, calling media reports about the job offer as "completely untrue."

A group of parents in Victoria is challenging the Department of Education and Early Childhood Development in VCAT (Victorian Civil and Administrative Tribunal) to fight for fairness in the discussion of religions in state schools.

Significant increases across the clothing and footwear and transport equipment sub-sectors together with a lift in new orders were leading contributors to another month of expansion in the manufacturing sector, according to the latest Australian Industry Group - PwC Australian Performance of Manufacturing Index (Australian PMI®).

Bell FX Currency Outlook: The Australian dollar traded in a relatively wide range overnight, with the movements driven mainly by developments out of Europe and the US.

The Australian stock market is seen taking on the negative leads in today's trading signifying the impact of U.S. Federal Reserve chairman Ben Bernanke's statement that quantitative easing (QE3) may not happen soon as expected.

U.S. stocks edged lower after Federal Reserve Chairman Ben Bernanke took a cautious view of the U.S. recovery and offered few clear signals that the central bank could take additional measures to ease policy. The Dow Jones Industrial Average slipped 14 points, or 0.1%, at 12991, in afternoon trading, after rising 50 points earlier in the session.

Virgin Australia (ASX: VAH) announced on Wednesday that it will start to introduce beginning March 1, 2012 a $3 carbon tax surcharge for passengers.

The Australian sharemarket improved for the first time this week today, with the All Ordinaries Index (XAO) gaining 0.8 pct or 36.9 pts to 4388.1.

Determined to make its presence felt in the global community, the BRICS group - Brazil, Russia, India, China and South Africa - has pen-pushed for discussion on their fourth summit scheduled on March the creation of a multilateral bank for their group's exclusive use and disposal.

The host of The Circle, a Channel 10 program, is in the hot seat after criticizing Ben Roberts-Smith, winner of the Victoria Cross. A heavy counterattack was thrown towards the host after describing one of the nation's greatest war heroes as brainless.

The $6-billion Oyu Tolgoi copper and gold project in Mongolia is on track to meet its initial production targetted to commence in the third quarter of this year with the construction of the mine's first phase reaching 73 percent completion, owner Ivanhoe Mines Ltd. announced on Monday.

Andrew Forrest is in danger of losing the management grip on Fortescue Metals Group (FMG), a mining firm he founded that now holds the distinction as the third biggest exporter of iron ore from Australia.

The dental health of Australians has gotten worse, and $10 billion is needed to fix the system that provides care for the Aussies’ teeth.

The score now is two against zero.First was when the Atomic Energy Licencing Board (AELB) and the Science, Technology and Innovation Ministry (Mosti)of Malaysia granted Lynas Corp. a temporary operating licence (TOL) to proceed with the controversial $200 million rare earths processing plant in the province of Kuantan. Now second is the issuance of a preliminary objection by Malaysian government legal representatives against the court action lodged by a group of Kuantan residents that challe...

A Senate inquiry is due to report today on the circumstances surrounding forced adoptions in Australia. The inquiry has taken a year to gather accounts and evidence from hundreds of relinquishing mothers across the country.

Prime Minister Julia Gillard needs to clarify reports suggesting that American authorities appear to have secretly established a case against controversial whistleblower Julian Assange, an Australian national.

Bell FX Currency Outlook: In a quiet session overnight, the Australian Dollar held yesterday's gains as local financial markets await a raft of economic data to be released today and the all-important release of the European Central Bank's second round of Quantitative Easing.

Overnight leads from the U.S. and European markets are to provide a boost to the Australian stock market on Wednesday.

U.S. stocks were slightly higher Tuesday, with the S&P 500 Index extending its advance into a fourth session, after a gauge of consumer sentiment rose to a 12-month high and oil prices fell.

The Mobile World Congress 2012 held in Barcelona, Spain, had a good start as more than 60,000 companies in the telecommunications industry gathered to showcase new technology to the market. One of the most talked about gadgets during the event was the new smartphones launched by different companies.

The Australian sharemarket ended a touch lower today despite a stronger start to trade. The All Ordinaries Index (XAO) fell 0.1 pct or 3 pts to 4351.5. The mining, energy and financial sectors ended in the red today, which was enough to drag the XAO into the red.

Sometimes a cookie is just a cookie. Sometimes it's a symbol of all that's wrong with the world.

A controversial video and photos were scattered online through Germany based news websites throughout the night showing the most powerful woman in Europe, Angela Merkel, served by a 21-year-old named Martin while attending the Christian Democratic Union meeting at Demmin, northeast of Germany, last week.

Senior Labor leaders have admitted that the leadership showdown between Prime Minister Julia Gillard and former Foreign Minister Kevin Rudd this week drove down a gaping wedge between party members.

Kiwi beneficiaries with children will be compelled to look for work as soon as changes to New Zealand’s welfare are introduced in March. Social Development Minister Paula Bennett announced on Monday that the first stage of National's welfare reforms will get underway next month, Dominion Post reported.

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.