POLITICS & POLICY

Residents and business owners in Hunter Valley reiterated its call for the New South Wales (NSW) government to ring fence the region from coal seam gas (CSG) exploration and production.

In what seems to be a testament of the global pandemonium for supply of rare earths, American rare earths producer Molycorp, Inc. on Tuesday reported it had entered into customer supply agreements representing 78 per cent of expected output from the Phase 1 expansion works at its Mountain Pass, California rare earth mine and oxide manufacturing facility.

The Australian government urged Fiji's military rulers on Tuesday to restore democracy in the island republic, a day after the country's leader, Voreqe Bainimarama, announced immediate plans of reforms after seizing power in 2006.

Fresh reports of boat refugees intercepted anew by Australian authorities on Monday prompted new calls from Opposition Leader Tony Abbott for Prime Minister Julia Gillard to finally adjust her immigration policy.

Former Prime Minister Bob Hawke has called on current Australian Labor Party leaders to steer through the modernisation of the party and implement reforms that would secure its existence in the years ahead.

Gold futures advanced a tad higher on Wednesday, by far its best level in little over a week, on a weakening US dollar and Iran's pronouncement of its progress in its nuclear program.As of 0015 GMT, spot gold inched 0.2 per cent to $1,606.09 an ounce, its biggest daily gain in more than two months.

Yesterday, The Australian Stock market ended higher, All Ordinaries index (XAO) gaining 1.1 pct or 44.2 pts to 4155.2. The market started off stronger this morning up 1.2pct at the open of trade.

CNN - North Korea advised its people to demonstrate loyalty to the death for the new leader Kim Jong Un.

Current reports indicate that two groups of scientists were paid to genetically change a lethal virus into something more infectious. It has triggered fear, even rage, in a few quarters.

Reliance Power Ltd. by Indian billionaire Anil Ambani and global energy giant Royal Dutch Shell Plc are reportedly mulling to put up what could become India's first east-coast liquefied natural gas (LNG) terminal.

The Gladstone Ports Corporation is exerting efforts to have its harbour removed from the World Heritage List so that it could continue with its dredging operations sans international scrutiny, according to the Greens.

China's continued tightening of regulation policies on its property market has affected sales of both new and existing homes in Beijing.Latest data by Centaline China Property Research, the city's housing regulator, showed sales of new home in Beijing fell 18.4 per cent to only 90,605 units in 2011 compared from a year ago, the Beijing News reported Monday.

With China and India, both emerging economies, posting favorable manufacturing statistics in the last month of 2011, it surely goes to prove the Asian region is very much resilient to the fiscal rollercoaster ride in the European region. Suffice to say, that in the event Europe goes down, Asia could possibly remain firm.

In what could be a positive signal for the eventual opening of its controversial rare earths plant in 2012, the Malaysian Atomic Energy Licensing Board (AELB) has put for public consultation the application for a temporary operating licence of Australian rare earth processing company Lynas Corp.

As Western powers move closer to enforce its planned economic sanctions against Iran, Tehran gave the green light for its navy to conduct test firings of missiles on Monday, quickly earning condemnations from France and the United States.

Indian iron ore miners cautioned federal authorities total shipments of the key steel-making raw material ingredient will unlikely exceed 50 million tonnes in 2012 following the recent implemented increase in the duties of iron ore exports by the country.

Gold One International is now 89.17 percent owned by BCX Gold Investment Holdings, a consortium of Chinese investors, after the latter had successfully completed the required A$150 million subscription investment to gain majority ownership of the dual-listed South African and Australian gold producer.

Israel's military will soon warn citizens in real time and in multiple languages of incoming missiles that are not intercepted via SMS.

Today is the first day of trading for the 2012 calendar year, The Australian Stock market ended the last day of 2011, 19 points lower. But today, after higher commodity prices and light trading in Europe the market opened stronger.

Global record high prices of gold as well as high domestic interest rates have affected imports of the yellow metal by the world's largest buyer, India, falling 9.11% in 2011 compared a year ago, the Bombay Bullion Association said on Monday.

Bell FX Currency Outlook: With the majority of offshore equity markets and commodity markets in the US closed for the New Year's holiday, the AUD is remaining steady around USD1.0200 level in thinly traded markets.

MORNING REPORT(8.00am AEDT)The euro zone purchasing managers index rose from 46.4 to 46.9 in December. The French index rose from 47.3 to 48.9 and the German index lifted from 47.9 to 48.4. In figures released on Sunday the official Chinese manufacturing index rose from 49.0 to 50.3 in December.

From Morrison Securities Pty Ltd.: The final Labor Department jobs report for 2011 will punctuate another holiday shortened week. In addition to the figures on joblessness some of the most closely watched indicators markets will mull over monthly sales figures from retailers for the key holiday-shopping month of December.

New Delhi, India was unsuccessful to obtain critical anticorruption law through its Parliament in a confrontational late-night conference Thursday.

It's raining fireworks! New Year may be regarded as the world's firework festival. Most countries worldwide welcome the new chapter with a big bang of pyrotechnics.

Expect the economies of China and India in a more languid pace in 2012, according to leading Yale University lecturer and global economist Dr. Stephen S. Roach.

Prime Minister Julia Gillard fulfilled her earlier pledge of pushing up the benefits contained in the Family Tax Benefits, picking the first day of the year to mark the realisation of an electoral promise.

Former Prime Minister Malcolm Fraser and his Cabinet had agreed with former U.S. President Ronald Reagan's proposal to test fire an intercontinental ballistic missile called MX from California to the Tasman Sea in 1981, according to secret files released by the National Archives of Australia on Sunday. The test firing never pushed through.

Gay union advocates have called on the Australian Labor Party on Monday to consider right timing before any member of the ruling party officially introduces private member's bill supporting same-sex marriage.