POLITICS & POLICY

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.

Iran test-fired a new missile that can hit radar-evading missiles during a naval drill in the Strait of Hormuz on Sunday. It also announced the successful test of locally-made nuclear fuel rods for powering nuclear reactors.

Former Australian Prime Minister John Howard was appointed by the Queen to the Order of Merit. The order is bestowed on individuals who have achieved exceptional distinction in the arts, learning, sciences and other areas such as public service.

Welcoming 2012 may be varied in different areas around the world, but such a celebration holds one common practice - to party and make noise! It's the time to be happy and cheerful.

India has decided to further open up the country's stock market as part of its efforts to attract more investments and reignite growth of its domestic economy.

Hackers have stolen emails from the Strategic Forecasting Inc., a private analysis company serving for clients such as the Wall Street banks, U.S. military, and other big corporations. Hackers are associated with an Anonymous group and have indicated that they are prepared to publicize what they have taken from the firm.

The great leader of North Korea, Kim Jong-il, received a copious memorial service under a gloomy sky on Dec. 28 during the time his administration combined traditional-style militarism together with a noble procession in honor of its ruler.

Royals have finally disclosed their earnings for this year. King Juan Carlos on Wednesday revealed that he got 292,752 euros, which is equivalent to $382,600 in 2011.

Australia is in a stronger position than most to handle the expected global slowdown to come from the European debt problem, Treasurer Wayne Swan said. In fact, the country can maximise the opportunities that will come from the Asia-Pacific, now the strongest part of the global economy.

A warehouse located in the largest city of Burma has exploded. The incident has resulted death to no less than 17 people and injuries to over 100.

U.S. President Barack Obama confirmed on Thursday the sale of new F-15SA combat planes to the Kingdom of Saudi Arabia, amounting some $30 billion will push through.

U.S military officials hinted strongly on Wednesday that Tehran courts possible military response if it makes good its threat of sealing the strategic Strait of Hormuz, the major passageway of oil shipments to and from the Persian Gulf.

Iraq is on the brink of collapse, according to the country's former Prime Minister Iyad Allawi, no thanks to bold political maneuvring being implemented by present Prime Minister Nouri al-Maliki.

Shares of US rare earths producer Molycorp Inc. plummeted 13% on Wednesday, trading for as low as $24.52 per share, after analyst JP Morgan slashed its price target on the stock to $39 from $57.

Yesterday, The Australian Stock market closed 19points lower. But today, after a negative week of trading, the market turned higher at the open up 10points, boosted by strong gains on overseas markets.

Australian miner Peak Resources has announced it will place 8 million new ordinary shares at $0.28 per share to be able to raise A$2.24 million to complete the initial works on the Ngualla Rare Earth Project in southern Tanzania.

The U.S. Army is developing a helicopter drone equipped with a 1.8 gigapixel camera that can provide high resolution ground images or video from an altitude of 20,000 feet and over an area of 65 square miles.

InterOil Corporation of Papua New Guinea had secured a preliminary sales deal with Chinese company ENN for its first natural gas output, in what could be a thrust for InterOil to finally push its planned $6 Billion liquefied natural gas (LNG) project.

Toronto-based junior miner Royal Coal Corp. on Wednesday announced it had secured a 234,000-tonne worth coal sales contracts for delivery starting January 2012.The company said the coal will be sourced from its Appalachian mines at an average sales price of $85 a tonne.

India's fuel stock at its 89 thermal power stations has fallen by 35 per cent from a year ago, the latest data from the Central Electricity Authority reveal.

Japan's Kobe Steel Ltd. and Steel Authority of India Ltd. are mulling to create a $284 million worth joint venture iron-making plant project in India that will employ the Japanese steel maker's new iron-making technology.

Australia will be soon seeing its first uranium concentrate shipment, after Chinese-owned Energy Metals signed an agreement to ship third-party uranium from Adelaide to its parent company in Shanghai.

Qatar's nominal gross domestic product (GDP) had grown by 40 per cent during the third quarter compared a year ago, latest data from the Qatar Statistics Authority said.

Talisman Energy Inc. of Canada on Wednesday announced is it on the lookout for a business partner that will help the firm explore and develop four of 14 natural gas leases in Papua New Guinea (PNG).

The National Electrical and Communications Association (NECA) sought on Thursday more stringent electrical safety measures in Australia, particularly for older homes.

After more than a six-month delay timeframe, Vale's humongous iron ore ship Berge Everest finally called on China's Dalian port.

Australia's Human Services Ministry issued in 2010-11 192 departure prohibition orders (DPOs) against parents considered deadbeat. The DPOs, which prevents them from traveling, were made after repeated attempts to make them pay debts.