POLITICS & POLICY

With nations resorting to use cleaner fuel arising from concerns of unpredictable global weather changes, demand for liquefied natural gas (LNG) will continue to soar in 2012 and possibly in the coming years. However, the said growth may not run in parallel with LNG prices.

Prime Minister Julia Gillard has rejected suggestions that her government liberally utilised the lure of money to win support among members of the Parliament for its legislative agenda.

Australian economists forecast that the Reserve Bank of Australia (RBA) will keep the overnight cash rate below 4 per cent for 2012. The basis of their outlook is slower global growth in the first quarter of the coming year because of the European debt crisis.

Gold prices held steady on Tuesday, lingering around $1,600 an ounce, as investors remained cautious on the fate of the eurozone debt crisis a few days before a tumultuous year wraps up.

US consumer confidence hit eight month highs in December, lifting from 55.2 to 64.5. Economists had tipped a reading near 58.3. But home prices continued to fall with the S&P/Case-Shiller index down 0.6pct in October to stand 3.4pct lower than a year ago.

From Morrison Securities Pty. Ltd.U.S. stocks edged higher, putting blue chips on track for a fifth straight day of gains, as investors welcomed a better-than-expected reading on consumer confidence.

China's largest coal producer, China Shenhua Group Co. Ltd., will be building in China within the next five years the largest thermal power project in all of Asia.

The consortium of seven Indian companies, led by state-owned Steel Authority of India (SAIL), that won the mining rights to develop the huge Hajigak deposit in Central Afghanistan has requested assistance from the Indian government for $7.8 billion in state aid and loans to develop and push through with the project.

U.S. military officials have indicated willingness to share necessary information on America's operations in areas spanning the borders of Afghanistan and Pakistan in attempts to salvage strained relationship with Islamabad over a deadly air strike last month that killed Pakistani troops.

China is yet to be over its deadly tainted milk scandal because its largest dairy producer Mengniu has confiscated and removed milk cartons from local market shelves baring its label found with toxic substances.

November exports of iron ore from Brazil grew 13 per cent to 23.2 million metric tonnes over October, according to latest data from Brazil's National Union of the Industry of Extraction of Iron and Base Metals.

Exports of iron ore from India to China fell sharply in November, statistics gathered by the Indian Ports Association showed.India's major state-owned ports shipped only 480 million tons of iron ore in November, a decline of 35.4 per cent from a year ago. Iron ore shipments through Paradip, one of the largest ports on India's east coast in Orissa, plummeted 88.4 per cent to 148.6 million tons. Iron ore exports through Visakhapatnam port likewise fell 35.7 per cent to 93.3 million tons....

A British government report credits Prince William and Kate Middleton's wedding and the Queen Elizabeth and Prince Phillip's 11-day visit to Australia for the brief respite from the republican movement.

From Morrison Securities Pty Ltd: On Friday, December 23, Wall Street and European markets rallied overnight after the number of jobless claims in the US fell to the lowest level since April 2008, in a further sign the world's largest economy is returning to health. Australian stocks rose 1.2 per cent to the highest in a week in their last day of trading before Christmas after positive data from the US boosted market optimism

With more and more nations getting more environment conscious, it is not surprising that many had resorted to use either renewable energy or clean energy to fuel their respective energy requirements. A number of nations, such as China, India and South Korea have been importing liquefied natural gas (LNG) by millions of tonnes to meet domestic demand.

Prices of rare earth elements, precious metals essential to a number of manufacturing new technologies, will continue to fall further in 2012, an analyst had said.

An 89.2 billion tonne worth coal reserve has been discovered at Sha'er Lake at China's northwest Xinjiang Uygur autonomous region. Experts said the coal reserve is Asia's largest.

Five rare earth elements fundamental in creating new technologies such as wind turbines, electric cars and efficient lighting are facing critical supply levels over the next few years.

China will continue to enjoy a more than average economic growth of 8.6 per cent in 2012, the Hongkong and Shanghai Banking Corporation (HSBC) forecast on its annual global research released Thursday.

While North Koreans are mourning their late leader Kim Jong-il, a defector from the communist country now living in South Korea felt relieve that the man responsible for killing her family and destroying her life is now dead.

Leighton Holdings subsidiaries John Holland and Thiess have been awarded $300 million worth of contracts for the Chevron-operated Wheatstone liquefied natural gas (LNG) project in Western Australia.

Farmers in 10 of Murray-Darling Basin's 23 communities would allow the flooding of their lands' easement covering more than 1 million hectares.

The next international airport of Sydney could be located at the Nepean district, west of the city, which according to a plan drafted by a federal government taskforce, is best-suited to serve the growing needs of the premier global traveling hub.

Australia's Lynas Mining Corp. is seen getting its rare earths facility up and running by the first quarter of 2011, according to Malaysian authorities.

Growing domestic requirement coupled with a slowing overseas demand may prompt exports of Indonesia's liquefied natural gas (LNG) to fall marginally in 2012.

Finnish authorities on Wednesday detained a British-flagged ship and its 30 all-Ukrainian crews at the Port of Kotka on suspicion of illegally transporting 69 Patriot missiles and 160 tons of explosives.

Acting Prime Minister Wayne Swan has agreed to the Coalition's wish that asylum seekers apprehended on Australian waters be processed instead on Nauru but stopped short of offering protection visas that the Liberals have been demanding as a compromise.

A former whaling captain warned that Japan's annual whale hunt in Antarctica could hurt Australia's $300-million-a-year whale-watch industry.

Federal Treasurer Wayne Swan said on Friday that the Australian economy is robust and growing as reflected by the latest Moody's assessment that maintains the country's AAA credit rating.