POLITICS & POLICY

Global markets extended their gains overnight, as Greece dropped voting on its financial rescue and the European Central Bank unexpectedly cut interest rates. Markets cheered the news and gains were posted across the board. The ECB surprised the markets with a 25 basis point rate cut to 1.25% to bolster economies reeling from the debt crisis. New ECB President Mario Draghi made it clear that the euro area is at risk of relapsing into a mild recession.

US ISM non-manufacturing index eased modestly from 53.0 to 52.9 in October. A reading above 50 indicates the sector is expanding. Business activity, new orders and exports remained healthy.

Labor is considering proposals to distinguish parts of the world's largest marine protected area with differing levels of environmental protection, reports said.

When the Duchess hosted a dinner event in lieu of Prince Charles, she was spotted declining glasses of champagne, does it mean that she is preparing her diet and declining alcohol for pregnancy?

The heat goes on for the debacle on Australia's controversial 30 per cent minerals resource rent tax (MRRT) as small- and mid-sized Australian mining company executives debunked the proposed mining law saying the smaller mining firms are at most risk with it.

With foreign exchange reserves going up from $749 million to $312.231 billion last month (based on Reserve Bank of India’s statistics), India is another candidate from the group of top emerging economies of Asia that could contribute to resolving the financial woes of the Euro zone.

Of all the emerging economies, China is in the best position to assist the ailing nations in the Euro zone due to its abundant financial reserves. However, it has all the right reasons not to do so in the near term.

The Australian sharemarket lost ground today for the fourth consecutive day, with the All Ordinaries index (XAO) down 0.3 pct or 13.8 pts to 4237.5. Almost all sectors lost ground, with the financials and energy stocks the biggest drag on trade.

Because of her elegant-yet-practical approach on fashion, the Duchess of Cambridge has another title under her belt: the best dressed woman in all of Britain.

Global manufacturing continued to stagnate in October, with the shaky eurozone threatening to drag other economies into recession.

Indian coal miner Coal India Ltd., struggling to meet production targets, has accelerated efforts to buy unlisted overseas firms after receiving approval from the Indian Finance Ministry.

The Arab League announced Wednesday that Syria has agreed to its proposal to defuse the political unrest in the country during a meeting of the group's ministers in Cairo, Egypt.

A high-end magazine hailed the Duchess of Cambridge as "Britain's Best Dressed" beating fashion icon Kate Moss.

Australian Prime Minister Julia Gillard has committed to double her government’s support for the International Monetary Fund (IMF) when she meets with Group of 20 (G-20) leaders in Cannes.

Environmental and health groups are campaigning aggressively for a boycott of Johnson & Johnson’s baby shampoo and other company products after it confirmed that the baby shampoo with toxic chemicals are still being sold in countries like the U.S., Australia Canada, China and Indonesia.

Under Australia immigration’s new accreditation program, the period of time a skilled worker can stay in the country will be doubled from three to six years for selected businesses under updates to the 457 visa system.

In a bid to address China's electric power shortages, China Power International Development Ltd. and China Coal Energy Co. Ltd. have announced a $784 million joint venture to build and operate coal-fired plants in the northern province of Shanxi.

Australia was named the second-best country in the world to live in based on the United Nations Human Development Index released on Thursday.

In a bid to conserve energy and resources, limit environmental damage and boost revenues of local governments, China has started implementing this month an extended regional sales-based tax on domestic sales of crude oil and natural gas. In the near term, the said sales tax will also be slapped on coking coal and rare earths.

Greek Prime Minister George Papandreou’s hasty decision to call for a referendum on the Euro zone bailout package has caused adverse effects ranging from the fall of stock markets all over the world to fears of a global downturn.

Local stocks are coming under selling pressure in early trade, despite optimism returning on Wall Street and in Europe. The All Ordinaries Index (XAO) is down 20.4pts or 0.5pct to 4230.9 at lunchtime in the East.

Notwithstanding prices of coking coal projected to fall further into 2012, Australia's BHP Billiton Ltd. together with Mitsubishi Corp. of Japan has approved a $4.2 billion expansion deal for two coal projects in central Queensland.

Australia has been listed as the sixth among 28 big economies that bribes public officials on overseas business meets, according to a survey by the Transparency International titled 2011 Bribe Payers Index (BPI).

Namoi Cotton Cooperative Ltd., Australia's largest cotton processor, has received a much needed marketing boost from the China National Cotton Group.

An online petition sponsored by SupportOurSharks.com is currently gathering signatures to protest the decision of Western Australian government to allow the hunting of a shark that killed its the third victim in the state. As of Nov. 2, the petition has gathered close to 18,000 signatures.

U.S. stocks bounced back after a sharp two-day selloff, as investors took hope in the Federal Reserve's pledge to support the economy and looked ahead to a meeting of world leaders in Cannes. In a reflection of recent volatility, the blue-chip Dow gained 219 points in morning trading before slashing those gains in half by the afternoon.

The ADP Employment Survey showed that the US private sector added 110,000 jobs in October. The result was ahead of forecasts and all the job gains came from small and medium sized businesses. In addition September job gains were revised higher from 91,000 to 116,000.

Price fluctuations and production surges of precious metals have largely been determined by how investors cling to their investments.

A week after member-nations of the European Union opted to support an extended fund to bail out problematic Euro zone economies, pressing developments are taking place that have been the cause of concern for countries all over the globe.